Cincinnati Insurance and Erie Insurance offer the cheapest homeowners insurance in Ohio, with rates averaging $83 and $87 a month, respectively. A low rate is important, but you also need your insurance company to provide coverage that meets your needs and responsive customer service. Our guide to the best homeowners insurance companies in Ohio is designed to help you find the right coverage at the cheapest price.
In this article
Cheapest home insurance in Ohio: Cincinnati
Our analysis of homeowners insurance quotes in every Ohio ZIP code shows that Cincinnati has the cheapest average rate, $993 a year, or $83 a month. This amount is slightly lower than the average rates available from Erie, $87 a month, and American Family, $92 a month.
It’s best to compare quotes from multiple companies when you shop for homeowners insurance.
| Company | Annual rate | Monthly rate |
|---|---|---|
| Cincinnati | $993 | $83 |
| Erie | $1,047 | $87 |
| American Family | $1,102 | $92 |
| Westfield | $1,135 | $95 |
| USAA | $1,182 | $98 |
| State average | $1,285 | $107 |
| State Farm | $1,412 | $118 |
| Nationwide | $1,477 | $123 |
| Grange | $1,587 | $132 |
| Allstate | $1,628 | $136 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Find cheap home insurance from top Ohio companies
Best homeowners insurance companies in Ohio
USAA and Cincinnati have the best customer service ratings among Ohio’s top insurance companies. Cincinnati is also best for saving money, while Erie has the best policy features.
Best customer service scores: USAA and Cincinnati
USAA has the highest overall customer satisfaction score from J.D. Power, while Cincinnati has the best complaint rating from the National Association of Insurance Commissioners (NAIC).
J.D. Power’s overall customer satisfaction rankings index is based on customer surveys rating home insurers on interaction, policy offerings, price, billing process, policy information and claims.
USAA’s satisfaction score of 884, on a 1,000-point scale, beats all others in our analysis. USAA is only available to current and former members of the military and their families.
NAIC’s Complaint Index compares insurance companies by confirmed complaints, which are those that lead to a finding of fault. A company with a 2.0 Complaint Index rating has twice as many complaints as expected for its size, while a company with a 0.5 rating has half as many.
Among the Ohio companies in our analysis, Cincinnati has the lowest Complaint Index rating, 0.08, narrowly beating out Westfield and Erie, which both have ratings of 0.09.
| Company | Satisfaction score | Complaint rating |
|---|---|---|
| Allstate | 815 | 0.35 |
| American Family | 842 | 0.12 |
| Westfield | Not rated | 0.09 |
| Cincinnati | Not rated | 0.08 |
| Erie | 827 | 0.09 |
| Grange | Not rated | 0.2 |
| Nationwide | 816 | 0.2 |
| State Farm | 829 | 0.32 |
| USAA | 884 | 0.2 |
| Sources: J.D. Power 2022 U.S. Home Insurance Study; National Association of Insurance Commissioners Complaint Index (2021 data) | ||
Best for saving money: Cincinnati
With rates that are 23% lower than the state average, Cincinnati is the best choice for saving money, but Erie, American Family and Westfield also offer low rates.
Cincinnati’s Executive, or standard, tier policies provide a solid foundation of coverage for the most common risks that most homeowners face.
Like most standard home insurance, these policies cover your belongings at their depreciated value and have sublimits on the amount of coverage they provide for lost or stolen jewelry, watches, furs and other valuables.
For more coverage, Cincinnati’s Homeowners Plus endorsement covers your belongings at their replacement cost value, with no deduction for depreciation, and comes with higher limits for your valuables.
Best policy features: Erie
Guaranteed replacement cost coverage for your home and coverage for lost or misplaced belongings give Erie the edge for best insurance policy features for Ohio homeowners.
Guaranteed replacement cost coverage, in general, requires an insurance company to cover the entire cost of rebuilding your home after a total loss, even if the total bill exceeds your policy’s dwelling limit. Some companies offer guaranteed replacement cost coverage as an optional add-on, but Erie is one of the few that includes it as a standard policy feature.
Most companies also only cover your belongings for theft or damage from a covered peril, such as a fire, fallen tree or windstorm. Erie also covers possessions that you lose or misplace, under qualifying conditions.
What is the average cost of home insurance in Ohio?
The average cost of insurance for a typical home in Ohio is $1,285 a year, or $107 a month. This is 32% less than the national average of $159 a month.
The actual price you pay for homeowners insurance depends on a number of factors, including:
- Your home’s replacement cost value
- Your home’s age, size and construction features
- Risk factors in your neighborhood, such as exposure to severe weather and crime rates
- Your credit history
- Any discounts you may be eligible to receive
Since each company weighs these factors differently and offers different discounts, you may qualify for a significantly lower rate with one company than you do with others.
How your homeowners deductible impacts your insurance rate
In Ohio, raising your homeowners insurance deductible from $1,000 to $2,000 reduces the average price of insurance by 10% to $97 a month.
| Policy deductible | Annual rate | Monthly rate |
|---|---|---|
| $500 | $1,357 | $113 |
| $1,000 | $1,285 | $107 |
| $1,500 | $1,212 | $101 |
| $2,000 | $1,160 | $97 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Since your deductible is the amount of money you spend on repairs or to replace property before insurance funds kick in, you don’t want to choose one that is too high. It is generally best to choose a deductible at the upper end of your comfort level.
