Are you trying to find more affordable insurance rates in Springboro, OH? If you're trying to find lower-priced insurance online, are you frustrated by the number of insurance sources available to you? Many other drivers are as well. Ohio vehicle owners have so many sources to choose from that it is a challenge to locate the lowest insurance rates. If you've ever been there, you know that Springboro is a great city to raise a family in, but expensive premiums for insurance can make it nearly impossible for many drivers to be able to afford adequate coverage.
Statistics show that most drivers in Ohio have remained with the same insurance company for more than four years, and nearly the majority have never even compared rates from other companies. Drivers in America could pocket nearly $859 a year by just comparing rate quotes, but they mistakenly think it's difficult to shop around.
If you're already insured, you will surely be able to buy cheaper car insurance using the following tips. Comparing quotes for the most affordable car insurance policy in Springboro is not as time-consuming as you think. Nevertheless, Ohio car owners benefit from understanding the methods companies use to calculate your car insurance rates and use this information to your advantage.
Informed consumers save more
Smart consumers have a good feel for a few of the rating criteria that are used to determine the level of your policy premiums. If you know what determines base rates, this helps enable you to make changes that can help you get better car insurance rates. Lots of factors are used in the calculation when pricing auto insurance. Some factors are common sense like your driving record, but other criteria are less obvious like where you live or how financially stable you are.
The factors shown below are some of the most common factors used by companies to determine premiums.
Your spouse saves you money - Having a spouse helps lower the price on car insurance. Having a spouse means you're less irresponsible and insurance companies like that married drivers tend to have fewer serious accidents.
When should you file a claims? - Car insurance companies in Ohio award cheaper rates to drivers who file claims infrequently. If you file a lot of claims you can look forward to much higher rates or policy non-renewal. Your car insurance is designed for larger claims.
Bump up coverage deductibles to lower rates - Physical damage protection, also called 'full coverage', covers damage that occurs to your car. A few examples of covered claims are colliding with a building, hail damage, and windstorm damage. Deductibles for physical damage tell how much the insured will be required to pay before your car insurance pays a claim. The more expense you're willing to pay, the less money you will pay for car insurance.
Improve your credit rating and save - Having a bad credit history is a large factor in determining what you pay. Insureds with excellent credit scores tend to be better risks to insure than drivers who have poor credit scores. If your credit score leaves room for improvement, you could pay less to insure your vehicle by improving your credit score.
Premiums are lower the older you get - Teenage drivers in Ohio tend to get distracted easily behind the wheel therefore car insurance rates are much higher. Having to add a teenage driver to your car insurance policy can cause a big jump in price. More mature drivers are more cautious drivers, file fewer claims, and get fewer tickets.
Affordable Springboro insurance quotes online
To get low cost Springboro auto insurance quotes, there a variety of ways of comparing rates from different Springboro insurance companies. The easiest way by far to compare insurance prices is to perform an online rate comparison. Just keep in mind that more quotes gives you a better chance of getting better pricing.
The providers in the list below can provide comparison quotes in Springboro, OH. If several companies are displayed, we suggest you click on several of them in order to find the cheapest rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LS AWD||$598||$299||$50|
|Chevrolet Impala LT||$802||$401||$67|
|Chevrolet Silverado LS Crew Cab 2WD||$926||$463||$77|
|Dodge Ram Crew Cab SLT 4WD||$832||$416||$69|
|Ford Edge SE AWD||$516||$258||$43|
|Ford Escape XLS 2WD||$760||$380||$63|
|Ford Explorer XLT 4WD||$572||$286||$48|
|Ford F-150 Lariat Crew Cab Platinum 2WD||$650||$325||$54|
|Ford Focus S 4-Dr Sedan||$746||$373||$62|
|Honda Accord LX-P 4-Dr Sedan||$456||$228||$38|
|Honda CR-V EX-L 2WD||$600||$300||$50|
|Honda Civic DX 4-Dr Sedan||$862||$431||$72|
|Hyundai Sonata Limited 4-Dr Sedan||$890||$445||$74|
|Kia Optima EX||$792||$396||$66|
|Mazda 3 S Grand Touring 4-Dr Hatchback||$748||$374||$62|
|Nissan Altima 2.5 4-Dr Sedan||$780||$390||$65|
|Nissan Rogue S AWD||$728||$364||$61|
|Toyota Camry Hybrid||$688||$344||$57|
|Toyota Corolla XRS||$768||$384||$64|
|Toyota Tacoma Double Cab 4WD||$612||$306||$51|
|Get Your Own Custom Quote Go|
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Price estimates do not factor in your specific Springboro location which can raise or lower premium rates noticeably.
