Homeowner’s insurance protects more than the buildings where we live. The right policy not only covers damages to your property, but also covers liability, and even helps owners save on car insurance. MoneyGeek compiled a list of the best insurance companies for Ohio homeowners based on customer satisfaction, financial stability and affordability to help you compare prices and determine the right coverage for your situation — including options for those with poor credit, pools and high-value homes.
The Best Homeowners Insurance Companies and Cheapest Quotes in Ohio for 2022
The 5 Best Homeowners Insurance Companies in Ohio
Various factors affect how much your homeowners insurance in Ohio will be. You have to consider the policy’s cost and make sure that the coverage you choose fits your needs. Comparing personalized quotes from multiple providers can help you find the best homeowners insurance in Ohio.
To help you find the most appropriate policy for your property, MoneyGeek ranked the top five insurance providers in Ohio based on affordability, J.D. Power’s customer satisfaction scores and AM Best’s financial stability rating.
Active military members, veterans and their families can get cheap home insurance in Ohio from USAA. The company offers affordable policies. You can get discounts by bundling various coverage options. USAA also has a mobile app that gives policyholders access to various services.
Travelers allows policyholders to bundle insurance plans to save money. You can benefit from additional discounts if you bundle your Travelers homeowners and car insurance policies. You can choose standard coverage or add optional inclusions for comprehensive coverage. Additionally, you can access various transactions through the online bills payment option, online claims application tool, rate calculator, and Travelers mobile app.Read MoneyGeek's Travelers home Insurance Review
Ohio residents can get extensive coverage options no matter what type of home you have. Erie policies can cover apartments, traditional homes, manufactured houses and condos. You can include coverage for your valuables and for living expenses for temporary relocation. Erie policyholders can pay and make claims online. You can also access various services through Erie’s mobile app.Read MoneyGeek's Erie home Insurance Review
State Farm allows Ohio residents to access various features for convenient transactions through a mobile app, a rate calculator and a household inventory tool. You can do your bills payment and claims application online or access the replacement cost estimator for a more accurate quote. You can get a standard policy and add optional coverages based on your needs. The insurance carrier also offers discounts.Read MoneyGeek's State Farm home Insurance Review
Farmers policyholders in Ohio are free to customize their plans. You can choose a standard policy for basic coverage or get comprehensive coverage with higher personal property limits and adjusted replacement payments. Farmers policyholders can access various services through the online rate calculator, household inventory tool, mobile app, online bills payment and online claims application.Read MoneyGeek's Farmers home Insurance Review
What Is the Average Cost of Homeowners Insurance in Ohio?
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The average insurance rate for an Ohio home with an average dwelling coverage baseline amount of $100,000 is $938, which is 55.4% ($1,165) cheaper than the $2,103 national average. Insurance carriers calculate Ohio homeowners insurance rates based on various risks associated with an individual along with area-related factors like crime rates, property values and weather conditions.
Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Ohio
To estimate homeowners insurance in Ohio, companies check area-related risks and look into your circumstances. They will consider your home’s dwelling value, its age, the roof’s quality, the property’s location, how far it is from a fire department, if you have a pool, whether you have an aggressive dog breed and the deductibles you choose.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Cheapest Homeowners Insurance Quotes in Ohio
The average annual premium for home insurance in Ohio is lower than the national average. So, finding cheap homeowners insurance in Ohio is easy. The most affordable option is Travelers. The average annual premium for a Travelers policy for baseline dwelling coverage is an average of $487, which is around 48% less than the state average.
Dwelling coverage is the feature of a homeowners insurance policy covering physical repairs for damages caused by covered risk factors like fire, vandalism, falling objects and weather-related incidents, among others. The average dwelling coverage amount for Ohio homes is $100,000. Compare homeowners insurance quotes to find the most accurate policy for your property.
Cheapest Homeowners Insurance by Dwelling Coverage
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Best Cheap Homeowners Insurance Companies for Expensive Homes
Owning a high-end residential home comes with different responsibilities and needs. To find the best home insurance in Ohio, compare personalized quotes from different carriers. Doing so will also help you find out if you are qualified for certain discounts.
MoneyGeek found that American Family may be the most affordable option for a $2 million home in Ohio. A policy with American Family may cost an average of $4,675 per year. Homeowners with a similar policy from Auto-Owners Insurance Co may pay an average annual premium of $61,234.
Cheapest Homeowners Insurance Companies for High-Value Homes
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Best Homeowners Insurance Companies if You Have a Pool
If you have a pool on your property, then your home insurance in Ohio will be different from a standard policy. For example, the cheapest company for pool homes with an average dwelling cost of $250,000 is Travelers. A policy with Travelers for an Ohio pool home may cost an average of $1,002 per year. Including liability coverage in your policy will provide additional protection against possible expenses if someone gets injured due to a pool accident.
Cheapest Homeowners Insurance for Pool Home
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Cheapest Home Insurance in Ohio if You Have Poor Credit
Your credit score also has an impact on how much your homeowners insurance in Ohio will cost. Generally, individuals who have poor credit get higher annual premiums. So, you may have to improve your credit score to get cheaper rates. You can start by paying off outstanding credit card debts and ensuring that your utilization rate remains below 30%.
There are home insurance policies in Ohio catering to individuals with poor credit. The cheapest option for Ohio homeowners with poor credit may be Travelers, which has an average annual premium of $1,211 for a dwelling coverage baseline amounting to $100,000.
Cheapest Homeowners Insurance for Poor Credit
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How to Get Homeowners Insurance Quotes in Ohio
Getting the best home insurance in Ohio requires you to provide certain information, such as your name, address and social security number. Insurance carriers may also ask for relevant information that they will use in calculating your annual premium. You may have to disclose the age of your home, its current value, the cost of all valuables inside it, the materials used, the type of home that you have, its current condition and the estimated cost in case you have to rebuild. You should also inform insurance companies if your home has other special features like energy-saving or home security systems because these will affect the cost of your home insurance.
Other Considerations for Homeowners Insurance in Ohio
Companies estimate homeowners insurance in Ohio by considering natural risks as well. For instance, your property may require additional coverage for certain hazardous weather conditions. Make sure you familiarize yourself about the natural disasters that regularly affect your area. By doing so, you can be ready for any possible emergency.
Insurance providers may also check the crime rate in your area. Data from the FBI showed that Ohio recorded 37,723 violent crimes and 254,496 property crimes in 2018. The state ranks 28th when it comes to the number of crime incidents.
Home value also affects the cost of annual premiums. Ohio ranks 45th in terms of home value, with an average cost of $150,374. It is among the most affordable states for homeowners in the United States.
Expert Advice on Home Insurance in Ohio
- How do regulations and laws in your state impact the amount or type of coverage a homeowner should buy?
- Are there any environmental factors homeowners should consider when selecting a home insurance plan in your state?
Associate Teaching Professor at Bowling Green State University, CIC, CRM, ARM, MBA
MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Ohio that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Ohio. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.
About the Author
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