Age matters in Columbus—at least when it comes to auto insurance. Based on a recent study, QuoteWizard found that drivers aged 18 to 24 pay over $225 more a year for car insurance than those who are 25 to 34.
We made that discovery after surveying 500 of the city's drivers to find out how much car insurance in Columbus costs. We asked participants to share details such as:
- Car make and model
- Driving history
After analyzing the data, we found some surprising results:
- Columbus drivers with bad driving records pay over $250 more annually for car insurance than those without tickets or accidents on their driving record
- Insuring a new model car from 2015 to 2017 costs almost $700 more a year than one from 2000 to 2004
Average Monthly Car Insurance Rate in Columbus
A number of factors go into figuring out how much you'll end up paying for auto insurance each month including your driving record, the age of your car, and its make and model. Although survey participants varied in all of these aspects, the one factor they had in common was location.
See below to find out the average monthly premium in Columbus and see who offers the cheapest car insurance to the city’s drivers.
Average Monthly Rate in Columbus = $121
Drivers in Columbus pay $121 a month on average for auto insurance. Although this is around what you'll likely pay, other factors can lower or increase your rate. We'll look at the average premium you can expect to pay in Columbus based on gender, driving record, and more.
Men = $125
Men in Columbus can expect to spend about $125 a month on car insurance. Luckily, this doesn't mean this is the rate all Columbus men will be quoted. Male drivers who have been in less accidents, for instance, will pay less each month.
Women = $118
Across the nation, men typically pay more for car insurance than women. Columbus is no exception. Women generally spend $7 less a month to insure their vehicles.
Rates by Age
Age can play a big part in determining how much your car insurance costs. As you can see, younger drives tend to pay the most, with rates decreasing as you get older.
Aged 18-24 = $145
New drivers are the most inexperienced, so it's not surprising that young Columbus residents pay more for car insurance than any other age group.
Still, inexperienced drivers can find other ways to save. For instance, if you excel in school, you may qualify for a good student discount.
Aged 25-34 = $126
Nationwide, once you reach age 25 your insurance rates significantly decrease. In Columbus, people aged 25 to 34 spend almost $20 less a month than those who are 18 to 24. That means they save almost $240 more a year when compared to their younger peers.
Aged 35-44 = $121
As they get older, Columbus drivers should see another price drop, albeit a less significant one. Drivers in this demographic may benefit from having more experience, creating lower premiums.
Aged 45-54 = $121
Rates for this age bracket stay consistent with those aged 35 to 44. Although people typically pay less as they get older, there are a number of other factors that could increase your rates or keep them steady.
People around this age may have teenagers and need to add a teen driver to their policy. Teens are some of the riskiest drivers to insure, which means you could see a spike in your premium if you’re a parent to one (or more).
This demographic also generally makes more money than their younger counterparts. Because of this, they're likely to have multiple cars. Owning more than one car can increase your premium, while having more driving experience would decrease rates.
Aged 55-64 = $105
People in this age group are usually more experienced drivers, which means they are less likely to get into an accident. Insurance companies recognize that and tend to give people in this demographic much lower rates.
For even more savings, ask your agent if they have a mature driver or newly retired discount.
The Cheapest Car Insurance Companies in Columbus
Often, your car insurance premium can change drastically from company to company. This is because insurers weigh factors differently when calculating your rate. One company might place a heavier emphasis on your driving record, while another insurer might care more about your age and gender. This is why comparing quotes is one of the best ways to save on car insurance.
As you can see below, we've analyzed the average premium someone can expect to pay in Columbus by age and company. You may be shocked by the wide range of prices a person might spend based on the insurer they choose.
Rates for 18-24 Year Olds
Depending on which insurance company they choose, an 18- to 24-year-old could end up spending hundreds of dollars more a month on car insurance than their peers. For instance, at $179, Allstate costs $60 more a month on average than Nationwide. That's a difference of $720 a year.
Rates for 25-34 Year Olds
You'll see from the chart above, that just because one insurance company is cheaper for one age group, that doesn't mean the trend continues as you get older. For example, Nationwide has gone from offering the lowest price for 18- to 24-year-olds to having the third lowest premium for 24- to 34-year-olds.
