Jamie is a meticulous researcher who has published 2,000+ personal finance articles. Her expertise is trusted by major brands like Bankrate and Rocket Mortgage.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
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The average cost of home insurance in Ohio is $1,605 annually for a policy with $300,000 in dwelling coverage and a $1,000 deductible. This is well below the national average of $2,532 for a homeowners policy with the same coverage.
Even with relatively low rates, comparing quotes from several different companies will help you find the best homeowners insurance in Ohio for your situation.
Quick Facts
Farmers, Buckeye Insurance, Ohio Mutual Insurance Group, and Grange Mutual are some of the cheapest home insurers in Ohio.
Ohio is the seventh least-expensive state for buying homeowners insurance, according to the Insurance Information Institute.[1]
Ohio residents should consider purchasing protection from damages caused by flooding, tornadoes, and mine subsidence.
Best home insurance companies in Ohio
When it comes to home insurance companies, Ohio homeowners have a lot of options to pick from. The following table outlines four excellent companies to consider, though the best home insurance company for you will depend on your individual situation and needs.
Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
Buckeye Insurance Group
N/A
$703
Cheapest rates
Ohio Mutual Insurance Group
N/A
$723
New homes
American Family
8.6
$944
Customer satisfaction
State Farm
8.2
$1,398
Customized coverage
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
Customer satisfaction: To calculate this score, Insurify analyzed more than 55,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
Cheapest rates: Buckeye Insurance Group
Buckeye Insurance Group offers the cheapest overall rates for Ohio homeowners. Ohio is vulnerable to extreme weather and saw 35 tornadoes touch down in the first four months of 2024. Tornadoes can damage your personal property, and Buckeye Insurance provides dwelling coverage, which guards the structure of your home if it’s damaged in severe weather.
Pros
Local agents can help you find the right coverage for your home
Service-line and equipment breakdown coverage
Cons
AM Best financial strength rating of B (Fair) is lower than other insurers
Online quotes not available
Best insurer for new homes: Ohio Mutual Insurance Group
Ohio Mutual is another affordable home insurance option, and the company is a good choice for anyone looking to buy a new home. If you’re building your home, your policy will protect you from any theft of building materials. You can also receive a discount for buying a new home under construction, a new roof, or if your home is less than 20 years old.
Pros
A+ rating from the Better Business Bureau
Discounts for teachers, veterans, and first responders
Cons
Online rate quotes not available
Mobile app not as robust as competing insurers’
Best insurer for customer satisfaction: American Family
customer satisfactionAmerican Family
Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.6/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
638
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$122/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$170/mo
American Family offers customizable homeowners insurance and is one of the more affordable options for Ohio homeowners.
AmFam offers discounts if your home is less than 15 years old or if you’ve renovated any of your home’s major systems in the last 15 years. If you’re age 18–30 and your parents have an active home or auto insurance policy with American Family, you could earn a generational discount.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.2/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
643
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$140/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$188/mo
State Farm is the best choice for homeowners looking for customized home insurance solutions. The company has a large network of local agents in Ohio who can help you determine your coverage needs. For example, an agent can help you determine the replacement cost of your home so State Farm will reimburse you for the entire amount, regardless of the current market value.
Pros
Additional coverage available for your home’s structure
Wide variety of available discounts
Cons
Rates are higher for Ohio homeowners than some other insurers
Must complete enrollment with a State Farm agent
Cheapest home insurance in Ohio
The cost of home insurance in Ohio will vary depending on the company you choose. While all insurance companies look at similar criteria, each evaluates these factors a bit differently.
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
The average cost of homeowners insurance in Ohio is $1,605 annually for a $300,000 policy with a $1,000 deductible, but many different factors affect the price of insurance. For example, the age of your home and the type of construction can affect your costs.
Homeowners who purchase newer homes tend to file fewer claims, so if your home is less than 15 to 20 years old, you may qualify for a discount.
Frame houses tend to cost more than brick homes, so this could also raise your insurance premiums.[2]
Good to Know
The more coverage you purchase, the more you’ll pay for insurance. But this means your home will be better protected if it’s damaged in a natural disaster or fire.
Cost of homeowners insurance by dwelling coverage amount
Dwelling coverage pays for the structure of your home — not the contents inside or the land underneath it. It pays to repair or replace the structure of your home if it’s damaged in a fire, flood, or natural disaster. Higher coverage amounts will result in higher premiums.
The table below shows how much Ohio homeowners pay, on average, based on their dwelling coverage limit with a $1,000 deductible.
The below rates are estimated rates current as of: Tuesday, August 19 at 12:00 PM PDT.
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
A deductible is the out-of-pocket expense you’ll pay when filing a home insurance claim for a covered loss. Once you’ve paid your deductible, your insurance company will pay out on the remainder of the claim.