How your dwelling coverage impacts your home insurance rate
The average price of insurance for an Ohio homeowners policy with a $350,000 dwelling limit is 17% higher than the cost of a $275,000 policy.
| Dwelling limit | Annual rate | Monthly rate |
|---|---|---|
| $200,000 | $1,101 | $92 |
| $275,000 | $1,285 | $107 |
| $350,000 | $1,504 | $125 |
| $425,000 | $1,739 | $145 |
| $500,000 | $1,971 | $164 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
You typically don’t have as much flexibility to adjust your dwelling limit, which is the maximum amount the insurance company pays to repair damage to your home, as you do to change your deductible.
For most loans, lenders require you to insure your home at its replacement value. The latter is the estimated cost of rebuilding your home from the ground up to its current specifications and quality grade.
You can typically choose a lower amount if you have a low loan balance or no loan at all. In these situations, it’s best to insure your home for at least 80% of its replacement cost value. Otherwise, your insurance company is likely to reduce the amount you receive for any claim under what is generally known as an “underinsurance penalty.”
Ohio home insurance rates by city
Among Ohio’s largest cities, home insurance rates range from $94 a month in Parma to $119 a month in Toledo. In Columbus, the average price of home insurance matches the state average, $107 a month.
| City | Annual rate | Monthly rate |
|---|---|---|
| Akron | $1,210 | $101 |
| Canton | $1,178 | $98 |
| Cincinnati | $1,256 | $105 |
| Cleveland | $1,324 | $110 |
| Columbus | $1,287 | $107 |
| Dayton | $1,405 | $117 |
| Hamilton | $1,377 | $115 |
| Lorain | $1,242 | $103 |
| Parma | $1,132 | $94 |
| Toledo | $1,432 | $119 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
Ohio home insurance rates by county
In Ohio’s largest counties, home insurance rates range from $97 a month in Stark County to $118 a month in Lucas County.
| County | Annual rate | Monthly rate |
|---|---|---|
| Butler County | $1,347 | $112 |
| Cuyahoga County | $1,248 | $104 |
| Franklin County | $1,275 | $106 |
| Hamilton County | $1,249 | $104 |
| Lorain County | $1,210 | $101 |
| Lucas County | $1,412 | $118 |
| Montgomery County | $1,369 | $114 |
| Stark County | $1,163 | $97 |
| Summit County | $1,181 | $98 |
| Warren County | $1,293 | $108 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
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Insurance for floods and other risks in Ohio
Standard homeowners insurance in Ohio does not cover floods or earth movements, such as earthquakes, but separate insurance is available for each of these perils.
Ohio does require home insurers to cover damage from underground mine collapses in several counties and make coverage available on an optional basis in several others.
Ohio flood insurance
Most flood insurance in Ohio is purchased through the National Flood Insurance Program (NFIP), which is managed by the Federal Emergency Management Agency (FEMA). Some private companies also offer flood insurance.
If you apply for a mortgage for a home in a high-risk flood zone, your lender is likely to require flood insurance, in addition to your normal homeowners policy. You can find your home’s flood risk, or the flood risk of a home you want to buy, online in the Flood Map Service Center on FEMA’’s website.
The average cost of NFIP flood insurance in Ohio is $1,007 a month, or $84 a year.
NFIP policies offer up to $250,000 in building coverage for your home and up to $100,000 in contents coverage for your belongings.
Private flood insurance companies often offer higher coverage limits and/or additional coverages, such as loss of use. With loss of use, the insurance company covers lodging and certain other temporary living expenses if flood damage leaves your home uninhabitable during repairs.
FEMA’s online provider directory can help you find an NFIP-authorized insurance agent near you.
Earthquake insurance in Ohio
The Ohio Department of Insurance notes that a major earthquake has not struck Ohio in more than 100 years, but numerous small earthquakes have occurred.
Most home insurance companies in Ohio offer earthquake insurance as an endorsement you can add to your policy.
Since Ohio’s earthquake risk is considered low, these endorsements are typically inexpensive. However, the deductibles tend to be high, typically ranging from 2% to 5% of your policy’s dwelling limit. A 5% deductible for a home insured at $300,000 adds up to $15,000.
Ohio’s mine collapse insurance requirements
There are more than 4,000 abandoned underground coal mines in Ohio, and this has made mine subsidence a widespread risk across the state.
Mine subsidence occurs when an underground mine collapses, causing the land and any buildings above it to sink.
Home insurance policies sold in 26 of Ohio’s 88 counties, including Stark County, are required to cover up to $300,000 in mine-collapse damage to your home. Insurance companies are required to offer this coverage on an optional basis in eight other counties, including Delaware, Lake and Summit counties.
Ohio homeowners insurance: Frequently asked questions
On average, homeowners insurance costs $1,285 a year in Ohio, or $107 a month, for a typical home, not counting condominiums or mobile homes. Rates range from $92 for a policy with a $200,000 dwelling limit to $164 a month for a $500,000 policy.
The average price of flood insurance in Ohio is $84 a month for policies issued through the National Flood Insurance Program. Coverage is generally more expensive for those in high-risk areas and/or with high-value homes.
An insurance company needs to provide a 30-day notice to cancel your homeowners insurance policy, unless it is canceling your policy for non-payment or because you have committed arson, misrepresentation or fraud. An insurance company may non-renew your policy if you file two or three claims within a five-year period, even if the claims are for small amounts.
Methodology
The rates shown in this article are based on an analysis of more than 48,000 quotes for a standard HO-3 insurance policy for a typical single-family home in every Ohio ZIP code. Unless otherwise noted, prices reflect the estimated cost for policies containing the following coverages, limits and deductibles:
- Dwelling: $275,000
- Other structures: $27,500
- Personal property: $137,500
- Loss of use: $55,000
- Personal liability: $100,000
- Guest medical payments: $5,000
- Deductible: $1,000
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