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You can use MoneyGeek’s car insurance calculator to get a quick estimate of how much car insurance will cost in Ohio.
Multiple factors affect car insurance premiums in the state. MoneyGeek evaluated major car insurers and identified the factors that play the most important role in determining car insurance rates in Ohio.
Ohio Car Insurance Calculator: How it Gets You an Instant, Free Estimate
Usually, it takes around 10 to 15 minutes to get a car insurance quote from car insurers as it involves entering personal, vehicle and other information.
MoneyGeek’s car insurance calculator Ohio provides a ballpark figure of car insurance premiums based on your age, driving history, the type of vehicle you are driving, your credit score and other factors.
In Ohio, adding a teen driver to your policy affects your premiums the most, followed by your age and credit score. These three factors affect your premiums more than any other factors.
The most affordable company in Ohio may vary according to several factors, but our calculator found that Erie is the most affordable, widely available option in the state at roughly $276 per year.
While it is important to consider the price while buying the insurance, you also want to pick a company that has great service and the coverages you need.
You can browse our collection of sample drivers or use our insurance calculator to find the cheapest car insurance in Ohio.
We have analyzed the average cost of car insurance in Ohio to help you compare how much car insurance costs in Ohio compared to other states.
If you are looking for the best car insurance company in Ohio that provides top-notch services at affordable prices, we have analyzed this information for you.
How Car Insurance Premiums are Calculated in Ohio
When calculating insurance premiums, car insurers consider multiple factors such as the age of the driver, coverage levels, driver’s profile, type of vehicle and more.
According to MoneyGeek’s analysis, the most important factors car insurers consider for calculating insurance premiums in Ohio are adding a teen driver to the policy, the age of driver and the driver’s credit score.
Adding a teen driver to your insurance policy in Ohio can increase your premiums by 3.1x, making it the most influential factor when determining premiums.
How Much Adding A Teen Driver Matters in Calculating Car Insurance in Ohio
Auto insurers tend to charge higher premiums when adding teen drivers to your policy because teen drivers lack experience. This means they are more likely to have accidents and are riskier to insure.
In Ohio, adding a teen driver can multiply the premiums up to 3.1x.
How Much Age Of Driver Matters in Calculating Car Insurance in Ohio
The driver’s age is another important factor that insurers consider when determining car insurance premiums in Ohio. Young drivers between the ages of 19 and 20 in Ohio pay the highest rates, while middle-aged drivers around the age of 40 can get the most affordable rates.
Premiums in Ohio can increase up to 2.6x based on the driver’s age.
How Much Credit Score Matters in Calculating Car Insurance in Ohio
Insurers evaluate credit scores when determining car insurance premiums in Ohio. Higher credit scores tend to receive lower car insurance rates as those drivers are less risky to insure.
Your premiums can go up by 2.1x if you have a poor credit score in Ohio. Drivers with excellent credit get the cheapest rates.
How Much Car Model Matters in Calculating Car Insurance in Ohio
If you are driving a luxury vehicle, your insurance premiums could be on the higher side as the spare parts, repairs and replacement costs are higher for premium cars. On the other hand, for compact SUVs, the repair costs are lower, making the premiums tend lower as well.
The type of vehicle you drive in Ohio can increase your premiums up to 2x.
How Much Coverage Levels Matters in Calculating Car Insurance in Ohio
Your coverage levels also matter to the insurers when they calculate your premiums. If you are getting higher coverage levels or adding more protection, your premiums will go up. In Ohio, a liability-only policy that meets the state minimum limits is the most affordable option, while full coverage car insurance with liability limits of 100/300/100 is the most expensive coverage you can buy.
Car insurance premiums can increase by 1.9x for higher coverage levels in Ohio.
How to Calculate How Much Car Insurance You Need in Ohio
The coverage level you need matters a lot when determining car insurance rates in Ohio. It is one of the biggest factors insurers consider. It is important to get an idea of how much coverage you need in Ohio to find the best policy that strikes a balance between protection and cost.
In Ohio, bodily injury liability and property damage liability are mandatory coverages for every driver. However, it is important to evaluate whether you need comprehensive and collision insurance or not based on your unique situation.
Understand Ohio car insurance requirements
By analyzing the Ohio minimum car insurance requirements, you can figure out how much insurance coverage is mandatory in the state. The state minimum levels will only cover $25,000 in bodily injury liability per person and $50,000 in bodily injury liability per accident, along with $25,000 in property damage liability per accident.
If you need more coverage, you should increase your limits to get better protection. Additionally, in Ohio, it is not mandatory to buy comprehensive and collision damage coverage, which is something you may want to consider.
Consider Purchasing Additional Liability Insurance
If you are getting the state minimum coverage, then you will only get the basic protection against possible expenses in an accident. However, in case of a major accident, the state minimum coverage may fall short. As a result, you need to evaluate how much coverage you need based on your situation.
A full-coverage policy in Ohio protecting you for up to $300,000 in bodily injury liability per accident costs an average of $511 per year, compared to roughly $406 for the state minimum liability insurance.
Decide whether or not to buy comprehensive and collision insurance
You will need to decide whether you need a full coverage policy, which will include comprehensive and collision insurance. While these coverages are not required by Ohio law, lenders may require them if you are financing the purchase of your car or leasing it.
If you are adding comprehensive and collision insurance with a $1,000 deductible, it will cost you around an average of $228 more per year in Ohio.
Keep in mind that you may not want to pay this extra amount each year if your car is not worth much.
Consider buying additional protection besides these core coverages
Ohio doesn’t require uninsured/underinsured motorist coverage. However, you can buy it as an affordable way to protect against these motorists as 13% of drivers in Ohio are uninsured.
In Ohio, you don’t have to have personal injury payments. Instead, drivers may have the option to buy medical payments coverage to protect against the cost of medical expenses in a crash.
Frequently Asked Questions About How Car Insurance is Calculated in Ohio
To help you get a quick estimate using MoneyGeek’s car insurance calculator, we’ve answered some of the most frequently asked questions about how car insurance is calculated in Ohio.
Methodology
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Ohio. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick
