Ohio’s high homeownership rate — 66% of its residents own their property — means that there is a substantial need for quality home insurance coverage in the state. Ohio homeowners pay $1,164 per year, on average, for homeowners insurance with $250,000 in dwelling coverage, according to Bankrate’s 2022 analysis of quoted annual premiums.
If you are shopping for the best homeowners insurance in Ohio, Bankrate’s research may be helpful. Our insurance editorial team reviewed the largest home insurance companies by market share in Ohio and analyzed average premiums, available coverage options, discounts and third-party ratings to help you find a company that fits your needs.
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Key takeaways
  • The average home insurance premium in Ohio is $1,164 per year for $250,000 in dwelling coverage.
  • Buckeye Insurance Group, Auto-Owners and Allstate offer some of the lowest average rates in Ohio.
  • State Farm is one of the best homeowners insurance options in Ohio, according to Bankrate’s research.

Best home insurance companies in Ohio

Based on our analysis of rates from Quadrant Information Services, third-party customer service scores and financial ratings from J.D. Power and AM Best, and other factors, we found that the best home insurance companies in Ohio include State Farm, Auto-Owners and Allstate. These providers stand out for their average rates, available discounts, solid financial and customer service ratings and other important factors. Homeowners in Ohio can also weigh several other options for the best homeowners insurance in Ohio.

If you are shopping for the best Ohio homeowners insurance options, the following companies might be a good starting point:

Home insurance company Bankrate Score Average annual premium for $250k dwelling J.D. Power score AM Best rating
State Farm 4.7 $1,569 835/1,000 A++
Auto-Owners 4.3 $1,172 831/1,000 A++
Allstate 3.9 $1,500 829/1,000 A+
Farmers 3.8 $1,999 813/1,000 A-
Buckeye Insurance Group Not rated $418 Not rated B+

State Farm

State Farm has a network of local agents throughout Ohio. If you like to handle your home insurance needs in person, there is likely a State Farm agent near you. The company’s average Ohio home insurance premium is slightly higher than the state average, but that higher premium may be worthwhile with the ability to add numerous endorsements to personalize your policy. State Farm also partners with Ting, a mobile network service, to provide a free device that could help you detect an issue in your home’s wiring before it can start a fire.

Learn more: State Farm Insurance review

Auto-Owners

Auto-Owners is a regional carrier that operates in 26 states, including Ohio. Policies can be robust, with options like guaranteed home replacement cost, equipment breakdown and identity theft coverage available. The company offers an array of discounts, including savings for paperless policies, mortgage-free customers and customers who have an automatic backup generator.

Learn more: Auto-Owners Insurance review

Allstate

Allstate offers one of the lowest average home insurance premiums in Ohio, as well as an above-industry-average J.D. Power rating, meaning that customers are generally satisfied with its service. Allstate offers numerous coverage options that could help you tailor your policy to your needs, including electronic data recovery coverage, water backup coverage and sports equipment coverage. The company also offers several discounts, including an early signing discount, claim-free discount and new homebuyer discount.

Learn more: Allstate Insurance review

Farmers

Although Farmers does have the highest premium of the companies on our list, the company may still be a good choice for your insurance needs. The company offers policies in three levels: Standard, Enhanced and Premier. Within each package, you have the flexibility to add coverage types and discounts that fit your needs. Optional coverage choices include Eco-Rebuild coverage and identity theft, and Farmers advertises its multi-policy discount as a way to maximize the value of your policies.

Learn more: Farmers Insurance review

Buckeye Insurance Group

Buckeye Insurance Group is a regional insurer with policyholders in Indiana, Kentucky and Ohio. Its local agents may be more in tune with the insurance needs of homeowners in Ohio. The company offers the lowest average homeowners insurance premium in Ohio on our list, by far, at just $418 annually for $250,000 in dwelling coverage. You may be able to add various endorsements to fit your needs, including identity fraud protection for social media and for mobile apps, as well as equipment breakdown coverage.

How much is homeowners insurance in Ohio?

Ohio homeowners insurance costs, on average, $1,119 per year for $250,000 in dwelling coverage, which is less than the national average of $1,383 per year. Reasonably priced homeowners insurance is relatively common in the Midwest. For example, homeowners in Indiana pay an average of $1,180 annually for the same amount of coverage, and Wisconsin homeowners pay an average of $928 annually.

While the likelihood of year-round storm damage is relatively high in Ohio, the state does not face the same risks as many other areas in the U.S., which may be part of why the state has lower average home insurance rates. Unlike portions of the Western U.S., earthquakes aren’t common in Ohio. Neither is catastrophic hurricane damage, which is common on the East and Gulf Coasts. The cost of repairs and rebuilding may also be lower in Ohio than it is in many other parts of the country, due to the low cost of living in the Buckeye State.

Ohio homeowners insurance rates by city

Home insurance in Ohio

When it comes to homeowners insurance, each state has its own unique considerations. The common types of losses, for example, can help you decide what optional coverage to purchase. Understanding the unique risks that Ohio homes face might help you feel more confident in your insurance choices.

Common causes of loss in Ohio

Ohio runs less risk for property loss than many other states, but there are still some risks you may want to consider when buying home insurance:

  • Tornadoes: Although it is not in “Tornado Alley,” the state can be prone to tornadoes, averaging 19 per year, according to the Insurance Information Institute (Triple-I).
  • Winter storms: Winters in Ohio can be brutal, with cold temperatures, ice storms and heavy snows. Winter storms can cause power outages, spoiled food, roof damage and frozen and burst pipes.
  • Flooding: All areas in Ohio have some flood risk, but floods are especially common in the southern area of the state.

Once you understand the common causes of property damage in Ohio, you may be able to better choose home insurance coverage to protect your finances from home repairs or replacement.

Home insurance coverage options in Ohio

Homeowners insurance is designed to financially protect you from having to repair or replace your home after a covered loss. Once you understand the common causes of loss in your area, you might feel more confident choosing coverage that are appropriate, such as:

  • Wind coverage: Standard homeowners insurance policies in Ohio typically include coverage for damage caused by high winds and tornadoes, but you may want to confirm this with your agent due to the state’s risk.
  • Weight of ice and snow coverage: Most Ohio home insurance policies cover damage caused by the weight of ice and snow automatically, but again, because Ohio’s winters can be brutal, you might want to confirm this with your insurance carrier.
  • Flood insurance: Homeowners insurance does not typically cover damage caused by flooding. For that, you will need to purchase a separate flood insurance policy underwritten by the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) or a private insurer. Some homeowners carriers offer this coverage as an endorsement.

Talking to a licensed insurance agent might be helpful when purchasing Ohio homeowners insurance, to gain a clear understanding of the coverage. An agent can assess your situation and suggest coverage options that are appropriate for your needs.

Frequently asked questions