Table of contents
How much is car insurance in Toledo?
|Area||Average Monthly Car Insurance Premium|
As you can tell from the chart above, the cost of coverage in Toledo is about $8 a month more expensive than the rest of Ohio.
When stacked up against the national average, the average monthly policy payment for Toledo is more affordable. The average monthly payment in Toledo is about $12 less than the rate for the rest of the U.S.
While these numbers represent the average monthly payments for coverage in Toledo, that doesn't mean it's what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and even your credit score depending on the circumstances.
Don't sweat it however, we've broken down average rates for Toledo residents based on several different factors so that you can get a more accurate idea of what it might cost to insure your vehicle. To find out if you're overpaying for your area, just enter your ZIP below and find out in minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
Generally speaking, the older you are, the more experience you have driving, right? That experience can lead to some serious savings when it comes to car insurance rates. 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. Having said that, once you approach retirement your rates may begin to climb back up.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. While female drivers pay a little bit less than male drivers on their monthly insurance rates, the difference is only about $2 a month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can vary wildly depending on your driving record. Those with fewer accidents and tickets will pay less than those with multiple infractions. The rate for drivers in Toledo with a single accident on their record is about $98 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $94.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$58|
|15 Years or Older||$65|
As you can see in the first table above, the cheapest vehicles to insure in Toledo are typically trucks and vans.
Monthly premiums for SUV owners cost about $60 on average, while the rates for car owners are around $69.
For truck and van drivers, however, their monthly bill totals to about $59.
You may also see different rates based on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to drop back down once your car is more than 5 years old. In Toledo, however, the most expensive vehicles to insure are vehicles eight-to-ten years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$71|
More often than not, people who are married will pay slightly less for their car insurance. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
The difference in Toledo is a big one. Single drivers pay about $17 a month more for their car insurance than those who are married.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$103|
Another factor that comes into play is your housing situation. If you rent your home or apartment in Toledo, expect to pay around $8 a month more than if you own property. But if you live with your parents, you can expect to pay a lot more.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Toledo, OH
Recent trends in car insurance for Toledo drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending before shopping for coverage.
In Toledo, auto insurance rates had been decreasing from 2016-2018, before leveling out in 2019. Car insurance rates decreased again recently, reaching a low of $55 in 2021.
How does Toledo compare to neighboring areas?
Why are car insurance rates in Toledo different from other areas?
There are many factors car insurance companies take into consideration when choosing how much to charge for coverage. Your insurance policy will depend largely on where you park your car and will be influenced by things such as:
- Frequency of car accidents
- Off-street parking access
- Local regulations
- Crime levels
- Amount of drivers in the community
You can't change these factors yourself, but they're something to take into consideration when shopping for a new policy or looking to move into an area. Different towns and cities will all have different average rates, so guides like these are a great place to get started.
How can I find the cheapest car insurance in Toledo?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
But wait! Compare.com will handle the heavy lifting for you. Put in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies that offer plans in Toledo.
Toledo Insurance FAQs
What factors affect car insurance quotes in Toledo?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your credit score, driving record, address, and marital status.
Why is the cost of car insurance in Toledo different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, parking situations, and crime rates into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Toledo?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Toledo?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart 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?
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 Toledo 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?