For minors, one of the big things that are looked at to determine the cost of insurance is where you choose to live in Cincinnati. Regions with larger populations or more claims will most likely pay more, whereas less populated areas receive better rates.
The table below shows the most expensive places in Ohio for drivers under 21 to purchase a policy in. Cincinnati is listed at #4 with the yearly price of $1,222 for the average policy, which is approximately $102 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Youngstown | $1,247 |
| 2 | Toledo | $1,241 |
| 3 | Cleveland | $1,235 |
| 4 | Cincinnati | $1,222 |
| 5 | Columbus | $1,199 |
| 6 | Euclid | $1,175 |
| 7 | Cleveland Heights | $1,166 |
| 8 | Dayton | $1,142 |
| 9 | Hamilton | $1,135 |
| 10 | Akron | $1,123 |
| 11 | Springfield | $1,105 |
| 12 | Canton | $1,091 |
| 13 | Lakewood | $1,063 |
| 14 | Fairfield | $1,063 |
| 15 | Newark | $1,053 |
| 16 | Middletown | $1,035 |
| 17 | Parma | $1,027 |
| 18 | Beavercreek | $1,027 |
| 19 | Kettering | $1,020 |
| 20 | Strongsville | $1,011 |
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Rate quotes are estimated as the specific garaging location can influence premiums substantially.
Deciphering which companies have the lowest-priced car insurance rates for drivers under 21 involves a tad more effort than just quoting one company’s rates.
Each company has a proprietary formula for filing rates in each state, so we will examine the car insurance companies that tend to have lower prices in Ohio.
Cheap Insurance Rates for Minors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $635 |
| 2 | Erie | $667 |
| 3 | Allied | $669 |
| 4 | Frankenmuth | $701 |
| 5 | Travelers | $705 |
| 6 | USAA | $711 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $771 |
| 9 | Grange Mutual | $804 |
| 10 | Motorists Mutual | $816 |
| 11 | General Casualty | $837 |
| 12 | State Farm | $858 |
| 13 | Central Mutual | $866 |
| 14 | Hastings Mutual | $866 |
| 15 | Atlantic States | $904 |
| 16 | Westfield | $936 |
| 17 | Western Reserve | $961 |
| 18 | Progressive | $962 |
| 19 | Auto-Owners | $968 |
| 20 | American Family | $1,021 |
| Find Cheaper Rates Go | ||
Utica National may offer some of the cheapest car insurance rates in Cincinnati at around $635 a year. This is $405 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also rank well as some of the lowest-priced Cincinnati, OH auto insurance companies.
As depicted above, if you have coverage with Travelers and switched to Erie, you may realize savings of roughly $38. Policyholders with USAA could save as much as $44 a year, and Cincinnati Insurance customers might realize rate reductions of up to $82 a year.
These premium estimates are averages across all insureds and vehicles and do not factor in a specific vehicle garaging location for drivers under 21. So the car insurance company that fits your situation best may not even be in the top 33 companies shown above. That’s why you need to get rate quotes using your own personalized driver profile and vehicle information.
The type of vehicle you are trying to insure is probably the most important factor that determines the availability of low-priced insurance for drivers under 21. Vehicles with lots of horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than more economical and safe models.
The data below outlines auto insurance rates for the most budget-friendly vehicles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $2,740 |
| Honda Accord LX-P 4-Dr Sedan | $2,747 |
| Honda CR-V EX 2WD | $2,740 |
| Toyota Prius | $2,996 |
| Ford Explorer XLT 4WD | $3,072 |
| Dodge Grand Caravan SE | $3,082 |
| Ford Edge SEL AWD | $3,206 |
| Chevrolet Impala LT | $3,247 |
| Toyota Camry LE | $3,252 |
| Toyota RAV4 Limited 4WD | $3,247 |
| Chevrolet Equinox LT AWD | $3,253 |
| Ford F-150 SVT Raptor Super Cab 4WD | $3,287 |
| Toyota Tacoma Double Cab 4WD | $3,292 |
| Honda Civic LX-S 4-Dr Sedan | $3,381 |
| Hyundai Elantra Blue 4-Dr Sedan | $3,391 |
| Compare Cheap Rates Go | |
Prices above based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in vehicle location which can decrease or increase auto insurance rates greatly.
