There are three things guaranteed in life: death, taxes, and car insurance rate hikes.
Columbus drivers can’t do anything about the first two, but they can take steps to prevent increases in their insurance rates. There are a lot of factors that determine the price you pay for auto insurance coverage, but the criteria listed below are the primary causes of high rates.
- Driving habits – The primary cause of high car insurance rates is traffic law violations and at-fault accidents. These are both preventable just by being a more attentive driver. A single violation like a speeding ticket or running a red light can increase rates by 10% or more. And the violation can stick with you for up to three years. Throw in an at-fault accident, and your rates could jump by as much as 50%.
- Choice of vehicle – It’s tempting to buy the newest, fastest sports car or SUV, but you’ll pay higher premiums if you do. Expensive cars or ones with higher performance driving characteristics will cost more to insure. Not only are replacement parts more expensive, but they tend to have higher, more costly liability claims which drive up rates. If you want to save money on insurance, choose a vehicle with a high safety rating, a low likelihood of liability claims, and a lower horsepower rating.
- Coverage limits – Having a low deductible is great when you file a claim because it means less money out-of-pocket. But choosing lower deductibles like $100 or $250 could cost you much more in the long run. Raising deductibles to $500 or even $1,000 can lower rates substantially. You will need to have ample savings available to pay the deductible if you do have a claim, but the money saved on the higher deductible will often offset the higher out-of-pocket expense.
How to Save Money on Auto Insurance in Columbus, OH
There are a lot of ways to reduce your annual auto insurance bill, but the recommendations listed below will get you much better rates.
- The best way to find lower rates is to shop around. Drivers who compare rates at least once a year pay less than those who do not comparison shop. A recent study showed that shopping around can save over $850 a year.
- Consider dropping full coverage on older vehicles. The 10% rule is loosely used to determine when to drop comprehensive and collision coverage. When the cost of full coverage is more than 10% of the value of your vehicle, it might be a good time to consider removing physical damage coverage.
- Raising comprehensive and collision coverage deductibles saves a lot of money. If you don’t file claims often, a higher deductible will save money because you pay less for coverage. The caveat is that you pay more if you do have a claim, but ideally the savings from the lower rates will more than offset the higher deductible.
- Clean up your credit and your rates will drop. Good credit not only impacts your ability to buy a vehicle, but it also helps determine your car insurance rates. Maintaining a good credit score shows that you are financially responsible and insurers will reward you with a better premium rate.
How Much Does Auto Insurance Cost in Columbus?
Insurance companies use a lot of factors to determine policy rates and you may not get the same rate as your neighbor or your best friend. Things like your marital status, financial stability, driving record, where you live in Columbus, your occupation, and your age all contribute to the price you pay.
The table below shows sample rates for popular vehicles in Columbus. These examples are based on a 50 year old married male driver who has no violations or at-fault accidents, $1,000 deductibles, and minimum Ohio liability limits. Uninsured and underinsured motorist coverage is included. Policy discounts include multi-policy, homeowner, multi-vehicle, and claim-free. The rates do not factor in an exact location in Columbus, which can raise or lower rates substantially. Locations with high incidents of theft or vandalism have higher physical damage coverage rates. If your vehicle is not shown, choose from over 400 makes and models here.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LS Crew Cab 2WD||$616||$308||$51|
|Dodge Ram Crew Cab Sport 2WD||$626||$313||$52|
|Ford Escape XLT 2WD||$456||$228||$38|
|Ford F-150 XLT Super Cab 4WD||$522||$261||$44|
|Ford Focus S 4-Dr Sedan||$528||$264||$44|
|Honda Accord LX 4-Dr Sedan||$456||$228||$38|
|Honda CR-V EX 2WD||$456||$228||$38|
|Honda Civic SI 4-Dr Sedan||$594||$297||$50|
|Hyundai Elantra GLS 4-Dr Sedan||$566||$283||$47|
|Hyundai Sonata GLS 4-Dr Sedan||$576||$288||$48|
|Jeep Grand Cherokee Limited 2WD||$578||$289||$48|
|Nissan Altima 3.5 SR 4-Dr Sedan||$578||$289||$48|
|Toyota Camry Hybrid||$616||$308||$51|
|Toyota Corolla XLE||$566||$283||$47|
|Volkswagen Jetta SEL 4-Dr Sedan||$578||$289||$48|
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