Best Car Insurance in Ohio

Ohio, with 8.2 million licensed drivers in 2021, has emerged as a competitive market for car insurance, providing a plethora of options for consumers. In order to assist Ohio drivers in selecting the best car insurance coverage, our team at MarketWatch Guides conducted a thorough evaluation of leading auto insurance companies in the state. These companies were evaluated based on five key categories:

Industry standing
Availability
Coverage
Cost and discounts
Customer experience.

Additionally, we assessed each company’s financial strength rating and scrutinized customer feedback on platforms such as the Better Business Bureau (BBB) and Trustpilot to gain insights into policyholders’ preferences and concerns regarding top insurers.

Based on our extensive research, we are pleased to recommend State Farm as the top insurance company for Ohio drivers. Alongside State Farm, other insurers like Erie, Nationwide, Geico, and Auto-Owners Insurance have also received high marks in the Buckeye State. These companies have demonstrated strong industry standing, wide availability, comprehensive coverage options, competitive pricing, and positive customer experiences, making them reliable choices for Ohio drivers seeking quality car insurance coverage.

Ohio Auto Insurance can be compared to other insurance options available in the market

In order to evaluate Ohio auto insurance options, we thoroughly assessed various factors including industry reputation, availability, coverage, costs, discounts, and customer satisfaction. Through this comprehensive analysis, we assigned a score and ranking to each insurance provider.

State Farm emerges as the top choice, being the most highly recommended auto insurer in Ohio. It excels in all five categories, earning exceptional ratings. However, it is important to note that these ratings encompass the company’s performance nationwide. Consequently, Erie ties with State Farm in terms of overall performance but secures the second position specifically for Ohio.

Nationwide and Geico secure the third and fourth positions respectively. Geico outperforms all five providers in terms of availability. Auto-Owners Insurance completes the list, receiving commendable scores for industry reputation and coverage.

Based on our research and scoring across various factors, including industry standing, availability, coverage options, cost and discounts, and customer experience, here are the top car insurance companies in Ohio:

1. State Farm: With an overall score of 9.4, State Farm excels in industry standing, availability, coverage, cost and discounts, and customer experience.

2. Erie Insurance: Also scoring 9.4, Erie Insurance stands out for its comprehensive coverage options and competitive pricing.

3. Nationwide: With a score of 9.1, Nationwide offers strong industry standing, wide availability, and attractive cost and discounts.

4. Geico: Scoring 9.1, Geico is praised for its industry standing, wide availability, and competitive pricing.

5. Auto-Owners Insurance: With a score of 8.9, Auto-Owners Insurance impresses with its coverage options and customer experience.

These top-rated insurance companies in Ohio provide reliable coverage and excellent service, making them solid choices for Ohio drivers seeking the best car insurance options.

Customer Experience

Customer experience plays a crucial role in evaluating the top car insurance companies, yet it can be difficult to gauge due to the differing experiences of individual customers. While one policyholder might praise the quick processing of their claim, another might complain about delays.

In order to assess companies based on customer experience, we meticulously reviewed numerous reviews and comments, taking into account each company’s industry reputation (including BBB ratings) to understand the overall customer satisfaction over time. BBB rates companies from A+ to F depending on the likelihood of their representatives engaging with customers and handling customer complaints.

Best Car Insurance Companies in Ohio

The MarketWatch Guides team has acknowledged State Farm as the finest car insurance provider in Ohio, as well as the second-best car insurance carrier in the entire nation for the year 2024. This recognition is based on their consistently high ratings and the positive sentiment expressed by their customers. It is important to note that all J.D. Power ratings, which are derived from the J.D. Power 2023 U.S. Insurance Shopping Study℠, focus on overall customer satisfaction. Additionally, we have selected Erie Insurance, Nationwide, Geico, and Auto-Owners Insurance as the leading car insurance companies in Ohio. To find out more about why these companies were chosen, please continue reading below.

