By: Shravya Reddy October, 25, 2019
With a population of 198,006, Akron is the fifth largest city in the state of Ohio. Research done by Gavop estimates the average rate of car insurance in Akron is $1,044 per year. It is safe to say that the most populated areas in Ohio are also the locations of the majority of accidents. In comparison, in nearby Tallmadge, OH, drivers spend $904 on annual car insurance, while, in Brimfield, OH, it will cost drivers around $850 for similar coverage.
For insurance companies, more number of accidents result in larger claims, which can, in turn, increase insurance rates. Several other factors can have an impact on car insurance premiums. Depending on location, age, gender, car model, and driving history, car insurance rates in Akron can fluctuate from being as low as $457 and as high as $1,696. In Akron, men make up 48% of the population, and 52% are women. Typically, in Akron, women pay $970 in car insurance premiums when compared to $1,743 paid by men for similar coverage. Married men pay $564 more than married women in the city.
Moreover, senior men in Akron pay $31 less than senior women. Comprising 18% of the population, Akron seniors spend an average of $1,378 towards car insurance costs. In that, senior men pay $1,357, and senior women pay $1388 in average car insurance.
7% of the total population in Akron are teenagers. Insurance companies view teenagers as high risk, mainly due to their lack of driving experience. Akron teenagers pay $3,403 in insurance; in contrast, teenagers in Sawyerwood, OH, pay $1,421 more for similar coverage. Post-DUI rates in Akron are not as forgiving as those in other cities. A male teenager post-DUI would pay $6,950, and a female teenager would pay $5,786 in car insurance. For instance, in Akron, a male teenager driving a 2006 Buick Rainier would pay $6,212 in car insurance, while a female teenager would pay $5,170 for similar coverage.
Several other factors could impact car insurance rates, including the deductible. For instance, in Akron, for a driver with a high deductible of 1,000 and a car insurance premium of $1,090, could see net savings of $80. Likewise, bundling car insurance for multiple vehicles is a good idea. 43% of Akron drivers own one car, while 30% own two vehicles, and 8% own three cars. If the cost of insurance for two cars is $1,984 in Akron, then for a driver insuring three vehicles it would be $3,028. For drivers insuring for cars, the car insurance rate would be $4,072.
Shravya Reddy is a writer, public relations associate and content producer. She has worked in the corporate space on various mediums of print media as well as digital media. As a journalist, she has covered a range of topics including real estate, architecture, design, and technology. She has contributed to various online publications as a copywriter and copy editor. Shravya has done her BA in Journalism, Film & Media from Cardiff University. In her spare time, she enjoys traveling, exploring new cuisines and culture and wildlife.