Best cheap homeowners insurance in Cincinnati

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The average cost of homeowners insurance in Cincinnati is $1,086 per year for $250,000 in dwelling coverage, which is a little bit less than the average Ohio homeowners insurance policy at $1,111 per year for the same amount of coverage. These may not be the cheapest home insurance premiums in the country, but for most Ohio homeowners, insurance may be considered essential in the Queen City. Ohio is home to extreme weather, like tornadoes and flooding, in addition to harsh winters that bring snow, ice and frozen pipes.

However, when you know how to compare quotes, you could save even more on the best cheap homeowners insurance in Cincinnati. Based on factors like coverage, availability, price and national rankings, this is Bankrate’s review of some of the best cheap homeowners insurance companies in Cincinnati.

Best cheap home insurance companies in Cincinnati

To find Cincinnati’s cheapest home insurance, we considered what companies are available in the region. We also compared critical factors like coverage options, price and customer satisfaction ratings from respected industry agencies, such as J.D. Power.

Home insurance company Average annual premium for $250k dwelling coverage J.D. Power score
Allstate $656 830/1,000
American Family $836 827/1,000
Auto-Owners $868 845/1,000
State Farm $1,009 829/1,000
Nationwide $1,107 828/1,000

Allstate

Allstate offers all of the standard protections like personal property and liability coverage, but there are also options for expanded protections like manufactured or mobile home insurance, flood insurance, and HostAdvantage® coverage (if you need Airbnb insurance). Although it ranks average among customer satisfaction, there are excellent resources, like the ability to file a claim online or via the mobile app. Allstate also offers great savings for things like claims-free, early signing, loyalty and welcome discounts, as well as its Easy Pay Plan®. If you are a new homebuyer or you are over 55 and retired, you could also earn extra discounts.

Learn more: Allstate Insurance Review

American Family

Although it offers 24/7 claims support, American Family ranks slightly below-average for customer satisfaction. Still, it is a great choice to consider when you are looking for affordable home insurance. Coverage options include equipment breakdown coverage, sump pump failure, service line coverage, matching siding insurance and hidden water damage coverage. With all of these coverage options, American Family still prioritizes savings, even offering the option for a diminishing deductible. Rates are competitive, on average for Cincinnati homeowners.

Learn more: American Family Insurance Review

Auto-Owners

Auto-Owners offers comprehensive home insurance coverage with plenty of add-ons that help you customize your coverage. Protect your home value with guaranteed home replacement cost, and add on water backup coverage for your home’s sewers and drains. There is also coverage for special personal property, ordinance or law coverage and identity theft insurance. As an added benefit, Auto-Owners ranks among the top providers for customer satisfaction in J.D. Power’s 2020 study.

Learn more: Auto-Owners Insurance Review

State Farm

State Farm ranks slightly below-average for customer satisfaction, but fantastic mobile tools help homeowners manage policies more conveniently, as is also true with the online home insurance quotes offered by this insurer. There are also both online and mobile options when you need to file or track a claim. Additionally, you can save money through your home with home security alert protection and roofing discounts.

Learn more: State Farm Insurance Review

Nationwide

Although Nationwide ranks slightly below-average for customer satisfaction, it is still one of the cheapest providers in the area, based on quoted annual premiums. It is also a highly respected home insurance company in Cincinnati for replacement coverage, offering options for other structures, better roof, loss of use and brand-new belongings coverage. Nationwide also offers credit card coverage for additional financial coverage. Before you finalize your policy, be sure to ask about discounts for a home purchase, prior insurance, your roof rating or living in a gated community.

Learn more: Nationwide Insurance Review

Home insurance coverage options in Cincinnati

Homeowners in Cincinnati may want to consider specialized insurance coverage to protect them from Ohio’s winter storms and other hazards, such as these:

  • Flood insurance: Flood insurance does not come standard with the average insurance policy, and not all insurance providers offer it. If your insurance company does not, you can purchase a policy at an additional cost from the National Flood Insurance Program (NFIP), or seek a private provider.
  • Wind coverage: Windstorm insurance is usually included with the typical home insurance policy. Before you finalize your coverage, ask your provider about what options you have for your policy as far as limits are concerned, in case you prefer a higher degree of financial protection.
  • Water damage: With heavy snow each winter in Ohio, it is important to ensure that your home insurance includes adequate coverage for water damage to protect you from plumbing and other issues that can cause heavy losses within your home.

Home insurance discounts in Cincinnati

To make the cheapest home insurance in Cincinnati even more affordable, you can use home insurance discounts to save on your premium each year. Several cheap home insurance companies offer additional ways to save, such as these:

  • Payment discounts: Earn extra savings when you pay in full, renew in advance or opt for paperless statements.
  • Bundle discounts: One easy way to save on your insurance is to bundle multiple policies with the same provider, so you may find additional savings with a single provider if you also have car insurance, rideshare insurance, condo insurance or life insurance.
  • Property discounts: Some insurance companies will offer additional discounts when you have a newly constructed home, home security, a new roof or if you have made certain home renovations.
  • Personal discounts: You may be able to earn extra discounts when you are a senior, have a good credit score, are claims-free for a certain period or if you are a member of the military, or a veteran.

In Ohio, you may have to occasionally file claims for storm damage, with snow common within the state. It can be helpful to consider which discounts can lower your premium; remember that insurance companies typically offer several ways to save with personal and property-related discounts. Before you purchase home insurance, it is always important to explore your options and inquire about what additional savings may work for your policy.

Frequently asked questions

What is the best home insurance company?

The best home insurance companies are different from person to person. Pricing varies significantly based on several rate factors, such as where you live, the type of home you have, your marital status, and the deductible that you choose. In addition, provider priorities will vary by homeowner.

How much does home insurance in Cincinnati cost?

A Cincinnati home insurance policy for $250K dwelling coverage costs an average of $1,086 per year, based on quoted annual premiums from Quadrant Information Services.

How much home insurance do I need in Cincinnati?

There is no minimum amount of home insurance that you need in Cincinnati, but if you have a mortgage, you are likely required to carry a set amount of coverage. Regardless, it is always a recommendation to protect your home with adequate coverage in case a loss occurs.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 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.

Written by
Lena Borrelli
Insurance Contributor
Lena Muhtadi Borrelli has several years of experience in writing for insurance domains such as allconnect, Healthline and Reviews.com. She previously worked for Morgan Stanley.
Edited by
Insurance Editor