Having to pay for expensive auto insurance in Berea can draw down your budget and require stricter spending habits. Getting a rate comparison can be a smart way to ensure you are getting the best deal.
Statistics show that 70% of consumers kept their coverage with the same auto insurance company for well over three years, and approximately 40% of consumers have never shopped around. Ohio insurance shoppers can cut their rates by $730 a year by just comparing rate quotes, but most undervalue how much money they would save if they switched to a more affordable policy.
You have multiple auto insurance companies to insure vehicles with, and though it is a good thing to have a selection, having more insurance companies makes it harder to compare rates and find the lowest cost auto insurance.
This article's goal is to instruct you on how auto insurance companies operate and some tricks to saving. If you are paying for car insurance now, you will most likely be able to reduce premiums using the concepts you're about to learn. Although Ohio consumers do need to know how big insurance companies determine what you pay because it varies considerably.
To find low cost Berea car insurance quotes, there are several ways to compare prices from all the different companies. By far the easiest way to comparison shop involves getting comparison quotes online.
Doing price comparisons online is so simple that it makes it a waste of time to drive to local Berea insurance agencies. The ability to buy insurance online eliminates the need for an insurance agent unless you have a complicated situation and need the trained advice of an agent trained in personal lines coverage. Although, it is possible get prices online but still have the advice of a local Berea agent.
When comparison shopping, more quotes helps locate the best price. Some insurance companies are not set up to provide rate quotes online, so it's necessary to compare rates from those companies as well.
The companies shown below are our best choices to provide quotes in Berea, OH. If several companies are displayed, we recommend you get rate quotes from several of them in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Extended Cab 4WD||$504||$252||$42|
|Chevrolet Silverado LS Extended Cab 4WD||$692||$346||$58|
|Dodge Ram Quad Cab Laramie 2WD||$796||$398||$66|
|Ford Escape Limited 4WD||$652||$326||$54|
|Ford F-150 XLT Regular Cab 4WD||$702||$351||$59|
|Ford Focus SE 2-Dr Coupe||$1,016||$508||$85|
|Honda Accord EX 2-Dr Coupe||$674||$337||$56|
|Honda CR-V EX-L 4WD||$456||$228||$38|
|Honda Civic LX-S 4-Dr Sedan||$1,014||$507||$85|
|Honda Odyssey EX||$588||$294||$49|
|Hyundai Sonata SE 4-Dr Sedan||$1,016||$508||$85|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$758||$379||$63|
|Kia Optima EX||$698||$349||$58|
|Nissan Altima 2.5 4-Dr Sedan||$714||$357||$60|
|Toyota Camry SE||$944||$472||$79|
|Toyota Corolla S||$706||$353||$59|
|Toyota RAV4 2WD||$634||$317||$53|
|Volkswagen Jetta SE 4-Dr Sedan||$776||$388||$65|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Premium costs do not factor in specific location information which can influence auto insurance rates substantially.
Careless drivers pay higher rates
The chart below highlights how speeding tickets and at-fault fender-benders drive up Toyota Camry insurance prices for each different age group. The information is based on a single male driver, full coverage, $250 deductibles, 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.
Where to set your deductibles
The chart below highlights how deductible choice and can affect Hyundai Elantra yearly insurance costs for each age group. The rate quotes are based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.
Hyundai Elantra rates are for example purposes only. To get rates for your specific vehicle, click here.
Liability-only versus full coverage
The example below shows the comparison of Ford Escape insurance premiums with and without full coverage. The rates are based on no claims or driving citations, $500 deductibles, married male driver, and no discounts are applied to the premium.
Ford Escape rates are for example purposes only. To get rates for your specific vehicle, click here.
When to drop comprehensive and collision coverage
There isn't a written rule to exclude physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let's pretend your Ford Escape book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $2,000 after paying your deductible. If you are paying in excess of $200 a year for comprehensive and collision coverage, then you might consider buying liability only.
There are some circumstances where dropping full coverage is not a good idea. If you haven't satisfied your loan, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.
These discounts can lower insurance rates
Insuring your vehicles can cost a lot, but you may qualify for discounts that many consumers don't even know exist. Some discounts will apply at the time of purchase, but occasionally some discounts must be specially asked for before they will apply.
- Air Bag Discount - Vehicles equipped with air bags or automatic seat belts may earn rate discounts of 20% or more.
- Anti-theft System - Cars, trucks, and SUVs optioned with advanced anti-theft systems are stolen with less frequency and qualify for as much as a 10% discount.
- Good Students Pay Less - This discount may save as much as 25% on a Berea car insurance quote. Most companies allow this discount up until you turn 25.
- College Student Discount - College-age children who are enrolled in a college that is more than 100 miles from Berea and won't have access to an insured vehicle may be able to be covered for less.
- Paperless Signup - Many insurance companies provide a small discount get Berea car insurance on the internet.
- Onboard Data Collection - Policyholders that allow driving data submission to study when and where they use their vehicle by using a small device installed in their vehicle such as Progressive's Snapshot and State Farm's In-Drive could see a rate decrease if they have good driving habits.
- Cautious Driver Discount - Drivers without accidents can save up to 40% or more on their Berea car insurance quote as compared to drivers with claims.
