Best homeowners insurance in Ohio

Everything you need to know about the cost of homeowners insurance by company and city, the state’s best insurance companies, and top-of-mind coverage considerations for Ohio homeowners.

Pat Howard 1600

Pat Howard

Published March 10, 2020

KEY TAKEAWAYS

  • Homeowners insurance in Ohio is the 7th cheapest in the country with an $862 average annual premium

  • Insurance premiums in Columbus, Cleveland, and Cincinnati cost on average between $1,200 and $1,400 for $300,000–$600,000 in coverage, according to Policygenius data

Ohio might not be 70 and sunny all year round, but the state doesn’t have a whole lot to worry about in terms of catastrophic weather and natural disasters. The absence of extreme weather and a rather predictable climate make homes in the Buckeye State a rather low-risk bet for insurance companies, which explains why insurance premiums in Ohio are so low. Ohio homeowners insurance is the 7th cheapest in the country, with an $862 average annual premium. For context, the national average is $1,211.

Nevertheless, Ohio homeowners will want to keep in mind the quality of their home coverage as well as the financial health and claims service of their insurance company. Tornado season in Ohio has been fairly active two out of the last three years. And house fires and break-ins happen whether you live on the coast, in a wildfire area, or in a Rust Belt state like Ohio.

Find out the cost of homeowners insurance in Ohio’s biggest three metropolitan areas; the top ten insurance companies in Ohio by market share, and a briefer on specific homeowners insurance considerations for Ohio homeowners.

IN THIS ARTICLE

Best homeowners insurance companies in Ohio

When selecting a homeowners insurance policy, Ohio homeowners will want to look at far more than simply the cost of coverage. Consider the insurer’s financial standing with credit agencies like A.M. Best, customer service and claims ratings with J.D. Power, and the price for the level of coverage you’re getting, amongst other factors. A company that offers flexible policy options and numerous discounts to keep those premiums low should be a top priority for Ohio homeowners.

The table below looks at the 10 most popular insurers (companies with the highest market share) in the Buckeye State, along with respective A.M. Best ratings, J.D. Power ratings, and Policygenius full-scale company ratings. Here’s more information about the Policygenius home insurance reviews methodology:

Insurance companyA.M. Best ratingJ.D. Power ratingPolicygenius rating
AllstateA+3/57.4/10
American FamilyA+3/58.5/10
Cincinnati FinancialA+N/AN/A
ErieA+5/5N/A
GrangeA-N/AN/A
NationwideA+2/57.7/10
Safeco (a division of Liberty Mutual)A+2/57.3/10
State FarmA++4/58/10
USAAA++5/58.7/10
WestfieldAN/AN/A

➞ And be sure to check out our guide on the best homeowners insurance companies in the country

How much does homeowners insurance cost in Columbus?

The average annual cost of homeowners insurance in the Columbus area is $1,281 for a home with $330,000 in dwelling coverage, according to Policygenius quoting data. While that’s higher than the state average premium of $862, keep in mind that the average policy cost for an Ohio home with $300,000–400,000 in coverage is anywhere from $1,000 to $1,200, according to the National Association of Insurance Commissioners — Columbus insurance costs don’t differ too much from the state average at that level of coverage.

➞ Check out our guide to the best homeowners insurance in Columbus.

Columbus homeowners insurance cost by company

Insurance companyAverage annual premium
Hippo$1,155
Metlife$1,289
Nationwide$1,346
Safeco$1,376
Stillwater$1,234
Travelers$1,122

Columbus homeowners insurance cost by ZIP code

Zip codeAverage annual premium
43015 (Delaware)$996
43026 (Hilliard)$941
43081 (Westerville)$1,146
43082 (Canal Winchester)$1,514
43110$1,305
43202$1,180
43205$1,598
43207$1,059
43209$1,746
43212$1,080
43221$1,807
43223$596
43228$1,445
43229$717
43230$1,188
43231$1,262
45011$1,942
45044 (Liberty Township)$1,537
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How much does homeowners insurance cost in Cleveland?

The average annual cost of homeowners insurance in the Cleveland area is $1,300 for a home with $300,000 in dwelling coverage, according to Policygenius quoting data. Like Columbus, homeowners insurance in Cleveland is more expensive than the state average cost of $862, but the insured values of Cleveland homes may simply be higher than the average dwelling coverage amount in Ohio.