This explains why comparing quotes is something you should do regularly. Don't restrict yourself to only shopping around when you're first looking for coverage.
Rates for 35-44 Year Olds
You'll see here that prices have dropped in general for this demographic. It's also interesting to note that Geico, who previously had some of the highest premiums, now offers the lowest rates for people in this age group.
Rates for 45-54 Year Olds
Columbus drivers in this demographic should shop around. This group has the largest discrepancy in prices among insurers--even more so than drivers aged 18 to 24. Between Farmers and Geico, there is a $63 difference. Customers who decide to get coverage from Geico instead of Farmers can save over $750 annually.
Why would someone stay with a company that charges so much more? Some drivers may not want to spend the time to shop around, or even know that it's an option. Others might believe their loyalty will earn them lower rates. Although some companies might give discounts for staying with them, overall shopping around saves drivers hundreds of dollars a year.
Rates for 55-64 Year Olds
As discussed, people in this age group enjoy much lower rates. The highest premium here at $112 is still lower than the cheapest rate for 18- to 24-year-olds at $119. Although the difference in prices between companies isn't as large, this chart shows customers can still save by comparing quotes at any age.
Of course, when you're looking for an insurance company you may want to consider more than just cost. Above you'll see how Columbus customers rated each insurance company.
Although Farmers and Nationwide both showed up with some of the highest premiums for certain age groups, you'll see they're both rated highly. This could mean they offer quick, fast, and reliable customer service. These companies may also attend to claims in a timely manner.
The Real Cost of Tickets and Accidents
No matter what city you call home, having tickets and accidents on your driving record increases your premium. See below to find out just how much it'll cost you in Columbus.
Drivers who reported tickets or accidents = 23%
Average monthly cost WITH tickets or accidents = $138
Average monthly cost WITHOUT tickets or accidents = $117
In Columbus, 23 percent of drivers have received tickets or been in accidents. Residents with a clean driving history pay $117 on average, while those with a splotchy incident spend $138.
Although it doesn't seem like that big of a difference at first glance, your annual savings for being a good driver ends up being over $250.
The chart above shows that at-fault, no-fault, and speeding incidents are pretty equally spread out. While DUI accidents> only amount to 6 percent of the incidents reported, these drivers should know they will face some of the most severe consequences.
Rates by Age With Tickets or Accidents
No matter your age, you'll have to spend more on car insurance if you live in Columbus and have a less than clean driving record. Even older drivers who tend to have better insurance rates typically pay almost $200 more a year if they’ve received a ticket or been in an accident.
Driving a Newer Car Costs More to Insure in Columbus
Driving a newer car usually costs more to insure. This is because newer vehicles tend to cost more to fix. But does this hold true in Columbus? Read on to find out.
Rates by Age of Car
For the most part, Columbus follows the idea that newer cars are more expensive to insure. As you can see, a vehicle from 2015 to 2017 costs $64 more a month than one from 1995 to 1999. So if you want a new car, you need to be prepared to shell out an extra $768 a year.
Average Rates by Car Make and Model
Another important factor insurers use when calculating your premium is your car make and model. Find out the average costs for various vehicles in Columbus below.
Top 10 most common cars by rate
As the chart above shows, your car make and model can greatly affect your rates. Both the Nissan Altima and Nissan Rogue cost considerably less to insure than the most expensive make and model, the BMW X5. How much more? $660 a year.
Most Expensive Makes to Insure
If you want to drive in style, you'll not only have to shell out money for the vehicle itself, but for your car insurance payments as well. Audi comes in as the most expensive make, just barely beating out BMWs at $164 a month.
Cheapest Makes to Insure in Columbus
Looking to save on car insurance? Buying a Ford might be your safest bet to get the lowest possible rate. But as we've seen, your car make is just one of many factors that determine your monthly premium.
This survey was commissioned by QuoteWizard and conducted by Survata, an independent research firm in San Francisco. Survata interviewed 500 online respondents between June 09, 2016 and June 20, 2016.