When shopping for car insurance in Ohio, it’s essential to be aware of all factors that could influence your rates. Your age and credit score, driving history and vehicle all play a role in determining how much your policy will cost you.
WalletHub’s Car Insurance Calculator will assist you in calculating how much coverage is necessary for your vehicle and any damages it could cause. Plus, it lets you compare quotes from multiple providers at once.
State Minimum Requirements
Ohio requires drivers to carry a minimum of $25,000 per person and $50,000 per accident in liability coverage, as well as $25,000 in property damage liability. Many motorists opt for higher coverage limits in order to safeguard their own vehicles and financial assets in case an accident occurs.
Younger Drivers tend to Pay More
Age and driving experience will determine your rate for car insurance in Ohio; according to WalletHub’s data, 16-year-olds typically pay an average of $3,637 for full coverage car insurance while 30-year-olds typically pay $1,107.
Good Drivers Can Enjoy Lower Rates
Insurance companies generally consider drivers who haven’t received any citations and never been in an accident to be “good drivers”. Although having an infraction on your record may raise your insurance rates, it is usually avoidable.
The Economy Drives Auto Insurance Prices
Insurers set their rates based on the cost of repairing and replacing your car, which can be driven up due to supply chain issues that make repairs more expensive due to lack of efficiency, as well as other factors. Dean Fadel, president of Ohio Insurance Institute, noted that rising prices and supply-chain problems could result in an overall increase in insurance costs of between 3%-10% for everyone.
Where You Live Can Impact Your Premiums
Your zip code has an impact on how much you pay for car insurance in Ohio. Residents of rural areas in the north tend to have lower rates than those living in urban centers.
High-Risk Drivers Can Pay More
High-risk drivers tend to have a driving record that includes accidents or tickets. As such, they tend to carry higher insurance premiums since they’re more likely to file claims.
They’re more likely to have poor credit and a history of theft. A lack of credit may make it harder to obtain low-interest loans, thereby raising the price tag on your policy.
Avoid higher rates by selecting a vehicle with lower risk, such as a compact SUV or an economical model of your current car. Furthermore, insurance companies offer discounts for safe drivers like the Good Student Discount or Multi-Car Discount; both can help you save money.
You can also use the Ohio Car Insurance Calculator to compare rates from several insurance companies in your area. This will enable you to find a provider offering the optimal combination of price and features tailored specifically for you.