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Best cheap car insurance in Toledo for 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Best cheap car insurance companies in Toledo
Choosing the best Ohio car insurance involves considering various factors beyond just cost. While Hastings Mutual, Nationwide and USAA offer some of the cheapest full coverage rates, our Bankrate editorial team also evaluates insurers based on their product offerings, customer satisfaction scores from J.D. Power, claims support, online capabilities and financial strength ratings. We use these factors and more to assign each carrier a Bankrate Score out of 5 points.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: Geico offers competitive rates for both full and minimum coverage auto insurance in Toledo. The company provides a variety of discounts, including those for student drivers with good grades and participants in the DriveEasy program, which tracks driving habits for potential savings. While Geico excels in offering affordable rates and digital tools, it has limited in-person offices, so most customer service interactions occur online or via phone.
Why Geico is best for digital tools: Geico is known for its strong digital presence and user-friendly online tools, which could make it an excellent choice for tech-savvy drivers. Whether you prefer managing your policy online or via the mobile app, Geico provides a seamless digital experience. The company’s robust digital capabilities, combined with its competitive rates, could make it a standout option for those who prioritize convenience and efficiency in managing their car insurance.
| Bankrate Score | 4.4 |
| J.D. Power | 831/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Progressive made our list: Progressive is known for its comprehensive digital tools and nationwide availability, making it a convenient choice for many Toledo drivers. The company provides a broad range of coverage options, including customizable add-ons, like rideshare insurance. Despite mixed customer service ratings, Progressive's Name Your Price tool may be very useful for first-time auto shoppers or those on a tight budget.
Why Progressive is best for high-risk drivers: Progressive stands out as a potential option for high-risk drivers in Toledo. In fact, Progressive won the 2024 Bankrate Award for the Best for High-Risk Drivers. The company offers competitive rates for those with driving violations, including DUIs, and provides SR-22 filings. Additionally, Progressive's usage-based insurance program, Snapshot, allows drivers to potentially lower their premiums based on safe driving habits. With these features, Progressive could be well-suited to help high-risk drivers manage and reduce their insurance costs.
| Bankrate Score | 4.4 |
| J.D. Power | 816/1,000 |
| AM Best score | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Auto-Owners made our list: While Auto-Owners lacks some of the digital tools offered by competitors, it compensates with potential discounts for bundling, safety features, good students and more. Auto-Owners operates through a network of local licensed agents, providing personalized service that tech-wary shoppers may appreciate.
Why Auto-Owners is best for personalized coverage: Auto-Owners could be a good fit for drivers looking for highly customizable coverage options and a personalized insurance experience. The company offers a variety of endorsements that allow policyholders to tailor their coverage to their specific needs, such as road trouble service, additional expense coverage, loan/lease gap and diminished value coverage.
| Bankrate Score | 4.3 |
| J.D. Power | 833/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why USAA made our list: USAA is highly regarded for its excellent coverage options and competitive pricing for those in the military community. The company only offers insurance to active-duty military members, veterans and their eligible family members. USAA's strong customer service reputation and high J.D. Power scores reflect its commitment to serving military personnel and their families. The company’s average premium rates for Toledo drivers are notably low, making it a top choice for those who qualify.
Why USAA is best for military-focused coverage: USAA is typically a great option for military families and veterans in Toledo due to its tailored coverage options and military-specific car insurance discounts. The company offers benefits such as the SafePilot program, which rewards safe driving, and comprehensive coverage options including roadside assistance and car rental reimbursement. Additionally, USAA provides discounts specifically for military members, such as reduced rates for storing a vehicle on base, deployment discounts and savings for garaging vehicles on military installations.
| Bankrate Score | 4.2 |
| J.D. Power | |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Allstate made our list: Allstate offers a comprehensive range of insurance products, making it a convenient option for those looking to manage multiple policies under one provider. Known for its home, auto and life insurance, Allstate provides a variety of policy options and rewards programs for safe driving, such as Deductible Rewards and Drivewise. However, Allstate's auto insurance rates tend to be higher than average, and the company has received below-average scores in many regions according to J.D. Power's 2023 U.S. Auto Insurance Study.
