Best homeowners insurance companies in Ohio for 2024

Compare the best homeowners insurance companies in Ohio

The average cost of home insurance in Ohio is $1,312 per year for $300,000 in dwelling coverage, or about $109 per month. But several companies in the Buckeye State offer lower average rates. Based on Bankrate's analysis of rates from Quadrant Information Services, third-party customer service scores from the J.D. Power 2024 U.S. Home Insurance Study, financial strength ratings from AM Best and other factors, we found that the best home insurance companies in Ohio are Allstate, State Farm, Auto-Owners, American Family and Buckeye State Insurance. These providers stand out for their low average rates, discount opportunities and solid third-party ratings.

If you are shopping for the best Ohio homeowners insurance options, the following companies might be a good starting point. For reference, the average J.D. Power index rating is 640 out of 1,000 points in the 2024 home insurance study.

The top 5 home insurance companies in Ohio

Additional Ohio home insurance companies to consider

Grange

Nationwide

How Bankrate chose the best home insurance companies in Ohio

Bankrate chose the best Ohio homeowners insurance companies by comparing average rates, third-party rankings, coverage options, discount opportunities and customer satisfaction among carriers available in the state. To help shoppers choose a provider that is right for them, our Bankrate Score weighs average cost, customer satisfaction ratings, coverage, discounts and financial strength scores on a scale of 0.0 to 5.0 points, with 5.0 being the highest possible score. The higher the rating, the more the company excels in each category.

Cheapest home insurance companies in Ohio

Finding affordable home insurance in Ohio, as with anywhere, can be a nuanced process. While no single approach guarantees the best deal, actively seeking out and comparing home insurance quotes in Ohio can offer homeowners a broader perspective on the market. By exploring various offers, particularly from providers known for competitive rates, one might uncover a policy that balances comprehensive coverage with cost-effectiveness. We compiled a list of the cheapest carriers in Ohio using average rate data from Quadrant Information Services.

How to get cheap Ohio home insurance

Many Ohio homeowners may be looking to save on insurance costs. Although home insurance isn’t mandatory, it’s often an essential tool to provide financial security in the event your home is damaged by a covered loss. Consider these steps when looking for the best cheap home insurance in Ohio:

1. Understand your coverage needs. Not every home or homeowner has the same coverage needs. Working with a local agent can help you identify what coverage options are best for you and your home.
2. Know your home. When you get a quote for home insurance, there are pertinent details you need to know about your home. These include the year it was built, the square footage and the age of home appliances. You may also be asked about structures like the roof and systems like plumbing and heating. In addition, make note of any upgrades or remodeling and the year it was completed, as well as any unique characteristics or features.
3. Get several quotes. Finding cheap home insurance often means comparing quotes. Getting quotes from different carriers for the same coverage levels can help you find the carriers with the most affordable rates.
4. Ask about coverage options and discounts. During the quoting process, don’t be afraid to ask questions. Find out what coverage options the company offers and what discounts are available to you. Knowing what you’re eligible for can help you narrow down your choices for the best cheap home insurance in Ohio.

Best home insurance discounts in Ohio

Although discounts vary by company, these are some of the most common home insurance discounts in Ohio that you may be eligible for:

How to save on home insurance policy renewals in Ohio

Renewing your home insurance policy in Ohio provides an excellent opportunity to reassess your coverage and potentially find ways to reduce costs. By proactively engaging in the renewal process and exploring different strategies, Ohio homeowners might discover ways to achieve more favorable rates.

• Look for applicable discounts: Your situation or your home's features might have changed over the years. This could qualify you for new discounts. Some changes to keep in mind include new security features, roof upgrades or potential bundling opportunities.
• Compare quotes from other carriers: Before committing to a renewal, it might be worthwhile to gather home insurance quotes from other providers in Ohio to see if there's a more competitive rate available.
• Reconsider your coverage selections: As your life evolves, your coverage needs may change. Adjusting your policy's limits or considering dropping certain coverage types if they're no longer necessary might be beneficial.

How much is home insurance in Ohio?