Rate difference between full and liability-only coverage
The illustration below illustrates the comparison of Dodge Ram car insurance costs when comparing full coverage to state minimum liability only. Data assumes no accidents, no driving violations, $250 deductibles, single female driver, and no discounts are applied.
Dodge Ram rates are for example purposes only. To get rates for your specific vehicle, click here.
When to drop comp and collision
There is no clear-cut formula to drop comp and collision coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let's say your Dodge Ram claim settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after paying your deductible. If you are paying in excess of $800 annually to have full coverage, then it may be the right time to buy liability only.
There are some situations where dropping full coverage is not recommended. If you haven't satisfied your loan, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not buy liability only.
Can higher deductibles save money?
The chart below shows how choosing a deductible and can change Ford Focus annual premium costs for different age categories. The costs are based on a married female driver, full coverage, and no policy discounts are applied.
Ford Focus rates are for example purposes only. To get rates for your specific vehicle, click here.
Physical damage deductibles: Should you raise them?
One of the hardest decisions when shopping for auto insurance is which deductibles should you choose. The tables below can help illustrate the premium difference when you select higher and lower physical damage deductibles. The first price estimate table uses a $100 physical damage coverage deductible and the second price chart uses a $500 deductible.
Honda Civic rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Civic DX 4-Dr Sedan||$170||$352||$226||$14||$68||$855||$71|
|Civic VP 4-Dr Sedan||$170||$416||$226||$14||$68||$919||$77|
|Civic LX 4-Dr Sedan||$170||$416||$226||$14||$68||$919||$77|
|Civic DX 2-Dr Coupe||$170||$416||$284||$16||$84||$995||$83|
|Civic EX 4-Dr Sedan||$170||$416||$226||$14||$68||$919||$77|
|Civic LX-S 4-Dr Sedan||$170||$416||$226||$14||$68||$919||$77|
|Civic LX 2-Dr Coupe||$170||$478||$284||$16||$84||$1,057||$88|
|Civic EX-L 4-Dr Sedan||$196||$478||$226||$14||$68||$1,007||$84|
|Civic SI 4-Dr Sedan||$196||$478||$226||$14||$68||$1,007||$84|
|Civic EX 2-Dr Coupe||$196||$478||$284||$16||$84||$1,083||$90|
|Civic GX 4-Dr Sedan||$196||$478||$226||$14||$68||$1,007||$84|
|Civic EX-L 2-Dr Coupe||$196||$478||$284||$16||$84||$1,083||$90|
|Civic Hybrid 4-Dr Sedan||$220||$416||$226||$14||$68||$969||$81|
|Civic SI 2-Dr Coupe||$220||$542||$284||$16||$84||$1,171||$98|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Civic DX 4-Dr Sedan||$124||$238||$226||$14||$68||$670||$56|
|Civic VP 4-Dr Sedan||$124||$280||$226||$14||$68||$712||$59|
|Civic LX 4-Dr Sedan||$124||$280||$226||$14||$68||$712||$59|
|Civic DX 2-Dr Coupe||$124||$280||$284||$16||$84||$788||$66|
|Civic EX 4-Dr Sedan||$124||$280||$226||$14||$68||$712||$59|
|Civic LX-S 4-Dr Sedan||$124||$280||$226||$14||$68||$712||$59|
|Civic LX 2-Dr Coupe||$124||$324||$284||$16||$84||$832||$69|
|Civic EX-L 4-Dr Sedan||$142||$324||$226||$14||$68||$774||$65|
|Civic SI 4-Dr Sedan||$142||$324||$226||$14||$68||$774||$65|
|Civic EX 2-Dr Coupe||$142||$324||$284||$16||$84||$850||$71|
|Civic GX 4-Dr Sedan||$142||$324||$226||$14||$68||$774||$65|
|Civic EX-L 2-Dr Coupe||$142||$324||$284||$16||$84||$850||$71|
|Civic Hybrid 4-Dr Sedan||$160||$280||$226||$14||$68||$748||$62|
|Civic SI 2-Dr Coupe||$160||$366||$284||$16||$84||$910||$76|
|Get a Quote for Your Vehicle Go|
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price estimates do not factor in specific Springboro garaging location which can increase or decrease rates greatly.
