The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, especially when looking for the best coverage prices for state employees. Because of the high cost, let’s introduce you to a few of the factors that help determine auto insurance rates, and find some ways to take the bite out of the next policy you buy.
The vehicle that is being insured is one of the biggest factors that determines if you can find the most economical insurance for state employees. Vehicles with lower acceleration and performance, excellent safety ratings, or a low likelihood of liability claims will cost much less to insure than higher performance models. The next table estimates insurance premiums for a selection of the most affordable automobiles to insure in Ohio.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,152 |
| Dodge Grand Caravan Hero | $1,335 |
| Ford Escape XLT 2WD | $1,383 |
| Hyundai Elantra GLS Touring Station Wagon | $1,388 |
| Honda Odyssey EX-L | $1,403 |
| Chevrolet Impala LTZ | $1,412 |
| GMC Sierra SLT Extended Cab 2WD | $1,427 |
| Ford F-150 Lariat King Ranch 2WD | $1,437 |
| Ford Fusion Sport 4-Dr Sedan | $1,427 |
| Toyota Prius | $1,429 |
| Ford F-350 XLT Crew Cab Harley Edition 2WD | $1,480 |
| Honda Accord LX-S 2-Dr Coupe | $1,499 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,504 |
| Chevrolet Equinox LS AWD | $1,526 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,534 |
| Toyota Tacoma 4WD | $1,550 |
| Ford Explorer Eddie Bauer AWD | $1,554 |
| Chevrolet Malibu LT | $1,560 |
| Ford Edge SEL 2WD | $1,603 |
| Toyota Camry XLE | $1,608 |
| Toyota RAV4 Limited 4WD | $1,636 |
| Nissan Rogue SL 2WD | $1,641 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,653 |
| Find Cheaper Rates Go | |
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rates do not factor in specific location information which can lower or raise auto insurance rates noticeably.
Looking at the data, we can assume that cars like the Honda CR-V, Dodge Grand Caravan, Ford Escape, Hyundai Elantra, and Honda Odyssey will definitely be some of the cheapest vehicles to insure for state workers.
One of the many factors that determine the amount you pay for auto insurance is where you normally keep your vehicle. Regions with larger populations or more claims are more likely to have higher rates, whereas areas that tend to be more rural have the enjoyment of a little cheaper coverage.
The table below ranks the most expensive areas in Ohio for state employees to purchase a policy in. Columbus is ranked at #4 with an annual cost of $1,199 for car insurance, which is approximately $100 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Toledo | $1,267 |
| 2 | Cleveland | $1,259 |
| 3 | Youngstown | $1,235 |
| 4 | Columbus | $1,199 |
| 5 | Cincinnati | $1,186 |
| 6 | Cleveland Heights | $1,178 |
| 7 | Euclid | $1,175 |
| 8 | Dayton | $1,142 |
| 9 | Hamilton | $1,135 |
| 10 | Akron | $1,123 |
| 11 | Fairfield | $1,085 |
| 12 | Canton | $1,069 |
| 13 | Springfield | $1,061 |
| 14 | Newark | $1,053 |
| 15 | Lakewood | $1,041 |
| 16 | Strongsville | $1,031 |
| 17 | Cuyahoga Falls | $1,027 |
| 18 | Beavercreek | $1,027 |
| 19 | Middletown | $1,024 |
| 20 | Mansfield | $1,022 |
| Find Cheaper Rates Go | ||
Information shown are comparative as the garaging address in Columbus can decrease or increase coverage prices noticeably.
Difference between full coverage and liability only rates
Saving on insurance is important to most drivers, and a good way to find cheaper insurance for state employees is to only buy liability coverage. The diagram below visualizes the comparison of insurance costs with and without full coverage. The costs are based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no other discounts are factored in.
On average, full coverage on your policy costs an extra $1,782 per year more than buying just liability insurance. Lot’s of drivers question if buying full coverage is a waste of money. There is no specific rule that is best for determining when to drop physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
Get discount Columbus car insurance rates
Insurance providers that provide coverage for state employees could also offer price discounts that could reduce prices by 30% or more if you meet certain criteria. Popular insurance companies and some of their more popular discounts include:
- State Farm has savings for anti-theft, good driver, accident-free, good student, Drive Safe & Save, and student away at school.
- Farmers Insurance offers discounts for homeowner, distant student, bundle discounts, teen driver, switch companies, youthful driver, and business and professional.
- Progressive discounts include multi-vehicle, continuous coverage, online signing, online quote discount, homeowner, and good student.
- GEICO policyholders can earn discounts including daytime running lights, five-year accident-free, military active duty, air bags, good student, seat belt use, and defensive driver.
- Auto-Owners Insurance offers premium reductions for air bags, mature driver, group or association, multi-policy, anti-theft, paperless, and paid in full.
- The Hartford includes discounts for defensive driver, driver training, air bag, good student, bundle, and vehicle fuel type.
- Farm Bureau may offer discounts for multi-vehicle, good student, multi-policy, driver training, safe driver, renewal discount, and youthful driver.
- USAA has discounts for driver training, new vehicle, loyalty savings, multi-policy, military installation, and defensive driver.
The chart below illustrates the comparison of insurance rates with and without discounts being applied to the rates. The information is based on a male driver, no accidents, no driving violations, Ohio state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with multiple vehicle, multiple policy, claim-free, passive restraint, vehicle safety, and anti-theft discounts applied. When these discounts are applied, theaverage yearly reduction on insurance for state employees is 28% or $400.
Why you should shop around
Ohio insurance rates are calculated based on many things that can increase the cost of your policy. Improving your credit score, becoming a homeowner, or getting into an accident may generate price changes that may make certain companies cheaper than competitors. Additionally, insurers change rates as often as every quarter in order to maintain liquidity for claims. Significantly higher claims may result in more expensive prices, while a better claims history may cause lower-cost Columbus car insurance rates.
The chart below compares the cheapest car insurance in Columbus, OH for a 40-year-old male driver with no prior claims, no tickets, and great credit. Based on his current risk profile, Utica National offers the lowest car insurance rates in Columbus at $765 each year. This is $275 less than the average price paid by Ohio drivers of $1,040. Allied, Erie, Frankenmuth, and USAA are the remaining cheapest Columbus, OH auto insurance companies.
Now let’s give the driver from the first example an accident surcharge, poor credit, and a stop sign violation. Because each company uses their own calculation to determine rates, analyzing rate quotes could result in a slightly different list of companies as shown below.
Merchants Insurance Group now has the best auto insurance rate in Columbus with Cincinnati Insurance, General Casualty, Grange Mutual, and Motorists Mutual now rounding out the top five. This illustrates why consumers need to take the time to shop around to get affordable insurance quotes for state employees. Prices are impacted by many factors and can decrease or increase without notice, so the cheapest rate when you last compared rates may now be quite expensive.