1. State Farm: Best Customer Experience

The J.D. Power rating stands at an impressive 877 out of 1,000, reflecting the high level of customer satisfaction. Additionally, the AM Best financial strength rating is A++, indicating a strong financial position. However, the BBB rating is comparatively lower at C-, suggesting some concerns in terms of business practices.

Advantages
– A++ financial strength rating by AM Best
– Attractive discounts available for students and teenagers
– Discount for usage-based insurance
– Numerous local insurance agents throughout the United States

Disadvantages
– Customer reviews are mixed
– C- rating from the BBB

State Farm Car Insurance Coverage

State Farm car insurance in Ohio provides a range of essential coverages:

Liability coverages encompassing bodily injury and property damage.
Collision coverage.
Comprehensive coverage.
Coverage for uninsured/underinsured motorists (UM/UIM).
Personal injury protection (PIP) insurance.
Medical payments (MedPay) coverage.

State Farm provides several optional coverages in addition to standard ones, they include:

Emergency road service coverage: Offers assistance in case of breakdowns, flat tires, or other roadside emergencies.
Rental car reimbursement: Covers the cost of renting a vehicle while yours is being repaired due to a covered claim.
Travel expenses coverage: Reimburses expenses such as lodging, meals, and transportation if you’re stranded due to a covered accident away from home.
Rideshare driver coverage: Extends coverage for drivers who use their vehicles for ridesharing services like Uber or Lyft, filling potential gaps in coverage provided by the ridesharing company’s insurance.

Reputation of State Farm Insurance Company

State Farm, established in 1922, has had more than a century to refine its business model. Presently, it stands as the leading auto insurance provider in the United States, holding 16.8% of the market share, as reported by the National Association of Insurance Commissioners (NAIC).

Moreover, State Farm is recognized as the top performer among major insurers in the J.D. Power Insurance Shopping Study, underscoring its commitment to overall customer satisfaction. The company also boasts an A++ rating from AM Best, signifying its exceptional financial stability and capacity to settle claims.

While State Farm typically garners an A+ rating from the BBB, its current rating is a C-. This is likely due to the company’s failure to address customer grievances on the platform. Despite the numerous complaints lodged against State Farm, it generated $46.6 billion in premiums in 2023, indicating that these dissatisfactions represent a minute fraction of the company’s policyholders, and may not all pertain to car insurance, in any case.

2. Erie Insurance: Best for Basic Insurance Coverage

J.D. Power score: 878 out of 1,000: The J.D. Power score for this company is an impressive 878 out of 1,000. This score indicates that the company has received high levels of customer satisfaction and is performing well in terms of customer service, product quality, and overall customer experience. A score of 878 reflects the company’s commitment to providing excellent service and meeting the needs of its customers.
AM Best financial strength rating: A+: The AM Best financial strength rating for this company is A+. This rating is a testament to the company’s strong financial stability and ability to meet its financial obligations. An A+ rating indicates that the company has a solid financial foundation and is well-positioned to handle any potential financial challenges. This rating provides reassurance to customers and stakeholders that the company is financially secure and capable of fulfilling its commitments.
BBB rating: A+: The Better Business Bureau (BBB) rating for this company is A+. This rating signifies that the company has a strong track record of ethical business practices and a commitment to resolving customer complaints in a timely and satisfactory manner. An A+ rating from the BBB is the highest possible rating and reflects the company’s dedication to maintaining high standards of customer service and integrity. This rating provides customers with confidence and trust in the company’s business practices.

