Wouldn’t it be great if we could just give you the name of the one auto insurance company that has the lowest rates for low credit scores? It’s not that simple, unfortunately, as there are many unknowns like the area where you live, if you are married or single, the number of miles you drive each year, and whether you are male or female, that all impact the cost of coverage. This article will detail the causes of high insurance rates and educate you enough to have a good start in finding the cheapest insurance in Ohio.
One of the more important criteria that are used to help calculate the price you pay for insurance is where your car is garaged in Cleveland. Cities with more crime and/or more people tend to pay more, whereas more rural areas benefit from lower coverage costs.
The table below shows the most expensive cities in Ohio for low credit scores to buy car insurance in. Cleveland ranks #4 having an annual price of $1,222 for the average insured, which is approximately $102 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Toledo | $1,279 |
| 2 | Columbus | $1,247 |
| 3 | Youngstown | $1,235 |
| 4 | Cleveland | $1,222 |
| 5 | Cleveland Heights | $1,202 |
| 6 | Cincinnati | $1,186 |
| 7 | Euclid | $1,164 |
| 8 | Hamilton | $1,146 |
| 9 | Akron | $1,123 |
| 10 | Dayton | $1,108 |
| 11 | Newark | $1,095 |
| 12 | Springfield | $1,094 |
| 13 | Canton | $1,069 |
| 14 | Fairfield | $1,063 |
| 15 | Middletown | $1,055 |
| 16 | Beavercreek | $1,047 |
| 17 | Strongsville | $1,041 |
| 18 | Kettering | $1,040 |
| 19 | Mansfield | $1,032 |
| 20 | Lakewood | $1,031 |
| 21 | Parma | $1,027 |
| 22 | Mentor | $1,018 |
| 23 | Lorain | $1,015 |
| 24 | Cuyahoga Falls | $1,007 |
| 25 | Elyria | $995 |
| Find Cheaper Rates Go | ||
Table data uses comparative as specific Cleveland garaging address can affect coverage prices significantly.
Deciding which company quotes the cheapest insurance rates for low credit scores will involve a little more effort in order to find the most economical policy.
Each auto insurer has a proprietary formula for setting rates, so let’s take a look at the most affordable insurance companies in Cleveland. It’s important that readers know that Ohio insurance rates are calculated based on many things which can significantly increase or decrease the policy premium. Simply getting older, getting divorced, or having a fender bender can trigger changes in premium resulting in some companies being cheaper than others.
Lowest Insurance Price Quotes in Ohio
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $628 |
| 2 | Erie | $661 |
| 3 | Allied | $669 |
| 4 | Frankenmuth | $687 |
| 5 | USAA | $711 |
| 6 | Travelers | $733 |
| 7 | Merchants Insurance Group | $771 |
| 8 | Cincinnati Insurance | $779 |
| 9 | Motorists Mutual | $816 |
| 10 | Grange Mutual | $828 |
| 11 | General Casualty | $837 |
| 12 | Central Mutual | $848 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $884 |
| 15 | Atlantic States | $931 |
| 16 | Westfield | $946 |
| 17 | Progressive | $953 |
| 18 | Auto-Owners | $968 |
| 19 | Western Reserve | $970 |
| 20 | Nationwide | $988 |
| Get Personalized Rates Go | ||
Utica National quotes some of the most affordable car insurance rates in Cleveland at around $628 annually. Erie, Allied, Frankenmuth, and USAA would also make the list of some of the more affordable Cleveland, OH car insurance companies.
As the rates illustrate above, if you currently buy coverage from Frankenmuth and switched to Erie, you may see an annual premium reduction of roughly $26. Insureds with USAA may save as much as $50 a year, and Travelers policyholders might lower prices by $72 a year.
If you would like to find cheaper car insurance rates, click here to start your custom quote or click through to the companies below.
Bear in mind that those policy prices are averaged across all drivers and vehicles and do not take into consideration a specific location for low credit scores. So the auto insurance company that can offer you the best rate may not even be in the list above. That helps illustrate why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
The type of vehicle needing coverage is one of the primary factors in finding the best car insurance for low credit scores. Vehicles with higher performance characteristics, a lack of modern safety features, or a high likelihood of having liability claims will cost significantly more to insure than more economical and safe models.
The table below illustrates insurance costs for a handful of the most budget-friendly automobiles to insure in Ohio.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $1,480 |
| Ford Edge SEL AWD | $1,500 |
| Toyota RAV4 2WD | $1,531 |
| Chevrolet Equinox LT AWD | $1,536 |
| Ford Fusion S 4-Dr Sedan | $1,531 |
| Volkswagen Jetta S 4-Dr Sedan | $1,538 |
| Dodge Grand Caravan SXT | $1,560 |
| Ford Focus SES 4-Dr Sedan | $1,581 |
| Ford Escape XLS 2WD | $1,591 |
| Honda CR-V EX-L 2WD | $1,627 |
| Chevrolet Malibu LTZ | $1,640 |
| Toyota Prius | $1,648 |
| Nissan Rogue S AWD | $1,643 |
| Ford F-350 XL Crew Cab Cabela Package 2WD | $1,668 |
| Ford F-150 STX Super Cab 4WD | $1,699 |
| Get a Custom Quote Go | |
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in vehicle garaging location which can increase or decrease rates considerably.
