Shopping around for low-cost auto insurance is not always easy, and deciding which insurers offer the most affordable auto insurance rates for inexperienced drivers will require even more perseverance. Each auto insurance company has their own formula to set premium rates, so let’s begin by examining the most competitive auto insurance companies in Ohio.
Keep in mind that Cincinnati, OH auto insurance rates are impacted by many factors that control your annual premium. Events like a birthday, increasing deductibles, or getting a couple of tickets may cause policy rate changes resulting in some rates now being much cheaper than others.
Lowest Insurance Price Quotes for Newbies
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Frankenmuth | $680 |
| 3 | Erie | $687 |
| 4 | Allied | $697 |
| 5 | USAA | $711 |
| 6 | Travelers | $712 |
| 7 | Merchants Insurance Group | $748 |
| 8 | Cincinnati Insurance | $779 |
| 9 | Motorists Mutual | $792 |
| 10 | General Casualty | $813 |
| 11 | Grange Mutual | $828 |
| 12 | Central Mutual | $866 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $893 |
| 15 | Westfield | $908 |
| 16 | Atlantic States | $940 |
| 17 | Western Reserve | $941 |
| 18 | Progressive | $962 |
| 19 | Auto-Owners | $998 |
| 20 | Nationwide | $1,018 |
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Utica National may offer some of the lowest car insurance rates in Cincinnati at around $647 per year. Frankenmuth, Erie, Allied, and USAA also make the cut as some of the lowest-priced Cincinnati, OH insurance companies.
In the rate table above, if you currently buy coverage from Frankenmuth and switched to Utica National, you could earn annual savings of in the neighborhood of $33. Customers with Erie could save as much as $40 a year, and Allied policyholders might cut rates by $50 a year.
Understand that those prices are averages across all insureds and vehicles and do not factor in a specific location for inexperienced drivers. So the insurer that has the lowest price for you may not even be in the top 33 companies in the list above. That emphasizes why you need to compare as many prices as possible using your own driver data and vehicle information.
The vehicle model on the policy is a significant factor when comparison shopping for the lowest-priced insurance for inexperienced drivers. Vehicles with more horsepower, poor safety ratings, or a history of substantial liability claims will cost more to insure than more economical and safe models.
The data below presents coverage costs for a selection of the more affordable automobiles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Toyota Prius | $1,270 |
| Honda Accord LX-P 4-Dr Sedan | $1,316 |
| Hyundai Elantra GLS Touring Station Wagon | $1,326 |
| Ford Escape XLS 2WD | $1,316 |
| Honda CR-V EX-L 4WD | $1,345 |
| Dodge Grand Caravan SXT | $1,387 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,426 |
| Kia Optima LX | $1,457 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,477 |
| Dodge Ram Crew Cab ST 4WD | $1,484 |
| Ford Focus SE 2-Dr Coupe | $1,528 |
| GMC Sierra SLT Crew Cab 4WD | $1,555 |
| Chevrolet Malibu Hybrid | $1,557 |
| Toyota Camry LE | $1,562 |
| Toyota RAV4 Sport 4WD | $1,557 |
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rates do not factor in vehicle garaging location which can raise or lower coverage prices greatly.
Looking at the numbers, you can expect makes and models like the Toyota Prius, Honda Accord, and Hyundai Elantra are a few of the cheaper vehicles to insure for new drivers.
For new drivers, one of the largest things that are looked at to determine car insurance rates is where you keep your vehicle in Cincinnati. Areas with more people or even just a higher incidence of claims tend to have higher auto insurance costs, whereas more rural areas tend to receive cheaper rates.
The information below lists the most costly cities in Ohio for inexperienced drivers to purchase auto insurance in. Cincinnati makes the list at #5 with the annual price of $1,222 for the average policy, which is about $102 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Toledo | $1,279 |
| 2 | Youngstown | $1,273 |
| 3 | Cleveland | $1,259 |
| 4 | Columbus | $1,235 |
| 5 | Cincinnati | $1,222 |
| 6 | Cleveland Heights | $1,166 |
| 7 | Euclid | $1,164 |
| 8 | Dayton | $1,142 |
| 9 | Akron | $1,135 |
| 10 | Hamilton | $1,135 |
| 11 | Canton | $1,102 |
| 12 | Fairfield | $1,085 |
| 13 | Newark | $1,085 |
| 14 | Springfield | $1,061 |
| 15 | Middletown | $1,055 |
| 16 | Strongsville | $1,041 |
| 17 | Lakewood | $1,041 |
| 18 | Kettering | $1,040 |
| 19 | Cuyahoga Falls | $1,037 |
| 20 | Mansfield | $1,032 |
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Information shown are estimated as the specific geographic location can revise prices substantially.
Comparison of full coverage and liability-only policies
Saving on auto insurance is probably important to most drivers, and a great way to pay lower rates for insurance for inexperienced drivers is to only buy liability coverage. The chart below shows the comparison of auto insurance rates with and without full coverage. The information is based on no violations or claims, $500 deductibles, drivers are single, and no discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage on your policy costs an additional $1,077 per year more than just insuring for liability. That proposes the question when is the right time to remove full coverage. There is no clear-cut formula to exclude comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
There are some conditions where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you have to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Get discounts on Cincinnati insurance rates
Car insurance companies that provide coverage for inexperienced drivers may also provide premium discounts that may potentially lower prices by as much as 30% if you are eligible to receive them. A list of companies and a summarized list of policyholder discounts can be read below.
- State Farm includes discounts for accident-free, multiple autos, Steer Clear safe driver discount, passive restraint, good driver, and anti-theft.
- GEICO offers discounts for seat belt use, good student, membership and employees, multi-policy, and daytime running lights.
- SAFECO discounts include homeowner, accident prevention training, anti-lock brakes, drive less, multi-car, and teen safety rewards.
- Farmers Insurance may include discounts for distant student, alternative fuel, youthful driver, bundle discounts, good student, teen driver, and electronic funds transfer.
- AAA has savings for anti-theft, multi-car, education and occupation, good student, and pay-in-full.
- USAA policyholders can earn discounts including military installation, annual mileage, driver training, family discount, safe driver, and loyalty savings.
The chart below compares insurance rates with and without discounts. The data assumes a female driver, no violations or accidents, Ohio state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with claim-free, marriage, passive restraint, multiple vehicle, safe-driver, and multiple policy discounts applied. When discounts are applied, the average savings per year on auto insurance for inexperienced drivers is 27% or $376.
The information below highlights how deductible choice can influence insurance prices when trying to find cheap insurance for inexperienced drivers. The prices are based on a single female driver, comp and collision included, and no additional discounts are factored in.
The data above shows that a 30-year-old driver could lower rates by $280 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $420 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old, could shave as much as $624 annually by choosing a larger deductible amount.
When insureds make the decision to increase the deductibles on their policy, it will be necessary to have plenty of money set aside to pay the extra out-of-pocket expense associated with higher deductibles.
How to find cheaper car insurance for inexperienced drivers
Here are many thrifty solutions that can help you locate lower-cost auto insurance.
- Avoid accidents and claims
- Buy a safer vehicle
- Save money by insuring your home and auto with the same company
- Violations and traffic tickets increase rates
- If possible, pay for small claims out-of-pocket
- Shop around and save
The last item on the list is very critical, as we hit on in this article. Auto insurance rates in Cincinnati change a lot, so drivers shouldn’t hesitate to change insurance companies if you can save money. Staying with the same company for years is fine, but it’s not a good idea if that dedication is costing hundreds of dollars year after year. In just a few minutes you could shop around to find cheaper insurance for inexperienced drivers.