Cheap Ohio Low-Income Car Insurance for Families and Individuals

Ohio does not have a government program to help low-income drivers buy car insurance. MoneyGeek’s research shows Erie is the state’s most affordable car insurance provider for low-income individuals and families.

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Last Updated: 4/19/2022
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Car insurance companies in Ohio do not use your income when calculating their rates. The most significant factors that affect the price of insurance premiums in the state are your age, the coverage level you select, your credit score and adding a teen driver to your policy. MoneyGeek analyzed the cheapest car insurance companies in Ohio for low-income individuals and families, comparing rates for drivers with poor and good credit scores.

Is There Car Insurance for Low-Income Families and Individuals in Ohio?

Ohio doesn’t have a government program to assist low-income individuals with their car insurance. Some 13% of drivers in Ohio are uninsured. Many don’t buy car insurance because they find it too expensive.

The most affordable traditional car insurance for low-income individuals in Ohio is minimum coverage policies. For low-income folks who don’t drive often, pay-per-mile policies may also be a cheap option to consider.

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Does Ohio Have a Government Program to Support Low-Income Drivers with Insurance?

Like most U.S. states, Ohio doesn’t offer government assistance to low-income individuals seeking car insurance. However, drivers should still purchase car insurance to ensure they are financially protected in case of an accident.

Shopping around and comparing quotes from several car insurance providers is the best way to find affordable car insurance. MoneyGeek broke down Ohio’s cheapest car insurance companies for low-income individuals to help folks find an offer that meets their needs and budget.

The Cheapest Ohio Car Insurance Companies for Low-Income Drivers

Insurance providers in Ohio don’t use income when determining car insurance rates, but they do look at income-related factors. For instance, your age and credit score significantly affect car insurance costs.

The cheapest available car insurance for low-income people in Ohio is minimum coverage policies. MoneyGeek found that low-income families, adults, students and seniors can purchase the cheapest policies from Erie.

We analyzed the most affordable minimum coverage policies for low-income individuals and families of different ages.

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The Cheapest Ohio Car Insurance Companies for Low-Income Families

Although your income does not affect your car insurance rates, your credit score does.

For example, a single parent with a bad credit score pays $1,079 higher per year for their car insurance compared to their counterpart with a good credit score. Likewise, an average couple with a child pays $1,410 more per year for their car insurance if they have a poor instead of good credit score.

MoneyGeek’s research indicates single parents with poor credit scores can look to the following insurers for the most affordable car insurance policies:

  • Erie: $1,426 per year
  • State Farm: $1,802 per year

Similarly, the cheapest car insurance policies in Ohio for couples with a child and poor credit scores come from:

  • Erie: $1,934 per year
  • GEICO: $2,599 per year

USAA also offers affordable rates for low-income drivers, but it’s only available for military members and their families.

Not everyone who has a low income has a poor credit score. Use the table below to find the cheapest offers per profile.

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  • Company
    Annual Rates
  • USAA
    $744
  • Erie
    $814
  • State Farm
    $1,029
  • GEICO
    $1,150
  • American Family
    $1,320
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The Cheapest Ohio Car Insurance Companies for Low-Income Individuals

Car insurance for a 40-year-old driver with a poor credit score in Ohio is $361 more per year than with a good credit score.

In Ohio, the cheapest car insurance provider for low-income individuals with a poor credit score are:

  • Erie: $495 per year
  • GEICO: $597 per year

Low-income individuals can also buy affordable car insurance from USAA but it is exclusive to active and retired military personnel and their families.

A low-income individual doesn’t necessarily have a poor credit score. In Ohio, low-income folks with good credit scores can purchase car insurance from Erie for approximately $283 per year and from GEICO for around $341 per year.

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  • Company
    Annual Rates
  • USAA
    $245
  • Erie
    $283
  • GEICO
    $341
  • State Farm
    $354
  • Progressive
    $446

The Cheapest Ohio Car Insurance Companies for Low-Income Students

Young drivers have less driving experience than most adults, so insurance companies consider them riskier to insure. Driving inexperience, not low income, is why student drivers have higher rates.

MoneyGeek found that in Ohio, low-income students with poor credit scores can find the most affordable policies from these car insurance providers:

  • Erie: $1,292 per year
  • GEICO: $1,557 per year

USAA also provides cheap policies for low-income students, but it’s only available for military members and their families.

Not all low-income student drivers have a poor credit score. In Ohio, the average cost of car insurance for a student driver with a good credit score from Erie is $737 per year and from GEICO is $889 per year.

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $639
  • Erie
    $737
  • GEICO
    $889
  • State Farm
    $922
  • Progressive
    $1,163

The Cheapest Ohio Car Insurance Companies for Low-Income Seniors

Generally, car insurance is slightly more expensive for seniors than for middle-aged drivers. Aside from their age, a senior’s credit score greatly influences the price of their insurance premiums.

For instance, an average 70-year-old driver in Ohio pays $402 higher per year by having a poor credit score instead of a good credit score.

MoneyGeek’s research show that the following insurers in Ohio offer the cheapest car insurance policies for low-income seniors with poor credit scores:

  • Erie: $512 per year
  • State Farm: $620 per year

Low-income seniors can also look at USAA for affordable car insurance policies, but only active and retired military personnel and their families can get insurance through USAA.

A low income doesn’t necessarily result in a poor credit score. In Ohio, a low-income senior with a good credit score can purchase car insurance from Erie for approximately $292 per year and from State Farm for about $354 per year.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • Erie
    $292
  • USAA
    $293
  • State Farm
    $354
  • GEICO
    $430
  • Progressive
    $474

Does Income Affect Car Insurance Rates in Ohio?

Insurance companies can’t factor your income when determining car insurance rates in Ohio. However, insurers look at income-related factors, and those can affect the price of insurance premiums.

For example, younger drivers usually have low incomes since they’re still attending school or just starting their careers. They also have higher insurance premiums, but that’s not because of their low income. Instead, it’s because insurance companies consider them riskier to insure due to their lack of experience on the road.

MoneyGeek evaluated factors related to income and how they affect car insurance rates in Ohio. Our research found that the following have the most substantial influence:

  • Adding a teen driver.
  • Age of driver.
  • Credit score.

Insurance companies also consider other factors such as your car model and the coverage level you select when pricing their policies.

  • Factor
    How it Affects Your Rates
  • Adding a Teen Driver

    In Ohio, adding a teen driver has the biggest impact on car insurance rates, increasing the cost by 3.1x.

  • Age of Driver

    A driver’s age also affects car insurance rates, making premiums 2.6x pricier.

  • Coverage Levels

    In Ohio, the coverage level selected can raise the cost of insurance by 1.9x.

  • Car Model

    In Ohio, a driver’s car model can make their insurance twice as expensive.

  • Credit Score

    In Ohio, a poor credit score can make your insurance rates 2.1x more expensive than drivers with excellent credit.

Frequently Asked Questions About Low-Income Car Insurance in Ohio

MoneyGeek answers some frequently asked questions to help low-income individuals in Ohio find cheap car insurance that fits their needs and budget.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Ohio using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple each 40 years old or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Ohio.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.