Cheapest Car Insurance Companies in Columbus, OH (2023 Rates)
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By, Content Director
By, Director, Corporate Communications, Insurance Information Institute
Your profile and needs can determine which car insurance company is the cheapest for you.
Erie is the cheapest insurer in Columbus for minimum coverage. Nationwide is the cheapest for full coverage, teens, seniors and those with bad credit. American Family has the best rates for those with OVIs, accidents and young drivers. Auto-Owners is the cheapest for tickets, State Farm for sports cars and USAA for military families.
Cheapest Car Insurance in Columbus, OH
Cheapest Minimum Coverage Car Insurance in Columbus
The most affordable car insurance companies for a minimum coverage policy in Columbus are:
- Erie: $216 per year
- Nationwide: $258 per year
State Farm is the most expensive insurer in the city, with an annual premium of $2,238.
Nationwide is also the cheapest car insurance company in Ohio, with an annual average premium of $226. This slightly lower rate illustrates that location can impact premiums.
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In Ohio, car insurance policies must meet the state's minimum liability limits for bodily injury liability and property damage liability. The amounts are as follows:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Insurance coverage is important for getting financial protection if you hurt or damage someone else. It pays $50,000 per person and $100,000 per accident. If you cause an accident and the expenses are higher than these limits, you’ll pay any remaining amount yourself.
Cheapest Full Coverage Car Insurance in Columbus
The cheapest auto insurance providers for a full coverage policy in Columbus, Ohio, are:
- Nationwide: $511 per year
- American Family: $561 per year
State Farm is the most expensive auto insurance provider for a full coverage policy in the city. Its annual premium costs $3,393. Nationwide is also the cheapest insurer in Ohio, costing an average of $485 annually.
Car insurance rates can vary a lot depending on where you live. The risk of accidents, traffic congestion, crime (e.g., vehicle theft and vandalism) and weather conditions all influence your area’s risk.
A full coverage car insurance policy includes comprehensive and collision coverage in addition to liability coverage and is the best way to financially protect your vehicle and minimize potential losses.
- Comprehensive coverage: Protects against weather hazards, theft, vandalism and fire.
- Collision coverage: Provides protection against damages from accidents with other cars or objects, such as a tree, fence or light pole. It also covers rollover accidents.
A full coverage policy might not be worth the extra cost for older vehicles with low values.
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Cheaper insurers could pocket you hundreds of dollars per year.
Cheapest Car Insurance in Columbus After a Driving Offense
The cheapest car insurance companies after driving violations in Columbus are:
- Speeding ticket: Auto-Owners ($613 per year)
- At-fault accident: American Family ($733 per year)
- DUI: American Family ($706 per year)
State Farm is the priciest for drivers with an OVI (Ohio does not use DUI), speeding ticket and at-fault accident. The annual premiums for OVI and a speeding ticket cost $3,765, while it charges $4,137 for an at-fault accident.
A bad driving record can make insurance pricier. The cheapest car insurance companies may charge higher rates for drivers with bad records than for safe drivers.
Your car insurance rates are likely to increase if you speed, get an OVI or cause an accident. More severe violations can result in steeper hikes.
In Columbus, rates for someone with a speeding ticket cost around $193 more, while an OVI could raise your rates by $577.
Insurance rates can vary depending on factors like location and driving history, but drivers with poor driving records should look for coverage that is reasonable and offers adequate protection.
To avoid paying more for car insurance after your first at-fault accident, include accident forgiveness on your auto policy. With this optional coverage, you won't see a premium increase with a clean motor vehicle record prior to the accident. You can even earn accident forgiveness with certain companies — GEICO and Progressive are two examples. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute
Cheapest Car Insurance in Columbus for Teens and Their Families
The most affordable car insurance providers for teens on a family policy in Columbus are:
- Nationwide: $966 per year for female teens, $1,124 per year for male teens
- Progressive: $1,807 per year for female teens, $2,017 per year for male teens
In contrast, State Farm is the costliest insurance provider for teens on a family policy. The annual premiums cost $9,693 for female teens and $12,405 for male teens.
