Ohio auto insurance premiums are very competitely priced compared to other states. Of the 50 states, Ohio ranks in the bottom 10, rate wise, meaning there are 40 states where you pay higher auto premiums. There are many factors that determine what rates you’ll pay and this will explain Ohio car insurance rates.
Ohio auto insurance premiums are generally stable from year to year, but certain things can happen, that change the premium. Most Ohio auto insurance companies do not run new motor vehicle reports (MVR) every year, or every renewal period. There are a few exceptions to this, and all companies are more likely to check your MVR if you’ve had an at-fault accident during the policy period. An at-fault accident usually results in an increase in premium, unless you have a feature known as “first accident forgiveness” on your policy. A typical increase could be 30% for the vehicle involved. Tickets, in addition to the accident, could mean a higher premium as well. If the insurance company feels like they won’t make money moving forward, they can non-renew your policy.
Adding a teenage driver to your policy will definately result in an increase. Tips for getting premiums as low as possible can be found here. Moving to a more urban area, from a suburb or rural area, will trigger a premium increase. Changing vehicles during your policy period will result in a premium change, higher or lower depending on the cost of the vehicle, and other factors. Unlike Ohio homeowners insurance premiums that are rising dramatically, Ohio auto insurance premiums are not! Cars are being made with more safety features and people are driving less. This has led to less claims being paid, with the savings being passed on to consumers. Ohio auto insurance is competitive, so shop around for the best deal, while considering your coverage needs!