Things would sure be easy if we could simply give you the name of the company that has the lowest rates in Ohio. It’s just not that easy, however, as there are many unknowns such as any tickets or violations, the amount of coverage you want, and how well you maintain your credit. This article should teach you a little about some of these things and will hopefully give you a good beginning to your search for cheaper coverage.
The make and model of vehicle that is being insured is probably the most important factor when looking for low-priced coverage for teenage males. Vehicles with lower acceleration and performance, a great safety record, or a low likelihood of having liability claims will cost significantly less to insure than high performance models. The data below illustrates insurance rates for some of the most economical vehicles to insure in Ohio.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $5,160 |
| Honda Accord LX 4-Dr Sedan | $5,170 |
| Ford Escape XLS 4WD | $5,160 |
| Toyota Prius | $5,576 |
| Ford F-150 STX Regular Cab 4WD | $5,805 |
| Ford Focus S 4-Dr Sedan | $6,072 |
| Honda Odyssey EX | $6,081 |
| Toyota Tacoma 2WD | $6,072 |
| Chevrolet Impala LS | $6,079 |
| Toyota RAV4 Limited 4WD | $6,121 |
| Jeep Grand Cherokee Laredo 2WD | $6,130 |
| Chevrolet Equinox LS 2WD | $6,121 |
| Ford Fusion S 4-Dr Sedan | $6,130 |
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Data variables include single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in vehicle location which can raise or lower premium rates substantially.
By looking at the data, we can expect vehicles like the Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are most likely to be the less-costly vehicles to insure for teen boys. The price of auto insurance will tend to be higher because of the fact that there is more liability exposure for teenage males, but generally speaking those particular models will probably have the lowest prices possible.
Comparing quotes for low-cost insurance is hard enough, and determining which insurers offer the cheapest car insurance rates for teenage males involves more quotes for comparison.
Each insurer has their own unique process for establishing rates, so we need to take a look at the most affordable car insurance companies in Cincinnati, OH.
Best Car Insurance Prices for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Allied | $669 |
| 3 | Frankenmuth | $680 |
| 4 | Erie | $681 |
| 5 | Travelers | $733 |
| 6 | USAA | $741 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $755 |
| 9 | General Casualty | $805 |
| 10 | Motorists Mutual | $816 |
| 11 | Grange Mutual | $828 |
| 12 | Central Mutual | $840 |
| 13 | State Farm | $858 |
| 14 | Hastings Mutual | $893 |
| 15 | Atlantic States | $913 |
| 16 | Westfield | $946 |
| 17 | Auto-Owners | $968 |
| 18 | Western Reserve | $970 |
| 19 | Progressive | $982 |
| 20 | Nationwide | $998 |
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Utica National normally has some of the best car insurance rates in Cincinnati at around $647 a year. Allied, Frankenmuth, Erie, and Travelers also rank well as some of the more affordable Cincinnati, OH auto insurance companies.
As shown above, if you currently have a policy with Erie and switched to Utica National, you might realize a yearly savings of in the vicinity of $34. Policyholders with Travelers may save as much as $86 a year, and USAA policyholders might realize rate reductions of up to $94 a year.
If you want to find out if you’re overpaying, click here to start your free quote or visit several of the following companies.
Remember that these estimates are averages for all drivers and vehicles in Ohio and and are not calculated with a specific zip code for teenage males. So the insurer that fits your needs best may not even be in the top 33 companies in the list above. That illustrates why you need to compare prices as often as possible using your own specific driver and vehicle information.
