Toledo, OH Homeowners Insurance
Learn more about how to find affordable homeowners insurance in Toledo.
Learn more about 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 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.
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 insurance companies in Toledo, Ohio to find the best homeowners policy for your needs.
| Company | Average Annual Rate |
| Cincinnati Insurance | $745 |
| Farmers | $855 |
| Travelers | $900 |
| AAA | $951 |
| Grange Insurance | $1,005 |
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.
| Coverage Level | Average Annual Rate |
| $100,000 Dwelling | $593 |
| $200,000 Dwelling | $838 |
| $250,000 Dwelling | $1,051 |
| $400,000 Dwelling | $1,543 |
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.
| 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.
| ZIP Code | Average Annual Home Insurance Rate |
| 43604 | $1,216 |
| 43620 | $1,216 |
| 43607 | $1,215 |
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.
| Deductible Level | Average Annual Homeowners Insurance Rate |
| $500 | $1,155 |
| $1,000 | $1,051 |
| $1,500 | $988 |
| $2,000 | $934 |
| $5,000 | $786 |
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%.
| Company | Avg. Annual Auto Insurance Rate (With Bundle) |
| Erie | $731 |
| GEICO | $755 |
| State Farm | $804 |
| Progressive | $945 |
| Nationwide | $1,123 |
A great way to save on insurance is to bundle your home and auto policies with the same insurance company.
