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Ohio home insurance

By Posted : July 3, 2020

Ohio

Insurance.com’s team of experts reviewed Ohio home insurance companies to find the best ones, and also analyzed rates to identify the average homeowners insurance cost for various coverage levels, ZIP codes and major cities. You’ll have all the information you need to make confident choices when deciding what coverage to buy to protect your home and belongings in the Buckeye State.

Here we provide information on:

What is the average home insurance cost in Ohio?

The average home insurance cost in Ohio is $2,107. That puts it in the middle of the pack, compared to the average rates for homeowners insurance by state. Ohio is the 24th least expensive state in the country for home insurance. Its average cost is $198, or 9%, less than the national average of $2,305, for the coverage level of:

  • $300,000 dwelling coverage
  • $1,000 deductible
  • $300,000 liability

Best home insurance companies in Ohio

The homeowners insurance company with the cheapest rates isn’t necessarily the best. Other factors to consider are customer service and claims processing. Insurance.com’s 2020 Best Home Insurance Companies report ranks major insurers on feedback from 3,700 customers. They are asked about the value for the price, customer service, claims service and if they’d recommend the company.

Here are how home insurance companies in Ohio ranked on the survey. Scores are out of 100.

RankingCompanyScore
1Allstate91.88
2USAA89.88
3Chubb (ACE INA Group / Ace Limited)89.7
4Nationwide88.92
5Esurance88.55
6Progressive85.82
7Farmers85.25
8Erie84.57
9Liberty Mutual84.55
10State Farm84.5
11Travelers83.91
12Safeco83.29
13American Family81.55
14AIG (American International Group)81.51
15Hartford80.44

Homeowners insurance in Ohio: How it works and How much you need

Before we dive into the other research on costs and companies, you need to know what you’re buying and why, and how much you need.  So, let's talk about the basic components of home insurance, and how much to get to make sure you’re not underinsured. A home insurance policy includes coverage for:

  • Dwelling
  • Liability
  • Medical payments

Policies also usually have a set percentage of your dwelling coverage for:

  • Other structures – 10%
  • Personal property – 50%
  • Loss of use – 20%

Liability insurance applies to incidents in which you’re at fault and the result is that a guest in your home or on your property is injured. It covers medical expenses, as well as damage caused to neighbors’ property. Personal liability also covers legal fees if you are sued, as well as any resulting judgments from a lawsuit, up to your policy limits.

Most home insurance policies come with $100,000 in personal liability insurance but this is rarely enough coverage. The cost to defend a lawsuit or to pay for medical expenses for a serious injury can easily exceed that amount. Most experts recommend upping your limits to at least $300,000.

Medical payments also pays for injuries to guests in your home but differs from liability in that it applies to injuries regardless of who is at fault. It is for minor incidents as it comes with much lower coverage limits than liability insurance. Medical payments coverage is typically for $1,000 or $5,000.

Dwelling coverage pays to repair your home. When buying home insurance, you should insure your home based on its replacement cost. That’s the amount you need to rebuild it if damaged or destroyed, and not its market value, which is what you could sell your home for in its current condition. Replacement cost offers more protection because the cost of building a home often exceeds its market value.

When shopping for a policy, you will have to choose a “dwelling coverage” amount. You should select a dwelling coverage limit that best matches the cost to repair damage to your home or rebuild it completely at equal quality — at current prices. You can calculate your replacement cost by using online calculators or hiring an appraiser to give you a replacement cost valuation or by doing it yourself.

How much is homeowners insurance in Ohio by coverage level?

Now that you know how different components of a policy work to protect you, here we show the average cost of Ohio homeowners insurance for 10 coverage levels, based on a rate analysis by Insurance.com.

Enter a dwelling coverage of $200,000, $300,000, $400,000, $500,000 or $600,000 to see annual average rates based on a $1,000 deductible for each liability limit of $100,000, $300,000. As you can see, the difference in price between low liability limits and the recommended higher amount is negligible, less than $20.

Coverage SetAverage rate
$200,000 with $100,000 Liability$1,599
$200,000 with $300,000 Liability$1,612
$300,000 with $100,000 Liability$2,093
$300,000 with $300,000 Liability$2,107
$400,000 with $100,000 Liability$2,564
$400,000 with $300,000 Liability$2,496
$500,000 with $100,000 Liability$2,830
$500,000 with $300,000 Liability$2,843
$600,000 with $100,000 Liability$3,211
$600,000 with $300,000 Liability$3,220

Homeowners Insurance in Ohio comparison by ZIP code

By entering your ZIP code in the search box, you’ll see the average home insurance rate for that area, as well as the highest and lowest premium fielded from major insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest the highest rate and the lowest rate is how much you can save by shopping your policy.

Cheap homeowners insurance in Ohio: Rates by company

It's crucial to shop around for the best home insurance rate, because prices for the same coverage vary by hundreds of dollars. That means, if you don’t compare rates, you may wind up overpaying.

Many factors affect home insurance rates. Among others, the Insurance Information Institute (III) cites the following:

  • Your home's square footage
  • Building costs in your area, and your own home's construction, materials and features
  • Local crime rates
  • The likelihood of certain types of disasters, such as hurricanes

Each carrier uses its own method for deciding what you pay, which is why prices differ so much. Insurance.com Senior Consumer Analyst Penny Gusner suggests getting at least three price quotes when shopping for coverage, and says that doing so can save you up to hundreds of dollars annually.

