This article will list the 10 best home insurance in Ohio.
Home insurance is a must for any homeowner in Ohio. The Buckeye State has the most natural disasters of any state, and tornadoes are one of the worst!
Your home could be destroyed at any time by nature, so it’s best to protect what you have right now.
In Ohio, it’s essential to have home insurance.
Table of Contents
Our Pick’s for Best Home Insurance in Ohio
| Company Name | Financial Strength | Learn More |
|---|---|---|
| Allstate | A+ | Compare Quotes » |
| American Family | A | Compare Quotes » |
| USAA | A++ | Compare Quotes » |
It protects your property from damages and disasters that may happen at any time. It’s a pretty good deal, especially if you’re renting or don’t own a home yet!
The Buckeye State has the most natural disasters of any state, and tornadoes are one of the worst!
Your home could be destroyed at any time by nature, so it’s best to protect what you have right now.
In this blog post, I’ll be discussing what makes these 10 companies great options for homeowners who live in Ohio and how they compare with other top-rated insurance providers in the state.
What do you think? 🤔
Do you have home insurance? 🏡
If not, let’s look at the 10 best home insurance companies in Ohio.
Allstate Insurance Company
This is a good option, especially if you own an older home with historical value, as it would be considered a high-risk or “special” property.
American Family Insurance Company
This insurer is based out of Madison, Wisconsin, but has many offices in Ohio helping its customers.
Cincinnati Insurance Company
Founded in 1872, this company has grown exponentially over the years to become one of the best companies for Ohio homeowners today.
Erie Insurance Company
If you live in Ohio, it’s likely your home is sitting on top of some type of natural gas deposit. Erie Insurance Company offers its customers unique coverage options for their homes.
Liberty Mutual
Known as the most popular insurance company last year, has made many people happy with its exemplary customer service and affordable rates.
Nationwide Mutual
If you’re thinking of buying a home in Ohio, now is the time to purchase coverage from this company as it has been rated as one of the best for those looking to buy their first house!
Shelter Insurance Company
This company offers excellent rates on homes that are under $100,000.
State Farm
This is an excellent option for those who live in rural parts of the state like Steubenville, Pomeroy, and Cambridge as it has many local offices throughout Ohio where you can file claims and get advice from qualified insurance professionals.
USAA Insurance Company
This company stands out because it caters to military members and their families.
If you’re a member of the armed forces, check this company out for your home insurance needs!
Viking Insurance Company
Another good option for rural areas is Viking, which has offices in Tiffin, Ohio, among other places. This company can insure homes with many acres of land because it’s willing to insure homes with septic systems and wells (which most other insurers won’t).
What is the average cost of home insurance in Ohio?
According to my research, the average cost of homeowner’s insurance in Ohio is $1,084.
This is about 24% lower than the national average.
What are some factors that affect my home insurance rate?
Several factors can determine what you pay for your homeowner’s policy, including location, fire protection, risk of theft and crime rates in the area, replacement cost vs. actual cash value, level of coverage, deductible, and the age of the building.
What are some typical home insurance discounts?
Typical discounts for homeowners insurance include bundle policies, multi-policy discounts (for bundling auto and home insurance), security system, fire department membership, multiple policy (home and auto) discount, safe driving record, smoke detectors installation, and many more!
Which is the best homeowners insurance?
That depends on your needs and how much you can spend.
Homeowners Insurance Ohio: What You Need to Know?
Are you looking for homeowners insurance?
If so, then this article is going to help you get the best one possible.
There are hundreds of companies out there that offer a large number of different types of policies.
Unfortunately, not all of them are going to be the best option for you.
Instead of just choosing one at random that seems like it would work, read over this article first, so you know how to find the top 10 homeowners insurance Ohio companies.
This is a crucial step. If you don’t do your research beforehand, there is no way to know how much various companies are charging.
You also won’t say anything about their policies either.
If you don’t take the time to learn about these things, it will be almost impossible for you to find a policy that will work well for your situation.
That’s why reading this article is so important!
If possible, you should find a policy that will cover the total replacement cost of your home and belongings.
This will make it, so you don’t have to pay any additional money out of pocket if something happens.
Look for comprehensive coverage as well as liability protection.
If something does go wrong, this could help you avoid paying thousands of dollars in medical bills.
We also advise all of our readers to try and find a policy that has no deductible.
This means you don’t have to pay anything out of pocket for expensive problems like broken windows or other similar issues.
If you do this, you will be able to save thousands of dollars if something happens to your home.
Also, a brilliant idea to look for a policy from an insurance company that has been around for decades.
This ensures they have plenty of experience, and you can be sure your needs will be covered well.
How does Ohio rank in terms of homeowners insurance?