A higher deductible can lower your monthly premiums since you’re sharing more risk with the insurance company. Just make sure you can afford to pay the deductible if the unexpected does happen.
Here’s how the deductible amount you choose can affect your yearly home insurance premium in Ohio. Rates shown below are for $300,000 in dwelling coverage.
Deductible Amount
Average Annual Premium
$500
$1,765
$1,000
$1,605
How to get cheap homeowners insurance in Ohio
Here are five ways Ohio homeowners can save on insurance:[3]
Bundle your policies. Most insurance companies offer discounts for buying multiple insurance policies. For example, you could receive a discount for bundling your home and auto insurance policies or for bundling your homeowners and life insurance together.
Use safety features. Buying home safety features may require an up-front investment, but you may be able to save money on homeowners insurance. For example, many insurance companies will give you a discount for installing a sprinkler system or an alarm system.
Review your policy annually. It’s a good idea to review your policy annually to ensure your coverage is still relevant. For example, if you’ve recently downsized or gotten rid of some expensive items, you may be paying for more coverage than you actually need.
Take advantage of discounts. Most insurance companies offer discounts to help you save money on your policy. For example, you could receive a discount for working in a certain profession, being a long-term customer, or maintaining a good credit score.
Shop around. Get home insurance quotes from at least three different companies and compare the different offers. Shopping around gives you more leverage and helps you find the best rates and policy for your situation.
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How much homeowners insurance do you need in Ohio?
If you take out a mortgage on your home, your lender will require you to purchase homeowners insurance. You’ll need to have enough coverage to pay the outstanding loan balance if your home is damaged or destroyed.
Many insurance companies will require you to insure your home for at least 80% of the replacement cost. If your insurance coverage is below 80%, your insurer will only pay for a portion of the repairs, and your out-of-pocket expenses will be high.
The right homeowners insurance policy will cover property damage, replacement cost coverage, and loss-of-use coverage. It’s also important to think about liability protection when you’re looking for homeowners insurance.
If someone seriously injures themselves on your property, that person could sue you for damages. If you have liability coverage, your insurance company will work out a settlement with the injured party on your behalf.[4]
What are some of the biggest risks when owning a home in Ohio?
When you’re purchasing homeowners insurance, it’s important to consider the common perils you face based on where you live. Here are some common perils Ohio residents experience:
Floods
Flooding is the most frequently occurring natural disaster in Ohio.[5] Unfortunately, standard homeowners insurance policies don’t cover flood damage. You’ll have to purchase a separate policy from the National Flood Insurance Program to protect your home from floods. Some private insurers also sell flood insurance.
Tornadoes
Ohio isn’t one of the top states at risk for tornadoes, but it does rank in the top 20% for fatalities, injuries, and damages resulting from tornadoes.[6] Most standard home insurance policies cover tornado damage caused by things such as high winds, rain, and trees.
Mine subsidence
Ohio has more than 4,000 abandoned coal mines, according to the Ohio Department of Insurance. If your home was built within close proximity to one of these mines, it’s in danger of sinking, which can cause damage to the walls and foundation. Standard homeowners insurance doesn’t cover mine subsidence, which is why the Ohio Legislature enacted the Ohio Mine Subsidence Insurance Fund. Residents of certain Ohio counties can purchase protection, which pays up to $300,000 or the home’s insured value, whichever is less.[4]
Ohio homeowners insurance FAQs
The additional information below may help if you’re shopping for home insurance coverage in the Buckeye State.
How much is home insurance in Ohio?
Home insurance in Ohio costs $1,605 per year for $300,000 in dwelling coverage with a $1,000 deductible, according to Insurify data. That average increases to $1,765 per year with the same coverage level and a lower deductible of $500.
Which company has the cheapest homeowners insurance in Ohio?
Farmers has the cheapest homeowners insurance in Ohio, with average premiums of $79 per month for $300,000 in dwelling coverage.
Does Ohio require homeowners insurance?
No. Homeowners insurance isn’t required by law, but your lender will require you to have it if you have a mortgage on your home.
But having insurance on your home is important even if you don’t have a mortgage. If something damaged your home, or you needed to rebuild, you’d be responsible for paying the costs out of pocket. Depending on the extent of the repairs, this could be very expensive without the protection of a home insurance policy.
What is the most common type of homeowners insurance?
An HO-3 policy, or special form policy, is the most common type of homeowners insurance. It covers your home’s structure, personal belongings, and offers liability protection.
Methodology
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
Dwelling coverage: $300,000
Deductible: $1,000
Personal property limit: $25,000
Liability limit: $300,000
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.
Jamie has been a contributor at Insurify since October 2022.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
University of Chicago graduate with statistics degree
Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.
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American Family
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