Report: Ohio auto insurance rates lowest in country

AP Photo/Mark Duncan
AP Photo/Mark Duncan

COLUMBUS, Ohio (WDTN) – Ohioans benefit from the least expensive auto insurance rates in the country, according to a recent report.

An Insure.com survey shows the 2014 average annual premium for an auto policy for a new vehicle in Ohio is $926.

That’s compared to the national average of $1,503.

“Competition drives down the cost of any insurance product, whether it is auto, health, homeowners or life insurance,” Ohio Lieutenant Governor and Insurance Director Mary Taylor said. “This report demonstrates choice, competition and a free market are better for consumers and their bottom line.”

Approximately 660 car insurance companies do business in Ohio. Only Illinois and Texas having more auto insurance providers.

The report, available at www.insure.com.

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