Based on these figures, using a $100 deductible costs an average of $19 more each month or $228 for a full year than buying the higher $500 deductible. Due to the fact that you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally go more than 21 months between claims, you would probably save some money if you opt for a higher deductible.
Calculation for raising deductibles
|Average monthly premium for $100 deductibles:||$83|
|Average monthly premium for $500 deductibles (subtract):||- $64|
|Monthly savings from raising deductible:||$19|
|Difference between deductibles ($500 - $100):||$400|
|Divide difference by monthly savings:||$400 / $19|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||21 months|
One thing to note is that raising deductibles means you will have to pay more if you have a claim. That will require enough money put aside in the event you have to pay more for the deductible.
Insuring your vehicle just makes sense
Despite the high cost, insuring your vehicle is required in Ohio but also provides important benefits.
- Just about all states have mandatory liability insurance requirements which means you are required to buy specific minimum amounts of liability insurance in order to drive the car legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your vehicle, most lenders will stipulate that you have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you default on your policy, the lender may insure your vehicle at a much higher premium rate and require you to reimburse them for it.
- Car insurance protects not only your vehicle but also your financial assets. It will also pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if someone files suit against you as the result of an accident. If your vehicle gets damaged, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having car insurance are without a doubt worth the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is overpaying over $700 annually so smart consumers compare quotes at every policy renewal to ensure rates are inline.
Cheaper Springboro car insurance quotes with discounts
Car insurance companies don't necessarily list every policy discount very clearly, so the list below details some of the best known and the harder-to-find discounts that you can inquire about if you buy Springboro auto insurance online. If you are not receiving all the discounts possible, you are just wasting money.
- Discount for Multiple Policies - If you insure your home and vehicles with one company you will save over 10 percent off each policy depending on the company.
- Home Ownership Discount - Just owning your own home may trigger a policy discount on car insurance since home ownership requires a higher level of personal finance.
- ABS Brakes - Cars and trucks that have anti-lock braking systems are much safer to drive and earn discounts up to 10%.
- Discounts for Multiple Vehicles - Buying coverage for multiple vehicles with one company can reduce the rates for all insured vehicles.
- Early Switch Discount - A few companies allow discounts for buying a policy early. Ten percent is about the average savings.
- Defensive Driver Discount - Taking part in a course in defensive driver could cut 5% off your bill and also improve your driving technique.
- Telematics Devices - People who choose to allow data collection to analyze driving habits through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm could save a few bucks as long as the data is positive.
Don't be surprised that some of the credits will not apply to the whole policy. The majority will only reduce individual premiums such as comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, companies don't profit that way.
A few of the larger companies and a selection of discounts are included below.
- GEICO offers premium reductions for multi-policy, five-year accident-free, good student, anti-lock brakes, and multi-vehicle.
- MetLife may have discounts that include accident-free, defensive driver, good driver, claim-free, good student, multi-policy
- State Farm discounts include Drive Safe & Save, multiple autos, multiple policy, good student, passive restraint, Steer Clear safe driver discount, and accident-free.
- Progressive has discounts for online signing, good student, homeowner, multi-vehicle, and continuous coverage.
- Mercury Insurance includes discounts for multi-policy, accident-free, good driver, good student, annual mileage, and location of vehicle.
- 21st Century policyholders can earn discounts including 55 and older, defensive driver, theft prevention, early bird, and anti-lock brakes.
- Allstate has savings for premier discount, defensive driver, safe driver, premier plus, passive restraint, anti-theft, and farm vehicle.