Why Allstate is best for bundling policies: Allstate could be a strong choice for drivers who value the convenience of managing multiple insurance policies through one company. With its diverse selection of coverage options and rewards programs, Allstate makes it easier for policyholders to bundle their home, auto and life insurance. Despite higher average rates for full coverage and mixed customer satisfaction scores, the ability to streamline insurance management might appeal to those who prefer a one-stop shop for their insurance needs.
| Bankrate Score | 3.9 |
| J.D. Power | 822/1,000 |
| AM Best score | A+ |
Bankrate's trusted insurance industry expertise
Read our full methodologyAt Bankrate, our dedicated team gathers the most up-to-date car insurance rates from Quadrant Information Services by ZIP code to ensure our users receive the most accurate and relevant analysis. This data is combined with third-party customer satisfaction reviews, financial strength ratings and comprehensive evaluations of coverage options to highlight the best insurance providers for your needs.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Toledo
When searching for cheap car insurance in Toledo, it’s important to consider factors specific to the region and state. Ohio, known for its varied weather conditions, can affect driving safety and consequently, insurance rates. In Toledo, proximity to Lake Erie sometimes results in lake-effect snow, which can impact driving conditions and risk assessments. Additionally, Toledo's urban setting and traffic patterns may influence insurance costs. Understanding these local variances can help you find the most cost-effective car insurance options tailored to your needs.
| Insurance company | Average annual min coverage premium | Average annual full coverage premium |
|---|---|---|
|
Hastings Mutual
|
$336
|
$899
|
|
$503
|
$1,278
|
|
|
$303
|
$1,322
|
|
|
$367
|
$1,346
|
|
|
$355
|
$1,409
|
How much is car insurance in Toledo, Ohio?
In Toledo, Ohio, the average annual cost of car insurance is $476 for minimum coverage and $1,661 for full coverage. Compared to the Ohio average, minimum coverage premiums in Toledo are 18 percent more and full coverage premiums are 13 percent more.
Toledo rates for teens
Teen drivers see some of the highest average car insurance premiums due to their lack of driving experience and higher risk of accidents. In Toledo, adding a teen driver to their parents' policy is usually more cost-effective than having the teen secure their own policy. Many insurers offer discounts for good students or for teens who complete driver education courses, which may help mitigate some of the higher costs associated with insuring teen drivers.
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
Hastings Mutual
|
$659
|
$645
|
|
$705
|
$812
|
|
|
Central Mutual
|
$771
|
$674
|
|
$863
|
$613
|
|
|
$975
|
$776
|
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
Hastings Mutual
|
$1,700
|
$1,664
|
|
$2,337
|
$2,172
|
|
|
Central Mutual
|
$2,580
|
$2,276
|
|
$2,739
|
$3,139
|
|
|
$2,979
|
$2,358
|
Toledo rates for young drivers
Young drivers moving off their parents' insurance policies may be shocked at their high quoted rates. Much like teen drivers, young drivers in Toledo, typically those in their early 20s, often experience higher car insurance premiums due to their higher risk profile and limited driving history. For young drivers who are no longer on their parents’ policies, finding insurers that offer competitive rates and substantial discounts for safe driving, good grades or low-mileage usage may be crucial.
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
$549
|
$414
|
|
|
Central Mutual
|
$637
|
$457
|
|
$794
|
$498
|
|
|
$808
|
$439
|
|
|
$840
|
$438
|
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
Central Mutual
|
$2,287
|
$1,775
|
|
Hastings Mutual
|
$2,396
|
$1,205
|
|
$2,402
|
$1,846
|
|
|
$2,889
|
$1,780
|
|
|
$3,051
|
$2,064
|
Toledo rates for adults
Adult drivers in Toledo often benefit from more stable auto rates compared to younger drivers thanks to their established driving history and lower risk profile. However, premiums can vary significantly based on driving record, vehicle type and chosen coverage levels. Most insurance agents recommend periodically comparing rates from different insurers to ensure you are getting the best value. Adult drivers who have multiple insurance policies needs, like home and auto, may earn big savings by bundling policies with a single insurer.
