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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/CompleteGuides/CompleteAutoGuide.pdf,
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: Ohio Shopper’s Guide Series, Auto Insurance:
Helping You Choose & Understand Your Auto Insurance,
July 28, 2005
(Web version), Ohio Department of Insurance
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The use of arbitration by P/C insurers and
self-insureds to resolve inter-company claims disputes increased
by nearly 8% in 2003, with the number of arbitration filings
increasing to more than 434,000. More than 80% of inter-company
arbitration disputes involve auto collisions.
(Arbitration Forums, Inc.) |
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