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Best cheap home insurance in Columbus in 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best home insurance companies in Columbus
For most Columbus residents, home insurance is an essential expense required by a mortgage company. Homeowners in the region may be happy to hear that the average cost of home insurance in the city is $1,334 for $300K of dwelling coverage — 42 percent less than the national average of $2,304 per year.
Bankrate’s insurance editorial team, which includes licensed property and casualty agents, carefully examined the insurers writing policies in the region to help identify the ones offering the best rates for homeowners. In addition to cost, we considered the range of coverage options, available discounts and third-party reviews to find the best home insurance in Columbus. Our top picks included Hastings Mutual, American Family, Allstate, State Farm and Grange Insurance.
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Not rated
Why Hastings Mutual made our list: Hastings Mutual is a Michigan-based insurance company operating in six states across the Midwest. Because it is a smaller company, it was not included in this or last year’s J.D. Power studies. However, Hastings has a below-average complaint index from the National Association of Insurance Commissioners (NAIC) for its home insurance product, which signals that customers are largely satisfied with the company. It is also rated A (Excellent) by AM Best and has over a billion in total assets as of 2023.
Why Hastings Mutual may best for pre-packaged coverage: Homeowners looking to take the guesswork out of crafting a custom policy may be interested in the Coverage Plus endorsements. This pre-built set of extras includes added protection like water backup, identity theft coverage, debris removal, lock replacement, coverage for refrigerated items and more.
| Bankrate Score | Not rated |
| J.D. Power | |
| AM Best Rating |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why American Family made our list: American Family, or AmFam for short, is a regional insurance company that writes home policies in 19 states. It offers some harder-to-find home insurance endorsements like hidden water damage, matching siding coverage, short-term rental coverage and senior living protection, to name only a few. The company also has an A (Excellent) rating from AM Best, which indicates that it is likely to make good on its insurance payouts.
Why American Family may be best for customer service: American Family scored above average in the 2024 U.S. Property Claims Satisfaction Study from J.D. Power and in both the service and shopping categories of the 2024 U.S. Insurance Digital Experience Study. Although AmFam scored a couple of points shy of the segment average in the 2023 U.S. Home Insurance Study, it does have a below-average NAIC Complaint Index for its home insurance product.
| Bankrate Score | 4.2 |
| J.D. Power | 638/1,000 |
| AM Best Rating | A |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why Allstate made our list: Allstate tied for the Best Home Insurance Company Overall in the 2024 Bankrate Awards for its 24/7 claims and customer service availability, highly rated digital tools, near-national availability and broad coverage endorsements. It is one of the largest home insurance companies in the country and has several agent offices in Columbus for in-person services.
Why Allstate may be best for customized property protection: Allstate offers a wide selection of optional coverage, especially for your personal property. On its website, the company advertises several different endorsements to enhance your personal property protection like scheduled personal property, sports equipment coverage, business property coverage and coverage for musical instruments.
| Bankrate Score | 4.2 |
| J.D. Power | 631/1,000 |
| AM Best Rating | A+ |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why State Farm made our list: State Farm is the largest home insurance company in the country and in the state of Ohio. State Farm General, an underwriting subsidiary of State Farm, was recently downgraded from an A (Excellent) to B (Fair) by AM Best. But, the company still has high third-party financial strength ratings from S&P and Moody’s. And State Farm General does not underwrite all State Farm home insurance policies.
Why State Farm may be the best for policy management options: State Farm could be a good choice for homeowners looking for a mix of strong digital tools and local agent offices. State Farm’s digital tools ranked above average in the J.D. Power 2024 U.S. Insurance Digital Experience Study, and its mobile app has 4.8 and 4.6-star ratings on the App Store and Google Play, respectively. Plus, there are ample offices spread throughout Columbus for convenient in-person service.
| Bankrate Score | 4.2 |
| J.D. Power | 643/1,000 |
| AM Best Rating | A++ |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Not rated
Why Grange Insurance made our list: Grange Insurance is not the same company as Grange Insurance Association; the latter specializes in homes in the Pacific Northwest and California. Grange Insurance’s home insurance offerings include standard coverage options and some extras, like assisted living care, personal cyber insurance and concealed water damage.
