Best cheap homeowners insurance in Columbus
Although home insurance in Columbus is not required by law, the way car insurance is, it is rarely a good idea to skip it. You want to protect your investment in your home and be able to pay the bills if a catastrophic accident should happen to your home.
If you are one of the nearly 45% of Columbus residents who own your own home, you know how important good insurance coverage is. The average cost of homeowners insurance in Columbus is $1,117 per year for a home with $250,000 in dwelling coverage.
We looked at the companies writing policies in Columbus to find the best options for you. We looked at average premium cost, but also at customer service, financial stability and the scope of each company’s offerings. We ended up with five insurers who Bankrate considers to be excellent in all areas.
Best cheap home insurance companies Columbus
Our five chosen insurers — American Family, Auto-Owners, Allstate, Nationwide and State Farm — all have average annual premiums that are either below the Columbus average or not far from it. We also reviewed each company’s ranking with the influential J.D. Power Overall Customer Satisfaction Index Ranking. 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.
|Home insurance company||Average annual premium for $250K liability||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. The company’s J.D. Power rankings are about average, so you are likely to receive good customer support when you need it.
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. The company scores the highest of any of our chosen companies on the J.D. Power list. 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.
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 also adds 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.
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.
State Farm writes more homeowner policies in the U.S. than any other insurer, and there are good reasons for that. The company’s website allows you to manage your policy easily online, as well as learn more about your home and insurance in general. Although State Farm’s average premium for Columbus homeowners is at the higher end among our choices, you will find several discounts that may lower your cost, including one for home security devices and another for using impact-resistant roofing products. State Farm scores well with J.D. Power and has an A++ ranking with AM Best, which monitors financial stability.
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.
Frequently asked questions
What is the best home insurance company?
The best home 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.
How much does home insurance in Columbus cost?
The average cost of homeowners insurance in Columbus is $1,117 a year. This is above the Ohio average of $872, which may be partially because of higher crime rates in the city. Your own cost will be determined by factors including your credit rating and age and the age and condition of your home.
How much home insurance do I need in Columbus?
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 rates for all ZIP codes and homeriers 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 may be different.
Rates are determined based on 2020 Quadrant Information Services data.