Average car insurance cost in Toledo, Ohio

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Our analysis shows that drivers in Toledo pay about $1,601 per year for car insurance. It is $184 more than the Ohio average and $294 less than the nationwide average.

Insurance rates can differ significantly depending on where you live. Factors like population density, accident rates and theft statistics all play a role in determining premiums. As a result, drivers in some ZIP codes pay higher premiums.

Understanding how car insurance rates in Toledo stack up against state and national averages can help you make informed decisions. We’ll walk you through local trends, rate changes and how to save on your premiums.

Cheap car insurance companies in Toledo

Grange Insurance provides the lowest full coverage car insurance rate in Toledo, with an annual premium of $1,085 for the liability limits of $100,000 per person, $300,000 per accident and $100,000 for property damage.

Auto-Owners also offers cheap full coverage car insurance rates at an average annual cost of $1,200.

Every insurance company calculates premiums differently based on its unique underwriting guidelines. This means prices can vary widely, so getting quotes from multiple insurers is one of the best ways to find affordable coverage tailored to you.

Below is a breakdown of average yearly and monthly car insurance rates from different insurers in Toledo.

Read about the best car insurance companies.

Average car insurance cost in Toledo by coverage limits

Here’s a breakdown of average car insurance rates in Toledo by coverage type.

• State minimum coverage: $449 per year (limits are $25,000 bodily injury liability per person, $50,000 total bodily injury liability per accident and $25,000 property damage liability per accident).
• Liability only coverage: $569 per year (limits are $50,000 bodily injury liability per person, $100,000 total bodily injury liability per accident and $50,000 property damage liability per accident).
• Full coverage: $1,601 per year (limits are $100,000 bodily injury liability per person, $300,000 total bodily injury liability per accident and $100,000 property damage liability per accident).
• Non-owners coverage: $258 per year

While liability insurance is required in nearly every state to drive legally, the minimum coverage limits differ by state. This coverage protects you financially if you’re responsible for injuring someone or damaging their property in a crash.

Minimum liability insurance only covers damage or injuries you cause to others – it won’t help with your own medical bills or car repairs. You should consider adding collision and comprehensive coverage for adequate protection.

Average car insurance rates by gender in Toledo

In Toledo, female drivers pay an average of $1,610 per year for car insurance. In comparison, male drivers pay $1,592 annually, which is $18 less than what female drivers pay. Most states consider gender when calculating premiums. However, states such as California, Hawaii, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania don’t allow insurers to use gender as a rating factor to determine insurance rates.

According to the Insurance Information Institute, or Triple-I, women tend to be safer drivers than men and are less likely to be involved in severe accidents. Insurers account for this risk by charging male drivers higher premiums.

Read more on how gender affects car insurance rates.

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Average car insurance rates by age in Toledo

Teen drivers in Toledo face the highest car insurance rates, at $5,383 per year or $449 per month. According to the Insurance Information Institute, insurance costs are higher for teens aged 16 to 19 due to their increased risk of accidents and limited driving experience. On average, teen drivers pay $2,772 more for car insurance than young adults.

Car insurance premiums typically drop as teens age and gain more experience behind the wheel. On average, young adults (ages 20 to 24) pay $2,611 annually for coverage – that’s $2,772 less than what teens usually pay.

Adults between 25 and 55 and senior drivers between 60 and 75 in Toledo pay an average of $1,614 and $1,663 per year for car insurance, respectively.

Read more on auto insurance for seniors.

Below is a breakdown of average annual full coverage car insurance rates by age group.

Car insurance rate trends in Toledo

Car insurance rates in Toledo saw an upward trend between 2022 and 2023. During this period, average premiums increase by 35% – a change of about $414.

The graph below tracks insurance costs from 2016 to 2023, highlighting long-term trends that help explain today’s rate changes.

How drivers can save on insurance even with higher rates

Car insurance rates in Toledo are higher than the Ohio state average. To find affordable coverage, consider comparing quotes from at least three to five insurers. You can also save by taking advantage of discounts for safe driving, low annual mileage or bundling your policies.

Methodology

Insure.com commissioned car insurance rates in 2023 from Quadrant Information Services. To determine the average premiums, our team of data analysts and expert editors analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your rates may vary.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.