Why Grange Insurance may be the best regional insurance company: Grange has a 4.2 out of a possible 5.0 Bankrate Score — an impressive feat for a smaller insurer. Although its digital tools may not be as good as some national companies, its local presence might help make up for it.
| Bankrate Score | 4.2 |
| J.D. Power | |
| AM Best Rating | B++ |
Bankrate's trusted insurance industry expertise
Read our full methodologyBankrate knows that, for most homeowners, cost is a major consideration when choosing an insurance company. That is why we update the average rates displayed on this page every single month to help you make a more informed buying decision.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest home insurance companies in Columbus
The cost of living in Columbus is about 10 percent below the national average, according to data from PayScale. Housing costs, in particular, fall 20 percent below the national average. However, lower costs of living do not guarantee cheap home insurance costs. For homeowners on a tighter budget, Bankrate’s insurance editorial team found the cheapest home insurance companies in Columbus for a $300K dwelling policy. Based on our research, Buckeye State Mutual, Hastings Mutual and Auto-Owners offer the most affordable rates on average. Costs will change depending on your Columbus dwelling coverage limit.
|
|
|
|
|---|---|---|
|
Buckeye State Mutual
|
$47
|
$564
|
|
Hastings Mutual
|
$73
|
$880
|
|
$90
|
$1,079
|
|
|
$97
|
$1,159
|
|
|
|
|
|---|---|---|
|
Buckeye State Mutual
|
$50
|
$564
|
|
Hastings Mutual
|
$82
|
$880
|
|
$99
|
$1,079
|
|
|
$106
|
$1,159
|
|
|
|
|
|---|---|---|
|
Buckeye State Mutual
|
$54
|
$652
|
|
Hastings Mutual
|
$99
|
$1,189
|
|
$118
|
$1,418
|
|
|
$123
|
$1,472
|
|
|
|
|
|---|---|---|
|
Buckeye State Mutual
|
$67
|
$805
|
|
Hastings Mutual
|
$151
|
$1,811
|
|
$162
|
$1,947
|
|
|
$168
|
$2,012
|
How much is home insurance in Columbus, Ohio?
Home insurance costs in Columbus are on par with the statewide average. Our analysis of rate data from Quadrant Information Services found Columbus residents pay an average of $1,316 per year for a $300K home insurance policy in Ohio. This is close to the average cost of home insurance in Columbus, which is $1,334. That said, what you pay for a home insurance policy will depend on various rating factors that are unique to you. Things like your credit-based insurance score, how old your home is and the deductible you choose can all factor into your premium.
Columbus rates by credit tier
Typically, homeowners with good or excellent credit receive the cheapest rates. Insurance actuarial data show that homeowners with bad credit are more likely to file a claim, which can end up costing the insurance company money. Most insurance companies charge homeowners with poor or average credit higher rates to account for this added risk. The table below shows how credit tier affects rates for the five cheapest home insurance companies in Columbus.
|
|
|
|
|
|
|---|---|---|---|---|
|
Buckeye State Mutual
|
$878
|
$573
|
$564
|
$548
|
|
Hastings Mutual
|
$1,809
|
$1,001
|
$880
|
$759
|
|
N/A
|
$1,848
|
$1,079
|
$447
|
|
|
$2,249
|
$1,287
|
$1,159
|
$927
|
|
|
$2,689
|
$1,397
|
$1,262
|
$957
|
Columbus rates by home age
Older homes, like those found in Columbus’s historic Olde Towne East neighborhood, usually cost more to insure. After a covered claim or total loss, it can cost an insurance company more to get older buildings up to modern codes. Most insurers factor this added risk into a premium. You can compare average home insurance costs in Columbus from the top five cheap home insurance companies in the table below.
|
|
|
|
|
|
|
|---|---|---|---|---|---|
|
Buckeye State Mutual
|
$691
|
$661
|
$646
|
$611
|
$524
|
|
Hastings Mutual
|
$1,021
|
$1,021
|
$1,021
|
$1,005
|
$791
|
|
$1,212
|
$1,212
|
$1,219
|
$1,136
|
$1,032
|
|
|
$1,555
|
$1,518
|
$1,490
|
$1,316
|
$1,007
|
|
|
$1,332
|
$1,327
|
$1,349
|
$1,455
|
$999
|
Columbus rates by deductible amount
If home insurance costs are stretching your budget too thin, you might want to consider a high-deductible home insurance policy. By agreeing to more financial responsibility in the event of a claim, you may be rewarded with a cheaper rate. However, as a rule of thumb, most insurance experts suggest choosing a deductible amount you can afford to pay at a moment’s notice.
|
|
|
|
|
|---|---|---|---|
|
Buckeye State Mutual
|
$376
|
$726
|
$711
|
|
Hastings Mutual
|
$880
|
$880
|
$835
|
|
$1,072
|
$1,061
|
$1,051
|
|
|
$1,149
|
$1,140
|
$1,097
|
|
|
$1,229
|
$1,197
|
$1,037
|
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $300,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $30,000
- Coverage C, Personal Property: $150,000
- Coverage D, Loss of Use: $60,000
- Coverage E, Liability: $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000, $1,500, $2,000 or $5,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Credit: Rates were calculated based on the following insurance credit tiers assigned to our homeowners: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining home insurance rates: California, Maryland, Massachusetts.
Year built: Rates were calculated based on the following years built for homes and assigned to our homeowners: 1959, 1982, 1992, 2010, 2015 (base) and 2020.
Bankrate Score
Our 2024 Bankrate Score considers variables our insurance editorial team determined impact policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
