It’s impossible to miss the captivating ads from car insurance companies like Allstate, Farmers, and Progressive that guarantee huge savings, so drivers should just choose any of them, right?
Regrettably, it’s not quite that easy, as there are a ton of unknown factors like what deductibles you want to use, your gender, your financial responsibility, and your annual mileage driven, that help determine the price you have to pay. We will touch on the best ways to avoid high prices and will give you a good start in finding the cheapest car insurance in Columbus.
The type of vehicle driven is one of the primary factors in finding the most affordable coverage for drivers over age 60. Vehicles with lower acceleration and performance, excellent safety ratings, or a low likelihood of having liability claims will cost significantly less to insure than high performance models.
The next list shows auto insurance prices for a selection of the most budget-friendly automobiles to insure in Ohio.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,251 |
| Ford Escape XLT 4WD | $1,256 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,330 |
| Toyota Prius | $1,355 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,371 |
| Ford Explorer XLT AWD | $1,377 |
| Ford F-150 XL Crew Cab 4WD | $1,396 |
| Ford Edge Limited 2WD | $1,424 |
| Ford Focus S 4-Dr Sedan | $1,433 |
| Toyota Tacoma 2WD | $1,424 |
| Chevrolet Silverado LS Extended Cab 4WD | $1,449 |
| Chevrolet Equinox LS 2WD | $1,455 |
| Chevrolet Malibu LS | $1,449 |
| Chevrolet Impala LT | $1,458 |
| Dodge Grand Caravan Hero | $1,449 |
| Toyota RAV4 Limited 4WD | $1,457 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,528 |
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Table data assumes single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Rate quotes do not factor in specific Columbus, OH garaging location which can modify premiums considerably.
Based upon the table data, you can expect cars like the Honda CR-V, Ford Escape, and Volkswagen Jetta are a few of the most economical vehicles to insure for older drivers.
Establishing which company quotes the lowest-priced car insurance rates for drivers over age 60 will require a little more sweat in order to find the lowest price quote. Each company has their own unique process for establishing rates, so we need to take a look at the lowest cost car insurance companies in Columbus, OH.
Best Insurance Companies for Age 60+
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $661 |
| 3 | Allied | $669 |
| 4 | Frankenmuth | $680 |
| 5 | USAA | $711 |
| 6 | Travelers | $726 |
| 7 | Merchants Insurance Group | $748 |
| 8 | Cincinnati Insurance | $749 |
| 9 | Motorists Mutual | $824 |
| 10 | Grange Mutual | $828 |
| 11 | General Casualty | $829 |
| 12 | Central Mutual | $840 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $884 |
| 15 | Westfield | $918 |
| 16 | Atlantic States | $940 |
| 17 | Western Reserve | $941 |
| 18 | Auto-Owners | $988 |
| 19 | Progressive | $991 |
| 20 | Nationwide | $1,018 |
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Utica National normally has some of the most affordable car insurance rates in Columbus at around $647 each year. Erie, Allied, Frankenmuth, and USAA also rank well as some of the more affordable Columbus, OH insurance companies.
As shown in the rates above, if you are a policyholder with Frankenmuth and switched to Erie, you may realize yearly savings of approximately $19. Drivers with USAA may save as much as $50 a year, and Travelers customers might lower prices by $65 a year.
Understand that those estimates are averages for all drivers and vehicles and do not take into consideration an exact location for drivers over age 60. So the auto insurance company that has the cheapest price for you may not even be in the list above. That affirms the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.
The chart below demonstrates how deductibles can influence annual premium costs when searching for cheap insurance for drivers over age 60. Data assumes a married female driver, comprehensive and collision coverage, and no policy discounts are applied.
A 40-year-old driver could cut expenses by $210 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $316 by changing to a $1,000 deductible. Young drivers, like the Age 20 category, could lower their rates $516 each year by using a higher deductible. When raising deductibles, it’s a good idea to have enough savings to allow you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
How violations and accidents impact rates
A great way to get low car insurance prices for older drivers is to be an attentive driver and avoid accidents and traffic violations. The example below illustrates how traffic citations and fender-benders can influence auto insurance costs for different age groups. The rate quotes are based on a married female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are factored in.
In the prior example, the average cost of car insurance per year with a clean driving record and no accidents is $1,013. Get written up for two speeding tickets and the average cost jumps to $1,439, an increase of $426 each year. Next add one accident along with the two speeding tickets and the 12-month cost of car insurance for drivers over age 60 jumps again to an average of $1,864. That’s an increase of $851, or $71 per month, just for not keeping your driving record clean!
Why it’s important to shop around
Ohio car insurance rates are calculated based on many things that control the price you pay for coverage. Improving your credit score, buying a different home, or getting caught speeding can cause premium changes that can now make some companies cheaper than others. And not only may your rating factors change, but companies change rates as needed to adjust for gains or losses. A period of increased losses may result in more expensive prices, while a profitable period may result in lower-priced Columbus car insurance rates.
For instance, the bar chart below shows rates for the cheapest car insurance in Columbus, OH for a 30-year-old female driver with a good driving record, no prior claims, and a decent credit rating. Based on her current rating profile, Utica National offers the cheapest car insurance rates in Columbus at $804 per year. This is $236 less than the average price paid by Ohio drivers of $1,040. Allied, Erie, Frankenmuth, and USAA are the rest of the best Columbus, OH auto insurance companies.
The next chart shows rates after we give the driver in the first chart some claims, poor credit, and a traffic ticket or two. Since each auto insurer has a different process to set premium rates, comparing prices could result in a different list of the cheapest companies as shown below.
Cincinnati Insurance now has the cheapest auto insurance in Columbus with Merchants Insurance Group, Grange Mutual, Motorists Mutual, and General Casualty now rounding out the top five. This example demonstrates why it is critical to perform a complete rate comparison when trying to find the cheapest car insurance quotes for drivers over age 60. Rates are calculated by many things and change frequently, so the cheapest option three years ago may now not even be in the top five.