The vehicle you are buying coverage for is probably the most important factor when comparing the best coverage for business use. Vehicles with limited top-end speed, excellent safety ratings, or low incidents of liability claims will cost quite a bit less to insure than higher performance models.
The information below features car insurance prices for a selection of the more affordable vehicles to insure in Ohio.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,170 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,189 |
| Ford Explorer XLT 2WD | $1,284 |
| Toyota Tacoma 4WD | $1,291 |
| Ford Escape XLS 2WD | $1,308 |
| Chevrolet Malibu LS | $1,354 |
| Chevrolet Equinox LS AWD | $1,361 |
| Honda Odyssey EX-L | $1,425 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,435 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,451 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,457 |
| Nissan Rogue S 2WD | $1,451 |
| Jeep Grand Cherokee SRT-8 4WD | $1,458 |
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Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Information does not factor in vehicle location which can influence insurance rates significantly.
Based upon these rates, you can see that vehicles like the Honda CR-V, Jeep Wrangler, and Ford Explorer are most likely to be some of the cheaper vehicles to insure for using your car for business. Auto insurance rates will tend to be more expensive because there is more liability risk for business use, but overall those specific models will have the least expensive rates available.
Finding decent, low-priced insurance is not the easiest thing to accomplish, and figuring out which company has the lowest-priced car insurance rates for business use involves a little more work. Each company uses their own calculation to set policy rates, so we need to take a look at the most budget-friendly car insurance companies in Ohio.
We do need to point out that Ohio car insurance rates are calculated based on many things that control your annual premium. This price variation is why it is so important to perform a complete rate comparison when trying to get the lowest car insurance quotes for business use. Insurance rates are calculated by many different factors and can change substantially, so the best company two years ago may now be quite expensive.
Find the Best Cheap Insurance for Business Use
Utica National may offer some of the cheapest car insurance rates in Columbus at around $635 each year. Allied, Erie, Frankenmuth, and USAA also qualify as some of the more affordable Columbus, OH insurance companies.
As shown in the rates above, if you currently have coverage with Allied and switched to Utica National, you could earn a yearly price reduction of around $41. Customers with Erie may save as much as $52 a year, and Frankenmuth policyholders might lower prices by $66 a year.
These policy prices are averages across all drivers and vehicles and and are not figured with an exact zip code location for business use. So the auto insurance company that has the lowest price for you may not even be in the top 33 companies shown above. That underscores the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.
For using your car for business, one of the largest criteria that are used to help calculate insurance cost is the neighborhood you call home in Columbus. Larger areas tend to pay more, whereas areas that tend to be more rural benefit from lower coverage costs.
The next table ranks the priciest cities in Ohio for business use to purchase car insurance in. Columbus is listed at #5 with a yearly premium of $1,211 for the average insured, which is approximately $101 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Toledo | $1,267 |
| 2 | Youngstown | $1,247 |
| 3 | Cleveland | $1,235 |
| 4 | Cleveland Heights | $1,214 |
| 5 | Columbus | $1,211 |
| 6 | Cincinnati | $1,210 |
| 7 | Dayton | $1,154 |
| 8 | Euclid | $1,140 |
| 9 | Akron | $1,135 |
| 10 | Hamilton | $1,135 |
| 11 | Fairfield | $1,095 |
| 12 | Newark | $1,085 |
| 13 | Springfield | $1,072 |
| 14 | Middletown | $1,066 |
| 15 | Lakewood | $1,063 |
| 16 | Canton | $1,058 |
| 17 | Kettering | $1,040 |
| 18 | Cuyahoga Falls | $1,037 |
| 19 | Beavercreek | $1,027 |
| 20 | Parma | $1,007 |
| 21 | Strongsville | $1,001 |
| 22 | Mansfield | $992 |
| 23 | Mentor | $988 |
| 24 | Lorain | $975 |
| 25 | Elyria | $965 |
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Annual rates are approximated as specific Columbus zip code can lower or raise prices substantially.
Accidents and violations increase rates
The recommended way to maintain good car insurance prices in Columbus for using your car for business is to be a cautious driver and not have accidents or get tickets. The illustration below shows how violations and accidents drive up auto insurance costs for different insured age categories. The premium estimates are based on a married male driver, full physical damage coverage, $100 deductibles, and no discounts are applied.
In the chart above, the average cost of an auto insurance policy in Columbus per year with a clean driving record and no accidents is $1,493. Receive one speeding ticket and the average cost hikes up to $1,714, an increase of $221 each year. Next add one accident along with the one speeding ticket and the annual cost of car insurance for business use jumps again to an average of $2,345. That’s an increase of $852, or $71 per month, just for a couple of infractions!
How to find a good Columbus car insurance company
Finding a high-quality car insurance company can be rather challenging considering how many companies there are in Ohio. The company ratings displayed below could help you analyze which providers to look at putting your business with.
These ratings only include major nationwide insurance companies, so companies without a large exposure are not taken into consideration for this list. To compare price quotes from these top insurers and more, simply click here.
| 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 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
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Data Source: Insure.com Best Car Insurance Companies
Here’s why you should shop around
Ohio car insurance rates are based on many factors that may substantially change the policy price. Simply having another birthday, buying a new vehicle, or getting a DUI may cause policy rate changes that can cause some rates to be cheaper than competitors. Additionally, auto insurance companies modify rates at least once a year to adjust for heavy claims or excess profits. Heavier than normal losses can result in higher rates, while a lower level of claims may produce more affordable Columbus car insurance rates.
To illustrate this point, the graph below shows the company with the cheapest car insurance in Columbus, OH for a 30-year-old female driver with no accidents, a clean driving record, and solid credit. If we estimate prices based on her current risk profile, Utica National may have the lowest car insurance rates in Columbus at $762 a year. This is $278 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are the remainder of the top five cheapest Columbus, OH auto insurance companies.
Let’s now give the driver in the first example a chargeable accident, poor credit, and a speeding citation. Since each company has a unique approach for filing rates in each state, analyzing rates may now show a different set of the cheapest car insurance companies in Columbus as shown below.
Cincinnati Insurance now has the best price on car insurance in Columbus with Merchants Insurance Group, General Casualty, Motorists Mutual, and Grange Mutual also having competitive pricing. This example demonstrates why consumers need to compare lots of rates to get the most economical auto insurance quotes for business use.
Insurance rates are made up of many things and change frequently, so the most affordable company a year ago may now be priced much higher than other options.
How to find budget-friendly car insurance for business use
Lowering your rates is not difficult, and here are a few thrifty ideas that can help drivers get cheap auto insurance.
- Avoid accidents and claims
- Raise your physical damage coverage deductibles
- Save money by only buying liability coverage for older vehicles
- Do not get traffic tickets
- Claim-free drivers earn discounts
- Shop around for cheaper prices often
The last suggestion is extraordinarily crucial, as we hit on in this write-up. Insurance rates fluctuate constantly, so drivers shouldn’t be resistant to buy from a new company if a more affordable price is available.
Sticking with a specific company is fine, but it isn’t a good idea if that inflexibility results in costing you lots of hard earned cash every month. It only take a few minutes to shop around to find cheaper auto insurance for business use in Columbus.