Best homeowners insurance in Ohio

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If you own your home, Ohio law does not require that you insure it; however, your mortgage banker may do so and it is a good idea to have home insurance Ohio. Ohio has a homeownership rate of 68.2%, putting the state slightly above the national average of 64.8%. In 2020, the average home insurance cost Ohio was $872, putting Ohio homeowners well below the national average price of $1,477 for that same year. You can see more in-depth information at the Ohio department of insurance.

When looking for the best homeowners insurance Ohio, consider the various environmental factors that can damage your home. Everything from windstorms to tornadoes can be covered with the right homeowners insurance policy. Beyond that, it’s essential to assess potential insurers based on how they rank with trusted third-party evaluators such as J.D. Power and AM Best.

Best home insurance companies in Ohio

To select these companies, we first studied the J.D. Power & Associates customer satisfaction report on homeowners insurance for 2020. Then we narrowed that down based on whether or not their top companies provided insurance in Ohio. After that, the list was narrowed further by selecting only those with excellent or above ratings with AM Best. From there, the top five finalists were selected based on average premiums and coverage options.

Home insurance company Average annual premium for $250K dwelling J.D. Power customer satisfaction score
Allstate $845 829
Auto-Owners $791 843
Farmers $949 814
Buckeye Insurance Group $419 NA
State Farm $991 829

Quadrant Information Services, 2020

Allstate

Allstate was selected for its above-average ratings, discounts, community investments and spread of coverage options. Allstate has more coverage options than many companies, offering more unique options such as boat, identity theft protection, snowmobile, pet, retirement and savings, business, motorhome and RV, event and landlord insurance options.

Auto-Owners

Auto-Owners offers a selection of insurance types that cover your home and belongings and provide protection from liability claims. It scores high with consumer rating organizations for the quality of its customer service, so it’s a good choice if you like to deal with pleasant, professional agents. Auto-Owners lets you customize your policy with endorsements for equipment breakdown, identity theft, water backup and more.

Farmers

Although Farmers gave us the highest quote among our choices, it has some features that set it apart from the competition. If environmental issues matter to you, for example, you’ll be pleased to know you can receive up to $25,000 to rebuild with green materials after a disaster. The company also offers discounts to reduce your cost, including new home, protective devices and claims free.

Buckeye Insurance Group

Buckeye is a regional insurer working throughout the Midwest, and its agents are skilled at handling the insurance needs of homeowners in this part of the country. It is known for reasonable, affordable rates and good customer management. It offers replacement cost insurance as well as identity fraud and equipment breakdown coverage.

State Farm

State Farm was chosen for its excellent ratings, live-agent presence throughout Ohio and its abundance of policy add-on options. This provider offers vehicle, home and property, life, health, disability, liability and small business insurance.

Average homeowners insurance cost in Ohio

How much is homeowners insurance in Ohio? The average homeowners insurance Ohio is $872, well below the national average of $1,477. Here is the breakdown of our chosen providers:

  • Allstate: $70 monthly or $845 annually
  • Auto-Owners: $66 monthly or $791 annually
  • Farmers: $79 monthly or $949 annually
  • Buckeye Insurance Group: $35 monthly or $419 annually
  • State Farm: $83 monthly or $991 annually

Home insurance coverage options in Ohio

Home insurance types are broken down into eight main categories, HO-1 through HO-8. For homeowners in Ohio, unless your home type calls for a specific policy form (such as a mobile home or older home), you will likely want an HO-3 policy with specific add-ons suited to your area and property.

In Ohio, tornadoes, ice and snow, and floods are worth being protected from, but things like hurricanes and earthquakes are unlikely to present a risk. For the most part, this state suffers less home-threatening natural disasters than most, which is part of why their average annual home insurance premium is so much lower than the national average.

Common causes of home insurance losses in Ohio

Ohio runs less risk for home insurance loss than most states, but there are still some risks you want to protect yourself from. Tornadoes, ice and snow and flooding are at the top of things you should consider that aren’t likely to be covered in your basic home insurance policy. Choosing the right hazard insurance is key to making sure your policy protects your property thoroughly.

The Insurance Information Institute tells us that, in 2017, 35.1% of property claims were related to fire and lightning, while 38.2% were caused by wind and hail.

Frequently asked questions

What is the best homeowners insurance in Ohio?

Buckeye Insurance Group gave us the lowest quote of any of our five Ohio homeowners insurance companies. Your own quote will vary, and depends on factors including the age and condition of your home, your own credit rating, and even the distance of your home from a fire hydrant.

How do I get homeowners insurance in Ohio?

Select the company that you have chosen and go to its website. From there, the provider will give you options for applying online, over the phone or in-person.

How much does homeowners insurance cost in Ohio?

Based on the companies we selected and the profile we used, homeowners insurance in Ohio can range from $419 to $991 annually.

What types of coverage should I get?

For Ohio homeowners, you’ll likely want to get an HO-3 policy with potentially add-on coverage for tornadoes, ice storms and snowstorms.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 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 may be different.