On average, Ohio homeowners insurance costs $1,312 per year for $300,000 in dwelling coverage, which is 43 percent less than the national average of $2,304 per year. Reasonably priced home insurance is relatively common in the Midwest. For example, homeowners in Indiana pay an average of $1,717 annually for the same amount of coverage, and Wisconsin homeowners pay an average of $1,198 annually.

While the likelihood of year-round storm damage is relatively high in Ohio, the state does not face the same level of risks as many other areas in the U.S. Unlike portions of the Western United States, 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

Within Ohio, home insurance premiums can fluctuate by city and even ZIP code. Rate differences can be attributed to local crime rates, weather patterns, material and labor costs, geographic exposure to risks and the overall value of homes in a particular area. While statewide averages provide a broad overview, delving into city-specific data offers a more nuanced understanding. As you navigate through the subsequent map and accompanying searchable data table, you'll gain insights into how various cities across Ohio compare in terms of insurance costs.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Ohio?

Understanding Ohio risk factors and standard home insurance coverage types may help you better insure your Ohio home. Below are some of the common causes of loss in Ohio that are covered by a standard HO-3 home insurance policy.

• Weight of snow and ice: Ohio experiences some severe winter weather. Standard home policies cover damage from the weight of snow and ice as well as burst pipes from freezing conditions.
• Fallen trees: Wind and thunderstorms in Ohio may result in fallen trees or branches. If your roof and/or gutters are damaged from a falling tree, your policy will typically kick in to help you pay for necessary repairs. Other falling objects, including hail, may also be covered.
• Theft and vandalism: Standard home policies cover damage and stolen items after a theft or vandalism incident.
• Fire and smoke: Your home policy should cover damage from fire and smoke in the case of a house fire or wildfire. Note that some wildfire-prone areas may have coverage limitations.
• Liability coverage: This coverage kicks in to help cover legal expenses, up to your policy limits, in the event someone is injured on your property and sues you.
• Guest medical payments: If someone who does not live in your home gets hurt on your property, guest medical payments can help cover their medical expenses, even if you are not at fault for their injuries.

Learn more: What does homeowners insurance cover?

Additional home insurance coverage types in Ohio

Homeowners insurance is designed to financially protect you from having to repair or replace your home after a covered loss. Ohio experiences tornadoes, winter storms and flooding, which may make these coverage options valuable for Ohio homeowners:

• Wind coverage: Standard homeowners insurance policies in Ohio typically include coverage for damage caused by high winds from convective storms and tornadoes, but you may want to confirm this with your agent due to the state’s risk level.
• 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 flood insurer. A few home insurance providers offer this coverage as an endorsement.

Risk factors can vary greatly based on where you live and your home's characteristics. Speaking with a licensed insurance agent may help ensure you've addressed all potential coverage gaps in your home policy.

Common Ohio home insurance problems

Ohio homeowners face a unique set of challenges when seeking home insurance, influenced by the state's distinct climate, geography and socio-economic factors. Here are some potential hurdles homeowners may encounter:

• Weather-related concerns: Ohio is susceptible to tornadoes, especially in the western and northern regions of the state.
• Aging infrastructure: Some homes in Ohio, especially in older cities, might not meet certain insurers' criteria without significant renovations. Homeowners with older homes may be interested in carriers that offer ordinance or law coverage. This add-on covers the additional cost required to bring a home or home system up to code after a covered loss.
• Mine subsidence: Ohio is home to more than 4,000 abandoned coal mines. Some counties have mandatory coverage laws, where the state requires standard residential policies to cover subsidence damage. However, some homeowners may need a mine subsidence endorsement.

Frequently asked questions

Additional profiles:

• Coverage A, Dwelling: $150,000, $350,000, $450,000
• Coverage B, Other Structures: $15,000, $35,000, $45,000
• Coverage C, Personal Property: $75,000, $175,000, $225,000
• Coverage D, Loss of Use: $30,000, $70,000, $90,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

Bankrate Scores 

Our Bankrate Score considers variables our insurance editorial team determined impacts 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.