By looking at the data, we can tell that models like the Honda Accord, Ford Edge, Toyota RAV4, Chevrolet Equinox, and Ford Fusion are most likely going to be the less-costly vehicles to insure for bad credit.
The information below illustrates how your deductible choice can raise or lower insurance costs when getting quotes for cheap insurance for low credit scores. The premiums assume a married female driver, comp and collision included, and no discounts are taken into consideration.
A 50-year-old driver could cut expenses by $156 a year by changing from a $100 deductible to a $500 deductible, or save $234 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, could potentially save as much as $384 or even more just by using higher deductibles.
When using a larger deductible, it is necessary to have enough in a savings account to allow you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Types of discounts on Cleveland auto insurance
Auto insurance companies that offer coverage for low credit scores may have policy discounts that could reduce prices by as much as 30% if you meet specific criteria. Larger insurance companies and their possible discounts are shown below.
- State Farm includes discounts for defensive driving training, driver’s education, good student, accident-free, Steer Clear safe driver discount, safe vehicle, and anti-theft.
- Progressive discounts include continuous coverage, multi-vehicle, multi-policy, online signing, and online quote discount.
- Travelers may offer discounts for multi-car, multi-policy, save driver, driver training, early quote, and good student.
- American Family has discounts for early bird, TimeAway discount, mySafetyValet, air bags, and good driver.
- Liberty Mutual may include discounts for good student, newly retired, preferred payment discount, newly married, exclusive group savings, new vehicle discount, and new graduate.
The example below shows the difference between insurance rates with and without discounts being applied to the rates. The costs are based on a female driver, no accidents, no driving violations, Ohio state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with claim-free, passive restraint, anti-theft, vehicle safety, safe-driver, and marriage discounts applied. When these discounts are applied, the average amount saved each year on insurance for low credit scores is 27% or $343.
Don’t make the mistake of not shopping around
Cleveland, OH insurance rates are impacted by many factors which can significantly increase or decrease the price you pay for coverage. Improving your credit rating, becoming a homeowner, or getting a reckless driving citation may generate price changes that can now make some companies much cheaper than others. And not only may your rating factors change, but insurance companies amend pricing as often as every quarter to adjust for unexpected claims or profits. An unexpected high level of claims may result in price increases, while a lower level of claims may produce cheaper Cleveland car insurance rates.
To help illustrate this point, the data below demonstrates which company has the cheapest car insurance in Cleveland, OH for a 45-year-old female driver with a good driving record, no prior claims, and a good credit history. If we compare prices based on her current rating profile, Utica National may offer the cheapest car insurance rates in Cleveland at $811 each year. This is $229 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also make the list of the cheapest Cleveland, OH auto insurance companies.
Now let’s give the driver from the first example a claim, a lower credit score, and a traffic citation. Because every insurance company uses their own formula for determining prices, comparing insurance quotes may now show a slightly different list of the cheapest companies as shown below.
Cincinnati Insurance now has the lowest price on auto insurance in Cleveland with Merchants Insurance Group, Motorists Mutual, Grange Mutual, and General Casualty now rounding out the top five. This illustrates why it is important to compare many different companies when trying to find the most budget-friendly auto insurance quotes for low credit scores.
Insurance prices are influenced by many different factors and can increase or decrease at any time, so the most economical company the last time you compared rates may now be quite expensive.
The insurance agencies listed below can help you decide which car insurance company is the best fit, since some people prefer to get some professional input when comparing insurance rates for low credit scores. It’s not always easy to find the best policy yourself, so getting advice from a licensed Ohio insurance agent can give satisfaction knowing your policy gives you adequate protection in case of an accident or claim. To find a Cleveland insurance agency using an interactive map, click the button at the bottom of the list or click here to compare price quotes.
Nationwide Insurance: James F Greer Jr
16700 Chagrin Blvd – Cleveland, OH 44120 – (216) 752-7100
Insurance Consultants Agency
23980 Chagrin Blvd – Cleveland, OH 44122 – (216) 766-6300
Hubbard Insurance Agency
22255 Center Ridge Rd #202 – Rocky River, OH 44116 – (440) 333-4450
Select Insurance Services Agency, Inc.
12608 State Rd – Cleveland, OH 44133 – (440) 237-8555
More insurance agents in Cleveland, OH
How to find low-cost car insurance for low credit scores
It’s not impossible to find cheaper rates, and here are some of the recommended penny-pinching ideas that can help Cleveland drivers find cheaper car insurance.
- Increase physical damage deductibles
- Good credit scores may lower your rates
- Just one traffic violation will increase your rates
- Being accident-free can lower rates significantly
- Buy safe vehicles
- Older vehicles may not need full coverage
- Compare prices as often as possible
That last tip is certainly vital, as was stressed in this article. Prices can change considerably in a year, so don’t be hesitant to change to a new company if a cheaper price is available. Many drivers prefer to stick with one company, but it isn’t a good idea if that stubbornness costs you hundreds every year. In just a few minutes you could compare rates and find cheaper insurance for low credit scores in Cleveland.