Ohio’s second-largest city, once infamous as “the Mistake on the Lake,” is making a comeback. Today, Cleveland is a hub for sports, art, education, and of course rock and roll. And with the Browns’ recent success, there’s no better time to move to the Forest City than the present.
If you’re considering making Cleveland your forever home, it’s nice to know that the city is one of the safest when it comes to natural disasters. But with high property crime rates, winter weather, and the area’s high local taxes, finding the insurance coverage you need at an affordable rate is key.
Lucky for you, Insurify makes finding affordable home insurance easy. With Insurify’s homeowners comparison tools, you can see insurance options and costs from various Ohio homeowners insurance companies to find the best homeowners insurance coverage in just a few minutes.
Overpaying for Cleveland homeowners insurance?
How to Find Cheap Home Insurance in Cleveland
Homes in Cleveland cost roughly $80,000 on average, which is over $150,000 cheaper than the national average. But $80,000 is still a lot of money, and your home will probably be one of the most expensive purchases you ever make. That’s why protecting your humble abode is so important, especially with perils like flooding, tornadoes, and snowstorms in Cleveland.
Home insurance is your one-stop shop for protection. Your homeowners policy will cover your home and personal belongings and even provides liability insurance and additional living expenses coverage to help your family after a natural disaster or home burglary.
Every Ohio homeowners insurance policy comes with a different amount of coverage, deductibles, and cost, so you can cater your coverage to your needs. Keep reading for a full guide on Cleveland home insurance.
MORE ON OHIO HOME INSURANCE
For general information on Ohio home insurance, check out our guide for the best homeowners insurance in Ohio. For more city-specific information, here are our guides to Cincinnati homeowners insurance, Columbus homeowners insurance, and Toledo homeowners insurance.
Cheapest Home Insurance in Cleveland by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2020, the average homeowners insurance premium in the Cleveland area costs $2,242 annually, and the median home value is $79,166.
Cleveland’s average home insurance rate is pretty close to the national average, but shopping around for insurance quotes from the best home insurance companies could help you save on your annual premiums.
While all insurance providers are required to offer certain protections, every company has different coverage options, insurance costs, and even discounts. So if you’re looking for good coverage, low premiums, and great customer service, you’ll need to shop around to find the best insurance provider for you. Make sure to get a quote from insurers like Nationwide, Erie Insurance, and Allstate, along with local providers like Pilat Insurance Agency, to make sure you’re getting the most out of your policy.
|Average Home Cost in Cleveland||Average Annual Insurance Premium in Cleveland|
Cheapest ZIP Codes in Cleveland for Home Insurance
Your home insurance rates are based on variables specific to you and your home. But did you know that your specific neighborhood can affect your premiums, too?
Home insurance prices are determined based on variables specific to your ZIP code, like your neighborhood’s crime rates and the number of home insurance claims filed nearby. So not only does the value of your home affect your insurance cost, but the value of your neighbors’ homes can also determine how much you pay for your annual premiums. That’s why homeowners in Brooklyn, for instance, pay less for their property insurance than those in Central Cleveland.
Rates in Cleveland are still low compared to the average cost of insurance in other Ohio cities like Cincinnati and Columbus, but your specific premium depends on which area you live in. Here are the most and least expensive ZIP codes in Cleveland for home insurance.
|Most Expensive Real Estate in Cleveland||Cheapest Real Estate in Cleveland|
|Tremont||$203,496||St. Clair – Superior||$36,450|
Home value data from zillow.com
Cheapest Home Insurance in Cleveland
Home Insurance Coverage Types in Cleveland
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
Mobile Home Form
Consider Additional Coverage
Basic homeowners policies have you covered from some of the worst natural disasters—snow, fires, even tornadoes. But home insurance coverage falls short when it comes to water damage. While your policy likely protects you from damages caused by accidental pipe bursts or suddenly leaky appliances, your home insurance won’t pay to repair flood damage.
Cleveland lies along Lake Erie, and the Cuyahoga River runs through the city, leaving certain areas at risk for flood damage. The only way to cover your property in the event of a flood is with an additional flood insurance policy.
Most Cleveland communities participate in the Federal Emergency Management Agency’s National Flood Insurance Program, which offers affordable flood insurance to homeowners in high-risk areas, so you can purchase a policy through the NFIP or your insurer. Even if your home isn’t in a FEMA-designated floodplain, having flood insurance will help repair your home and replace any damaged personal belongings if flash floods or rising water levels wreak havoc on your home.
Having trouble securing coverage?
There’s a laundry list of reasons why insurance companies won’t cover certain homes. Whether your home is in a high-risk neighborhood, you own an old home, or you’ve had to file multiple insurance claims in the past, you can still obtain the property coverage you need even if various private insurers have turned you down.
The Ohio FAIR Plan helps cover homeowners who can’t secure standard insurance coverage. There are still certain requirements to qualify for FAIR Plan policies, and your coverage options are limited compared to private insurers’ policies, but this is a great last-resort option for homeowners struggling to protect their homes. You can check out your coverage options on the Ohio FAIR Plan website or talk to a local insurance agent to discuss obtaining a FAIR Plan policy.
Still worried about your coverage? Check out Insurify’s answers to Cleveland homeowners’ most frequently asked coverage questions.
Frequently Asked Questions - Cleveland Homeowners Insurance
Will my home insurance in Cleveland, Ohio, replace my stolen belongings?
Your insurance reimbursement after theft or vandalism depends on the type of policy you have. Most policies offer actual cash value coverage, meaning they only pay to replace your items at their condition prior to being stolen (known as the item’s depreciated value). To ensure that your policy will completely cover your home and personal belongings, you’ll need a policy with replacement cost coverage.
Should I add tornado insurance to my Cleveland home insurance policy?
Cleveland has experienced a few tornadoes, but your home insurance should cover any damages they cause, so you don’t need to add tornado coverage to your policy. Talk to your insurance agent about your wind and hail options if tornadoes are excluded from your coverage.
How can I save on home insurance in Cleveland?
Many insurance companies offer discounts for homes with security systems, fire alarm systems, and even deadbolt locks. If you also need car insurance or other insurance services, ask your agent if you could save on your premiums by bundling your home and auto insurance policies. Home improvements can also help reduce your premiums but will cost you a bit more in the short term.
Conclusion: How to Find the Cheapest Home Insurance in Cleveland
If you’re looking to buy a home in the Buckeye State, Cleveland is the perfect place to set up shop. Compare Cleveland home insurance policies with Insurify so you can stop worrying about your home and get back to exploring your city in no time.
Use Insurify’s home insurance comparison for your property in Cleveland.
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