Cheapest and Best Car Insurance in Toledo, OH (2024)

In Toledo, Ohio, American Family offers the cheapest minimum coverage car insurance and provides the best value between price and service. Nationwide has the cheapest full coverage. It is also the most affordable for families with teens. Cincinnati Insurance leads in terms of service. However, your ideal choice depends on personal preferences and coverage necessities.

MoneyGeek found that American Family offers the least expensive minimum car insurance coverage in Toledo. For affordable protection that meets state requirements, these are the companies with the lowest average annual premium rates:

• American Family: $296 per year
• Nationwide: $297 per year

Allstate has the most expensive minimum coverage policy in Toledo, with an average annual premium of $703. This stark price difference of $407 compared to American Family illustrates the importance of shopping around for car insurance and highlights the potential savings that diligent research can yield. Choosing the right provider can significantly impact your financial expenses throughout the year.

Across all Ohio cities, state legislation prescribes the car insurance minimums that all drivers must carry. Here's what Ohioans need:

• $25,000 bodily injury per person
• $50,000 bodily injury per accident
• $25,000 property damage liability per accident

Consider this: if you're in an at-fault accident, your policy could pay up to $25,000 for one person's injuries but only up to $50,000 total for injuries to all individuals per accident. Should actual damages exceed your coverage, you'd be personally responsible for any overage. Stick to state law, but be aware of its bounds.

MoneyGeek found that Nationwide offers the cheapest full coverage car insurance in Toledo. Consider the following companies when searching for the cheapest full coverage car insurance:

• Nationwide: $589 per year
• American Family: $606 per year

Progressive has the most expensive full coverage policy in Toledo, with an average annual premium of $1,245. This difference of $656 compared to Nationwide highlights why it's crucial to compare policies. Full coverage includes comprehensive and collision insurance, making it pricier than minimum coverage but offering better protection.

A full coverage policy extends beyond higher liability caps to include both comprehensive and collision insurance:

• Collision Insurance: This type of insurance is crucial as it covers repairs to your car following a crash, whether it's with another car or a stationary object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This insurance provides financial protection for damage to your car resulting from non-collision incidents, including theft, vandalism, fires, natural disasters and being struck by an animal like a deer.

For owners of new vehicles, opting for full coverage is a wise choice to protect your substantial investment. With older vehicles, the extra expense, which can amount to several hundred dollars more, might not make financial sense. When deciding how much car insurance you need, it's important to consider the balance between higher coverage costs and the risk of being underinsured.

MoneyGeek found that American Family is the cheapest option in Toledo for drivers with different types of violations. It offers the lowest annual premiums across the board for a speeding ticket, an at-fault accident and a DUI. To find the cheapest company for drivers with a poor driving record, consider the following:

• Speeding Ticket: American Family ($757 per year)
• At-Fault Accident: American Family ($779 per year)
• DUI: American Family ($757 per year)

Progressive has the most expensive rates after a speeding ticket and an at-fault accident, at around $1,620 per year and $2,182, respectively. Westfield is the least affordable provider for those with a DUI, with an average annual premium of $3,460. DUIs typically result in higher rates, but affordable options are still available.

Insurance rates in cities like Toledo may increase based on the severity of a driving offense, reflecting the heightened risk and potential for future claims insurers associate with such infractions. For example, drivers with a single speeding ticket may see their annual rates around $1,620, whereas those with a DUI offense could face an average of $2,431 — a significant leap. Consequently, individuals with driving offenses should diligently compare insurance rates, as shopping around could lead to substantial savings and help mitigate the cost impact of their driving history.

MoneyGeek found that Nationwide is the cheapest option in Toledo, offering the most affordable full coverage car insurance for both male and female teens. To ensure you're getting the best deal, here's a quick rundown of the top providers:

• Nationwide: $1,195 per year for female teens and $1,392 per year for male teens
• Allstate: $2,062 per year for female and male teens

These rates represent the cost to cover a family with two parents and a teenager, highlighting the importance of comparison shopping when adding a high-risk driver, such as a teenager, to your policy. State Farm offers the most expensive teen family policy in Toledo, with an average annual premium of $13,794 for female teens — a substantial increase from Nationwide's rate. This stark price difference underscores the significance of researching the cheapest car insurance for teens to save money.