Cleveland homeowners insurance cost by company

Insurance companyAverage annual premium
Hippo$748
Metlife$1,585
Nationwide$1,235
Progressive$771
Safeco$1,209
Stillwater$866
Travelers$625

Cleveland homeowners insurance cost by ZIP code

ZIP codeAverage annual premium
44103$1,327
44106$1,083
44113$931
44118$1,762
44125$1,613
44144$1,093

How much does homeowners insurance cost in Cincinnati?

With a $1,345 average annual premium, Cincinnati rates are higher than Columbus and Cleveland, but for an average quoted dwelling amount of $600,000, that’s actually fairly cheap.

Cincinnati homeowners insurance cost by company

Insurance CompanyAverage annual premium
Hippo$1,154
Liberty Mutual$763
Metlife$1,192
Nationwide$1,692
Safeco$1,543
Travelers$1,240

Cincinnati homeowners insurance cost by ZIP code

ZIP codeAverage annual premium
45202$1,571
45208$1,328
45212$1,428
45220$1,783
45227$722
45229$1,684
45230$1,419
45231$728
45233$823
45236$832
45237$739
45238$1,639
45239$1,775
45241$1,085
45242$925
45243$919
45248$1,499

Ohio homeowners insurance guide

Ohio may not experience an abundance of disasters, but it’s still a northern state with all four seasons. Burst pipes, seasonal flooding, and human-induced perils like theft and vandalism can all be costly for Ohio homeowners, so you should make sure you’re properly insured in every area of your policy.

Homeowners insurance covers tornadoes

Ohio saw 44 tornadoes in 2017, 19 in 2018, and 58 tornadoes in 2019 — including an E4 tornado that ripped through Montgomery County in late May and caused close to $500 million in property damage. While most homeowners insurance companies in Ohio will cover windstorm damage — including damage caused by tornadoes — you should be sure you have additional structural protection like extended or guaranteed replacement cost coverage if you live in a particularly at-risk area on the southern half of the state.

Homeowners insurance doesn’t cover flooding or earthquake damage

It was only three years ago when former Ohio Governor John Kasich issued an emergency declaration because of intense flooding in the southern and eastern part of the state. Flooding is a serious and expensive problem whether you live on the coast or a land-locked state like Ohio, but it’s not covered by homeowners insurance. To get covered, you have a couple of options: you can get flood insurance through the federal government’s National Flood Insurance Program or you can add flood coverage onto your home insurance policy if it’s offered by your insurer. Flood insurance in low-risk areas costs as low as $200 a year and is a worthy investment for Ohio residents who live in areas recently impacted by flooding.

Homeowners insurance also doesn’t cover damage caused by earthquakes. And although Ohio hasn’t had a big quake in over 100 years, it still experiences small quakes from time to time. If you live in a seismic zone in Northeastern Ohio or Western Ohio, you may want to consider earthquake coverage for your home. Like flood insurance, earthquake coverage can often be added to your home policy in the form of a coverage endorsement and are fairly low cost if you live in a low-risk region.

Mine subsidence coverage

Homeowners insurance typically doesn’t cover homes that are damaged or destroyed because of ground movement from underground mines. You typically need to add a mine subsidence coverage endorsement to your policy for an added policy cost. Ohio operates a little differently — actually requiring insurance companies to include coverage from mine subsidence in 26 counties due to the over 4,000 abandoned coal mines across the state. In addition to the 26 counties where companies have automatic mine subsidence coverage, 11 counties have optional coverage for no additional premium.

Ohio FAIR Plan

If you’re having a hard time finding homeowners insurance coverage on the private market — either because your credit is bad, your home is in bad shape, or you have a frequent loss history — you can get covered through an Ohio Fair Access to Insurance Requirements, or FAIR Plan. Despite having less coverage, Ohio FAIR Plans are typically more expensive than private insurance and only provide basic bare-bones coverage with “actual cash value” reimbursement terms, meaning you’ll only be reimbursed for the depreciated value of the damaged structure or property. A FAIR Plan should be a last-resort option for homeowners.

Additional resources for Ohio homeowners

Not where you live? We've got you covered, check out our guide to homeowners insurance in your state

About the author

Insurance Expert

Pat Howard

Insurance Expert

Pat Howard is an Insurance Editor at Policygenius in New York City, specializing in homeowners insurance. He has been featured on Property Casualty 360, MSN, and more. Pat has a B.A. in journalism from Michigan State University.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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