Average car insurance cost in Toledo, OH

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Based on an analysis by Insure.com, the typical car insurance expense in Toledo, Ohio is $1,601 annually. Furthermore, car insurance premiums in Toledo are $184 more than compared to the state average in Ohio and $294 less than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Toledo, the average car insurance rates by age and gender, and the costs in Toledo based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Toledo. Keep reading to learn more.

Cheap car insurance companies in Toledo

Grange Insurance offers the most affordable car insurance in Toledo for coverage limits of 100/300/100 at $1,085 per year.

The Auto-Owners comes close second offering car insurance at $1,200 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Toledo that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Toledo, Ohio:

Read about the best car insurance companies.

Average car insurance cost in Toledo by coverage limits

In Toledo, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $449 per year (limits are 25/50/25)
• Liability only coverage: $569 per year (limits are 50/100/50)
• Full coverage: $1,601 per year (limits are 100/300/100)
• Non-owners coverage: $258 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Toledo

In Toledo, Ohio, the average annual car insurance premium for female drivers is $1,610 per year.

While the average annual cost for male drivers is $1,592 per year, which is $18 less than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Toledo

Car insurance rates in Toledo, are highest for teens at $5,383 per year or $449 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $2,611 annually for their car insurance, which is $2,772 less than what teens pay for their insurance coverage.

In Toledo, adult drivers pay an average of $1,614 per year for car insurance, while senior drivers pay $1,663 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Toledo

If we look at the car insurance rates trends in Toledo, Ohio, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 35%, or $414.

The table below shows the trend for last four years:

Conclusion

Car insurance rates in Toledo are higher than the average rates in Ohio. Drivers in Toledo can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.