Being forced to pay for overpriced insurance premiums can consume your personal savings and put the squeeze on your family's finances. Shopping your coverage around is free and is an excellent way to make sure you're not throwing money away.

It's astonishing, but the vast majority of consumers in Ohio kept buying from the same company for over three years, and practically 40% of insurance customers have never compared rates from other carriers. Consumers in the United States could pocket $850 a year, but they feel it's too difficult to shop around.

Many insurers compete for your insurance dollar, so it's not easy to compare every provider to find the lowest price on insurance.

Consumers need to compare premium rates on a regular basis because insurance prices are adjusted regularly by insurance companies. Just because you found the lowest rates on insurance last year there is a good chance you can find better premium rates now. Forget anything you know (or think you know) about insurance because you're about to learn one of the quickest ways to lower your rates without sacrificing coverage.

If you have auto insurance now, you will surely be able to reduce the price you pay using the ideas presented in this article. Locating the most cost-effective auto insurance policy in Lancaster can be made easier if you know where to look. But Ohio vehicle owners should learn how big insurance companies determine premium rates and use this information to your advantage.

To find the best auto insurance rates, there are several ways to compare quotes from many different Ohio insurance companies. The easiest way to find competitive insurance rates is to jump online and get quotes.

Comparing price quotes online is fast and free, and it makes it obsolete to drive around to insurance agents' offices. The fact that you can get quotes online has reduced the need for local agents unless you're the type of person who wants the advice and guidance of a licensed agent. Some companies do allow you to obtain prices from the web and have a local Lancaster agent actually service the policy. Just remember that comparing more prices helps locate more affordable insurance. Some insurance companies are not set up to provide online rate quotes, so you also need to get prices from the smaller companies as well.

The following companies have been selected to offer price comparisons in Lancaster, OH. If the list has multiple companies, we suggest you visit two to three different companies to get the best price comparison.

Insurance Price Estimates for Popular Vehicles in Lancaster
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Colorado LT 4WD $656 $328 $55
Chevrolet Silverado LS Extended Cab 4WD $750 $375 $63
Dodge Grand Caravan Crew $706 $353 $59
Dodge Ram Quad Cab Sport 2WD $1,060 $530 $88
Ford Escape Limited 4WD $726 $363 $61
Ford F-150 Lariat Crew Cab Harley 4WD $656 $328 $55
Ford Focus SE 2-Dr Coupe $766 $383 $64
GMC Sierra SLE Extended Cab 4WD $822 $411 $69
Honda Accord EX-L 4-Dr Sedan $654 $327 $55
Honda CR-V LX 2WD $528 $264 $44
Honda Civic Hybrid 4-Dr Sedan $966 $483 $81
Jeep Grand Cherokee Limited 2WD $860 $430 $72
Mazda 3 S Grand Touring 4-Dr Sedan $852 $426 $71
Nissan Altima Hybrid 4-Dr Sedan $876 $438 $73
Toyota Camry SE $746 $373 $62
Toyota Corolla S $754 $377 $63
Toyota Prius $748 $374 $62
Toyota RAV4 Sport 2WD $776 $388 $65
Toyota Tacoma Double Cab TRD Sport Package 4WD $684 $342 $57
Volkswagen Jetta SE 4-Dr Sedan $722 $361 $60
Get Your Own Custom Quote Go

Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Table data does not factor in specific location which can modify price quotes greatly.

Careless drivers pay higher rates

The illustration below demonstrates how traffic citations and at-fault collisions can raise Nissan Sentra insurance premiums for different ages of insureds. The prices are based on a single male driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.

Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.

Full coverage versus liability only rates

The illustration below visualizes the comparison of Hyundai Sonata insurance prices when comparing full coverage to state minimum liability only. The rates are based on a clean driving record, no at-fault accidents, $500 deductibles, single male driver, and no discounts are taken into consideration.

Hyundai Sonata rates are for example purposes only. To get rates for your specific vehicle, click here.

Should you pay for full coverage?

There is no exact formula to exclude full coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let's pretend your Hyundai Sonata replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after the deductible is paid. If premium cost is more than $400 annually for physical damage coverage, then you might want to consider buying only liability coverage.

There are some situations where dropping full coverage is not advised. If you haven't satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle in case of an accident, you should not opt for liability only.

Policy deductibles

The chart below shows how choosing a deductible and can increase or decrease Toyota Camry insurance premiums for different age categories. The information is based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.

Toyota Camry rates are for example purposes only. To get rates for your specific vehicle, click here.