Advantages:

High industry ratings
Extensive range of additional coverage options
Numerous opportunities for discounts

Disadvantages:

Lack of usage-based insurance offering

Erie Insurance Coverage

Erie provides a comprehensive range of car insurance coverages, along with an extensive selection of additional coverages. These include:

Windshield repair: Instead of replacing your windshield, Erie offers the option to have it repaired, and in return, they will waive your comprehensive deductible.
Pet injury coverage: In the unfortunate event that your pet is injured in a covered accident, Erie will reimburse up to $500 in veterinary bills per pet, with a total limit of $1,000.
Roadside assistance: Should your vehicle break down, Erie’s roadside assistance coverage includes services such as towing, fuel delivery, jump-starts, lockout assistance, and spare tire replacements.
Travel expenses: If your car breaks down far away from home, Erie allows you to recover expenses incurred for meals and lodging.
Erie Auto Plus®: Enhance your coverage with the Erie Auto Plus® package, which offers a diminishing deductible, a $10,000 death benefit, and increased limits for transportation expenses.
Erie Rate Lock®: With this feature, you can lock in your insurance rate for one year, even if you file a claim, as long as you don’t change your address or make changes to your policy regarding vehicles or individuals.
New car replacement: In the event of a total loss accident, if your car is less than two years old, Erie allows you to replace it with a brand new model.
Rental car coverage: Following a covered accident, Erie provides coverage to help with the cost of a rental car.
Roadside and rentals bundle: This comprehensive protection package combines roadside assistance and rental car coverage.

Please note that these are just a few examples of the additional coverages offered by Erie.

Erie Insurance Company Reputation

Erie Insurance is highly regarded in the industry for its exceptional customer service and financial stability, as evidenced by its A+ ratings from the BBB and AM Best. As the 13th-largest auto insurance company in the country, with a market share of slightly over 1% according to the NAIC, Erie Insurance may not be available in all states but is a reliable choice in states where it operates, such as Ohio.

In a recent nationwide survey conducted by our team, Erie Insurance outperformed the industry average in every category, including overall customer satisfaction, affordability, discounts and savings programs, selection of coverage and add-ons, car insurance shopping process, and the company website.

3. Nationwide: Best for Usage-Based Insurance

J.D. Power has given a score of 861 out of 1,000.
The financial strength rating from AM Best is A.
The BBB rating is A+.

Advantages

Numerous standard and additional coverage choices
Insurance based on usage
Among the most affordable car insurance options in Ohio

Disadvantages

Varied customer feedback.

Nationwide Car Insurance Coverage

Nationwide, like many other major insurance companies, provides the six standard types of coverage to safeguard you, your vehicle, and other drivers and their cars in case of an accident. In addition to these standard coverages, Nationwide offers optional add-on coverages for enhanced protection.

Some of the add-on coverages available from Nationwide are:

Roadside assistance: This coverage includes towing, fuel delivery, tire changes, or jump-start services if your car breaks down or you find yourself stranded on the side of the road.
Rental reimbursement coverage: In the event that your vehicle is in the repair shop after a covered accident, this option helps cover the cost of a rental car or alternative transportation.
Gap coverage: If you experience a total-loss accident and are financing your vehicle, this coverage bridges the gap between the actual cash value of your car and the remaining balance on your loan.
Accident forgiveness: By adding this coverage to your policy, your insurance rate will not increase following your first at-fault accident or minor violation, such as a speeding ticket.
Vanishing deductible: For each year of safe driving, you can reduce your deductible by $100, up to a maximum of $500.
Total loss deductible waiver: In the event of a total loss, this benefit eliminates your physical damage deductible.

Nationwide Insurance Company Reputation

Nationwide, a company with almost a century of experience in the business, has established itself as a trustworthy insurance provider that consistently upholds a strong reputation in the industry. Its exceptional financial strength, as evidenced by its A+ rating from AM Best, ensures its capability to fulfill claims. Moreover, the company’s A+ rating from the BBB highlights its unwavering commitment to customer service and resolving complaints effectively.

4. Geico: Best for Budget-Conscious Drivers

The J.D. Power rating stands at an impressive 857 out of 1,000, reflecting a high level of customer satisfaction. Additionally, the AM Best financial strength rating is A++, indicating a strong financial position. Furthermore, the BBB rating is A+, highlighting the company’s excellent reputation and commitment to customer service.