According to the most recent data from the National Association of Insurance Commissioners, Ohio ranks 32nd in homeowners insurance premium per capita.
The nation’s total annual homeowners insurance premium has dropped by 5%.
In 2012, it represented $161.91 billion; however, this is still 7% higher than in 2011 and 51% higher than in 2002.
The number of policies in force has increased. The homeowner’s population is now 120 million, representing 64% of all households in the United States.
The average claim amount also dropped by 4.8%. It currently stands at $40,200, compared to $41,300 last year.
Claims frequency (the number of claims filed per 100 insured homes) was 2.07%, the same as last year, while claim severity (the size of claims) has increased by 4% to $25,600.
How much is monthly homeowners insurance in Ohio?
The average homeowner’s insurance cost in Ohio is $85 a month.
This estimate is based on an analysis of 1471 prices and 794 different monthly premiums for homeowners insurance in the state, ranging from $19 to $215.
Who offers the best homeowners insurance rates in Ohio for a $200K home?
Nerdwallet has several tables of Ohio’s most popular home insurance rates based on location, coverage, and deductible.
You can also customize your quote to see what fits your needs and budget best.
Who offers the best homeowners insurance rates in Ohio for a $400K home?
Many factors go into determining the costs of homeowners insurance rates in Ohio.
The Citizens Property Insurance Corporation is an example of an organization that can provide you with information on what your company might offer you in terms of rates.
How do I purchase a homeowners insurance policy?
Purchasing homeowners insurance is the only way to protect your home and belongings in case of an accident, theft, or disaster.
The process of buying a policy can seem complicated, but by following these four simple steps, you can easily find the best Ohio homeowner’s insurance for your needs.
Step 1: Compare different types of policies- Check out all your options for homeowners insurance before you buy. You can either do this by getting quotes from other companies online or over the phone or by arranging appointments with local insurance brokers. Either way, taking advantage of these services will help you find the best deal on Ohio homeowners insurance. If you are looking for an additional benefit to protect yourself while away from home, consider getting a renters insurance policy. This inexpensive form of coverage can protect your belongings when you travel for extended periods or if your apartment is burglarized.
Step 2: Check for quotes by contacting various companies directly or through brokerage sites, such as InsuranceQuotes.com- Most people find that buying homeowners insurance online is the easiest method. You can get multiple quotes from different insurance providers in Ohio without ever leaving your house. Once you have a list of at least three potential companies, call them and ask for a quote on a specific plan. Compare their prices to find the best deal. If you are shopping at a brick-and-mortar location, take advantage of all the different options available to you. Many insurance brokers provide free quotes on Ohio homeowners insurance, so be sure to ask for any price quotes before you agree to buy.
Step 3: Decide how many years you would like to ensure your home and what amount of coverage it will need- Before buying homeowners insurance in Ohio, think about where your home is located and how much it is worth. If your home would cost too much to replace in the event of a disaster, you’ll want to get additional coverage. Review the different options that insurance providers offer before making a final decision on Ohio homeowners insurance.
Step 4: Sign up with the insurance company that offers you the best price, then take out a policy when they contact you about it- It’s a good idea to get a homeowners insurance quote from at least three different companies, but only by the policy from one. This way, you have more control over your coverage and yearly premiums. Once you have decided which company to go with, call them back and take out the policy on your Ohio home.
Step 1: Compare different types of policies.
Step 2: Check for quotes by contacting various companies directly or through brokerage sites like InsuranceQuotes.com.
Step 3: Decide how many years you would like to ensure your home and what amount of coverage it will need.
Step 4: Sign up with the insurance company that offers you the best price, then take out a policy when they contact you about it.
It’s pretty easy!
It only takes four steps before you can feel confident in your decision to invest in Ohio homeowners insurance.
Why is the cost of my homeowner’s insurance so high?
Homeowner’s insurance premiums and deductibles rise and fall with the cost of natural disasters.
For example, a year ago, we were recovering from Irene, last winter we were recovering from Snowmageddon, and this winter, we had more snowstorms than ever before.
The same thing happens with wildfires out west – if there is a significant wildfire in California, homeowners insurance rates for homes near that fire will increase substantially because it dramatically increases the local risk of damage to homes.
This situation hasn’t really changed since Hurricane Katrina either – even though the hurricane came ashore over 10 years ago, hurricane risk remains high on the Gulf Coast as new rooftops and home construction has taken place in areas formerly at medium-high risk for flooding.
Some estimates suggest we may have just reached the peak in the number of homes at risk for flood, which means premiums are lower now than they will ever be again.
Of course, many other factors beyond natural disasters calculate risk for homeowners insurance rates.
Some areas have higher theft rates or vandalism, others have more air quality problems with smog in the air, while some places have more car accidents.
