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Ohio Homeowners Insurance Quotes - Best and Cheapest (2022)

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Insurify Staff

By: Insurify Staff

Last Updated February 25, 2022

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Ohio Average Cost of Homeowners Insurance Rates (2022)

According to 2021 rates, the average cost of homeowners insurance in Ohio is $1148 per year and $96 per month. Ohio homeowners insurance rates are $250 per year less then the national average and about 18% less annually. When compared to the other US states that makes the cost of homeowners insurance in Ohio the 31st most expensive in the country, based on 2021 data.

For shoppers, the best way to find a homeowners insurance policy in Ohio is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.

Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Ohio in minutes.

Ohio Average Homeowners Insurance Rates
Average Cost Per Month$96
Average Annual Premium$1148
State Rank (Most Expensive)31st

Cheapest Insurance Companies for Homeowners in Ohio (2022)

For homeowners in Ohio, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Ohio. The following are the best insurance rates from carriers that offer homeowners insurance in Ohio.

Cheapest CompaniesQuotes
American Family$941
Westfield$1,122
Allstate$1,198
USAA$1,204
Nationwide$1,315

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How to Get Affordable Home Insurance in Ohio

Buying a home may be one of the largest financial investments of your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investment.

The first step to protecting your property is choosing a homeowners insurance policy. Home insurance is not required by law but provides financial liability for your property and belongings from many natural disasters or theft. Different coverage is available based on your property type, location, and other factors.

Keep reading for a full guide on Ohio home insurance.

Homeowners Insurance Quotes in Ohio by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2021, the average home insurance premium in Ohio costs $2,242 annually, and the median home value is $144,200.

Ohio offers some of the lowest rates for home insurance. The following quotes outline the average cost of homeowners insurance in Ohio per year for various homeowners insurance companies. While these can help give you an idea of which insurance companies offer cheap homeowners insurance in Ohio, premiums change based on various factors, including the city you live in and the age, type, and quality of your home.

Keep reading for more information on homeowners insurance rates in Columbus, Cleveland, Cincinnati, and other cities in Ohio.

Average Annual Homeowners Insurance Premium in Ohio by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

American Family
$941
Westfield
$1,122
Allstate
$1,198
USAA
$1,204
Nationwide
$1,315
State Farm
$1,654
Travelers
$1,742
Grange
$1,939
Erie
$2,798
Farmers
$2,828
Encomass
$3,730

Home Insurance Rates in Ohio by City

So how much is homeowners insurance in Ohio? The short answer is, it depends. Like property costs, the cost of a home insurance policy will vary from city to city. Pricing is determined on ZIP code–specific variables such as the number of claims filed nearby, crime rates, property costs, and risk variables like natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on annual premiums.

Rates in Ohio are relatively low compared to the national average, but your insurance cost will depend on which town you live in.

Here are the most and least expensive Ohio ZIP codes in which to insure a home.

If you live in one of Ohio’s three Cs, your average homeowners insurance cost will be pretty close to the average cost of homeowners insurance in Ohio overall. These numbers still differ depending on the ZIP code, but for homeowners insurance in Columbus, Cleveland, or Cincinnati, premiums are still far cheaper than averages across the nation.

Akron and Dayton are great cities for cheap homeowners insurance in Ohio, while homeowners insurance in Toledo is more costly. These prices, paired with the living expenses related to city life, can add up quickly. Insurance agents often recommend bundling your homeowners policy and auto insurance policy to get the most savings and the best home insurance coverage.

The easiest way to get the cheapest homeowners insurance in Ohio with an insurance company that cares about customer satisfaction is to compare quotes using Insurify. You can see side-by-side prices for large corporations like Nationwide and local companies like the Cincinnati Insurance Company to find the best homeowners insurance policy for you.

CityMedian Home Price
Fisher Island$4,267,962
Coral Gables$3,603,721
Miami Beach$3,029,308
Jacksonville$152,300
Palm Coast$229,818
Cape Coral$232,309

What Does Home Insurance Cover in Ohio?

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

  • The simplest and least comprehensive type of homeowners insurance.

    Provides coverage for a handful of potential problems including:

    • Natural disasters (storms, fires, wind lightning, volcanic eruption)
    • Explosions
    • Theft
    • Damage from vehicles
    • Civil commotion
  • Broad form homeowners insurance policies include all basic form coverage, plus:

