Ohio homeowners insurance: what you need to know
The average cost of home insurance in Ohio is $1,265 per year or $105 per month. Our data shows that Ohio residents pay 5% less than the national average for homeowners insurance. The easiest way to find a cheap homeowners insurance policy in Ohio is to compare rates from a variety of insurance companies.
Unlike car insurance, homeowners insurance isn't regulated by state legislation. Even so, significant gaps exist in home insurance rates on a state-by-state basis. Policy prices in states may vary based on the total number and value of homeowners claims filed in that particular state, and depend on the value of the belongings and structures covered by the policy.
Learn how much home insurance costs in Ohio by referencing the below data. Remember: your rates may differ, depending on your coverage limits.
Table of contents:
- Rates by company
- Rates by coverage amount
- Rates by deductible amount
- Rates by city
- Bundling savings
- Frequently asked questions
- Natural disaster coverage
The cheapest home insurance companies in Ohio
Home insurance prices in Ohio vary based on the insurance company you use. Cincinnati Insurance underwrites the most affordable home insurance in Ohio — only $891 per year. This beats Ohio's mean rate of $1,265, which is $373 less than average.
Start looking for home insurance by reviewing the best-priced home insurance companies in the Buckeye State, listed below.
AFFORDABLE HOME INSURERS IN OHIO
| Insurance Company | Average Yearly Rate in Ohio |
| Cincinnati Insurance | $891 |
| Farmers | $954 |
| AAA | $994 |
| American Family | $1,062 |
| Erie | $1,091 |
Ohio home insurance prices by coverage levels
How much you pay for home insurance coverage is greatly impacted by the level of coverage you choose. In Ohio, carrying $200,000 dwelling coverage costs an average of $924 per year, while maintaining coverage up to $400,000 costs as much as $1,440 per year.
POPULAR COVERAGE LIMITS IN OHIO
| Coverage Level | Average Annual Cost |
| $100,000 Dwelling | $564 |
| $200,000 Dwelling | $924 |
| $250,000 Dwelling | $993 |
| $400,000 Dwelling | $1,440 |
Homeowners insurance deductibles in Ohio
One of the decisions available when shopping for a homeowners policy is where to set your deductible. The deductible is the total amount that the insured must contribute toward a covered loss. The deductible level you choose can major impact on your homeowners insurance rates.
On the whole, having a lower deductible means that your insurance rates will be higher. This means that those aiming for lower insurance costs will want to seriously consider a higher homeowners deductible. Remember that your deductible should not be so high that you would struggle to pay it in the event of a loss.
The table below illustrates the typical premium costs associated with deductibles offered by most home insurers.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN OHIO
| Deductible Tier | Average Annual Homeowners Insurance Rate |
| $500 | $1,091 |
| $1,000 | $993 |
| $1,500 | $934 |
| $2,000 | $883 |
| $5,000 | $740 |
Ohio homeowners insurance costs by city
Not all Ohio cities have the same insurance rates. Prices may depend on city-specific variables, including the likelihood of weather-related claims in the area, meaning your specific ZIP code impact how much you pay.
The cheapest homeowners insurance in Ohio is found in Cuyahoga Falls. An average homeowners insurance policy in Cuyahoga Falls costs just $971 per year — $294 less than the statewide average. The below cities have the most affordable home insurance in Ohio.
CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN OHIO
| City | Average 12-Month Home Insurance Rate |
| Cuyahoga Falls | $971 |
| Parma | $972 |
| Strongsville | $992 |
| Lorain | $998 |
| Lakewood | $1,010 |
Looking for info on homeowners insurance in a specific city? Check out our breakdown of significant Ohio cities:
Home and auto insurance bundling in Ohio
If you’re seeking ways to save on your insurance expenditures, consider purchasing both your homeowners and auto insurance policies from one company. Bundling auto and home insurance in Ohio can lead to substantial savings on car insurance. Bundling home and auto policies in Ohio may result in yearly savings of $95.
HOME AND AUTO BUNDLING DISCOUNTS IN OHIO
|
Avg. Annual Rate (No Bundle) |
Avg. Annual Rate (w/ Bundle) |
Annual Savings ($) |
Annual Savings (%) |
| $1,009 | $914 | $95 | 10% |
Ohio homeowners insurance FAQs
Does home insurance cover foundation problems in Ohio?
If your foundation is damaged as a result of a covered peril — tornado, fire, etc. — your homeowners insurance should cover it. However, this is not always the case. Flood damage and earthquake damage are not typically covered under standard homeowners policies. As such, foundation problems arising due to these perils will not be covered. Also, standard homeowners policies don't cover wear and tear, meaning that cracks and other problems need to be addressed before they become much bigger issues.
Do you have to have home insurance in Ohio?
The state of Ohio does not require you to carry homeowners insurance, but the coverage is highly recommended in order to protect you and your investment. Furthermore, your mortgage lender is highly likely to require it as a stipulation in the lending agreement.
Natural disaster coverage in Ohio
Does homeowners insurance cover flooding in Ohio?
Regardless of its cause, flood damage is not covered by homeowners insurance policies. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer.
Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:
- $250,000 for your home’s structure
- $100,000 for your personal property
If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.