- Senior Citizens - Seniors may be able to get lower premium rates.
- Seat Belts Save - Using a seat belt and requiring all passengers to use their safety belts could save 15% on the premium charged for medical payments and/or PIP.
Don't be shocked that some of the credits will not apply to the entire cost. Most only apply to individual premiums such as collision or personal injury protection. So even though you would think you could get a free insurance policy, it's just not the way it works.
Larger insurance companies and some of their more popular discounts can be read below.
- GEICO has discounts for defensive driver, anti-lock brakes, military active duty, air bags, and driver training.
- MetLife policyholders can earn discounts including good student, good driver, accident-free, multi-policy, claim-free, defensive driver
- Progressive may include discounts for multi-vehicle, good student, continuous coverage, multi-policy, and online signing.
- Travelers offers discounts including IntelliDrive, continuous insurance, home ownership, multi-car, hybrid/electric vehicle, and good student.
- SAFECO may have discounts that include bundle discounts, multi-car, anti-lock brakes, teen safety rewards, and drive less.
- AAA offers premium reductions for pay-in-full, AAA membership discount, education and occupation, good student, good driver, and multi-policy.
Before purchasing a policy, check with each company or agent to give you their best rates. A few discounts might not be available to policyholders in your area. To see insurance companies that can offer you the previously mentioned discounts in Berea, follow this link.
When do I need an agent's advice?
When it comes to the right insurance coverage for your personal vehicles, there isn't really a one size fits all plan. Every situation is different.
For example, these questions could help you determine if your situation could use an agent's help.
- Who is covered by my policy?
- Do I need replacement cost coverage?
- What does roadside assistance cover?
- How can I get my company to pay me more for my totalled car?
- Is there coverage for injuries to my pets?
- When would I need additional glass coverage?
- Do I need medical payments coverage since I have good health insurance?
If it's difficult to answer those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form.
How your Berea premiums are determined
Part of the car insurance buying process is learning the rating factors that go into determining the price you pay for car insurance. If you understand what determines premiums, this helps enable you to make changes that can earn you big savings. Lots of factors are part of the equation when you quote your car insurance policy. A few of the factors are predictable such as your driving history, although others are less apparent such as whether you are married or how financially stable you are.
- More traffic equals higher rates - Having an address in less populated areas of the country has it's advantages when insuring your vehicles. Lower population translates into fewer accidents in addition to fewer liability claims. City drivers have to deal with more aggressive driving styles and more severe claims. More time behind the wheel statistically corresponds to a higher accident and claim rate.
- Do you need those incidental coverages? - There are quite a few additional coverages that sound like a good idea at the time if you don't pay attention. Coverage for things like coverage for rental cars, accident forgiveness, and extra equipment coverage may be costing you every month. These may sound like a good investment when talking to your agent, but if they're wasting money eliminate them to save money.
- Save by driving less - The higher the mileage driven annually the higher your rate. A lot of insurance companies charge rates based upon how the vehicle is primarily used. Cars that have low annual miles receive lower rates than those used for commuting. Make sure your declarations sheet is showing the proper vehicle usage, because improper ratings can cost you money.
- Get better rates if married - Having a spouse can actually save you money on your car insurance bill. Marriage demonstrates that you tend to be more stable financially and it's statistically proven that married drivers get in fewer accidents.
- Consolidate and save - Most larger insurers give lower prices to policyholders that have more than one policy. It's known as a multi-policy discount. Discounts can add up to 10 percent or more. Even if you're getting this discount it's always a smart idea to comparison shop to verify if the discount is saving money.
It may be expensive, but it's not optional
Despite the potentially high cost of car insurance, car insurance is required in Ohio but also provides important benefits.
First, most states have minimum liability requirements which means state laws require specific limits of liability coverage 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.
Second, if your vehicle has a lienholder, almost all lenders will require that you have physical damage coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank may insure your vehicle for a much higher rate and make you pay for the much more expensive policy.
Third, insurance protects your vehicle and your assets. Insurance will also pay for many types of medical costs for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if you are sued as the result of your driving. If your vehicle gets damaged, your car insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of having car insurance greatly outweigh the cost, particularly when you have a large claim. According to a 2015 survey, the average American driver is overpaying more than $820 a year so compare rate quotes at every policy renewal to save money.
More quotes mean more insurance savings
Cheaper insurance in Berea is possible online and with local Berea insurance agents, and you need to price shop both so you have a total pricing picture. There are still a few companies who may not have the ability to get quotes online and these regional carriers provide coverage only through independent insurance agencies.
When buying insurance coverage, it's very important that you do not reduce needed coverages to save money. In many cases, consumers will sacrifice full coverage only to regret at claim time that the small savings ended up costing them much more. Your goal is to buy a smart amount of coverage at the best price, but do not sacrifice coverage to save money.
We just showed you quite a bit of information on how to find cheaper coverage online. It's most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. You may even find the best price on insurance is with a small local company.
More tips and info about insurance is located by following these links:
- Winter Driving (Insurance Information Institute)
- How Much are Car Insurance Quotes for a 20 Year Old Female in Ohio? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers with Good Credit in Ohio? (FAQ)
- Teen Driving Statistics (GEICO)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)