Before you buy a policy, ask every prospective company which discounts you may be entitled to. A few discounts might not apply in every state. If you would like to see a list of insurance companies with significant discounts in Ohio, click here to view.
Are insurance agencies of importance?
A small number of people still prefer to talk to a local agent and that can be a great decision An additional benefit of comparing rate quotes online is you can get cheap rate quotes but also keep your business local. Buying from local agents is definitely important in Springboro.
After filling out this short form, your insurance data is submitted to local insurance agents in Springboro who will give you bids for your insurance coverage. It makes it easy because there is no need to leave your computer due to the fact that quote results will go directly to you. You can find better rates and a licensed agent to work with. If for some reason you want to compare prices for a specific company, feel free to find their quoting web page and give them your coverage information.
Multiple types of car insurance agents in Springboro
If you are wanting to find a reputable insurance agent or broker, you should know the different agency structures and how they can quote your rates. Auto insurance agents in Springboro are considered either exclusive or independent (non-exclusive).
Agents in the independent channel do not write with just one company and that gives them the ability to insure with multiple insurance companies enabling the ability to shop coverage around. To move your coverage to a new company, your policy is moved internally and the insured can keep the same agent. If you need lower rates, you will definitely want to get some free quotes from a couple of independent agencies to have the best price comparison. Many independent agencies also insure through different regional companies that may provide cheaper auto insurance rates.
Exclusive Auto Insurance Agencies
Exclusive agents write business for a single company and some examples include American Family, State Farm, and AAA. Exclusive agencies are unable to provide rate quotes from other companies so if the price isn't competitive there isn't much they can do. Exclusive agencies are usually quite knowledgeable on the products they sell which helps them sell on service rather than price. Drivers often purchase coverage from exclusives primarily because of loyalty to the company rather than low rates.
Finding the right insurance agent shouldn't rely on just the bottom line cost. Any agent in Springboro should have no problem answering these questions:
- Is the agency involved in supporting local community causes?
- Can you choose the body shop in case repairs are needed?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Does the agency have a good rating with the Better Business Bureau?
- Do they receive special compensation for putting your coverage with one company over another?
- If your car is in the repair shop, do you have coverage for a rental car?
- Is vehicle mileage a factor when determining depreciation for repairs?
Your situation helps dictate your coverage
When buying a policy, there really is no "best" method to buy coverage. You are unique.
For instance, these questions might point out whether or not you may require specific advice.
- What is an SR-22 filing?
- Are all vehicle passengers covered by medical payments coverage?
- If I use my vehicle for business use is it covered?
- Do I need PIP (personal injury protection) coverage in Ohio?
- What is GAP insurance?
- What is medical payments coverage?
If you're not sure about those questions, you may need to chat with an agent. To find lower rates from a local agent, simply complete this short form.
Smart shoppers get results
While you're price shopping online, make sure you don't reduce coverage to reduce premium. Too many times, someone sacrificed comprehensive coverage or liability limits only to discover later that it was a big mistake. Your strategy should be to purchase a proper amount of coverage for the lowest cost but still have enough coverage for asset protection.
We just showed you quite a bit of information on how to save on car insurance in Springboro. It's most important to understand that the more times you quote, the higher your chance of finding affordable Springboro auto insurance quotes. You may even discover the biggest savings come from a small local company.
Drivers leave their current company for a variety of reasons including policy non-renewal, denial of a claim, delays in responding to claim requests or lack of trust in their agent. Whatever your reason, switching car insurance companies can be easier than you think.
To learn more, feel free to browse the following helpful articles:
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Who Has Affordable Ohio Auto Insurance for 16 Year Olds? (FAQ)
- What is the Cheapest Auto Insurance in Dayton, Ohio? (FAQ)
- What Car Insurance is Cheapest for Ride Shares in Ohio? (FAQ)
- How Much are Ohio Auto Insurance Rates for a Chevrolet Silverado? (FAQ)
- Who Has Affordable Ohio Auto Insurance for Drivers Over Age 50? (FAQ)
- Shopping for a Safe Car (Insurance Information Institute)
- Self-driving cars won't replace humans (Insurance Institute for Highway Safety)