Regardless of the specific reasons for increased premiums, it can be difficult to afford adequate coverage based on your own budget when you live in an area with high homeowners insurance rates.
For this reason, we will start with Ohio cities with the highest median household income levels to balance out high homeowners insurance rates.
Top 10 Ohio Cities with Highest Median Household Income Levels
Median household income is the amount that divides the income distribution into two equal groups, half having incomes above that amount and half having incomes below that amount.
As you will see below in our list of high homeowners insurance cities in Ohio, places with the highest median family income tend to have nearly the same number of cities with the highest homeowners insurance rates.
This is because median family income correlates directly to personal disposable income – people in Ohio make a lot of money each year, that’s a lot of money they can spend on their homes, and it increases home values across the state.
- Upper Arlington- $107,274
- Bexley- $100,777
- Shaker Heights- $98,571
- Granville- $97,340
- Orange Village- $96,926
- New Albany- $95,749
- Northbrook/Glenwillow- $93,579
- Pepper Pike- $91,749
- Indian Hill- $89,984
- Hudson- $89,361
How much is homeowners insurance?
The price of homeowners insurance varies depending on the age and location of your home and other risks in your area, such as previous homeowner claims.
It is essential to learn how to compare quotes from different companies and determine which companies offer insurance policies with limits that will cover your needs.
When it comes to getting an affordable home insurance policy, make sure to compare quotes from multiple top insurance carriers to get the best rates.
What is homeowners insurance?
Homeowner’s insurance protects the people living in the home from property damage caused by fire, flood, and other natural disasters.
Homeownership carries a higher risk of property loss than renting because renters do not entirely take responsibility for keeping their buildings habitable.
Some homeowners may opt to purchase additional policies such as flood insurance if they live in a flood zone or earthquake insurance if they live in an area with high earthquakes.
Insurance is essential for homes that have been modified from their original layout or have unique features that could lead to higher repair costs, such as porches that cantilever too far over an adjacent road.
Top 10 states with the highest homeowners insurance premiums per capita:
- Louisiana – $2,692
- Mississippi – $2,267
- Texas – $2,176
- Oklahoma – $1,973
- Kansas – $1,878
- Missouri – $1,798
- Florida – $1,714
- Arkansas – $1,657
- Alabama – $1,644
- South Carolina – $1,542
Top 10 states with the highest number of homeowners insurance policies in force:
- Texas – 8 million
- California – 6.25 million
- Florida – 5.45 million
- New York – 3.6 million
- Georgia – 2.95 million
- Illinois – 2.9 million
- North Carolina – 2.85 million
- Ohio – 2.65 million
- Pennsylvania-2.64 million
- Michigan – 2.45 million
Top 10 states with the highest homeowners insurance premiums per $100 of insurable value:
- Texas – $4.24
- California – $3.80
- Florida – $3.68
- New York – $3.54
- Idaho – $3.26
- Michigan – $3.23
- Massachusetts – $3.22
- North Carolina – $3.16
- Colorado – $3.15
- Maine- $2.99
Top 10 states with the highest number of homeowners insurance claims filed:
- Texas – 383,000 claims
- California – 349,000 claims
- Florida – 278,000 claims
- Illinois – 246,000 claims
- New York – 233,000 claims
- Pennsylvania – 203,000 claims
- Ohio – 191,000 claims
- Michigan – 169,000 claims
- Georgia – 162,000 claims
- North Carolina-155,000 claims
Why Do I Need Homeowners Insurance?
Homeowners insurance is a policy that helps protect you from financial loss if you’re unable to live in your house due to a fire, flood, or other disasters.
Homeowner’s insurance can also provide coverage for theft of personal property and damage from earthquakes and hurricanes.
Homeowners insurance pays for expenses that aren’t covered by your regular homeowner’s policy – such as repairs after a storm when the water has been leaking from pipes in the roof.
Many think homeowners insurance only reimburses for things like their home being damaged during a storm because it sprang a pipe or had roof hurt due to high winds.
In fact, your insurer may reimburse you for all sorts of non-natural disasters:
Death because someone broke in and poisoned the family dog; vandalism; theft; the fire started while you’re away on vacation.
Homeowner’s insurance can protect you from both financial and physical loss.
Some policies also provide liability protection (no matter whose fault the accident is) if someone is injured in your house or on your property – such as a guest who trips and falls.
Generally speaking, homeowners insurance reimburses you for the current market value of what’s damaged or stolen, minus your deductible.
Typical Homeowners Insurance Coverage
Replacement cost (what it would cost to rebuild new) instead of actual cash value, meaning you can get back whatever it costs to replace your belongings with modern equivalents, rather than what they’re worth now on Craigslist.
