Car Insurance in Toledo, OH
Experts break down auto insurance costs, coverages, companies, and more in Toledo, OH.
Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
Accidents happen. Even the most careful drivers can sometimes find themselves involved in collisions. From fender benders on Monroe Street to multi-car collisions on I-75, when you have a good car insurance policy, you do not need to worry that you will face large financial losses as a result.
Independent insurance agents are available to help you find a reliable, yet affordable, car insurance policy that meets all of your coverage needs. Find an independent insurance agent in Toledo to learn more and to start comparing customized car insurance quotes from some of the area’s leading insurers.
How Much Does Car Insurance Cost in Toledo, OH?
The good news for Toledo drivers is that the average cost of car insurance in the Buckeye State is much lower than the national average.
- National average annual car insurance cost: $1,311
- Ohio average annual car insurance cost: $843
Of course, an average can only give you a ballpark idea of what you might actually be expected to pay. Auto insurance costs are calculated according to a variety of factors such as:
- The year, make, and model of the vehicle(s) you are insuring
- Your age, gender, occupation, driving record, and credit score
- Information about other licensed drivers in your household
- Whether you own or rent your home
- The amount of liability insurance you are purchasing
- Which, if any, coverage options you are including in your policy
- Your claims history and credit score
- The size of your deductible
If you bundle your car insurance with other policies like homeowners insurance or renters insurance, you may qualify for significant rate reductions on all your bundled policies. Be sure to ask about this and other potential car insurance discounts when you contact insurance providers to request customized quotes.
Why Should Toledo, OH Drivers Compare Car Insurance Quotes Before Buying a Policy?
Every insurance company has its own way of determining how much a policy will cost you. This means that you are likely to get different quotes from each company you contact for rates.
By comparing a selection of car insurance quotes, you can choose the policy that offers the coverage you want at the lowest price. Doing this can save you a lot of money in the long run. Independent insurance agents make comparison shopping easy.
Is Car Insurance Required in Toledo, Ohio?
Yes. If you own a vehicle in Toledo, Ohio state law requires you to cover it with car insurance before you can legally take it out on the road.
If caught, uninsured drivers can have their license, plates, and vehicle registration suspended. They can also face fees, fines, and the requirement to maintain an SR-22 for three to five years. Additionally, having an uninsured driving conviction on your record can cause an increase in your car insurance rates.
What Does Toledo, OH Car Insurance Cover?
Car insurance policies are typically a mixture of required and optional coverage. As a vehicle owner in Toledo, you are required by law to have a policy that meets or exceeds Ohio’s minimum coverage requirements.
In this state, your policy is required to include liability coverage. This can cover costs related to other people’s injuries and property damage if you are responsible for a collision. Your liability coverage must meet or exceed the following coverage amounts:
- Bodily injury liability insurance per person: $25,000
- Bodily injury liability insurance per accident: $50,000
- Property damage liability insurance per accident $25,000
Additionally, if you are still paying for your car or you have it on a lease, you may be required by your lender or dealership to also carry physical damage coverage. This can cover loss or damage to your own vehicle. It includes:
- Collision insurance: This covers the cost to repair or replace your vehicle if it is damaged or totaled in a collision, regardless of fault.
- Comprehensive insurance: This covers the cost to repair or replace your vehicle if it is damaged or totaled by a non-collision event such as a hailstorm or theft.
In addition to the coverage mentioned above, most car insurance companies also offer a variety of coverage options. These can include:
- Uninsured motorist insurance: This can cover medical treatment for you and your passengers if you are injured in a collision that was caused by an uninsured, underinsured, or hit-and-run driver.
- Medical payments insurance: This can help pay for costs related to any necessary medical treatment you or your passengers may need if you are injured in a collision, regardless of fault.
- Gap insurance: This can pay off your car loan if your vehicle is totaled in a covered event but you owe more for it than it is worth. This insurance is usually only needed during the first year or two of new-vehicle ownership when depreciation is fastest.
- Auto glass insurance: This can cover replacement costs, including labor, if your windshield, sunroof, or windows are cracked, shattered, or otherwise damaged.
- Rental car reimbursement coverage: This can cover the cost of renting a vehicle while yours is being repaired following a covered event.
- Roadside assistance coverage: This can cover the cost of necessary assistance if your vehicle breaks down or is otherwise inoperable and you need to call for help and/or a tow truck.
Having a basic policy that includes only the required minimum liability coverage will be your least expensive option, but it can end up costing you more if you are in an accident. If you only carry liability insurance in your policy, you will not have any coverage for damage to your own vehicle if you cause a collision.
Also, if you are at fault for an accident and your liability limits are too low, you will need to make up the difference out of pocket, and this can be very expensive. That is why many drivers in Toledo buy more liability coverage than the state requires. Some also supplement with umbrella insurance.
Why Is Uninsured Motorist Insurance So Important in Toledo, OH?
Even though driving without insurance in Ohio is illegal, more than one out of ten motorists in this state is operating an uninsured vehicle.
- Percentage of US drivers who are uninsured: 13.0%
- Percentage of Ohio drivers who are uninsured: 12.4%
If you are in a collision caused by an uninsured driver, that person will be responsible for covering your property damage and treatment of injuries for you and your passengers.
Coverage for damage to your vehicle can be covered by collision insurance, if you have included it in your car insurance policy. However, collecting funds to cover your medical bills may require you to go through lengthy legal channels just to see a fraction of what you are entitled to.
Fortunately, if you have included uninsured motorist insurance in your car insurance policy, you can rest assured that if this happens to you, your insurance company can immediately provide you with coverage for your medical treatment and related costs.
How High Is the Auto Theft Rate in Toledo, OH?
The auto theft rate in Ohio is lower than the national average. However, in Toledo, the risk is higher. Residents of this city report around 750 auto thefts a year.
- National auto theft rate per 1,000 people: 2.29
- Ohio auto theft rate per 1,000 people: 1.70
- Toledo auto theft rate per 1,000 people: 2.90
You can only be reimbursed for a stolen car if your car insurance policy includes comprehensive coverage. If you are financing or leasing your vehicle, chances are good that you have this coverage already. If not, you may want to look into how much it would cost for you to add it to your auto insurance policy.
What Are the Best Car Insurance Companies in Toledo, Ohio?
The best car insurance companies in Ohio are the ones that have a solid track record of offering their policyholders reliable coverage, excellent customer service, and reasonable rates.
Independent insurance agents in Toledo have built relationships with many of these top-rated insurance companies, so you can rest assured that any policies they recommend to you are coming from trustworthy insurers.
How Can an Independent Agent in Toledo, OH Help Me Find the Best Car Insurance?
A local independent agent can answer your questions about car insurance, explain your many coverage options, and help you review coverage and prices from a few competing providers. That way you can choose the policy that offers you the protection you want at the most competitive price.
Independent agents can be a great source of information when you are looking for any kind of insurance policy. Best of all, it doesn’t cost anything to consult one of these agents for guidance and advice. Contact an independent insurance agent with an office near you to get started.
http://www.city-data.com/city/Toledo-Ohio.html
https://www.bmv.ohio.gov/dl-mandatory-insurance.aspx
https://publicsafety.ohio.gov/static/bmv3135.pdf