Has it been a year or more since you last compared quotes for the cheapest insurance rates in Forest Park, OH? Having to pay for pricey insurance in Forest Park can take a big chunk out of your savings account and force you to make tough financial choices. Comparing rates annually is free and is an excellent way to tighten up your finances.
Astonishing but true, the majority of drivers have remained with the same insurance company for at least four years, and just short of a majority have never quoted insurance rates at all. With the average insurance premium being $1,343, Forest Park drivers could save about 55% each year just by getting comparison quotes, but they assume it's a waste of time to compare rates and save money.
Online insurance companies like GEICO, 21st Century and Progressive promote their brand names with TV and radio ads and consumers find it hard to ignore the flashy ads and take the time to shop coverage around.
If you currently have a car insurance policy, you should be able to shop for the lowest rates using the ideas presented in this article. Buying the cheapest car insurance in Forest Park is not that difficult. Nevertheless, Ohio vehicle owners must know how companies calculate your policy premium because it can help you find the best coverage.
When quoting auto insurance, remember that obtaining a wide range of quotes helps increase your odds of locating more affordable insurance.
The auto insurance companies shown below can provide price comparisons in Ohio. If several companies are displayed, we suggest you visit two to three different companies in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LTZ AWD||$850||$425||$71|
|Chevrolet Silverado LT Extended Cab 2WD||$806||$403||$67|
|Dodge Grand Caravan Hero||$680||$340||$57|
|Dodge Ram Crew Cab Sport 2WD||$808||$404||$67|
|Ford Escape XLT 4WD||$530||$265||$44|
|Ford F-150 FX4 4WD||$784||$392||$65|
|Ford Focus SE 4-Dr Sedan||$670||$335||$56|
|GMC Sierra SLE Crew Cab 4WD||$986||$493||$82|
|Honda Accord EX-L 4-Dr Sedan||$702||$351||$59|
|Honda CR-V EX-L 4WD||$600||$300||$50|
|Honda Civic EX 4-Dr Sedan||$622||$311||$52|
|Kia Optima EX||$822||$411||$69|
|Nissan Altima 2.5 S 2-Dr Coupe||$922||$461||$77|
|Toyota Camry XLE||$806||$403||$67|
|Toyota Corolla XLE||$632||$316||$53|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Premium amounts do not factor in specific location information which can decrease or increase prices greatly.
Liability only or full coverage
The illustration below visualizes the comparison of Nissan Altima insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no accidents, no driving violations, $500 deductibles, single female driver, and no discounts are taken into consideration.
Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.
Guidelines for dropping full coverage
There is no clear-cut formula to stop paying for physical damage coverage on your policy, but there is a general convention. If the yearly cost of full coverage is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let's assume your Nissan Altima settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $4,000 after paying the physical damage deductible. If you are currently paying more than $400 a year for full coverage, then it may be the right time to buy liability only.
There are some cases where dropping physical damage coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not remove full coverage.
The information below shows how different deductible levels and can affect Chevrolet Malibu insurance rates for different age groups. The prices are based on a married male driver, full coverage, and no other discounts are factored in.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
Car insurance premiums by gender
The chart below compares annual premium costs for male and female drivers in Findlay. The premiums assume a clean driving record, no claims, full coverage, $1,000 deductibles, drivers are not married, and no additional discounts are factored in on a Ford Fusion Sport.
Ford Fusion rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
It may be expensive, but it's not optional
Despite the high cost, paying for car insurance is not optional due to several reasons.
First, most states have mandatory liability insurance requirements which means the state requires specific limits of liability protection in order to license the vehicle. 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.
Second, if you have a loan on your vehicle, it's guaranteed your bank will make it mandatory that you buy full coverage to ensure loan repayment if the vehicle is totalled. If the policy lapses, the bank may buy a policy for your vehicle for a much higher rate and force you to reimburse them for the expensive policy.
Third, insurance safeguards your vehicle and your assets. It will also pay for medical bills for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, will also pay to defend you if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, your policy will cover the repair costs.
The benefits of having insurance more than cancel out the cost, especially if you ever need it. According to a 2015 survey, the average American driver is wasting up to $830 a year so compare rate quotes once a year at a minimum to help ensure money is not being wasted.
These discounts can slash insurance rates
The cost of insuring your cars can be expensive, but there may be some discounts to help offset the cost. Certain credits will be shown when you complete an application, but some must be requested specifically in order for you to get them.
- Homeowners Savings - Owning a home in Forest Park may earn you a small savings because it requires a higher level of personal finance.
- Save with a New Car - Insuring a vehicle that is new can be considerably cheaper because newer models are generally safer.