In Toledo and various cities, teen drivers often face the challenge of high car insurance premiums. On average, an individual annual premium for a teen is $7,208, while being added to a family plan can reduce this to approximately $4,229. The stark difference is due to insurers factoring in the elevated risks associated with teenage drivers, including inexperience and a higher likelihood of filing claims. Adding a teen to a family policy helps mitigate these risks in the eyes of providers. However, securing an individual policy as a teen can be difficult, as insurers are wary of the risk profile and may be hesitant to offer coverage without the buffer of a family plan.

MoneyGeek found that Nationwide offers the cheapest car insurance for military backgrounds in Toledo, offering full coverage. These are the most affordable options:

• Nationwide: $589 per year
• American Family: $605 per year

Although USAA is not the cheapest in Toledo, with an average annual premium of $714, it remains a competitive option. Its services cater specifically to the needs of active-duty military members.

In Toledo, finding the most affordable car insurance rates requires diligence. Often, analyzing one company requires upward of 15 minutes. A thorough comparison involving three or more providers could take over an hour of meticulous research.

However, MoneyGeek's car insurance calculator streamlines this process, offering instantaneous savings by concentrating on key determinants of car insurance costs. For a swift estimate, input your age, driving history, credit score and coverage preferences, among other variables.

Choosing the best auto insurance boils down to what matters most to you — whether that's cost, service quality, coverage options or other factors. MoneyGeek's unique scoring system, which varies across different categories, has identified leading auto insurers in Toledo for various needs:

• Best overall: American Family (MoneyGeek score 85 out of 100)
• Best for service: Cincinnati Insurance (MoneyGeek score 83 out of 100)
• Best cheap: American Family (MoneyGeek score 87 out of 100)

In Toledo, American Family is the best choice for overall value and affordability without compromising on service. It is also the top choice for individuals seeking a blend of savings and quality service. Cincinnati Insurance takes the lead for those prioritizing top-tier service regardless of cost.

MoneyGeek found that American Family is the top provider of the best car insurance in Toledo, offering full coverage policies that stand out from the competition.

• American Family: MoneyGeek score of 85 out of 100 ($606 per year)
• Erie: MoneyGeek score of 80 out of 100 ($765 per year)

American Family is the leading car insurance company in Toledo due to its exceptional performance in customer satisfaction and affordability. Its near-perfect scores in these areas confirm its superior ranking for a full coverage policy.

Cincinnati Insurance is the best option in Toledo for car insurance customer service. It provides superior satisfaction in general service, claims processing and various coverages, exclusively focusing on the value provided to the consumer, not just the pricing.

• Cincinnati Insurance: MoneyGeek score of 83 out of 100 ($1,143 per year)
• Westfield: MoneyGeek score of 82 out of 100 ($1,241 per year)

Cincinnati Insurance is the top scorer because of its consistent excellence across various facets of customer service. Its high satisfaction and claims scores significantly contribute to its near-perfect MoneyGeek score. This overall performance ensures that policyholders in Toledo experience top-tier service, regardless of rate considerations.

MoneyGeek found that American Family is the best option for cheap car insurance in Toledo. This ranking considers policy affordability, customer satisfaction and claims handling quality to provide a comprehensive view of the insurer's service.

• American Family: MoneyGeek score of 87 out of 100 ($296 per year)
• Erie: MoneyGeek score of 85 out of 100 ($333 per year)

American Family distinguishes itself through its excellent balance of low-cost premiums and high-quality service, specifically tailored for individuals seeking minimum coverage policies. Its high affordability score and solid claims and satisfaction ratings significantly influence its top position.

In Toledo, the average car insurance cost is $973 per year. Toledo's average insurance premium is higher than the overall average car insurance cost in Ohio, which is $906 per year. Ohio's state average is $876 less than the national average insurance cost of $1,781, showcasing significant regional variation in car insurance pricing.

Location plays a pivotal role in determining car insurance rates, with factors like traffic volume, accident rates and local laws influencing premiums. Akron is the city with the cheapest insurance premium at $875, according to MoneyGeek’s analysis — $31 lower than the state average. On the other hand, Cincinnati is the most expensive city at around $989 per year, which is $83 more than the state average. These figures underscore the impact of location on car insurance costs, with non-city areas often seeing even lower rates due to reduced traffic density.