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How to find affordable homeowners insurance in Toledo

Home insurance is an important part of owning a home. Fire, vandalism, theft, and wind damage are just a few of the perils from which homeowners insurance can protect your dwelling and other personal belongings. Given the relatively frequent occurrence of these incidents and the significant cost of replacing a home, having a home insurance policy is a solid investment. The average homeowners policy costs $97 per month in Toledo, Ohio. 

The cost of homeowners insurance coverage depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. The location of your home also contributes to the price of your homeowners insurance policy. In areas prone to perils like hail, frozen pipes, volcanoes, or fire, home insurance rates may be higher to account for the extra risk. Learn more information about what is covered by a homeowners insurance policy.

If you want to find cheap home insurance in Toledo, start with looking around and comparing policies. Take a look at the summary below showing average home insurance premiums in Toledo to help you get as much information as possible when you start your search for homeowners insurance. One thing to note is that the yearly cost of home coverage is determined based on your chosen coverage limits as well as a number of other rating factors.

 
Table of contents:
  1. Rates by insurer
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling savings

 

Toledo home insurance by company

Toledo homeowners insurance rates will vary depending on which insurance company you choose. The most affordable home insurance in Toledo is Cincinnati Insurance offering average annual rates at just $745 per year. This is considerably cheaper than the city’s average homeowners premium of $1,170.

Take a look at the cheapest home insurance companies in Toledo, Ohio to find the best homeowners policy for your needs.

 
AFFORDABLE HOME INSURERS IN TOLEDO
Company Average Annual Rate
Cincinnati Insurance $745
Farmers $855
Travelers $900
AAA $951
Grange Insurance $1,005

 

Toledo homeowners insurance prices by coverage level

The amount of homeowners coverage you select has an impact on the insurance premiums you pay. Homeowners in Toledo who carry $200K in dwelling coverage pay an average of $838 per year, while those with coverage up to $400K pay around $1,543 per year.

 
POPULAR COVERAGE LIMITS IN TOLEDO
Coverage Level Average Annual Rate
$100,000 Dwelling $593
$200,000 Dwelling $838
$250,000 Dwelling $1,051
$400,000 Dwelling $1,543

 

Toledo home insurance rates by ZIP code

Home insurance costs can vary depending on what part of Toledo in which you live. One of the factors that insurers use when pricing your policy is the number of claims filed in your surrounding area. As such, your neighborhood's location can dramatically affect your home insurance premium.

The cheapest home insurance rates in Toledo are available in 43615. In 43615, the typical home insurance policy costs $1,131 per year — $39 less than the citywide average in Toledo. Find the best places to live in Toledo for cheap home insurance by looking at the table below.

 
AFFORDABLE HOME INSURANCE AREAS IN TOLEDO
ZIP Code Average Annual Home Insurance Rate
43615 $1,131
43617 $1,132
43623 $1,134

Other parts of Toledo, however, have home insurance costs that are higher on average. Crime rates, fire risk, and even your proximity to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. With an annual average premium of $1,216, 43604 comes in as the costliest ZIP code in Toledo for homeowners insurance.

 
EXPENSIVE HOME INSURANCE AREAS IN TOLEDO
ZIP Code Average Annual Home Insurance Rate
43604 $1,216
43620 $1,216
43607 $1,215

 

Toledo homeowners insurance deductibles

Among the plethora of options faced by homeowners when shopping for an insurance policy is how high or low to set the deductible. A deductible is an amount for which a homeowner is responsible before an insurance company steps in to cover costs. The deductible that you decide on can have a big impact on home insurance rates.

Put simply, having a higher deductible leads to cheaper insurance premiums. Therefore, if you need your home insurance rates to be lower, you'll need to keep your deductible higher. It's worth mentioning that your deductible should only be as high as you can reasonably pay in the case of an actual loss.

The following chart illustrates the typical rates affiliated with deductibles offered by most home insurers.

 
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN TOLEDO
Deductible Level Average Annual Homeowners Insurance Rate
$500 $1,155
$1,000 $1,051
$1,500 $988
$2,000 $934
$5,000 $786

 

Home and auto insurance bundling in Toledo

If you’re searching for ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling home and auto insurance can be a good money-saving option. Bundling policies in Toledo could, in fact, lead to average annual savings of 10%.

 
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN TOLEDO
Company Avg. Annual Auto Insurance Rate (With Bundle)
Erie $731
GEICO $755
State Farm $804
Progressive $945
Nationwide $1,123

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Ross Martin photo
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.

  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.