- Multiple Cars - Buying insurance for all your vehicles on one policy qualifies for this discount.
- Multiple Policy Discount - If you insure your home and vehicles and place coverage with the same company you may earn up to 20% and get you cheap Forest Park auto insurance.
- Clubs and Organizations - Joining a professional or civic organization could earn you a nice discount on your next renewal.
Don't be surprised that most of the big mark downs will not be given to the overall cost of the policy. Most only cut specific coverage prices like liability, collision or medical payments. Even though it appears you can get free auto insurance, you aren't that lucky. But any discount will bring down your overall premium however.
Companies that may offer policyholders some of the above discounts possibly include:
When comparing rates, check with each insurance company which discounts can lower your rates. Some of the discounts discussed earlier may not apply to policyholders in your state.
Do I need an insurance agency?
A small number of people still like to buy from a local agent and that is not a bad decision One of the best bonuses of comparing car insurance online is the fact that you can find cheaper premium rates but also keep your business local.
To find an agent, once you fill out this simple form, the coverage information is transmitted to insurance agents in Forest Park who will give competitive quotes for your business. It's much easier because you don't need to visit any agencies due to the fact that quote results will go to you directly. You can get cheaper car insurance rates without having to waste a lot of time. If for some reason you want to get a rate quote from one company in particular, you would need to navigate to their website to submit a rate quote request.
Selecting an company should include more criteria than just the bottom line cost. Any agent in Forest Park should be forthright in answering these questions:
- How would your car be valued if totalled?
- If you raise deductibles, how much can you save?
- Can glass claims be handled at your home?
- What company do they have the most business with?
- What discounts might you be missing?
When finding a reliable agent, you should know the different agency structures and how they are slightly different. Agencies in Forest Park can be described as either independent (non-exclusive) or exclusive.
Exclusive Car Insurance Agencies
Exclusive insurance agents generally can only insure with one company and some examples include Farmers Insurance and State Farm. Exclusive agencies are unable to provide prices from multiple companies so if the price isn't competitive there isn't much they can do. They are usually well trained on what they offer and that allows them to sell at a higher price point.
Independent Car Insurance Agencies
These agents are not limited to a single company and that enables them to quote your coverage with an assortment of companies and potentially find a lower price. If they find a lower price, your policy is moved internally and you don't have to find a new agent.
When comparing rates, we recommend you get some free quotes from several independent agencies in order to compare the most rates.
Once you have received answers to your satisfaction to any questions you have and a low price estimate, you have narrowed it down to a car insurance agent that can properly insure your vehicles.
How to know if you need help
When quoting and comparing proper insurance coverage for your personal vehicles, there is no one size fits all plan. Everyone's situation is a little different.
For instance, these questions can help discover whether your personal situation would benefit from professional advice.
- Is my teenager covered with friends in the car?
- Is my covered if I use it for business?
- What is the premium to book value ratio for dropping full coverage?
- Will I lose any money if I cancel my policy before it expires?
- Do I need higher collision deductibles?
- Is my vehicle covered by my employer's policy when using it for work?
If you don't know the answers to these questions but you know they apply to you, you might consider talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form.
Cover all your bases
In this article, we covered a lot of ways to reduce auto insurance premium rates online in Forest Park. The key concept to understand is the more companies you get prices for, the better your chances of lowering your prices. You may even be surprised to find that the best price on auto insurance is with a small local company.
Cheaper auto insurance in Forest Park is attainable online and also from your neighborhood Forest Park agents, so you need to shop Forest Park auto insurance with both in order to have the best price selection to choose from. Some companies do not offer online quoting and most of the time these smaller providers sell through independent insurance agencies.
As you quote Forest Park auto insurance, it's not a good idea to skimp on coverage in order to save money. Too many times, drivers have reduced liability limits or collision coverage and discovered at claim time that the savings was not a smart move. The goal is to buy enough coverage at the best possible price while still protecting your assets.
Additional information can be found at the links below
- Child Safety FAQ (iihs.org)
- How Much are Car Insurance Rates for Business Use in Ohio? (FAQ)
- How Much are Ohio Auto Insurance Rates for Nurses? (FAQ)
- Who Has Cheap Ohio Car Insurance Rates for High School Students? (FAQ)
- What Car Insurance is Cheapest for Drivers with a Bad Driving Record in Ohio? (FAQ)
- How Much is Ohio Car Insurance for Immigrants? (FAQ)
- How Much are Ohio Auto Insurance Quotes for 19 Year Olds? (FAQ)
- Medical Payments Coverage (Liberty Mutual)
- What is Covered by GAP Insurance? (Allstate)
- What is Full Coverage? (Allstate)