2003 Auto Insurance Premiums In Selected Ohio Cities

In 2003 the Ohio Department of Insurance (ODI) requested insurance companies to quote prices they would charge drivers for automobile insurance. Over 50 companies responded, and their rates were reflected in the survey. The table below shows a comparison of auto insurance premiums for selected metropolitan areas in Ohio. Figures shown should be reviewed as a guide. They do not reflect discounts offered by insurers, which could lower insurance costs. On the other hand, accidents and/or traffic violations could raise the rates quoted.

Rating information used in survey

Insurance Coverage Information: Bodily injury liability—$100,000 per person and $300,000 per occurrence; property damage liability—$100,000 per occurrence; $5,000 per person automobile medical payments; uninsured/underinsured motorist coverage—$100,000 per person and $300,000 per occurrence; $500 deductible other than collision coverage (comprehensive); and $500 deductible collision coverage.

Automobile Information: 2003 Toyota Camry, driven to and from work, driven 15,000 miles annually.

Driver Information: Adult driver, 35 years of age, married male with no dependents of legal driving age; no accidents or driving violations within the past three years; and a new customer to an insurance company. Wife is an occasional driver of the car.

Pricing Information: Prices were quoted prior to qualifying for any insurance company discounts. Rates shown reflect annual automobile insurance premiums from standard market insurers (nonstandard company rates are not reflected in the figures).

ODI’s survey includes additional driver history scenarios, including nonstandard insurers. Visit ODI’s Web site at www.ohioinsurance.gov/consumserv/ocs/ocspub.htm, or call 1-800-686-1526 to obtain a copy. The premium a company charges you for insurance will probably differ to reflect your actual coverage, auto and situation.

Note: Figures shown should be reviewed as a guide only
Source: Shopper’s Guide to Automobile Insurance, March 23, 2004 (Web version), Ohio Department of Insurance

In 2003 there were 19 million licensed drivers age 65 and over. By 2030, the number is expected to increase to 40 million, with about 9 million of those 85 years or older. (Insurance Institute for Highway Safety)