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Although homeowners insurance can give you peace of mind, it can also be expensive. And if you live in Columbus, you might be looking for the best cheap home insurance. After all, the average cost of homeowners insurance in Columbus is $1,157 per year for a home with $250,000 in dwelling coverage.
Bankrate reviewed insurance companies writing policies in Columbus to find the best options for you. This included an analysis of the average premium cost, as well as third-party customer service ratings, financial stability ratings and the scope of each company’s offerings. Based on Bankrate’s finding, some of the best cheap home insurance companies in Columbus are American Family, Auto-Owners and Allstate.
Best cheap home insurance companies in Columbus
With so many options available, Bankrate reviewed a range of options to find the best cheap home insurance in Columbus. Some of the cheapest home insurance companies in Columbus include American Family, Auto-Owners and Allstate. In addition to reviewing the rate information provided by Quadrant Information Services, we also reviewed each company’s ranking in the 2022 J.D. Power Home Insurance Study. We checked out company websites to see who offered the greatest range of coverages, and looked for a generous handful of discounts to lower your rate even further. All of this information was combined to form the Bankrate Score, which is based on a five-point scale and assigned to each provider.
|Home insurance company||Bankrate Score||Average annual premium for $250K dwelling coverage||J.D. Power score|
AmFam’s inexpensive policies cover your dwelling, detached structures such as garages, your belongings, liability and loss of use coverage, which would help pay your expenses if you had to move out of your home while it was being repaired due to a covered peril. It offers some uncommon optional coverages, including equipment breakdown and siding protection, as well as credit theft protection and sump pump and water backup coverage.
AmFam’s wide range of coverage options is a big reason it’s among the best home insurers in Columbus. It also has 24/7 claims and policy support, with accessible local agencies. While the mobile app is geared toward auto insurance policies, the company’s J.D. Power rankings are about average, so you are likely to receive good customer support when you need it. In addition, its online and mobile app functionality is not as extensive as those of competitors.
Learn more: American Family Insurance review
You might think from the name that Auto-Owners writes only car insurance policies, but they have an excellent record for comprehensive homeowner coverage as well. Although it is not the least expensive option on the list, the company scores the highest of any of our chosen companies on the J.D. Power list. It also makes the list due to its low number of complaints, numerous coverage options and discounts and its superior AM Best rating.
Auto-Owners offers special coverage options for high value homes, so they are a good pick if your home is worth more than the average. Other coverage options include guaranteed home replacement cost, equipment breakdown and special personal property coverage, which increases your coverage for personal items. However, keep in mind that its online tools are not as robust as those of competitors.
Learn more: Auto-Owners Insurance review
Allstate offers policies that cover your home, land and belongings from disaster, and they do it at a reasonable price. Eight possible discounts can bring your premium costs down even further. These include a welcome discount of 10% just for switching to Allstate, as well as an early signing discount and one if you pay your premium automatically. Allstate makes the list thanks to its unique coverage options, numerous discounts, 24/7 support and its helpful online guides. However, keep in mind that endorsements are not available in all states, so check your coverage options with your agent. Although Allstate does not have the most coverage options among these providers, it does add some extra perks to its policies, such as Claim Rateguard, which says it will ensure that your premium won’t go up just because you file a claim, and a potential 5% each year on your renewal if you don’t have a claim that year.
Learn more: Allstate Insurance review
Nationwide’s basic HO-3 policies, the most common type written for homeowners, are comprehensive, and include medical payments coverage if someone is injured on your property, ordinance or law insurance, which allows you to rebuild to code and credit card fraud coverage. The company keeps your cost down with discounts, some of which are uncommon, such as a credit if you have renovated your plumbing, heating, cooling or electrical systems, and one if you live in a community that is protected by security guards, residence cards or key-lock devices.
Learn more: Nationwide Insurance review
Grange Insurance not only offers some of the best cheap homeowners insurance in Columbus, but the regional provider is headquartered there, too. It makes the list because it has multiple unique offerings, a range of discounts and knowledgeable local agents. However, the company has not been rated by J.D. Power, and its online tools are somewhat lacking.
While Grange does not offer the lowest average rate out of the listed providers, the discount opportunities it offers may help to cut down on the cost of your homeowners insurance policy. Potential discount opportunities may include inspection savings, discounts for obtaining the proper maintenance and inspections your home needs each year, or discounts for getting an advanced quote if you plan your policy renewal ahead of time.
Learn more: Grange Insurance review
Other Columbus home insurance coverages to consider
Although homeowners insurance in Columbus is not required, a basic policy that covers the building, other structures and your belongings along with liability coverage is essential for all homeowners. Although Columbus does not see a lot of extreme weather, it is prone to severe thunderstorms, lightning and hail — all of which can damage your home. Here are some optional coverages you may want to consider:
- Flood insurance: If you live near one of Columbus’s many bodies of water, consider purchasing flood insurance. Floods are not covered with HO-3 policies, but you can purchase optional flood insurance to protect your home from water damage.
- Identity theft coverage: A few insurers include this with their basic policies, but most have it as an option. Identity theft is becoming increasingly common in our digital world and protecting your financial life from harm is vital.
- Extended replacement coverage: Your dwelling insurance covers you for damage to your home up to the limit of your policy. If costs to repair or rebuild exceed that, extended replacement insurance will increase your coverage, up to a certain percentage, such as 125% or 150% of your limit.
Home insurance discounts in Columbus
Discounts are one of the best tools you have as a policy owner for saving money. You may be eligible for one or more when you apply for your policy, but it’s worth checking whenever you renew to see if there are any new ones that you may qualify for. Here are some common discounts for Columbus homeowners:
- Bundling: It can pay to do all your insurance business with one company. Bundling your homeowners and auto insurance will potentially save you a small percentage of the premiums for both.
- Protective devices: Anything that makes your home safer, from smoke detectors to a security system, can earn you a potential discount on your policy.
- Green home: Not all insurers give a discount for using green building practices, but some do, and it’s worth a call to your insurer if you go green when you build or renovate.
- Claim-free: Your insurer may reward you with a discount if you go for a certain period of time, such as three to five years, without having made any claims on your policy.
While the savings will typically vary based on the type of the discount and the insurance provider, these types of discounts offer the potential for significant savings on your policy. Bundling typically offers one of the larger discount opportunities, and it may be easy to qualify for. Protective device discounts for installing safety devices, like smoke detectors or security systems, may also provide significant savings to those who qualify.
Frequently asked questions
The best homeowners insurance company for you is the one that gives you a great price while also offering good customer service and the ability to customize your policy to meet your needs. You can find this company by looking through the companies on our best-of list, asking for quotes from any that look good to you and checking out company websites to see what they offer.
The average cost of homeowners insurance in Columbus is $1,139 a year. This is on par with the Ohio average of $1,140 for $250,000 in dwelling coverage. However, this is well below the national average of $1,428. Your own cost will be determined by factors including your credit rating and age and the age and condition of your home.
You should have enough home insurance that you would be able to rebuild if a disaster such as a fire or flood seriously damaged or destroyed your home. This may not be the same as your home’s market value, and a good insurance agent can help you figure out just how much you should buy.
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.