Greatest low cost car insurance in Lima for 2021 – Bankrate.com
There are more than eight million drivers in the state of Ohio. Every licensed driver in Buckeye State must have a minimum amount of insurance, regardless of where they live. In Lima, the average cost of auto insurance is $ 317 per year for a minimum policy and $ 963 per year for full insurance.
Drivers who take out car insurance in Lima can choose from a number of providers. However, some insurers are better than others. To find the best auto insurance in Lima, we reviewed some of the largest auto insurance companies in Ohio and rated each one based on price, insurance options, and more.
The best auto insurance in Lima
After our in-depth comparison, we found that Erie, State Farm, MetLife, and USAA are the best auto insurance companies in Lima. We chose these providers because they offer affordable tariffs, good coverage options, great discounts, and high ratings for overall customer satisfaction and financial strength.
|insurance company||J.D. Power score||Average annual premium for minimum coverage||Average annual premium for fully comprehensive insurance|
|Erie||857 / 1,000||$ 241||$ 903|
|District farm||851/1000||$ 286||$ 853|
|MetLife||849 / 1,000||$ 434||$ 1,138|
|USAA||895/1000||$ 235||$ 756|
Erie was born by J.D. Power ranked the best auto insurance company in the North Central area for overall customer satisfaction. In addition to excellent customer service and affordable prices, Erie also offers a number of free perks with any standard car insurance. There is a rate lock guarantee, a vanishing deductible, first accident forgiveness, pet protection, new car protection and more.
State Farm is one of the cheapest auto insurance companies in Lima. The company is known for its generous discounts and especially savings aimed at young drivers. State Farm offers two safe driver reward programs, including the Steer Clear program, which is aimed at young drivers under 25. State Farm also offers standard bundling policies, good students, a safe vehicle, and more.
MetLife is known for its home insurance offering, but the company also has excellent auto insurance. MetLife's plans are a little more expensive than the average Lima premiums, but the company offers some discounts for additional savings. Out of all of the vendors we reviewed, MetLife stands out for its support policies that include identity theft protection, new car replacement, special parts protection, advanced rental car protection, and more.
Lima drivers can only get USAA coverage if they are affiliated with the military. However, USAA offers some of the lowest prices in town and has the best third-party reviews. With USAA, Lima drivers can save money by parking their vehicle on the base, bundling policies, being damage-free, being an old customer, insuring a new vehicle, taking part in driver training and much more. USAA also offers flexible payment plans.
Cheapest car insurance in Lima
The average annual cost of auto insurance in Lima is $ 317 for minimum insurance and $ 963 for fully comprehensive insurance. By comparison, the average annual cost of auto insurance in Ohio is $ 1,034 for full coverage. Nationwide, the average rate for fully comprehensive insurance is $ 1,674.
Car insurance rates often vary between providers. In the table below, we have listed the cheapest car insurance rates in Lima from the most popular providers based on market share:
|insurance company||Average annual premium for minimum coverage||Average annual premium for fully comprehensive insurance|
|USAA||$ 235||$ 756|
|Erie||$ 241||$ 903|
|District farm||$ 286||$ 853|
|Geico||$ 293||$ 767|
|Car owner||$ 311||$ 968|
Drivers looking for the cheapest Ohio auto insurance should take some time to compare providers based on factors other than price. There is no guarantee that the cheapest provider will offer the type of insurance you want or the best discounts.
For example, to get insurance through the USAA, you must be affiliated with the military. If you need barebones coverage and what is most important about a low price point, Geico may be a better option. Keep in mind, however, that coverage options are very limited.
If you want to take advantage of discounts, all five providers have great options. However, the actual savings available will vary. For example, Geico is the only provider with a state employee discount and USAA is the only provider with a legacy customer discount.
Requirements for the Lima insurance
In Lima, drivers must have at least 25/50/25 liability insurance. This includes the following coverage limits:
- $ 25,000 personal liability insurance per person
- $ 50,000 personal liability insurance per accident
- $ 25,000 in property damage liability insurance per accident
Uninsured motorist insurance must be offered, but can be rejected in writing.
There are four other ways you can comply with Ohio Financial Responsibility Act:
- A certificate from the BMV confirming that a driver has deposited $ 30,000 with the Treasury Department.
- A $ 30,000 bond certificate issued by the BMV signed by two people who own real estate with at least $ 60,000 in equity
- A self-insurance certificate issued by the BMV for private individuals or companies who own more than 25 vehicles.
- A $ 30,000 bond issued by an authorized insurance or surety company.
All you need to do is get a minimum level of insurance, but insurance companies recommend that most drivers increase their insurance limits for more protection. If you cause an accident and the damage exceeds your coverage limit, you will have to pay the rest out of pocket.
In addition, liability insurance does not provide coverage for your vehicle if you hit another driver. It is a good idea to take out fully comprehensive insurance, which includes collision and fully comprehensive insurance to protect your vehicle, as well as health insurance. Full coverage may be required when you lease or finance your car.
Car insurance discounts in Lima
You can find discounts to save money with almost every auto insurance company in Ohio. Here are some of the discounts available in Lima:
- Discount for multiple vehicles: If you have more than one vehicle in your auto insurance, you may be able to get a slightly lower rate.
- Pay full discount: Drivers who choose to pay their annual premium upfront and in full may qualify for a lower fare.
- Homeowner Discount: If you own a home, you can save money on your car insurance even if your home is insured with another insurance company.
- New car discount: Some insurance companies offer a discount to drivers who insure a vehicle from two model years of age.
Auto insurance discounts can be a great way to save money, but keep in mind that the actual savings may vary depending on the type of discount and the company. New car discounts usually have greater savings potential than multi-vehicle discounts. When comparing providers, record the average savings available on the discounts that you can qualify for.
frequently asked Questions
What is the best car insurance?
The best car insurance is different for every driver because the insurance needs are individual. However, some of Bankrate's top rated auto insurance providers are USAA, Amica, State Farm, MetLife, Nationwide, and The Hartford.
How much does car insurance cost in Lima?
Lima drivers pay an average of $ 317 per year for minimum insurance and $ 963 per year for fully comprehensive insurance. Because auto insurance rates are personalized, you can choose to pay a different rate based on age, creditworthiness (in most states), claims history, or driver's license.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and airlines in all 50 states and Washington, DC Coverage Limits:
- $ 100,000 personal injury liability per person
- $ 300,000 liability per accident
- $ 50,000 property damage liability per accident
- $ 100,000 personal injury from an uninsured motorist per person
- $ 300,000 personal injury to an uninsured driver per accident
- $ 500 deductible in case of collision
- $ 500 deductible
To set the minimum coverage limits, Bankrate has used minimum coverage that meets the requirements of each state. Our example drivers own a 2019 Toyota Camry, commute five days a week, and drive 12,000 miles a year.
These are sample rates and should only be used for comparison purposes. Your quotes can be different.