Advantages

AM Best rates their financial strength as A++ and BBB rates them as A+
Most drivers can benefit from their affordable car insurance rates
They offer high policy limits to provide extensive coverage

Disadvantages

Their J.D. Power claims ratings are average
They may not be the most cost-effective option for individuals with poor credit or recent accidents
They have fewer local agents compared to other companies.

Geico Car Insurance Coverage

Geico provides a range of car insurance options to suit your needs, whether you require a basic minimum-liability policy or a comprehensive policy with increased limits. In addition to standard coverages, Geico also offers optional coverages like emergency roadside assistance, rental car reimbursement, rideshare insurance, and Mechanical breakdown insurance (MBI).

Geico Insurance Company Reputation

Established in 1936, Geico has grown to become the third-largest car insurance provider in the country, with a market share of 13.8% as reported by the NAIC. Geico holds an A++ rating from AM Best, signifying outstanding financial stability and a consistent track record of fulfilling claims. Additionally, the company’s A+ rating from the BBB reflects its commitment to addressing customer feedback and concerns. These accolades, along with positive customer reviews, have solidified Geico’s reputation as a reliable insurer that prioritizes customer protection and satisfaction.

5. Auto-Owners Insurance: Best for Young Drivers

J.D. Power score: 862 out of 1,000
AM Best financial strength rating: A++
BBB rating: A+

Advantages

Favorable feedback from customers
Diverse range of insurance offerings
Strong financial stability

Disadvantages

Restricted availability
Subpar claims handling
Minimal online visibility.

Auto-Owners Insurance Coverage

Auto-Owners Insurance offers a variety of optional coverages in addition to the standard car insurance policies. These include:

Road trouble service: This coverage provides roadside assistance in case your vehicle breaks down on the side of the road.
Additional expense: This coverage pays for a rental car if your vehicle is in the repair shop after a covered accident, as well as covering food and lodging expenses if you are far from home when the accident occurs.
Loan/lease gap: If you have a total-loss accident while financing your vehicle, this optional coverage will cover the difference between the actual value of your car and what you still owe on it.
Diminished value: This coverage compensates you for any decrease in your vehicle’s value following a covered accident.
Rental auto gap: This coverage provides liability coverage as outlined in the rental agreement.

Auto-Owners Insurance Company Reputation

Auto-Owners Insurance, while not as widely recognized as some other insurance providers, boasts over a century of experience in the industry. The company has received top ratings from AM Best (A++) and the BBB (A+). With a workforce of 48,000 agents, Auto-Owners Insurance offers a variety of insurance products, such as home, life, and business coverage, across 26 states. The company prides itself on providing personalized and friendly service to its customers.

How To Find the Best Car Insurance in Ohio

Finding the best car insurance in Ohio involves a mix of comparing discounts, considering usage-based insurance programs, maintaining a clean driving record, keeping your policy active, bundling policies, and understanding the state’s minimum coverage requirements. Here’s a breakdown of steps you can take:

Shop for Discounts: Compare discounts offered by different insurance providers to maximize savings. These discounts can vary, so it’s worth exploring what each company offers.
Enroll in a Usage-Based Insurance (UBI) Program: Many major insurers offer UBI programs that customize your rate based on your driving habits. These programs can lead to significant savings if you drive safely and infrequently.
Maintain a Clean Driving Record: Avoid accidents and moving violations to keep your premiums low. A single incident can cause a spike in your premium costs, so driving safely is key to saving money.
Keep Your Policy Active: Avoid lapses in coverage, as even a short lapse can lead to increased rates when you reinstate your policy. Consider signing up for autopay or paying your premium upfront to prevent accidental lapses and potentially earn discounts.
Bundle Policies: If you have multiple insurance needs, consider bundling your policies with one insurer. Bundling can often lead to discounted rates on each product within the bundle, such as car, home, and motorcycle insurance.
Consider Adjusting Your Deductible and Coverage: Increasing your deductible and minimizing coverage can lower your premium costs. However, be aware that this may result in higher out-of-pocket expenses in the event of an accident.