Looking at the rates, we can expect vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Toyota Prius are going to be some of the most economical vehicles to insure for minors. Prices will be more costly just due to the fact that there is more exposure for drivers under 21, but in general those particular models will most likely have the best insurance prices possible.
The example below shows how choosing a deductible can impact insurance premiums when quoting cheap insurance for drivers under 21. The data assumes a single male driver, full physical damage coverage, and no policy discounts are applied.
A 30-year-old driver could lower their car insurance rates by $210 a year by switching from a $100 deductible to a $500 deductible, or save $318 by selecting a $1,000 deductible. Even younger insureds, like the Age 20 category, could reduce their rates $612 annually just by choosing higher deductibles. When using a larger deductible, it will now be necessary to have plenty of money set aside to enable you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Full coverage rates vs. liability-only
Paying a lower price for car insurance is important to most people, and a great way to save on the cost of insurance for drivers under 21 is to only buy liability insurance. The example below compares insurance premiums with full physical damage coverage compared to only buying liability only. The price estimates are based on no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are factored in.
On average, physical damage insurance costs an additional $1,750 per year more than insuring for liability only. That brings up the question when is it a good idea to stop buying full coverage. There is no written rule that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your vehicle’s replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $3,000 after the deductible is paid. If it’s costing you more than $300 a year for full coverage, then it might be time to consider dropping full coverage.
There are some situations where only buying liability is not a good idea. If you still owe money on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage.
Ending up with a high-quality car insurance company can be challenging considering how many choices you have in Cincinnati. The company information displayed below could help you select which auto insurance companies to look at when comparing auto insurance rates for drivers under 21.
These rankings are only made up of major nationwide insurance companies, so smaller companies that only insure vehicles in Ohio are not taken into consideration for this list. If you would like to check rates from these top insurers and more, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
A good deal can quickly turn bad
Cincinnati, OH car insurance rates are impacted by many things that may substantially change the cost of coverage. Getting older, buying higher coverage limits, or getting a speeding ticket may prompt premium changes resulting in some rates now being more affordable than others. Not only may things change on your end, but insurers change rates every year or even multiple times each year to adjust for gains or losses. Heavier than normal losses may cause high rates, while a better loss history may result in lower-priced Cincinnati car insurance rates.
To illustrate this point, the data below shows the cheapest car insurance in Cincinnati, OH for a 30-year-old female driver with no prior claims, no tickets, and good financial standing. If we estimate rates based on her current rating profile, Utica National offers the most affordable car insurance rates in Cincinnati at $795 each year. This is $245 less than the average price paid by Ohio drivers of $1,040. Erie, Frankenmuth, Allied, and Travelers are the remaining most affordable Cincinnati, OH auto insurance companies.
The chart below compares rates after we give the driver in the first chart a chargeable accident, bad credit, and a traffic citation. Because each company has their own unique process to determine rates, analyzing rates may now show a significantly different list of cheap Cincinnati auto insurance companies as shown below.
Cincinnati Insurance now has the cheapest price in Cincinnati, OH with Merchants Insurance Group, Motorists Mutual, General Casualty, and Grange Mutual also having competitive pricing. This example demonstrates why it is critical to perform a complete rate comparison when trying to get cheap car insurance rates for drivers under 21.
Prices are influenced by many things and can change without notice, so the best price three years ago may now be costing you a lot of money.
If you have coverage questions and would like to have a consultation when trying to find the best insurance rates for drivers under 21, the agencies below can probably answer your questions and help you decide which auto insurance coverages would be the best in your situation.
To locate a Cincinnati insurance agent closest to you, click the link after the list or click here to compare price quotes.
- Meissner Insurance Agency
3710 Harrison Ave – Cincinnati, OH 45211 – (513) 661-4426 - Young Robert
2035 Reading Rd – Cincinnati, OH 45202 – (513) 221-1140 - Kristen Jackson – State Farm Insurance Agent
8952 Winton Rd – Cincinnati, OH 45231 – (513) 681-6400