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How much is car insurance in Loveland?
|Area||Average Monthly Car Insurance Premium|
The cost of coverage in Loveland is about $4 a month cheaper than it is for the rest of Ohio.
When stacked up against the national average, the average monthly policy payment for Loveland is more affordable. It's around $27 less to insure your vehicle compared to the average rate for the United States as a whole.
Although these are the average car insurance rates in Loveland, you could end up paying something different. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay to get car insurance. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the final dollar amount you'll be asked to pay each month.
We've done the heavy lifting for you and broken down the average rate for Loveland so that you can get a more accurate idea of what your monthly bill might be. And if you're not sure if you're getting the cheapest rate, 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|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally, the older you are the more experienced you are behind the wheel, right? When it comes to car insurance bills, that experience pays off. In this case, 18-24-year-olds pay two times as much as drivers 65 and older.
As you get older, you can expect to see a drop in your monthly premium every 10 years. Drivers in Loveland may see their rates start to rise again once they hit retirement age.
Average Car Insurance Rates by Gender
Female drivers pay, on average, slightly less than their male counterparts. This is true in Loveland, where women pay around $4 less per month. Based on the chart above, you can see that female drivers pay around $51 on average, while male drivers typically pay $55 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can vary wildly depending on your driving record. Those with clean records will obviously pay a lot less than those with infractions. In Loveland, having a single accident on your record will usually get you rates around $64 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $93 on average.
Wherever you live, accidents, tickets, and other driving infractions will almost certainly drive up your monthly bill. So, if cheaper car insurance is important to you, keep your record clean and drive safe.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$50|
|15 Years or Older||$57|
The most affordable vehicles to insure in Loveland are typically SUVs, which run about $45 per month.
Car owners can expect to pay an average of around $55 a month for their policy, while truck and van drivers are usually around $57 to insure each month.
Depending on your vehicle's age, you can also expect to see slightly different rates. Generally, newer vehicles are going to cost the most to insure. However, once your car is close to 5 years old, you might start to see your rates slide back down slightly. In Loveland, vehicles six-to-seven years old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$57|
Generally, those who are currently married will pay slightly less for insurance coverage. This usually happens because companies will award special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, married drivers typically pay less than single drivers for auto insurance. Loveland is no exception, with the difference totaling to around $16 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$88|
Another factor that comes into play is your living accommodations. If you rent your home or apartment, expect to pay around $11 a month more than if you own your own home in Loveland. But those who live at home with their parents can expect to pay significantly more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Loveland, OH
Recent trends in car insurance for Loveland drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when choosing your car insurance policy.
The rates for car insurance in Loveland had been decreasing from 2017-2018, but began to rise in 2021. This pattern has continued through 2022 when rates have most recently hit $113 a month.
How does Loveland compare to neighboring areas?
Why are car insurance rates in Loveland different from other areas?
There are a number of factors car insurance companies will consider when deciding how much to charge for a monthly rate. Many factors affecting your policy are based around where you live. These factors include things like:
- Number of drivers in the area
- Amount of off-street parking
- Regional laws
- Local crime rates
- Rate of car accidents
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Loveland?
While getting familiar with 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.
Luckily, Compare.com does all of that work for you. Just type in your ZIP below, answer a few questions regarding the factors mentioned above, and you'll be comparing the cheapest quotes from several of the car insurance companies offering plans in Loveland.
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Loveland Insurance FAQs
What factors affect car insurance quotes in Loveland?
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 driving record, address, credit score, marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Loveland different from other neighboring cities?
Things like crime rates, local laws, and parking situations, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Loveland?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Loveland?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea 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?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Loveland or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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