Cincinnati Financial has the lowest rate for homeowners insurance in Columbus, Ohio, with an average premium of $75 a month. Even though the majority of the top home insurance providers operating in Columbus have rates below the state and national averages, it's in your best interest to have a full view of your choices to compare against. We'll help you understand the cost and policy offering differences between them, so you can get the best coverage at your best price.
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What are the cheapest home insurance companies in Columbus?
Cincinnati Financial has the lowest average rate for homeowners insurance in Columbus at $75 a month. Erie has the second-cheapest rate at $79 a month, with Farmers right behind at $80 a month.
| Company | Monthly rate |
|---|---|
| Cincinnati Financial | $75 |
| Erie | $79 |
| Farmers | $80 |
| American Family | $85 |
| USAA | $99 |
| Nationwide | $101 |
| Grange | $127 |
| State Farm | $131 |
| Allstate | $152 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
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How much does home insurance cost in Columbus?
The average cost of home insurance in Columbus is $103 a month. This is just above the Ohio average rate of $102 a month, and 29% cheaper than the national rate of $146 a month.
| Region | Monthly rate |
|---|---|
| Columbus | $103 |
| Ohio | $102 |
| U.S. | $146 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Your final rate for home insurance will depend on other factors that include:
- How old your home is
- Construction materials
- Your ZIP code
- Your insurance claim history
The coverage that an HO-3 home insurance policy provides is usually very similar from company to company. Why is there such a cost difference? The key reason is that home insurers put different weight values on different risk factors. For example, one provider may consider the age of your home to be a higher risk than another company.
Your deductible also figures into your home insurance premium. The higher the deductible you choose for your policy, the lower your premium will be. The best way to make sure you're getting the best deal is to compare home insurance quotes from multiple companies side by side.
The best home insurance companies in Columbus
We found Cincinnati Financial, Erie and Farmers to be the best homeowners insurance companies operating in Columbus. Here's why:
Cincinnati Financial: Cheapest rates
Cincinnati Financial has the cheapest insurance rates for homeowners in Columbus, coming in with an average of $75 a month. This is 27% lower than the average monthly rate in Columbus of $103.
Started in 1950, Cincinnati Financial is the 20th-largest insurance company by market share in the country. On the National Association of Insurance Commissioners Complaint Index, it received a rating of .04%. This score reflects an insurer's claim-oriented complaints in relation to its market share. The average national complaint score is 1.0, meaning that Cincinnati Financial gets less than half the average amount of complaints.
Erie: Cheap rates and best bundling discount
Erie's average rate for homeowners insurance is $79 a month in Columbus, 23% lower than the city's average rate. Erie also offers one of the best discounts for bundling to help you save even more. If you bundle your home insurance with an auto or life insurance policy through Erie, you can save between 16% and 25% on your overall insurance costs.
USAA: Best for military veterans
USAA has an average rate of $99 a month for homeowners insurance in Columbus. Relatively speaking, it's not the lowest rate available for a homeowners policy; however, if you're one of the over 110,000 veterans living in Columbus, you should consider USAA.
In J.D. Power's 2022 U.S. Property Claims Satisfaction Study, USAA received a score of 893 out of 1,000. This score reflects overall customer satisfaction based on claim factors such as response time and payout. USAA only provides home insurance for currently serving and veteran military, so J.D. Power does not include it in their official ranking of companies. Otherwise, USAA would be at the very top of the list.
Methodology
We collected quotes from every ZIP code in Columbus from the following home insurance companies:
- Allstate
- American Family
- Country Mutual
- Cincinnati Financial
- Erie
- Farmers
- Grange
- Nationwide
- State Farm
- USAA
Average rates for a standard HO-3 homeowners insurance policy were calculated using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
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