The average car insurance rate in Toledo is $837 yearly, which is more expensive than the state average. The cheapest widely available insurer for average drivers is GEICO, but MoneyGeek also analyzed the cheapest options across various coverage levels and driver profiles. For drivers looking to balance costs and quality, MoneyGeek also ranked the best car insurance providers in Toledo.
Compare the Cheapest Car Insurance Quotes in Toledo, OH
The Cheapest and Best Car Insurance in Toledo
The Cheapest Car Insurance Companies in Toledo
The insurers with the cheapest average rates for a full coverage auto policy in Toledo are:
- USAA: $526 annually (only available for current and former military)
- GEICO: $580 annually
Out of all of the car insurance companies in Toledo, the most affordable company on average is USAA. Since USAA’s products are limited to only members of the U.S. military and their families, the general public should instead consider the second most affordable car insurance company in Toledo, which is GEICO. For most drivers, a GEICO policy is approximately half as expensive as similar coverage with MetLife, the most expensive car insurance company in Toledo.
For you to get the most accurate car insurance quotes in Toledo, you can request a personalized quote from the top five most affordable insurance providers in the city: USAA, GEICO, Erie, American Family and State Farm.
To facilitate this study, MoneyGeek used a sample 40-year-old male driver profile to collect average car insurance rates in Toledo. The sample driver has a full coverage policy including liability and comprehensive and collision coverage.
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Average Cost of Car Insurance in Toledo
In Toledo, the average car insurance rate is $837 annually, which is slightly higher than the state of Ohio’s average annual cost but it’s also lower than the national average. Generally speaking, drivers living in Toledo pay around 4.3% more than Ohio’s $803 average annual cost of car insurance. Toledo policyholders also pay about 41.2% less than the nationwide average of $1,424 per year.
The Best Car Insurance Companies in Toledo
If you are a Toledo driver looking for a car insurance provider that balances quality service and affordable costs, MoneyGeek ranked the best companies in the city. Based on MoneyGeek’s research, the top companies for most drivers are:
- Erie: MoneyGeek score 95 out of 100
- Hartford: MoneyGeek score 88 out of 100
USAA received the highest score in Toledo by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
To find these final scores out of 100, MoneyGeek used several factors, including J.D. Power ratings for user satisfaction, affordability and financial stability.
Personalized Quotes to Get You the Cheapest Car Insurance in Toledo
Generally speaking, insurance providers in Toledo consider several factors when determining your car insurance quotes: your age, driving record, marital status, coverage level and make and model of your vehicle are just a few of them.
In Toledo, if you’re an 18-year-old male driver, Erie may give you an average annual premium of $1,733 for your car insurance policy — nearly three times more expensive than similar coverage from the same company for a 40-year-old male driver.
To check if you qualify for company-specific promotions and discounts that can help save you money, you need to regularly request personalized quotes from several car insurance companies in Toledo.
Shopping around for car insurance in Toledo could save you $257, which is enough to buy:
Cheapest Car Insurance in Toledo by Coverage Amount
In Toledo and elsewhere, how much coverage you choose to purchase influences how much your car insurance policy costs. For example, a state minimum liability policy costs an average of $515 per year. A full coverage policy with higher liability limits costs $837 on average. That is a difference of $322.
Ohio Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
Should you get a liability-only plan, or do you think a full-coverage policy is better for you? In Toledo, GEICO has both 50/100/50 liability-only and full-coverage plans, which cover $50,000 worth of medical bills from bodily injury per person, covering a maximum of $100,000 per vehicle, together with $50,000 worth of property damage repair.
If you get a full-coverage plan with the same limits — but also covers your own expenses — you need to pay an extra $163 on average. Getting a full-coverage plan, in this case, seems prudent because the difference in the costs between the two coverage types is minimal.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in Toledo if You Have Driving Violations
As mentioned, your driving record can affect how much you’ll pay for your premiums. The cleaner your driving record is, the better rates you may receive. For instance, the average Toledo driver who gets a policy from Travelers has an average annual premium of $886 if they have a clean record. However, if the driver has a speeding ticket, they will need to pay about $336 more for similar coverage with the same car insurance company.
A DUI on a driver’s record can also significantly influence the cost of car insurance. Drivers in Toledo with a clean record will pay an average of $893 for a policy with Nationwide, but drivers with a DUI on their record will pay an average of $672 more for similar coverage.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
Different neighborhoods have different levels of car-related incidents such as theft, accidents and uninsured motorists, so the cost of premiums varies by location. In Toledo, the average car insurance premium is between $824 and $850. Drivers who live in Toledo’s most affordable neighborhood for auto coverage — 43615 — will pay about $26 less in annual premiums than policyholders who live in ZIP code 43612.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Toledo
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Toledo. How Toledo ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Toledo are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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