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How much is car insurance in Lima?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, it costs about the same to insure your vehicle in Lima as it does in the rest of Ohio.
Drivers relocating from out of state may enjoy some cost savings in Lima. Auto insurance coverage in Lima is about $26 cheaper than it is for the rest of the United States.
While these are the average car insurance rates for Lima, you could end up paying something different. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining the bill you'll see each month.
But worry not, we've done the heavy lifting and broken down the average rate for Lima to help you understand what exactly you might be asked to pay. And if you think you might be overpaying for insurance, simply enter your ZIP Code below to learn more about rates in your area!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
More time behind the wheel makes you a more experienced driver. That experience can turn into some real savings when it comes to car insurance premiums. According to the table above, you can see that 18-24-year-olds pay two times as much as someone who is at retirement age.
For every ten years older you get, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, your rates may rise again in Lima.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. While male drivers actually pay a bit less than female drivers on their monthly insurance rates, the difference in Lima is only about $2 per month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the key factors in determining your car insurance rates is your driving record. Those with clean records can expect to pay significantly less than those with infractions. Drivers in Lima with a single accident on their record will usually see rates around $81 a month. Similarly, drivers with one ticket will typically pay around $67 on average.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$31|
|15 Years or Older||$57|
In Lima, the cheapest vehicles to insure are by and large trucks and vans, with drivers paying around $51 per month for auto insurance.
Car owners will see a monthly rate of about $56, while SUV owners usually pay around $55 a month.
In addition to vehicle type, you can also expect to see slightly different rates based on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. Once your car is a few years old, however, you may see your rates begin to drop back down. In Lima, the most expensive vehicles to insure are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$60|
On average, married policyholders will pay slightly less for car insurance. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Lima, with married couples paying about $15 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$84|
Another factor taken into consideration is your housing situation. If you rent your home or apartment in Lima, expect to pay around $13 a month more than if you own your home. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Lima, OH
Recent trends in car insurance for Lima drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before deciding on where to shop.
In Lima, the rates for car insurance had been increasing from 2017-2018, when they hit a high of $75. This shifted in 2019, when rates started to decrease. They reached a low of $37 in 2021, and finished at $42 in 2022.
How does Lima compare to neighboring areas?
Why are car insurance rates in Lima different from other areas?
Car insurance companies will consider several factors when trying to decide how much to charge for a policy. While we already mentioned the ones that affect your personal policy, others are influenced by where you call home. These include things like:
- Road Safety (frequency of local car accidents)
- Access to off-street parking
- Local laws
- Amount of drivers
- Local crime rates
While you won't have the ability to change these factors yourself, they can be handy to keep in mind when seeking a new policy or considering a move. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Lima?
In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.
Fortunately, Compare.com does all of that work for you. Just enter your ZIP below, answer a few questions about you and your car, and you'll be comparing the cheapest quotes from many of the car insurance companies that offer plans in Lima.
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Lima Insurance FAQs
What factors affect car insurance quotes in Lima?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your address, driving record, marital status, credit score, plus your vehicle's year and make and model.
Why is the cost of car insurance in Lima different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like local laws, parking situations, and crime rates when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Lima?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Lima?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Lima or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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