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Cleveland, OH Homeowners Insurance Quotes (2023)
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Cleveland, OH Homeowners Insurance
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.
Cheapest Home Insurance Companies in Cleveland
For homeowners in Cleveland, 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 Cleveland. The following are the best insurance rates from carriers that offer homeowners insurance in Cleveland.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| American Family | $941 |
| Westfield | $1,122 |
| Allstate | $1,198 |
| USAA | $1,204 |
| Nationwide | $1,315 |
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.
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Cheapest Home Insurance in Cleveland by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
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 The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in Cleveland The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $79,166 | $2,242 |
Average Annual Home Insurance Premium in Cleveland by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
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.
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:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form home 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,
- sudden and accidental damage.
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.
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 policy.
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 that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Ohio city level guides, check out these below.
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.
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.
Frequently Asked Questions
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.
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.
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.
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