The Cost of Insuring Your Car in Cleveland, OH, is $1,004
Cleveland is the 52nd most populous city in the country. According to the U.S. Census Bureau, it has a population of around 384,000. The average cost of auto insurance here is $1,004. This is lower than the cost of auto insurance in neighboring places such as Garfield Heights, Brooklyn Heights, Cuyahoga Heights, Lindale, and Newburgh Heights. Below is a list of factors that affect the cost of auto insurance in Cleveland.
Moreover, car owners can save more on auto insurance by comparing multiple auto insurance quotes. The cost of insurance can also vary from one neighborhood to another, depending on factors such as the rate of auto thefts in that area and the make and model of the vehicle.
Deductibles are one of the most common factors affecting the cost of auto insurance in Cleveland, OH. A higher deductible leads to a decrease in the cost of auto insurance and vice-versa. On a low deductible of $500, the cost of auto insurance can increase to $1,727. Whereas, for a higher deductible ($1,000), the cost of auto insurance can decrease to $1,459.
Age is another common factor that affects the cost of auto insurance in Cleveland. Auto insurance is the most expensive for teenagers. This trend is similar in most parts of the country. The cost of auto insurance tends to decrease with an increase in the driving experience. Teenagers are largely considered to be inexperienced. The average cost of auto insurance for a teenager in Cleveland is $3,258. Auto insurance is cheapest for drivers who are in their 50s and 60s. The average cost of insurance for the former is $885, while the latter pays only $898.
Possessing a healthy credit score is an added advantage when it comes to purchasing auto insurance. The cost of auto insurance for car owners who have an “exceptional” credit score is as low as $861, while car owners with an “average” or a “poor” credit score have to pay $1,365 and $1,638 on an average, respectively.
It is clear that the cost of auto insurance is dependent on several factors. Insurance companies offer numerous discounts depending on one’s driving record and customer loyalty to the company.