It’s hard to avoid all the captivating ads from auto insurance companies like Allstate and The General that make promises of the cheapest rates, so you just need to pick the company with the best ad, right?
It’s not that easy, however, as there are a whole bunch of unknown aspects such as what your desired deductibles are, the miles you drive each year, and whether you are a man or a woman, that all have an effect on the price. The content below covers the best ways to find cheap auto insurance and will hopefully give you a solid foundation to find cheaper car insurance in Cincinnati.
One of the more important factors that are looked at to determine the price you pay for insurance is where your residence is. Areas with more people or more claims will most likely pay more, whereas areas with less congestion tend to receive slightly lower rates.
The information below ranks the most expensive places in Ohio for veterans to buy car insurance in. Cincinnati shows up at #5 having an annual price of $1,186 for the average policyholder, which is approximately $99 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Youngstown | $1,285 |
| 2 | Columbus | $1,247 |
| 3 | Toledo | $1,241 |
| 4 | Cleveland | $1,235 |
| 5 | Cincinnati | $1,186 |
| 6 | Cleveland Heights | $1,178 |
| 7 | Euclid | $1,175 |
| 8 | Akron | $1,157 |
| 9 | Dayton | $1,154 |
| 10 | Hamilton | $1,146 |
| 11 | Lakewood | $1,073 |
| 12 | Springfield | $1,072 |
| 13 | Fairfield | $1,063 |
| 14 | Canton | $1,058 |
| 15 | Newark | $1,053 |
| 16 | Kettering | $1,051 |
| 17 | Middletown | $1,035 |
| 18 | Beavercreek | $1,016 |
| 19 | Lorain | $1,015 |
| 20 | Cuyahoga Falls | $1,007 |
| 21 | Strongsville | $1,001 |
| 22 | Parma | $997 |
| 23 | Mansfield | $992 |
| 24 | Mentor | $978 |
| 25 | Elyria | $965 |
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Prices are approximated as vehicle location can modify insurance rates noticeably.
Deciphering which companies offer the best insurance rates for veterans will involve a little more work in order to find coverage that fits your budget.
Each company uses a slightly different approach for setting rates, so we need to take a look at the most budget-friendly insurance companies in Cincinnati, OH.
Best Cheap Insurance Rates for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $661 |
| 3 | Allied | $690 |
| 4 | Frankenmuth | $701 |
| 5 | USAA | $711 |
| 6 | Travelers | $733 |
| 7 | Merchants Insurance Group | $755 |
| 8 | Cincinnati Insurance | $756 |
| 9 | Motorists Mutual | $792 |
| 10 | Grange Mutual | $812 |
| 11 | General Casualty | $829 |
| 12 | Central Mutual | $848 |
| 13 | Hastings Mutual | $858 |
| 14 | State Farm | $894 |
| 15 | Atlantic States | $904 |
| 16 | Westfield | $946 |
| 17 | Western Reserve | $961 |
| 18 | Nationwide | $988 |
| 19 | Auto-Owners | $988 |
| 20 | Progressive | $991 |
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Utica National quotes some of the cheapest car insurance rates in Cincinnati at around $647 a year. Erie, Allied, Frankenmuth, and USAA also are some of the cheaper Cincinnati, OH insurance companies.
In the rate table above, if you are insured with Erie and switched to Utica National, you might achieve an annual savings of around $14. Drivers with Allied may save as much as $43 a year, and Frankenmuth customers might realize rate reductions of up to $54 a year.
These premium estimates are averaged for all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for veterans. So the auto insurance company that has the cheapest price for you may not even be in the list above. That point stresses why you need to get car insurance quotes using your own driver and vehicle profiles.
Liability rates compared to full coverage
Saving money on insurance is the goal of most drivers, and a good way to pay less for insurance for veterans is to only buy liability insurance. The diagram below shows the difference between auto insurance costs with and without physical damage coverage. The prices are based on no claims, a clean driving record, $250 deductibles, single marital status, and no policy discounts are applied.
On average, comprehensive and collision coverage on your policy costs an additional $1,200 per year more than insuring for liability only. That amount may make you wonder if buying full coverage is worth the expense. There is no definitive rule of when to stop paying for full coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s claim settlement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $10,500 after you pay the deductible. If premium cost is more than $1,050 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some situations where only buying liability is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Discounts on Cincinnati auto insurance rates
Insurers that provide policies for veterans may have policy discounts that may potentially lower prices by as much as 25% or more if you meet specific eligibility requirements. Larger insurance companies and their possible discounts can be found below.
- Progressive may include discounts for multi-vehicle, online signing, good student, homeowner, and continuous coverage.
- GEICO includes discounts for defensive driver, good student, federal employee, seat belt use, and emergency military deployment.
- State Farm offers discounts including Drive Safe & Save, multiple autos, safe vehicle, accident-free, and Steer Clear safe driver discount.
- Esurance discounts include Switch & Save, renters, multi-car, online shopper, anti-lock brakes, and multi-policy.
- The Hartford offers premium reductions for defensive driver, anti-theft, vehicle fuel type, driver training, air bag, bundle, and good student.
The illustration below illustrates the difference between auto insurance costs with and without discounts applied. The rate quotes are based on a female driver, no driving violations, no at-fault accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with vehicle safety, claim-free, marriage, homeowner, multiple policy, and accident-free discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for veterans is 28% or $458.
Drive safe and save
One of the best ways to find affordable insurance rates in Ohio for veterans is to pay attention while driving and avoid accidents and traffic citations. The chart below demonstrates how citations and at-fault accidents drive up insurance costs for different age groups. The data is based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
In the prior example, the average cost of a car insurance policy in Ohio per year with no violations or accidents is $1,085. Add in one speeding ticket and the average cost increases to $1,250, an increase of $165 each year. Next add one accident along with the one speeding ticket and the 12-month cost of insurance for veterans increases to an average of $1,708. That’s an increase of $623, or $52 per month, just for not being more responsible behind the wheel!
If you wish to have some professional guidance when trying to find the best insurance rates for veterans, the agents listed below are willing to help you decide which car insurance company is the best fit.
To find an auto insurance agency close to where you live, click the link at the bottom or click here to compare price quotes.
- Young Robert
2035 Reading Rd – Cincinnati, OH 45202 – (513) 221-1140 - Connor Smith – State Farm Insurance Agent
9620 Colerain Ave #25 – Cincinnati, OH 45251 – (513) 385-3385 - Richard Curry Jr – State Farm Insurance Agent
4953 Delhi Ave – Cincinnati, OH 45238 – (513) 451-5205 - Letitia Fulkerson – State Farm Insurance Agent
882 Ohio Pike – Cincinnati, OH 45245 – (513) 752-2144