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Ohio Homeowners Insurance Quotes - Best and Cheapest (2022)
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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|
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.
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 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 prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
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.
|City||Median Home Price|
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:
Broad form homeowners insurance policies include all basic form coverage, plus:
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 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.
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.
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.
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 Company||Average Annual Premium|
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 Company||Average Annual Premium|
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.
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.
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.