Cheapest Homeowners Insurance in Ohio (2024)

American Family Insurance offers the cheapest home insurance rates overall in Ohio. Whether it's your claims history, credit score, home materials, or deductibles, American Family Insurance stands out as the most cost-effective choice. If you own a high-value home, American Family Insurance also provides the most competitive rates, while Nationwide is the top pick for coverage on new homes. However, Auto-Owners is the most affordable option if you want to bundle your home and auto insurance.

For affordable home insurance in Ohio, check out American Family, providing the lowest rates for $100K in dwelling coverage at a mere $681 per year. Remember, home insurance premiums vary based on dwelling coverage. Noteworthy affordable options within Ohio include:

• Cheapest for $100,000: American Family at $681 per year
• Cheapest for $250,000: American Family at $1,065 per year
• Cheapest for $500,000: American Family at $1,654 per year

Get the best price comparison for cheap home insurance with MoneyGeek's table detailing how costs differ by dwelling coverage.

For residents in Ohio, the best approach to affordable home insurance is to check prices from various insurers. MoneyGeek’s home insurance calculator offers an efficient method to obtain Ohio quotes, eliminating the need for personal details at the beginning.

With an annual premium of just $2,201, American Family provides the cheapest rate for $750K in dwelling coverage for high-value homes in Ohio. As dwelling coverage greatly influences insurance costs, high-value homes often face higher premiums. Here are the best picks:

• Cheapest for $750,000: American Family at $2,201 per year
• Cheapest for $1MM: American Family at $2,749 per year

It's smart to opt for dwelling coverage adhering to the replacement cost of your home. Check MoneyGeek's table to comprehend how costs change by dwelling coverage.

The most affordable home insurance in Ohio for new homes is provided by Nationwide, offering a yearly premium of $339 for $100K in dwelling coverage. It's worth noting that new homes are generally cheaper to insure in the state due to a lower risk profile – newer properties typically feature updated safety features and comply with modern building regulations, reducing potential hazards.

The most inexpensive options in Ohio for various dwelling coverages are:

• Cheapest for $100,000: Nationwide at $339 per year
• Cheapest for $250,000: Nationwide at $533 per year
• Cheapest for $500,000: Nationwide at $854 per year

Take a look at the table below to see more details on cost changes for a newly built home with different coverage values. These insights will ensure Ohio homeowners can make the most informed insurance choices.

In Ohio, the most affordable home insurance for those with poor credit is offered by American Family at $1,100 annually for $100K in dwelling coverage. Credit scores significantly impact home insurance rates, being a tool that insurers use to evaluate the risk of policyholders defaulting on payments.

• Cheapest for $100,000: American Family at $1,100 per year
• Cheapest for $250,000: American Family at $1,721 per year
• Cheapest for $500,000: American Family at $2,673 per year

With a poor credit score, the average home insurance cost is $6,313 per year, compared to $1,121 for those with good credit scores for $100K in dwelling coverage.

Auto-Owners tops the list as the most cost-effective choice for Ohio homeowners with a single claim in the past 5 years, costing an average of $734 for $100K in dwelling coverage. Auto-Owners insurance is also the cheapest provider across different coverages for homeowners with at least one claim in the past five years — take a look at how rates change:

• Cheapest for $100,000: Auto-Owners at $734 per year
• Cheapest for $250,000: Auto-Owners at $1,101 per year
• Cheapest for $500,000: Auto-Owners at $1,858 per year

It's important to note that having past claims on your record often leads to higher future home insurance premiums. You can see an average $251 increase in premiums in Ohio for homeowners with 2 claims versus those claim-free in the past five years for $100K in dwelling coverage. For lower insurance costs, it's advisable for Ohio homeowners to avoid filing claims where possible.

The type of home construction and what materials are used for the roof play a significant role in determining the cost of home insurance premiums. In Ohio, the cheapest home insurance premium for a frame construction type home with a shake-treated roof is offered by American Family, at an annual cost of $676. Factors like the house being a "frame" type and the use of shake-treated roofs increase insurance costs because they are considered to be high-risk due to their susceptibility to damage from natural disasters.

Here are the cheapest companies in Ohio for the desired coverage:

• Cheapest for $100,000: American Family at $676 per year
• Cheapest for $250,000: American Family at $1,058 per year
• Cheapest for $500,000: American Family at $1,644 per year

Better materials can lead to cheaper premiums. For instance, superior construction and tile roofs cost an average of $995 annually, which is $207 less than the average premium for homes with a frame construction and shake-treated roofs at $1,202. Indeed, insurance companies value damage-resistant construction materials and roofs as it reduces the likelihood of claims.

You could save hundreds by tweaking your deductible. In Ohio, for a $2,000 deductible, the cheapest option is American Family at $654. Yet, for a $500 deductible, it remains American Family at $681. Let's review Ohio's top picks:

• $2,000 deductible: American Family at $654 per year
• $1,500 deductible: American Family at $666 per year
• $1,000 deductible: American Family at $681 per year
• $500 deductible: American Family at $681 per year

Deductibles in home insurance demonstrate what you pay before coverage kicks in. A $500 deductible averages $1,180 versus $1,018 for a $2,000 one, a $162 difference.

Score the lowest priced deal with an Auto-Owners home and auto bundle policy in Ohio, offering an annual rate of $1,700. Save big with home and auto insurance bundled together.

• Auto-Owners at $1,700 per year
• Nationwide at $1,966 per year

Bundling offers more than just savings — it provides convenience in managing both policies with the same company. By doing so, policyholders can manage their insurance with ease, dealing with a single point of contact. Learn more about the best Ohio insurance bundle for more details.

Boasting the most economical rates in numerous Ohio cities, American Family offers annual premiums as low as $608. Differences in costs across cities are largely dictated by factors such as local building codes, crime rates, and weather patterns.

• Akron enjoys the cheapest annual premium, provided by American Family, at a mere $608.
• Contrastingly, Dayton has the priciest annual premium for its lowest cost provider, Auto-Owners Insurance which charges a substantial $794.

Shopping insurers is critical, as rate calculations vary greatly by location, potentially offering savings.