Best car insurance in Ohio for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Like most states, Ohio mandates specific limits that each driver must carry as a minimum requirement to drive legally. Because Ohio is an at-fault state, minimum coverage requirements include bodily injury liability and property damage liability, with exact amounts noted on the state’s motor vehicle website. Although there are other ways to satisfy Ohio’s financial responsibility law, like posting a bond or qualifying as a self-insurer, most insurance professionals recommend purchasing enough coverage to avoid financial devastation in case of an accident.

Although buying minimum coverage might mean you pay a lower premium, the limits may not be enough to protect your finances if you cause an accident. If the injuries and damage that you cause exceed your insurance limits, you will have to pay extra costs out of pocket.

In the U.S., 85 percent of all new car purchases are financed as of 2019. Because a financial institution has a stake in the vehicle, drivers are typically required to purchase full coverage insurance in these situations. As minimum coverage limits do not provide any physical damage coverage for your vehicle, collision and comprehensive coverage come in handy when facing repair or replacement costs. Drivers of newer model cars in Ohio may also want to consider purchasing gap insurance, which helps pay the difference between your insurance claim check and the outstanding loan amount should your vehicle be totaled or stolen and unrecoverable.

Drivers leasing their vehicles usually have additional insurance requirements regarding liability coverage. In most cases, leasing companies require you to carry at least $100,000 per person and $300,000 per accident in bodily injury, and $50,000 per accident in property damage coverage. You may see this denoted as 100/300/50 on your policy documentation.

Many personal factors, like driver risk, may influence the cost of insurance. Insurance companies typically use driving records to gauge how likely a policyholder is to file future claims, so they often charge higher rates for drivers with prior traffic violations. Having a speeding ticket on your motor vehicle record, for example, could demonstrate high-risk driving behavior, potentially increasing average annual premiums by hundreds of dollars.

No single company always has the cheapest insurance all the time. Having said that, there are a handful of companies with a reputation for writing cheap policies in the Buckeye State. Finding the one that's best for your needs can be simple if you first consider what matters most to you. For example, if you have a teen driver in your family, you may want to look at companies that offer multiple discounts for young drivers. Or perhaps you have a military connection, and are better served by a company that offers the best insurance for veterans and military men and women. If you have a few marks on your license, a company that specializes in high-risk insurance may offer you the best rate. Thinking about your priorities and then asking for quotes from several likely companies can lead you to the most affordable coverage for your situation.

Yes, like most states, Ohio has certain minimum requirements for car insurance, and you must meet these in order to drive legally in the state. Although some drivers may take the option of posting a bond or qualifying as a self-insurer, most will fulfill the requirement by purchasing an insurance policy. If you are found to be driving without insurance in Ohio, you could face multiple penalties. These may include loss of your license and registration as well as fines and the requirement to file an SR-22 in order to get back on the road.

There are a few factors that could contribute to Ohio's below-average car insurance rates. For one, a lot of the Buckeye State is suburban or rural. Roads outside of urban areas tend to be less busy, meaning that there are usually fewer accidents, which may translate to lower premiums. While Ohio does experience some severe winter weather, it doesn't have the same tornado risk as some other Midwestern states, and it doesn't experience hurricanes like states on the East Coast. Lastly, Ohio's minimum car insurance requirements are fairly basic, so minimum coverage is typically not as high as in other states where liability requirements are high or personal injury protection coverage is required.

Many of the best car insurance companies offer online quoting, but for carriers that do not (or if you prefer a more personalized approach), you can also get quotes over the phone with a company agent or in person if the carrier has local offices in your area. If you want to quickly compare rates across multiple companies, you may find online quote comparison tools useful, or you could choose to work with an independent insurance broker. Brokers collect quotes from multiple companies on your behalf for you to compare coverage options, pricing and discounts.