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
Hastings Mutual
|
$929
|
$899
|
$841
|
|
$1,397
|
$1,278
|
$1,169
|
|
|
$1,452
|
$1,434
|
$1,406
|
|
|
$1,490
|
$1,322
|
$1,228
|
|
|
$1,532
|
$1,346
|
$1,291
|
Toledo rates for senior drivers
Senior drivers in Toledo may initially enjoy lower car insurance rates due to their extensive driving experience and often lower annual mileage. However, as they continue to age, premiums may increase due to the higher risks associated with age-related factors, such as slower reaction times. To mitigate these increases, seniors can take advantage of discounts for defensive driving courses and vehicle safety features and regularly compare rates from different insurers to ensure they receive the most competitive pricing.
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
$284
|
$351
|
|
|
Hastings Mutual
|
$305
|
$447
|
|
$332
|
$366
|
|
|
$346
|
$387
|
|
|
$348
|
$471
|
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
Hastings Mutual
|
$305
|
$1,175
|
|
$476
|
$1,199
|
|
|
$284
|
$1,335
|
|
|
$346
|
$1,293
|
|
|
$332
|
$1,451
|
The cheapest car insurance in Toledo by driving record
Your driving record significantly influences your car insurance rates in Toledo. Insurance companies assess your risk based on past driving behavior, so having infractions, such as speeding tickets, at-fault accidents or DUIs, can lead to higher premiums.
Car insurance with a speeding ticket in Toledo
Drivers in Toledo who receive a speeding ticket can expect their car insurance premiums to increase. Insurers view speeding violations as indicators of risky driving behavior, which typically results in higher rates. On average, premiums for drivers in Toledo with a speeding ticket are 21 percent more than the city average. A speeding ticket usually only impacts rates for three to five years, so avoiding future infractions should help bring your rates down over time.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
$370
|
$1,456
|
|
|
$385
|
$1,675
|
|
|
Central Mutual
|
$404
|
$1,596
|
|
$418
|
$1,625
|
|
|
Hastings Mutual
|
$433
|
$1,108
|
Car insurance after an accident in Toledo
Car insurance premiums are likely to increase significantly for drivers in Toledo with an at-fault accident on their record. An at-fault accident could mark you as a higher-risk driver, leading to higher premiums compared to those with clean records. On average, Toledo drivers with an at-fault accident pay premiums that are 48 percent more than the city average.
Car insurance after a DUI in Toledo
Receiving a DUI in Toledo significantly impacts your car insurance premiums, as insurers categorize DUI offenders as high-risk drivers. On average, premiums for drivers in Toledo with a DUI are 104 percent more than the city average. This substantial increase reflects the heightened risk associated with driving under the influence. To manage these higher costs, drivers could consider seeking out insurers that specialize in high-risk coverage. Note that not all carriers will insure drivers with DUIs, so you might have to shop around if you recently received a DUI conviction.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
$450
|
$1,796
|
|
|
$457
|
$1,733
|
|
|
$485
|
$2,053
|
|
|
Central Mutual
|
$581
|
$2,120
|
|
$594
|
$2,150
|
Minimum coverage requirements in Toledo
Ohio residents, including those in Toledo, must carry minimum levels of liability insurance to drive legally:
- $25,000 in bodily injury liability coverage per person
- $50,000 in bodily injury liability coverage per accident
- $25,000 in property damage liability coverage per accident
While these limits satisfy legal requirements and help keep rates lower, they may not be sufficient in serious accidents. For instance, costs can quickly exceed your policy limits for bodily injury liability if multiple injuries occur, leaving you to pay out of pocket for the remainder. Additionally, minimum coverage does not cover damage to your vehicle if you are at fault in an accident.
Driving without insurance in Ohio is illegal and can result in severe penalties, including automatic license suspension. Penalties for driving without insurance include:
- First offense: License suspension until proof of insurance is provided and a $40 reinstatement fee.
- Second offense: License suspension for one year and a $300 reinstatement fee.
- Third offense and beyond: License suspension for two years and a $600 reinstatement fee.
All drivers caught driving without insurance must purchase an SR-22 certificate to demonstrate proof of insurance going forward. The certificate is typically required for three to five years, depending on the offense. Ensuring you have at least the state-mandated minimum coverage can help avoid these penalties and provide financial protection in the event of an accident.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze July 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, and a single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 17-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Score
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.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
- 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 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.
