The most suitable insurance company for your needs depends on your driving history and preferences. Erie is the most affordable for full and minimum coverage policies. It is also our pick for those with a speeding ticket and an an accident. Nationwide offers the best coverage for teen drivers, USAA for veterans and American Family if you have a DUI record.
Our findings indicate Cincinnati Insurance is the best overall with the highest customer service ratings and also the best cheap option for most drivers.
Cheapest and Best Car Insurance in Toledo, OH
Cheapest Minimum Liability Car Insurance in Toledo
Out of the 13 companies we analyzed, the following insurers offer the cheapest minimum coverage rates in Toledo:
- Erie: $208 per year
- Progressive: $276 per year
With an average yearly cost of $3,018, the highest-priced auto insurance carrier in Toledo is State Farm. Nationwide has the lowest-priced auto insurance in Ohio at an average of $226 per year as of October 2022. The cheapest option and your premium amount will vary based on where you live in the state.
The minimum liability policy limits in Toledo comply with Ohio’s law. Your policy should cover damage to personal property and bodily injury and have the following limits:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Minimum auto insurance policies cover third-party damage and injury not exceeding the stipulated limits. For instance, if bodily injury costs from an accident are $75,000, the insurer pays $50,000 and you are responsible for the balance.
Cheapest Full Coverage Car Insurance in Toledo
The following are MoneyGeek’s picks for the best full coverage auto insurance companies:
- Erie: $554 per year
- Nationwide: $589 per year
The lowest-priced full coverage auto insurance provider in Ohio is Nationwide, with a yearly average cost of $485 as of October 2022. State Farm has the most expensive insurance premium for full coverage at $4,345 per year.
A full coverage policy protects you from paying huge amounts out of pocket in case of injury or vehicle damage during an accident. Full coverage policies include:
- Comprehensive Insurance: Pays for car damage due to non-collision incidents like theft, fires and harsh weather conditions.
- Collision Insurance: Pays for damages from collisions with objects and other cars.
Although a full coverage policy provides more protection, it may not be cost-effective if you own an older car.
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Cheapest Car Insurance in Toledo After a Driving Offense
If you have a speeding ticket, DUI or an at-fault accident on your driving record, the following companies offer you the most affordable full coverage auto insurance policies in Toledo:
- Speeding ticket: Erie ($607 per year)
- At-fault accident: Erie ($765 per year)
- DUI: American Family ($777 per year)
State Farm has the highest rates for these violations: $4,821 after a speeding ticket or DUI and $5,298 after an at-fault accident. Even the cheapest auto insurance will cost more if you have a violation on your record.
After a violation, auto insurance costs will increase relative to the seriousness of the offense. Generally, you will pay an average of $1,044 in Toledo for auto insurance with a clean record. A DUI increases the rate by about $636 per year, while a speeding ticket will increase the amount by about $214. Note that it is still possible to secure cheap auto insurance with a bad driving history if you shop around.
Cheapest Car Insurance in Toledo for Teens and Their Families
Out of the eight insurers we analyzed, the following offer the most affordable auto insurance if you’re adding a teen driver to your family policy in Toledo.
- Nationwide: $1,195 per year for female teens, $1,392 per year for male teens
- Allstate: $2,062 per year for female and male teens
State Farm offers the highest premium for teen drivers in Toledo, costing $13,794 for female teens and $17,654 for male teens. Because there’s a higher risk associated with insuring male teens, their auto insurance rates are often higher than those for female teenagers. However, the gender rate difference diminishes when people reach their early 20s.
Adding a teen to a family plan is more cost-saving than purchasing a separate policy. In Toledo, for instance, insuring a male teen costs about $5,355 per year, while adding them to a family plan will cost $2,828. That’s a difference of about $2,527 yearly. Families can save money by comparing quotes to find the most affordable auto insurance for teen drivers.
Cheapest Car Insurance in Toledo for Military Drivers
The following insurers offer the most affordable full coverage auto insurance for military personnel and their families:
- USAA: $534 per year
- Erie: $554 per year
With an average yearly cost of $208, Erie is the most affordable option in Toledo for drivers interested in minimum coverage. USAA provides exclusive policies to individuals with a military background. The insurer is the second cheapest for a minimum coverage policy, costing $218 per year.
How to Compare Cheap Toledo Car Insurance Quotes Online
To obtain an estimate of your auto insurance costs, you will need to compare several quotes based on your profile. Getting a quote from one insurer can take 15 minutes or longer. You will also need to provide a large amount of personal information. MoneyGeek’s insurance calculator can quickly estimate rates with just your driving history, age, car model and coverage needs.
Auto Insurance Calculator
See how the Average Annual Auto Insurance Rates vary with the options chosen.
Best Car Insurance in Toledo: Summary
The following companies in Toledo made it on MoneyGeek's list of the best auto insurance providers:
- Best overall: Cincinnati Insurance (MoneyGeek score of 85 out of 100)
- Best for service: Cincinnati Insurance (MoneyGeek score of 74 out of 100)
- Best cheap: Cincinnati Insurance (MoneyGeek score of 86 out of 100)
Our scoring system features different weightings for different categories. As such, the MoneyGeek score for an insurer may vary depending on the ranking category. Erie offers the best overall auto insurance in Ohio, scoring 85 out of 100, while USAA is one of the best if you have a military affiliation.