Additionally, make sure you understand Ohio’s minimum car insurance requirements, which include:

– $25,000 bodily injury liability coverage per person
– $50,000 bodily injury liability coverage per accident
– $25,000 property damage liability coverage per accident

These minimum coverages protect other drivers and their property in the event of an accident. Insurers typically list these requirements as three side-by-side numbers, such as 25/50/25, indicating the minimum coverage for each component.

By following these steps and understanding Ohio’s insurance requirements, you can find the best car insurance coverage that meets your needs and budget.

Consider How Much Car Insurance Coverage You Need

Determining how much car insurance coverage you need involves considering various factors:

1. State Requirements: You must meet your state’s minimum liability coverage requirements to drive legally. In Ohio, this means having liability insurance covering bodily injury and property damage.

2. Lender Requirements: If you’re financing your vehicle, your lender may require comprehensive and collision coverage to protect their investment. These coverages protect your car, unlike liability insurance which only covers damages to other parties.

3. Financial Situation and Repair Costs: If you own your car outright and can afford to cover damages out of pocket, you may opt for a minimum-coverage policy instead of full coverage. However, ensure you have enough savings to cover worst-case scenarios, including a total loss. You can assess average repair costs for your vehicle model through sources like RepairPal.

In addition to liability coverage, Ohio drivers should understand other standard car insurance coverages:

– Collision Coverage: This covers damage to your vehicle resulting from a covered accident or collision.
– Comprehensive Coverage: Comprehensive insurance pays for damages to your vehicle from non-collision events like vandalism, theft, fire, or natural disasters.
– Underinsured/Uninsured Motorist Coverage (UIM/UM): Protects your finances if you’re in an accident with an uninsured or underinsured driver.
– Medical Payments Coverage (MedPay): Compensates you and your passengers for medical expenses resulting from an accident, regardless of fault.
– Personal Injury Protection (PIP): Not offered in Ohio, but you can add MedPay coverage to your policy, which functions similarly.

When deciding on coverage amounts, consider your financial situation, driving habits, and the value of your vehicle. It’s crucial to strike a balance between adequate coverage and affordability to protect yourself and your assets in the event of an accident. Consulting with an insurance agent can help you tailor your coverage to your specific needs.

Average Cost of Car Insurance in Ohio

With a variety of factors influencing car insurance costs in Ohio, it’s essential to understand the dynamics to find the best coverage at an optimal price. Here’s a breakdown:

1.Statewide Average Costs:
– Full coverage: $1,599 annually ($133 monthly)
– Minimum coverage: $536 annually ($45 monthly)

2.Provider Comparison:
– Full coverage: Nationwide offers the cheapest at $825 annually.
– Minimum coverage: Erie Insurance provides the best average rate at $237 annually.

3.Age Group Differences:
– Younger drivers typically pay higher premiums due to their perceived higher risk.
– Nationwide consistently offers the most competitive rates across age groups.

4.City-specific Variances:
– Rates can significantly differ based on location, with urban areas like Cleveland and Columbus having higher premiums.
– Rural areas like Brunswick tend to have lower average annual rates.

5.Common Discounts:
– Insurers offer various discounts such as multiple policies, multiple vehicles, good student, and safe driver discounts.
– Paying in full and setting up automatic payments can also lead to discounts.

Conclusion

When selecting car insurance in Ohio, consider your specific needs, including coverage requirements, financial situation, and driving habits. Compare quotes from multiple providers to find the best balance between coverage and affordability. Additionally, explore available discounts to further reduce your premiums. With careful consideration, you can secure adequate coverage without breaking the bank.