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Ohio has 11th lowest auto insurance rates in the country

Posted On Mon, December 7, 2009

A recent report indicates that Ohio has seen auto insurance rates drop for the third straight year.

The state's Department of Insurance, relying on data from the National Association of Insurance Commissioners, stated that Ohio had the 11th lowest rates for auto insurance in the country in 2007. In 2006, the state had the 13th lowest rates.

"Ohio has a healthy, dynamic and competitive auto insurance marketplace that helps drive the prices of premiums lower to the benefit of consumers," Mary Jo Hudson, director of the department, said.

On average, the cost of an auto insurance policy came to $628.31 in premiums for 2007, which compares to the national average of $794.98. For 2006, the average paid on premiums in the state came in at $654.33.

Analysts from the department said they expect auto insurance rates to go up "slightly" in 2010, with the increase being tied to higher repair and medical costs, along with an uptick in the number of cars on the roads in the state.

Though they may go up, there are ways for consumers to find cheaper auto insurance premiums. Along with making comparisons between different policies offered by companies, consumers may consider getting other insurance products from a provider, which could reduce the amount they pay.

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