    • Protection from falling objects
    • Damage from the weight of ice, snow, or sleet
    • Freezing of household systems including HVAC and pipes
    • Sudden and accidental damage to pipes and other household systems from artificially generated electrical current
    • Accidental discharge or overflow of water or steam
    • HO-2 policies typically cover both dwelling protection and personal property.
    • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
    • The most common form of homeowners insurance is known as a “special form” policy.
    • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
    • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
    • Tenant’s form policies typically cover all the same dangers as HO-2 policies.
    • Tenant’s form policies typically cover all the same dangers as HO-2 policies.
    • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
    • Some HO-4 policies may also include loss of use coverage for the tenants.
    • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
    • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
    • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
    • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property such as jewelry and artwork.
    • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
    • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
    • These policies also include personal property and liability coverage and may include loss of use coverage.
    • If you own a mobile home or manufactured home, you likely have an HO-7 policy.
    • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
    • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
    • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
    • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
    • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
    • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

Additional Coverage in Ohio: Earthquake and Flood Insurance

When searching for the best home insurance, it’s important to note which coverage options home insurance companies provide—and what they don’t. Most policies cover natural disasters like storms, tornadoes, and fires. But many insurance providers don’t include earthquake or flood coverage.

Most insurance carriers offer earthquake coverage endorsements—or packages in addition to home insurance coverage—at low costs, according to the Ohio Department of Insurance. Deductibles on these policies are often high since the risk of earthquake damage is relatively low, and rates depend on your home’s build—whether brick, masonry, or frame.

Ohio natives know the dangers of the summer storm season, and flood insurance is another coverage that must be purchased in addition to a home insurance policy. First-time homeowners insurance buyers in Ohio often don’t realize that homes only qualify for flood insurance if their local government qualifies for the National Flood Insurance Program (NFIP). While the majority of local governments that fall within potential flood areas qualify, it is still up to Ohio residents to purchase flood insurance to make sure their home is adequately covered.

Ohio Mine Subsidence Coverage

Ohio is a state rich with history and, because of this, has over 4,000 old coal mines, almost all of which are susceptible to subsidence (or sinking). The state of Ohio created a fund to cover insuring homes near these abandoned mines.

The state mandates that this coverage is included in home insurance policies in 26 affected counties, including Mahoning, Trumbull, and Gallia counties. Homeowners in 11 other counties, including Erie, Lake, and Summit counties, qualify for optional mine subsidence coverage.

What to Know About the Ohio FAIR Plan

If you can’t find or qualify for Ohio homeowners insurance, you still have options. The state created the Ohio FAIR Plan to offer coverage for homes that private homeowners insurance companies won’t cover. You can apply for FAIR Plan coverage with any private insurance company.

The FAIR Plan provides a safety net if your credit isn’t great or you have an old home, but this comes at a price—literally. FAIR Plan coverage is often offered at much higher rates than average home insurance rates, and some homes and homeowners don’t qualify. This program is great for those who have exhausted all other options but is definitely designed for worst-case scenarios.

Special Home Insurance Situations in Ohio

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Ohio.

Cheapest Home Insurance for Houses Near the Coastline in Ohio

Beachside living is wonderful. But the risk a nearby coastline may present to your home could end up increasing your home insurnace rates. The closer you are to the shore, the more at risk your property is to flooding. This will be reflected in your homeowners insurance rate.

Insurance CompanyAverage Annual Premium
Buckeye$634
Cincinnati$886
Westfield$931
Nationwide$1,314

Cheapest Home Insurance for Houses With Swimming Pools in Ohio

Swimming pools fall under a category called attractive nuisances. Sure, they offer a fun way to cool off during warm summer months, but they also pose a major injury risk. For that reason, having a swimming pool in your yard could increase rates.

Insurance CompanyAverage Annual Premium
American Family$857
Travelers$1,446
Nationwide$1,170
Grange$1,513

Maintaing a home is stressful enough—don’t let insuring it get in the way of enjoying your new property.

How to Find the Cheapest Home Insurance in Ohio

There’s a lot to consider when searching for home insurance, but it doesn’t have to be hard to find cheap homeowners insurance in Ohio. With a little research and the right tools, you’ll be on your way to big savings.
Use Insurify to compare home insurance quotes for your property in Ohio.

Ohio Homeowners Insurance FAQ

  • Due to the increased commonality of natural disasters involving high winds and flooding, Ohio has higher-than-average home insurance premiums. When insurance companies take on increased risk, as they do in flood-prone areas of Ohio, they increase their chances of needing to pay-out customers when disaster strikes. There are ways, though, that you can cut home insurance costs, even if you live on the water. Different levels of liability insurance, including property insurance and personal liability levels may make Use Insurify to compare premiums in your area.

  • Yes, USAA insures homes in Ohio. The insurance company also provides earthquake coverage, dwelling coverage, and protection from identity theft for qualifying members at an additional fee.

  • Ohio homeowners insurance does not cover flooding. But when the summer storm season comes, you’ll want to be sure that your home is covered by purchasing flood insurance. The Ohio Department of Insurance recently recommended that all Ohio homeowners ensure their homes are covered for the potential damages associated with the storm season.

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Methodology

The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Insurify Staff
Insurify Staff

Content Specialist at Insurify

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