Have you had enough of paying out the nose to pay your car insurance bill each month? You are no different than most other car owners in Ohio.
Multiple car insurance companies compete for your insurance dollar, so it can be very hard to choose a insurance company and get the best coverage at the lowest rate possible.
Consumers should take time to check auto insurance prices yearly since insurance rates are usually higher with each renewal. Even if you think you had the best deal a year ago you may be paying too much now. Block out anything you think you know about auto insurance because we’re going to demonstrate the proper way to buy cheaper auto insurance.
If you have car insurance now, you should be able to cut costs considerably using these methods. Buying car insurance in Toledo is not rocket science. But Ohio drivers need to learn the way companies compete online and apply this information to your search.
Quick Toledo Auto Insurance Quotes
There are multiple methods you can shop for auto insurance but some are more efficient than others. You can waste hours talking about coverages with agents in Toledo, or you could save time and use the internet to get rate comparisons in just a few minutes.
Many popular insurance companies participate in an industry program where insurance shoppers enter their coverage request one time, and each participating company then gives them pricing determined by their information. This saves time by eliminating quote requests for each company.
To compare rates now click here to start a free quote.
One minor caviat to using this type of form is you don’t know exactly which providers you want to price. If you prefer to choose specific insurance companies to receive pricing from, we put together a list of low cost auto insurance companies in Ohio. Click to view list.
It doesn’t matter which method you choose, just make darn sure you compare apples-to-apples coverages and limits for every quote you compare. If you compare different deductibles it’s not possible to make a fair comparison in Toledo. Slightly different coverages may cause a big price difference. And when quoting auto insurance, remember that comparing a large number of companies provides better odds of finding a lower rate.
Policy discounts you shouldn’t miss
Companies that sell car insurance don’t necessarily list all available discounts very well, so we took the time to find some of the best known as well as the least known savings tricks you should be using.
- Payment Method – If you pay your bill all at once rather than paying monthly you can actually save on your bill.
- Lower Rates for Military – Being on active duty in the military could be rewarded with lower premiums.
- No Charge for an Accident – A handful of insurance companies permit an accident before hitting you with a surcharge as long as you don’t have any claims prior to the accident.
- Discount for Life Insurance – Larger companies have a break if you buy life insurance.
- Anti-lock Brakes – Anti-lock brake equipped vehicles are safer to drive and therefore earn up to a 10% discount.
Drivers should understand that most discounts do not apply to all coverage premiums. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because it seems like all those discounts means the company will pay you, you won’t be that lucky.
To see a list of companies offering auto insurance discounts in Ohio, click here to view.
More detailed Ohio auto insurance information is available at the Ohio Department of Insurance website. Ohio drivers can discover disciplinary actions, read state legal mandates and laws, report car insurance fraud, and learn about specific coverages.
Do auto insurance companies bend the truth?
Auto insurance providers like Allstate and Progressive regularly use ads on TV and radio. They all make the same claim that you can save if you move your coverage to them. How do they all say the same thing?
Different companies have a preferred profile for the type of customer that earns them a profit. For example, a preferred risk could be over the age of 50, has no prior claims, and drives less than 10,000 miles a year. A customer getting a price quote who meets those qualifications receives the best rates and therefore will cut their rates substantially.
Potential insureds who are not a match for this ideal profile will be quoted higher premiums which leads to business going elsewhere. Company advertisements say “customers that switch” not “everyone that quotes” save that much money. That’s why companies can advertise the way they do. This emphasizes why drivers should get a wide range of price quotes. You cannot predict which auto insurance company will give you the biggest savings.
Specific coverage details
Having a good grasp of a auto insurance policy helps when choosing the best coverages for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverage types found on the average auto insurance policy.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your vehicle.
Since a lot of drivers have only the minimum liability required by law (which is 12,500/25/7,500), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.
Medical payments coverage and PIP – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for things like funeral costs, nursing services, pain medications and ambulance fees. They can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is not available in all states and may carry a deductible
Collision coverages – This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as hitting a parking meter, damaging your car on a curb, scraping a guard rail and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to choose a higher deductible to bring the cost down.
Liability auto insurance – Liability coverage provides protection from damage or injury you incur to people or other property that is your fault. It protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.
Liability can pay for claims like bail bonds, structural damage, medical expenses, legal defense fees and loss of income. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as high a limit as you can afford. Ohio requires minimum liability limits of 12,500/25,000/7,500 but you should consider buying more coverage.
Comprehensive coverage – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims such as damage from flooding, rock chips in glass, vandalism, a tree branch falling on your vehicle and fire damage. The maximum amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
More effort can pay off
Cheap auto insurance is possible online in addition to many Toledo insurance agents, and you should be comparing both to get a complete price analysis. Some insurance companies do not provide you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.
We covered a lot of information how to lower your auto insurance rates. It’s most important to understand that the more providers you compare, the better your comparison will be. You may be surprised to find that the biggest savings come from a small local company. These smaller insurers may cover specific market segments cheaper than their larger competitors like Progressive or Geico.