Below are average home insurance rates, ranked by company for a policy with $300,000 in dwelling and liability coverage with a $1,000 deductible.

CompanyAverage rate
Cincinnati Insurance$1,323
USAA$1,521
Allstate$1,556
Garrison$1,642
Travelers$1,707
American Family$1,712
Nationwide$1,823
Erie$2,247
State Farm$2,371
Farmers$2,442
Safeco$2,725
Foremost$2,836
First Liberty$3,160
Liberty Mutual$3,160
Farmers Insurance of Columbus$3,671

Cost of Ohio homeowners insurance by city

Though you can see how much coverage costs for your neighborhood by using our average rates tool above, you may want to know the cost of a policy in your city, and how it compares to others. Below we provide rates for Cincinnati homeowners insurance, as well as Columbus and eight others in Ohio.

CityAverage rate$ Difference from state average
Cincinnati$2,102$5 less
Akron$1,595$512 less
Canton$2,000$107 less
Cleveland$2,025$82 less
Columbus$2,077$30 less
Dayton$2,200$93 more
Toledo$2,236$129 more
Youngstown$2,235$128 more

Ohio home insurance discounts

There are several ways to reduce your Ohio home insurance costs. Many insurers will lower your bill if you purchase more than one type of insurance policy from them. This process – known as "bundling" – can cut your costs by up to 19%, on average, according to Insurance.com’s discount data analysis.

You can also cut your costs by making your home more disaster-resistant. Installing hurricane glass or accordion shutters might net you a discount.

Other possible home insurance discounts include:

  • Installing smoke detectors, a burglar alarm or dead-bolt locks -- 5% each
  • Installing a sprinkler system, and a fire and burglar alarm -- 15% to 20% percent
  • Loyalty discounts – about 4%  on average, after three to five years, and  6% for six years or more

Ohio home insurance laws and information

Flood insurance

Flood insurance is not part of a normal home insurance policy. Instead, you need to buy a separate home insurance policy through the National Flood Insurance Program (NFIP) or an insurer that works with NFIP.

Flood insurance rates are standard, so you don't have to shop around. You'll pay the same amount for flood insurance for your property regardless of company.

You might think that you don't need flood insurance because you don't leave near a major river and you're not in a flood zone. Your home may still be at risk.

The Federal Emergency Management Agency estimates that the average home insurance policy costs about $700. The exact price depends on your home's risk, the location, type of coverage and deductible. Depending on your risk and factors, you may find a policy less than $200.

If you want flood insurance, you will need to have it for 30 days before it takes effect. This means you can't wait until potential flooding is on the way to take out a policy.

Earthquake insurance

Earthquakes are not usually synonymous with the Buckeye State. In fact, a major quake hasn't hit Ohio in more than a century.

Ohio does get hit by smaller earthquakes though. Most home insurance companies serving Ohio offer earthquake insurance.

Premiums are low, but the earthquake deductible ranges between 2% and 5%. That means you'd have to pay that percentage before the insurer pays for the rest of the damage.

The Ohio Department of Insurance said brick and masonry homes are more likely to get damaged during a quake, so you'll have to pay more for covering those types of homes than a frame house.

Protecting your home in the winter

Ohio winters are rough and your home may take the brunt of it. Winter is a common time when Ohio homeowners need to file a claim.

Winter-time problems that your home insurance covers include:

  • Roof damage and collapse
  • Ice dams
  • Water damage from burst pipes
  • Burner blowbacks
  • Damage caused by animals

Though insurance companies will likely help you repair damage from the events above, they might think differently if it's an ongoing trend. Insurers expect you to correct problems. So if you have a leaky roof, they presume you will repair it and not file more claims in a year.

If you don't correct an ongoing problem, they will likely increase your rates and may even drop you. Insurance companies don't like taking on risk. If you file too many claims, an insurer will feel you're too risky and look to offset that risk either by increasing rates or not renewing your policy.

What if no insurer will cover me?

If you can't find home insurance, the Ohio FAIR Plan Underwriting Association will help you. But make sure it's the last resort.

The FAIR Plan is similar to any other home insurance policy. A FAIR Plan covers you for fire, vandalism and other damages.

The FAIR Plan may cover your home when no one else will, but it's not a guarantee. The association will inspect your home to determine whether you're eligible for overage.

One word of warning: FAIR Plans usually cost a lot more than standard home insurance, so make sure you do all you can to get a plan through a regular home insurance company before inquiring about a FAIR Plan.

How to file a home insurance claim

There comes the point in every homeowners' life when you have to file a claim. Your house may have caught fire, your burner may have filled your home with smoke or a tree may have crashed through your roof. Whatever the case, you need to take similar steps to file a claim.

First, notify your insurer as soon as you can. If the home is damaged, make temporary repairs that protect against further damage. For instance, if there's a hole in your roof, patch your roof, but don't completely redo the roof.

Keep all damaged property so the insurance adjuster can review. Also, take photos of the damage and write down what happened, so you're prepared when you need to offer that detail to your insurance company.

An insurance adjuster will visit the property and check out the damage.

How to file a complaint

If you need to file a complaint, contact the Ohio Department of Insurance Consumer Services Division at 1-800-686- 1526. A representative will discuss your insurance rights and how to file a complaint. You can also find out more on the Department of Insurance Complaint Center.

Before you contact the state, make sure you have the insurance company's name, policy number, claim number and any other documents, such as letters and photos. The state representative may ask questions about that information, so it's important you're prepared and don't have to call back.