Car insurance companies typically consider young male drivers to be more risky to insure, resulting in higher premiums. The $159 price difference from Nationwide illustrates this. This discrepancy goes away in early adulthood.
It is much cheaper to add a teenage driver to your current family car insurance policy than to get a separate policy for them, and if they are under 18, they must have a parent or guardian as a co-signer to get auto insurance legally.
You could save up to $2,527 annually with a family policy in Columbus. When you're looking for affordable car insurance for your teen, shop around and look for discounts.
Cheapest Car Insurance in Columbus for Military Drivers
The cheapest car insurance for current or former military members and their families who want full coverage in Columbus is with the following:
- USAA: $447 per year
- Nationwide: $511 per year
USAA and Erie rank as the most affordable insurance providers for minimum coverage, with annual premiums costing $188 and $216, respectively.
How to Compare Cheap Columbus Car Insurance Quotes Online
In Columbus, comparing car insurance quotes online can be a time-consuming process that requires you to share a lot of information. Getting a quote can take up to 15 minutes per insurer.
MoneyGeek's car insurance calculator can give you a ballpark estimate based on basic information such as your age, vehicle type, coverage level and driving record. Our tool helps you save time and money when shopping for car insurance.
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Cheapest Car Insurance in Columbus for Young Adults
The cheapest car insurance for young drivers in Columbus who need full coverage is with the following:
- American Family: $580 per year
- Nationwide: $618 per year
The priciest auto insurance with a full coverage policy is State Farm, which has an annual premium of $4,312.
Car insurance for young adults is pricier than for those aged 40 due to a combination of factors. Insurance companies often view younger drivers as being at higher risk because of their inexperience and potential impulsivity. For drivers aged 40, it is $227 cheaper to purchase full coverage car insurance than for younger drivers.
Cheapest Car Insurance in Columbus for Seniors
In Columbus, the cheapest car insurance companies for seniors with a full coverage policy are:
- Nationwide: $475 per year
- American Family: $532 per year
State Farm is the most expensive option at around $3,176 annually. Senior drivers may pay more for car insurance than 40-year-olds because premiums often go up after 65. As people get older, their physical and cognitive abilities decline, which increases the risk of accidents and results in higher insurance costs.
But in Columbus, MoneyGeek found that insurance for seniors costs less than insurance for people who are 40 for about $37 less a year.
Cheapest Car Insurance in Columbus for Poor Credit
The cheapest car insurance companies for drivers with poor credit and a full coverage policy in Columbus, Ohio, are:
- Nationwide: $685 per year
- Grange Insurance: $906 per year
The priciest auto insurance for drivers with poor credit is State Farm. Its annual premium costs $7,593. Drivers with poor credit pay around 85% more than those with good credit, equating to a $778 difference.
Insurance companies have found that people with lower credit scores are more likely to file more claims, which leads to higher premiums.
If you have poor credit, you can save money on insurance by looking for popular discounts, bundling policies and comparing quotes from several insurers. Working on improving your credit score over time can also help lower those costs.
Cheapest Car Insurance in Columbus for Sports Cars
The most affordable car insurance companies for drivers with sports cars and a full coverage policy in Columbus are:
- American Family: $518 per year
- Auto-Owners: $626 per year
State Farm is the priciest insurance provider in the city for sports cars. Its annual premium costs $4,114.
In Columbus, the average cost of full coverage for a Toyota Camry is $917 per year, while it’s $1,115 for a Mustang. This is a $198 difference, which is 22% higher. Keep in mind that costs vary in different cities because of some factors.
We used a Ford Mustang to compare insurance prices, but insurance prices may vary by model. Luxury, electric and sports cars generally have higher insurance costs than other vehicles.
Average Cost of Car Insurance in Columbus
In Columbus, the average cost of car insurance for full coverage is $917 annually. This includes $100,000 in bodily injury liability per person, $300,000 in bodily injury liability per accident and $100,000 in property damage liability per accident.
The average car insurance cost in the city is $16 lower than the average full coverage cost in Ohio. The national average car insurance premium is $1,265 annually. Car insurance companies take several factors into consideration when calculating premiums, including location.
About Mark Fitzpatrick