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How much is car insurance in Lorain?
|Area||Average Monthly Car Insurance Premium|
Car insurance coverage in Lorain is about $7 cheaper than it is in the rest of Ohio.
Similarly, car insurance rates in Lorain are more affordable than the national average. It's around $30 less to insure your vehicle compared to the average rate for the U.S. as a whole.
Although these are the average car insurance rates in Lorain, you could end up paying something different. The monthly rate that insurance companies end up charging you is determined by a variety of factors. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect your policy's monthly price.
We've done the heavy lifting for you and broken down the average rate for Lorain so that you can get a more accurate idea of what your policy will cost you. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
It would make sense that older drivers have more driving experience, right? That experience can lead to some serious savings when it comes to car insurance premiums. According to the table above, you can see that 18-24-year-olds pay twice as much as someone who is at retirement age.
For every 10 years, you can expect to see a decrease in your monthly premium. Drivers in Lorain may see their rates begin to increase again once they hit retirement.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. The difference in Lorain is around $5 a month. Looking at the table above, you can see that female drivers pay around $48 on average, while male drivers typically pay $53 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a huge impact on your car insurance rates. Those with clean records can expect to pay less than those with infractions. In Lorain, having a single accident on your record will usually get you rates around $87 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $61.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$51|
|15 Years or Older||$44|
In Lorain, the cheapest vehicles to insure are by and large SUVs, with drivers paying around $43 per month for insurance.
Car owners, on the other hand, typically pay around $55 per month, while truck and van drivers can expect to pay about $48 a month for car insurance coverage.
In addition to vehicle type, you can also expect to see slightly different rates depending on how old your vehicle is. Generally, newer vehicles are going to be the most expensive to insure. However, if your car is close to 5 years old, you can expect to see your rates start dropping back down. In Lorain, 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)||$52|
Generally, those who are currently married will pay slightly less for auto insurance coverage. This can usually be attributed to their policies having multiple vehicles, a factor some companies will reward with discounts.
In Lorain, the difference in rates based on relationship status can be as much as $6 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$95|
Your living accommodations is another component of how insurance companies calculate your monthly rate. Renters can expect to pay around $14 a month more than those who own their own home in Lorain. But those who live at home with their parents can expect to pay significantly more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your car insurance premiums.
Car Insurance Companies in Lorain, OH
Recent trends in car insurance for Lorain drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.
Car insurance rates in Lorain rose from 2017-2018, when they reached a high of $66. This leveled out in 2019, when they began to decrease again. They finished down in 2022, at $27 per month
How does Lorain compare to neighboring areas?
Why are car insurance rates in Lorain different from other areas?
There are numerous factors car insurance companies take into consideration when deciding how much to charge for a monthly rate. The specifics of where you park your car will have an impact on your personal policy. This might include things like:
- Number of drivers in the region
- Regional crime rates
- Off-street parking availability
- Road Safety (frequency of car accidents)
- Local regulations
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. 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 Lorain?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Good news! Compare.com has you covered. Put in your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies offering coverage in Lorain in no time.
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Lorain Insurance FAQs
What factors affect car insurance quotes in Lorain?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your age and gender but also factors like your vehicle's year, make and model, plus your marital status, address, credit score, and driving record.
Why is the cost of car insurance in Lorain different from other neighboring cities?
Local laws, parking situations, and crime rates -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Lorain?
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 Lorain?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Lorain or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?
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