One of the more important components that help determine the amount you pay each year for auto insurance is where you call home. Areas with more people or higher crime rates are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The table below ranks the most expensive areas in Ohio for teenage males to buy an auto insurance policy in. Cincinnati makes the list at #6 with an annual rate of $1,186 for the average policyholder, which is around $99 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Youngstown | $1,247 |
| 2 | Toledo | $1,241 |
| 3 | Cleveland | $1,235 |
| 4 | Cleveland Heights | $1,202 |
| 5 | Columbus | $1,199 |
| 6 | Cincinnati | $1,186 |
| 7 | Euclid | $1,164 |
| 8 | Dayton | $1,142 |
| 9 | Akron | $1,135 |
| 10 | Hamilton | $1,113 |
| 11 | Newark | $1,095 |
| 12 | Lakewood | $1,073 |
| 13 | Springfield | $1,061 |
| 14 | Canton | $1,058 |
| 15 | Middletown | $1,055 |
| 16 | Fairfield | $1,053 |
| 17 | Strongsville | $1,041 |
| 18 | Beavercreek | $1,027 |
| 19 | Parma | $1,027 |
| 20 | Kettering | $1,020 |
| 21 | Cuyahoga Falls | $997 |
| 22 | Mansfield | $992 |
| 23 | Mentor | $988 |
| 24 | Lorain | $985 |
| 25 | Elyria | $965 |
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Rate information is estimated as the specific area where the vehicle is garaged can change insurance rates noticeably.
Does full coverage make sense?
Saving on car insurance should be important to the majority of people, and one way to pay less for insurance for teenage males is to not insure for full coverage. The diagram below illustrates the comparison of auto insurance rates when comparing full coverage to liability only. The rate quotes are based on no accidents or driving violations, $100 deductibles, single marital status, and no discounts are applied.
As an average, comp and collision coverage costs an additional $1,308 per year more than carrying just liability coverage. Many of you may wonder if buying full coverage is worth the money. There is no definitive rule to drop full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s assume your vehicle’s replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after the policy deductible has been paid. If it’s costing you more than $300 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
The chart below illustrates how your choice of deductibles can impact premium costs when researching cheap insurance for teenage males. The rates are based on a single male driver, full physical damage coverage, and no discounts are taken into consideration.
The data above shows that a 40-year-old driver could save $186 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $282 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, have the ability to save as much as $612 each year by choosing a higher deductible.
If you do make the decision to raise your deductibles, it is a good idea to have plenty of discretionary funds to be able to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
Reckless driving habits raise car insurance rates
The easiest way to earn affordable car insurance prices for teen boys is to drive safe and avoid accidents and keep your driving record clean. The diagram below demonstrates how speeding tickets and at-fault collisions can raise car insurance rates for different age groups of insureds. The data is based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.
In the prior example, the average cost of a car insurance policy per year with no violations or accidents is $741. Factor in two speeding tickets and the average cost surges to $1,041, an increase of $300 each year. Then include one accident along with the two speeding tickets and the annual cost of car insurance for teenage males goes up to an average of $1,346. That’s an increase of $605, or $50 per month, just for not being attentive to the road!
Why you should be shopping around
Ohio car insurance rates are based on many factors which can significantly increase or decrease the cost of having a policy. Simply having another birthday, having a teen driver, or having an at-fault accident may generate price changes that can now make some companies cheaper than before.
In addition to those changes, car insurance companies modify pricing at least once a year to ensure their profitability. Significantly higher claims can cause high rates, while a better loss history can result in cheaper Cincinnati car insurance rates.
The chart below shows the companies that have the cheapest car insurance in Cincinnati, OH for a 35-year-old male driver with a clean driving record, no accidents, and solid credit. Based on his current situation, Utica National offers the most affordable car insurance rates in Cincinnati at $772 annually. This is $268 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are also included in the best Cincinnati, OH auto insurance companies.
The next chart shows rates after we give the driver from above a claim surcharge, less-than-perfect credit, and a few blemishes on his driving record. Since each auto insurance company has a different process to establish rates, comparing quotes may result in a completely different list of affordable Cincinnati car insurance companies as shown below.
Cincinnati Insurance now has the lowest price on auto insurance in Cincinnati, OH with Merchants Insurance Group, Grange Mutual, Motorists Mutual, and General Casualty also being competitive. This example illustrates why it is critical to compare many different companies when trying to get the most budget-friendly insurance rates for teenage males.
Insurance rates consist of many factors and can increase or decrease at any time, so the best company three years ago may now be an over-priced policy.