You have probably watched the catchy commercials from companies like Liberty Mutual, Farmers, and GEICO guaranteeing the cheapest rates, so drivers just need to pick the company with the best ad, right?
It’s not that simple, unfortunately, as there are many unknowns like the annual mileage you drive, the crime level of your neighborhood, and how safe your vehicle is, that all influence how much you pay for auto insurance. If you keep reading, we will teach you about these factors and others that can influence the price of auto insurance and will give you a good start in finding the cheapest car insurance in Ohio.
Deciphering which insurers offer the cheapest car insurance rates for drivers requiring a SR22 involves a bit more effort in order to find the best price.
Every auto insurer has a unique formula to set policy rates, so we need to take a look at the car insurance companies that tend to be cheaper in Columbus. It’s important that readers know that Columbus, OH car insurance rates are determined by lots of factors which can substantially decrease or increase the policy premium. Simply improving your credit, increasing deductibles, or having an accident may generate price changes resulting in some companies being more affordable than the competition.
Best Auto Insurance Prices for SR22 Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Allied | $669 |
| 3 | Erie | $681 |
| 4 | Frankenmuth | $701 |
| 5 | Travelers | $712 |
| 6 | USAA | $741 |
| 7 | Merchants Insurance Group | $755 |
| 8 | Cincinnati Insurance | $756 |
| 9 | Grange Mutual | $804 |
| 10 | General Casualty | $805 |
| 11 | Motorists Mutual | $824 |
| 12 | Central Mutual | $866 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $893 |
| 15 | Atlantic States | $904 |
| 16 | Westfield | $946 |
| 17 | Western Reserve | $970 |
| 18 | Auto-Owners | $988 |
| 19 | Progressive | $991 |
| 20 | Nationwide | $1,018 |
| Quote Your Rates Go | ||
Utica National has some of the most affordable car insurance rates in Columbus at around $647 a year. Allied, Erie, Frankenmuth, and Travelers are also some of the lowest-priced Columbus, OH car insurance companies.
As depicted above, if you currently have coverage with Allied and switched to Utica National, you may realize a yearly price reduction of in the neighborhood of $22. Customers with Erie might save as much as $34 a year, and Frankenmuth customers might cut rates by $54 a year.
Be aware that those prices are averaged for all ages of drivers and types of vehicles and do not factor in a specific vehicle garaging location for drivers requiring a SR22. So the car insurance company that fits your needs best may not even be in the top 33 companies in the list above. That helps illustrate why you need to compare rates from multiple companies using your own specific driver and vehicle information.
For high risk drivers, one of the more important criteria that are looked at to help calculate the cost of insurance is where you live. Cities with larger populations are more likely to pay higher prices, whereas more rural areas profit from lower rates.
The table below lists the most expensive areas in Ohio for drivers requiring a SR22 to buy car insurance in. Columbus is ranked at #3 with an annual cost of $1,247 for car insurance, which is approximately $104 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Youngstown | $1,273 |
| 2 | Cleveland | $1,259 |
| 3 | Columbus | $1,247 |
| 4 | Toledo | $1,241 |
| 5 | Cincinnati | $1,222 |
| 6 | Cleveland Heights | $1,214 |
| 7 | Akron | $1,169 |
| 8 | Euclid | $1,164 |
| 9 | Dayton | $1,142 |
| 10 | Hamilton | $1,135 |
| 11 | Newark | $1,095 |
| 12 | Lakewood | $1,073 |
| 13 | Springfield | $1,072 |
| 14 | Fairfield | $1,063 |
| 15 | Canton | $1,058 |
| 16 | Beavercreek | $1,047 |
| 17 | Middletown | $1,035 |
| 18 | Mansfield | $1,032 |
| 19 | Kettering | $1,020 |
| 20 | Lorain | $1,015 |
| 21 | Strongsville | $1,001 |
| 22 | Parma | $997 |
| 23 | Cuyahoga Falls | $997 |
| 24 | Elyria | $995 |
| 25 | Mentor | $978 |
| Compare Rates Now Go | ||
Rates are approximated as specific Columbus garaging address can raise or lower premiums significantly.
The vehicle model that needs insurance is one of the main factors when comparing cheaper coverage for drivers requiring a SR22. Vehicles with lower acceleration and performance, a plethora of safety features, or a track record of few liability claims will cost much less to insure than fast, unsafe models.
The next list shows insurance costs for a selection of the cheapest automobiles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $4,253 |
| Honda CR-V LX 2WD | $4,362 |
| Ford Escape XLT 2WD | $4,367 |
| Volkswagen Jetta S 2.5 Station Wagon | $4,693 |
| Toyota Prius | $4,700 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $4,763 |
| Dodge Grand Caravan CV | $4,811 |
| Ford Explorer XLT 4WD | $4,935 |
| Toyota Tacoma Double Cab 4WD | $5,036 |
| Nissan Altima 2.5 4-Dr Sedan | $5,043 |
| Chevrolet Impala LT | $5,036 |
| Ford Edge SEL 2WD | $5,114 |
| Chevrolet Equinox LT AWD | $5,167 |
| GMC Sierra SLE Regular Cab 2WD | $5,175 |
| Toyota Camry LE | $5,167 |
| Toyota RAV4 Limited 4WD | $5,208 |
| Honda Odyssey EX-L W/Rear Entertainment | $5,261 |
| Hyundai Elantra SE 4-Dr Sedan | $5,268 |
| Chevrolet Malibu LT | $5,263 |
| Chevrolet Silverado LTZ Crew Cab 4WD | $5,306 |
| Ford F-150 Lariat Crew Cab Platinum 2WD | $5,312 |
| Jeep Grand Cherokee Limited 4WD | $5,306 |
| Ford Focus SES 4-Dr Sedan | $5,389 |
| Start Your Quote Go | |
Prices above based on married male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Prices do not factor in specific Columbus, OH garaging location which can decrease or increase rates greatly.
Looking at the data, you can assume that models like the Honda Accord, Honda CR-V, Ford Escape, and Volkswagen Jetta are a few of the cheaper vehicles to insure for high risk drivers. The price for an auto insurance policy will be higher anyway because there is more liability risk for drivers requiring a SR22, but generally speaking those makes and models will most likely have the lowest insurance rates that you are likely to find.
Selecting the right car insurance company is hard considering how many companies provide coverage in Ohio. The information listed below can help you choose which companies to look at when comparing auto insurance rates for drivers requiring a SR22. The rankings below only include the largest auto insurers in America, so smaller companies are not included in these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The chart below shows how choosing a deductible can increase or decrease insurance costs when searching for cheap insurance for drivers requiring a SR22. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are applied.
As shown above, a 40-year-old driver could reduce rates by $216 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $324 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old, could shave as much as $718 annually by using higher deductibles when buying full coverage. When insureds make the decision to increase the deductibles on their policy, it’s a good idea to have spare funds to allow you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Rate comparison of full coverage and liability-only
Reducing premiums for car insurance is important to the majority of drivers, and one easy way to find cheap insurance for drivers requiring a SR22 is to not buy full coverage. The information below visualizes the comparison of car insurance costs with full coverage and liability only. The prices are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no discounts are factored in.
Averaged for all age groups, full coverage costs an extra $1,200 per year more than just insuring for liability. That is a large expense which might make you wonder if physical damage coverage is worth the money. There is no definitive guideline for eliminating physical damage insurance, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
There are some circumstances where eliminating full coverage is not recommended. If you haven’t paid off your loan, you must maintain physical damage coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.