Ohio drivers enjoy the lowest auto insurance rates in the country, with only Maine coming in lower on average. That does not mean there isn’t room to shop around, however. Ohio drivers can still benefit from comparing companies to get the best value on their car insurance.
The best companies in Ohio offer not only inexpensive rates but back those rates with solid policies and a good reputation.
The Basics of Auto Insurance in Ohio
Ohio’s mandatory insurance law requires all drivers to carry a basic amount of coverage to provide financial responsibility in the event that they are involved in an accident. The current state law requires at least $25,000 in bodily injury coverage per person and $50,000 per incident. $25,000 in property damage coverage is also required.
Unlike other states, Ohio does not have any additional required coverage, and it’s up to the driver to decide what coverage they would like to carry. The exception to this is vehicles that are financed; in this case, the lender requires that the owner of the vehicle carry both comprehensive coverage and collision coverage. Some lenders also have rules that put limits on the amount of the deductible on the policy – it is up to the individual to make sure they are aware of and meet the lender’s requirements.
Ohio drivers have access to a large number of car insurance companies, and this competition helps keep rates at the very bottom of the list when compared to the national average.
Specifics of Ohio Auto Insurance
Ohio drivers have access to all of the biggest insurance companies in the country as well as several homegrown insurers. That provides drivers the choice between major, national companies and those that are smaller, local, and cater to the state’s needs.
While there is not a lot of difference in terms of coverage between the two types of companies, drivers may find some differences in the service. Having a lot of rural areas, Ohio sometimes has different needs from that of very metropolitan areas. There are a few companies out there that understand the difference between rural and city life, and this may apply to a lot of Ohio drivers.
As always, our top picks are not focused just on the lowest rates, but on the best value. That means we looked not only for companies that can give you a good deal on car insurance but also those that have a solid policy and a good company standing behind that low rate. This applies very much to Ohio drivers, where rates are lower on the whole but not all companies are created equal.
We looked for both the biggest as well as more region-based insurance companies in order to provide options for those who prefer the big name as well as those who prefer local service. Market share does not tell the whole story; we also considered the size of the company when looking at how many Ohio drivers chose them.
Each of our picks has a good reputation for handling claims and taking care of customers – a must for making our list. Each of these picks also provides coverage across the state.
Our Top Picks
These three companies provide great value and great service to Ohio drivers across the board, with selections that are both local and national in scope.
Ranking at third overall in J.D. Power’s 2017 national auto claim satisfaction survey, Erie is one of the few regional companies to rank so highly. They also took a 5-star rating for overall satisfaction in the ratings by region; Erie is definitely doing something right.
Erie also ranks consistently among the more affordable auto insurance companies in Ohio, and it is even priced well for those who do not have a perfect driving record and for younger drivers. With an auto policy that includes a lot of extra benefits as standard, that all adds up to a great value for Ohio drivers.
Ohio was only the second state to be served by Auto-Owners, which gives them a very long history in the state and a solid background. They took J.D. Power’s top-ranked spot for overall auto insurance satisfaction in the 2017 North Central region study, and also rank well for claims satisfaction.
With a great auto program and reasonable rates, Auto-Owners is lesser known but very popular in the states they serve, creating an excellent reputation to back their solid product lineup.
The biggest car insurance company in the nation is also the top pick of Ohio drivers. State Farm insures more Ohio drivers than anyone else – almost 20% of the market – and they do it with a great auto program and solid reputation. It may also come as a surprise to many that State Farm consistently ranks below average for their rates when compared to other companies, even direct buy insurance companies.
For those who want a big name with a very solid financial backing, and also prefer to work with a captive agent that really knows their products, State Farm is the place to be.
Shopping for Auto Insurance in Ohio
Ohio drivers have a long list of insurance companies to choose from, and the selections range from the biggest names in the country to smaller, local companies. Having a lot of choices can be great, but it can also be overwhelming; thanks to internet quoting, though, most drivers can get a wide range of comparison quotes quickly and easily.
In a state where some of the great insurance companies, like Auto-Owners, do not have online quoting, reaching out to an independent agent can be well worth the effort. An agent can help you to compare rates from different companies and since they are independent they will be able to give you honest information about each.
While Ohio does not have the lowest state minimums for liability insurance, those limits are not going to be adequate in the event of even a moderately serious accident. Most drivers should carry higher liability limits; make sure that when you are getting quotes from various companies that they quote you the coverage you really need and not just the coverage that results in the cheapest premiums.
The Bottom Line
Ohio drivers have a lot of great choices when it comes to car insurance. Thanks for low rates and lots of companies, it is possible for any driver to get the policy they really need at a rate they can afford. Taking the time to shop around and compare is the key to getting great value in an Ohio insurance policy.
For a list of companies that we recommend, visit our Best Insurance Companies page.