There areMore than 8 million driversOhio is home to the following: No matter where they reside, every licensed driver in Ohio must have minimum car insurance.Lima’s average car insurance cost is $317/year for a minimum coverage policy, and $963/year for a full coverage policy.
Lima drivers who are looking for car insurance can choose from many providers. Some insurers are better than other. To find the best car insurance in Lima, we reviewed some of the largest car insurance companies in Ohio, and evaluated each one based on price, coverage options and more.
The best car insurance companies Lima
We compared several companies to find the best auto insurance companies in Lima. Erie, State Farm and MetLife were our top picks. These providers offer great rates, excellent coverage options, and high ratings for financial strength and customer satisfaction.
J.D. ranked Erie as the North Central region’s best car insurance company for overall customer satisfaction. Power. Erie offers many perks as standard with all auto policies, including excellent customer service and affordable rates. You get a rate lock guarantee, disappearing deductibles, pet coverage, new vehicle protection, and much more.
State Farm is one of the cheapest car insurance companies in Lima. State Farm is well-known for offering generous discounts and, in particular, savings that are geared towards young drivers. State Farm offers two safe driver rewards programs. The Steer Clear program is for young drivers less than 25 years old. State Farm offers standard discounts for policy bundles, being a good student and having a safe car, among other things.
MetLife is known for its excellent home insurance products, but the company also offers great car insurance. MetLife rates are slightly higher than Lima’s average premiums, but the company offers some discounts to help you save. MetLife’s endorsement policies are the best among all providers. They include: identity theft coverage; new car replacement; special parts coverage; enhanced car rental coverage, and many other benefits.
Only military personnel can get USAA coverage for Lima drivers. USAA has the best ratings from third parties and offers the lowest rates in the area. Lima drivers have the opportunity to save money with USAA by having their vehicle garaged on base, bundling policies and being claim-free. They can also be a legacy customer, insuring new vehicles, and taking driver training courses. USAA offers flexible payment options.
Lima has the cheapest car insurance
Lima’s average annual cost for car insurance is $317 for minimal coverage and $963 to cover full coverage. In comparison the average annual cost of car insurance in Ohio is $1,034 for full coverage. The average national rate for full coverage insurance is $1,674.
Car insurance rates can vary widely between providers. Below is a table that shows the lowest car insurance rates in Lima based on market share.
Drivers looking for the cheapest car insurance in Ohio should take some time to compare providers based on factors other than price. It is not guaranteed that the lowest-priced provider will offer the coverage you need or offer the best discounts.
To get insurance through USAA you must be a member of the military. Geico may be better if you are looking for bare-bones coverage but want a low rate. Keep in mind, however, that coverage options are limited.
All five providers offer great discounts. The actual savings you can get will vary. Geico, for example, is the only provider to offer a discount for federal employees and USAA offers a discount for legacy customers.
Lima insurance requirements
In Lima, drivers are required to carry a minimum of 25/50/25 personal liability insurance. This includes the following coverage limits.
- $25,000 per person for bodily injury liability coverage
- $50,000 per accident for bodily injury liability
- $25,000 per accident for property damage liability coverage
Uninsured motorist coverage must also be provided, but it can be declined in writing.
There are four ways you can satisfy Ohio’s financial accountability law.
- A certificate from BMV verifying that the driver has a $30,000 bond with the Treasury.
- Two people signed a certificate of bond by the BMV for $30,000 that was issued by the BMV to secure real estate holding at least $60,000 equity.
- BMV issues a certificate of self-insurance to individuals and businesses that own more than 25 vehicles.
- A $30,000 bond issued to you by an insurance company or surety firm.
Although you are not required to have minimum coverage, most insurance companies recommend that drivers increase their policy limits for greater protection. You would be responsible for any excess damages incurred in an accident that exceeds your coverage limit.
A liability-only policy will not cover your vehicle if it is hit by another driver. To protect your vehicle and provide medical payments coverage, it is a smart idea to buy full coverage insurance. Full coverage is required if you lease or finance your vehicle.
Lima car insurance discount
Discounts can be found with almost every Ohio car insurance company. These are some of the Lima discounts:
- Multi-vehicle discount:You may be eligible for a slightly lower rate if you have more than one vehicle covered by your auto insurance policy.
- Get a full discount when you pay in fullDrivers who pay their annual premium upfront or in full could be eligible for a lower rate.
- Homeowner discount:You might be eligible to save money on your auto insurance if you own a house.
- New vehicle discount:Insurance companies may offer discounts to drivers who have two years of coverage on a vehicle.
Discounts on car insurance can help you save money. However, the savings will depend on the discount offered and the company. New vehicle discounts are more likely to save you money than multi-vehicle discounts. Take note of the average savings you could get by comparing providers.
Questions frequently asked
Which is the best auto insurance company?
The best car insurance company is different for every driver, because insurance needs are individualized. The Hartford, Nationwide, Nationwide, MetLife, Nationwide, USAA and State Farm are some of the top-rated car insurance providers according to Bankrate.
What is the cost of car insurance in Lima?
Lima drivers pay an average rate for minimum coverage insurance of $317 and full coverage insurance of $963 annually. Car insurance rates can be personalized. This means that you may pay a different rate depending on your driving record, credit score (in most cases), claim history, and age.