Wouldn’t it be great if you could just know the best company in Columbus that has the cheapest coverage after a speeding ticket? Regrettably, it’s not quite that easy, as there are a whole bunch of unknown elements such as if you own a home, where you live, and how old you are, that all have an effect on the price. The content below covers the different scenarios that increase car insurance cost and will hopefully give you a good beginning to your quest for cheaper car insurance.
Determining which company quotes the most affordable auto insurance rates after a speeding ticket involves a little more work in order to find the best policy. Every insurance company has a proprietary formula for setting prices, so let’s take a look at the overall cheapest auto insurance companies in Ohio.
Best Car Insurance Prices with Licence Points
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $661 |
| 3 | Allied | $669 |
| 4 | Frankenmuth | $687 |
| 5 | Travelers | $712 |
| 6 | USAA | $733 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $755 |
| 9 | Motorists Mutual | $800 |
| 10 | Grange Mutual | $828 |
| 11 | General Casualty | $837 |
| 12 | Central Mutual | $848 |
| 13 | Hastings Mutual | $866 |
| 14 | State Farm | $867 |
| 15 | Atlantic States | $913 |
| 16 | Westfield | $936 |
| 17 | Progressive | $953 |
| 18 | Western Reserve | $961 |
| 19 | Nationwide | $988 |
| 20 | Auto-Owners | $998 |
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Utica National may offer some of the most affordable car insurance rates in Columbus at around $647 per year. Erie, Allied, Frankenmuth, and Travelers also rank well as some of the lowest-priced Columbus, OH car insurance companies.
As shown above, if you currently have a policy with Allied and switched to Utica National, you may realize an annual savings of upwards of $22. Policyholders with Frankenmuth might save as much as $40 a year, and Travelers policyholders might reduce rates by $65 a year.
If you want to find out if you’re overpaying, click here to get quotes or visit any of the low-priced companies below.
These rates are averages for all drivers and vehicles and are not factoring in an exact vehicle garaging location after a speeding ticket. So the car insurance company that fits you best 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 information and vehicle.
After a few driving violations, one of the big things that are looked at to help calculate insurance cost is where you call home in Columbus. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.
The illustration below shows the most expensive places in Ohio after a speeding ticket in which to purchase auto insurance. Columbus is ranked at #5 with the annual price of $1,199 for the average insured, which is about $100 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Youngstown | $1,285 |
| 2 | Toledo | $1,279 |
| 3 | Cleveland | $1,259 |
| 4 | Cleveland Heights | $1,202 |
| 5 | Columbus | $1,199 |
| 6 | Cincinnati | $1,174 |
| 7 | Euclid | $1,164 |
| 8 | Akron | $1,157 |
| 9 | Hamilton | $1,146 |
| 10 | Dayton | $1,142 |
| 11 | Springfield | $1,105 |
| 12 | Fairfield | $1,095 |
| 13 | Lakewood | $1,073 |
| 14 | Canton | $1,069 |
| 15 | Newark | $1,063 |
| 16 | Middletown | $1,035 |
| 17 | Parma | $1,027 |
| 18 | Beavercreek | $1,027 |
| 19 | Mansfield | $1,022 |
| 20 | Strongsville | $1,011 |
| 21 | Kettering | $1,009 |
| 22 | Cuyahoga Falls | $997 |
| 23 | Elyria | $995 |
| 24 | Lorain | $985 |
| 25 | Mentor | $978 |
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Rates are comparative as vehicle location can influence insurance rates significantly.
The information below demonstrates how choosing different deductibles can impact insurance premiums when researching cheap insurance after a speeding ticket. The information is based on a single female driver, full coverage, and no discounts are applied.
In the chart above, a 30-year-old driver could save $288 a year by switching from a $100 deductible up to a $500 deductible, or save $434 by changing to a $1,000 deductible. Even younger drivers, like the age 20 example, could potentially save $640 each year by selecting a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it is important to have enough savings set aside to be able to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Liability only or full coverage
Buying cheaper auto insurance should be important to most people, and a great way to find cheap insurance after a speeding ticket is to buy only liability coverage. The diagram below compares insurance prices when comparing full coverage to liability only. The costs are based on no accidents or driving violations, $500 deductibles, single status, and no other discounts are factored in.
As an overall average, full coverage on your policy costs $1,077 per year more than just buying liability only. That is a large expense and it proposes the question if buying full coverage is a good investment. There is no clear-cut formula to stop buying comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $10,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $9,000 after the deductible is paid. If you are paying in excess of $900 annually to have full coverage, then it might be time to consider dropping full coverage.
Auto insurance rates are higher with tickets and accidents
In a perfect world, the ideal way to enjoy good auto insurance premiums in Ohio after a few driving violations is to be a careful driver and avoid getting tickets or having accidents. The example below shows how speeding tickets and at-fault accidents drive up auto insurance rates for different insured age categories. The rate quotes are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
The chart shows that the average cost of auto insurance per year with a clean driving record and no accidents is $979. Add in two speeding tickets and the average cost hikes up to $1,381, an increase of $402 each year. Then add in two accidents along with the two speeding tickets and the 12-month cost of auto insurance after a speeding ticket jumps again to an average of $3,077. That’s an increase of $2,098, or $175 per month, just for not driving attentively!