Best Overall Car Insurance in Toledo
Of the 12 companies we analyzed in Toledo, the following insurers provide the best overall auto insurance:
- Cincinnati Insurance: MoneyGeek score of 85 out of 100 ($945 per year)
- Erie: MoneyGeek score of 83 out of 100 ($554 per year)
Cincinnati Insurance took the top place as the leading provider of full coverage auto insurance overall for its excellent scores on claims, customer satisfaction and coverage options. USAA is also a great choice if you have a military affiliation, scoring 84 out of 100.
How was this MoneyGeek score calculated?
Outstanding customer satisfaction
Second-best for claims experience
Offers glass deductible modification, airbag reinstallation, lock replacement and new car replacement coverage
No accident forgiveness coverage
With the second-best claims management and top customer satisfaction scores, Cincinnati Insurance emerged as our overall top pick. The company also ranks well for coverage availability but is the third most expensive provider in Toledo.
Cincinnati Insurance offers a glass deductible modification add-on that waives the deductible for glass repairs after a covered loss. A unique coverage option from this insurer is airbag replacement, which pays the cost to replace your airbag if it accidentally deploys without an accident.
Cincinnati Insurance also pays up to $1,500 to replace your car locks if you notify the company within 72 hours of losing your keys. You can also purchase new car replacement coverage to ensure you get a brand-new vehicle if your car is totaled in a covered incident.
Best Car Insurance in Toledo for Customer Service
To identify the best insurers for customer excellence, we weighted all factors except affordability. Our top picks for insurers offering the best customer service in Toledo are:
- Cincinnati Insurance: MoneyGeek score of 74 out of 100 ($945 per year)
- Erie: MoneyGeek score of 70 out of 100 ($554 per year)
While Cincinnati Insurance rates the highest for service quality, it is the city’s third-most expensive, so policyholders are paying more for good customer service.
How was this MoneyGeek score calculated?
Ranked top for customer satisfaction
Third-best claims rating
Offers a safety restraint benefit
Provides child safety seat replacement, general deductible waiver and classic car insurance
Third most expensive company in the city
Lacks deductible modification and rideshare insurance
With high satisfaction, claims experience and coverage availability scores, Cincinnati Insurance is our recommendation for drivers who want the best customer experience.
The company offers to double your medical payments coverage limit if you or your passenger is injured while wearing a manufacturer-installed seat belt. This coverage also applies if you use a child’s safety restraining seat. Your policy must have medical payments coverage to be eligible. Cincinnati Insurance will also cover an installed child’s safety seat if it’s damaged during a covered incident.
Cincinnati Insurance’s general deductible waiver eliminates any applicable deductible if your car gets totaled due to a covered collision or non-collision loss. In addition, those with classic cars may find the insurer’s Capstone Collector Auto Coverage attractive.
Best Cheap Car Insurance in Toledo
MoneyGeek reviewed 13 minimum coverage car insurance providers and found that the following offer the best cheap coverage based on affordability and service quality:
- Cincinnati Insurance: MoneyGeek score of 86 out of 100 ($419 per year)
- Erie: MoneyGeek score of 84 out of 100 ($208 per year)
Although you pay the lowest premium for a minimum coverage policy in Toledo, you are likely to pay more out of pocket if you are involved in an accident where liability costs exceed your policy limits.
How was this MoneyGeek score calculated?
An affordable minimum coverage policy costs $419 per year
Highest customer satisfaction score
Second-best for claims handling
Offers bundling, multi-car, airbag and anti-lock brakes discounts
No distant student, defensive driving, paperless and driver’s education discounts
Cincinnati Insurance has the best cheap auto insurance in Toledo, costing an average of $419 for a minimum coverage policy. The insurer is the best for customer service and ranks third in claims management. It also offers an array of discounts to help customers save on auto insurance premiums.
Discounts from Cincinnati Insurance apply to any driver regardless of their driving history. Some standard discounts available with this insurer include safe driving, bundling, good student and multiple car discounts. You qualify for a bundling discount if you insure your car and home at Cincinnati Insurance. The multiple-vehicle discount applies if you lease or own several vehicles and insure them on the same policy. Safe driving benefits are for those who remain accident-free over time. Cincinnati Insurance also offers policyholders a discount for having anti-lock brakes.
Average Cost of Car Insurance in Toledo
Various factors, including your location, influence how much you pay for an auto insurance policy. As of October 2022, the average yearly auto insurance cost in Toledo is $1,044, exceeding Ohio's average car insurance cost by $112. Toledo's average is cheaper than the national average by $221. The rates in this study represent full coverage auto insurance with $100,000 as bodily injury liability per person, up to $300,000 per accident, and $100,000 per person for property damage liability.
About Mark Fitzpatrick