Ohio law requires that homeowners insure their houses for a minimum of their mortgage amount. If you own your home, the law does not require that you insure it; however, it is a good idea to do so. With data from the Insurance Information Institute, we can see that Ohio has a homeownership rate of 67.3%, putting the state slightly above the national average of 64.8%. In 2017 (the most recent date of aggregate data), the average annual cost of homeowner insurance in Ohio was $862, putting Ohio homeowners well below the national average price of $1,211 for that same year. You can see more in-depth information at the Ohio department of insurance.
When looking for the best Ohio homeowners insurance companies, 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, the Better Business Bureau and AM Best. To see which companies scored best nationwide, read our article on the best homeowners insurance in the U.S.
Best home insurance in companies in Ohio
- 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.
- ASI Progressive: Progressive made our list for its numerous discounts and its superior ratings with AM Best and the BBB. It offers home, condo, renters, seasonal, flood and umbrella policies.
- Amica Mutual: As the J.D. Power award winner for customer satisfaction, Amica Mutual made it to the top of our list. Amica also gets superior ratings from AM Best and the BBB. If you want to bundle your insurance, Amica is a good option because it offers all the usual insurance needs such as auto and home along with small business, wedding and event, motorcycle, life and umbrella insurance.
- Erie Insurance: Erie had only slightly lower ratings than Amica Mutual. It offers a good variety of policy options while maintaining a lower than average rate of complaints. You can get auto, motorcycle, homeowners, renters, business and life insurance through Erie.
- 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.
To select these companies, we first studied the J.D. Power & Associates customer satisfaction report on homeowners insurance for 2019. 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 and the Better Business Bureau (BBB). From there, the top five finalists were selected based on average premiums and coverage options.
Average homeowners insurance cost in Ohio
The average price of homeowners insurance in Ohio is $862, according to the Insurance Information Institute. For the five companies selected, we gathered data on the average cost of their homeowners insurance in Ohio. Only ASI Progressive provides this information.
For all others, we got quotes based on the profile of a 35-year-old single male who owns a 1,464 square-foot, $135,000 house. The house is less than 10 miles to the nearest fire department, within 1,000 feet of a fire hydrant. This man had no extra coverage, no pets, was not a smoker and had not filed any claims in the past five years.
- Allstate: $127 monthly or $1,524 annually.
- Amica Mutual: $68 monthly or $820 annually.
- ASI Progressive: Reports that monthly costs of homeowners insurance through their policies in Ohio is $69.
- Erie Insurance: No online quote estimate tools
- State Farm: $92.58 monthly or $1,111 annually
Average homeowner rates across the country
According to the Insurance Information Institute, the average cost of Ohio homeowners insurance is $349 below the national average. This is partially due to the low frequency of natural disasters that threaten and damage homes in the state of Ohio. As you can see in the table below, all of the states around Ohio also have below-average homeowner insurance premiums, although none are as cheap as Ohio.
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.
- HO-1: This is the most basic type of homeowner insurance and usually covers 10 specific dangers to your home. These dangers are explosions, volcanic eruptions, riots, damage from aircraft, theft, vandalism, damage from vehicles, hail and windstorms, lighting and fire.
- HO-2: This covers the same dangers as an HO-1 but with specific extensions added. These add-ons are damage from electricity, bulging and cracking of pipes, water and steam, HVAC freezing, damage from ice and snow and falling objects.
- HO-3: These are called special form policies, and they cover everything in the previous two and more. Additional coverage is dependent on your insurer and your policy, as numerous options may be listed and they are not predetermined across the insurance industry.
- HO-4: This type of policy is specifically for renters.
- HO-5: Called a comprehensive form policy, these cover more than any other policy, but often still exclude dangers such as ordinance, smog, mold, fungus, rot, nuclear hazard, pets, settling of structure, wear and tear, and floods.
- HO-6: This is a policy specifically for owners of condos and covers many of the perils that your condo and possessions may face.
- HO-7: These policies are for mobile homes and cover similar dangers as the HO-3.
- HO-8: Designed for insuring older homes, these policies are geared towards older residential structures.
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. Below you can see the national averages for causes of insurance loss. 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. While Ohio has below average issues with this kind of weather, we can see from the National Weather Service that potentially damaging storms still occur there.
Frequently asked questions
What is the best homeowners insurance in Ohio?
Amica Mutual ranked highest in our search for the best Ohio homeowners insurance company. However, the best option for you may depend on your circumstances and insurance needs.
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 $820 to $1,524 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.