The Best Cheap Homeowners Insurance in Columbus, Ohio for 2024: Quotes and Reviews

There are plenty of companies that offer the same core coverages at different price points, which is why it’s important to scrutinize costs when looking for cheap homeowners insurance.

On average, the companies offering cheap homeowners insurance in Columbus with a baseline dwelling coverage of $100,000 are:

• Travelers: $475 per year
• Erie: $685 per year

The appropriate dwelling coverage depends on the home. In other words, pricier homes will require more coverage. MoneyGeek found that the companies offering cheap home insurance with $2 million in dwelling coverage, on average, are:

• American Family: $4,069 per year
• USAA: $4,393 per year (only available for former and current military members and their families)

The table below shows how annual premiums can change based on varying dwelling coverage limits.

Prices for policies with the initial baseline dwelling coverage have $40,000 in personal property limits, while those with $2 million in dwelling coverage have $800,000 in personal property limits. All policies included $100,000 in liability coverage.

Homeowners located elsewhere within the state can also take a look at MoneyGeek’s analysis on the cheapest homeowners insurance in Ohio.

The average cost of homeowners insurance differs from state to state and city to city. In Columbus, the average stands at $960 per year. This is $22 higher than the state average of $938. Compared to the rest of the nation, however, Columbus residents pay less, with the nation’s average being $2,103 per year.

There is no one-size-fits-all price for home insurance, as it depends on a number of factors such as location, dwelling and personal property coverage, deductible amounts, credit score and more. To compare home insurance quotes, Columbus residents can use MoneyGeek’s home insurance calculator, which shows low-end to high-end prices based on your desired coverages.

The best homeowners insurance balances both quality and cost. Homeowners will want to ensure that they choose insurance companies that can handle their claims fairly and efficiently, as they are often made during stressful times.

MoneyGeek’s study found that the companies offering the best homeowners insurance in Columbus are:

• Best Overall: USAA (only available for current and former military members and their families)
• Runner-up: Travelers

These companies were examined based on three factors, including affordability, user satisfaction and financial stability.

Newer homes are much cheaper to insure as the modern materials used are more resistant to damage and easier for insurers to replace. Homeowners are also less likely to make a claim due to the newness of the home.

In Columbus, newer homes cost an average of $709 per year to insure, compared to the average of $960 for homes built in 2000.

On average, companies that offer cheap homeowners insurance in Columbus for newly-built homes are:

• Travelers: $335 per year
• Erie: $452 per year

Homeowners insurance comes with personal property coverage, which helps protect the resident’s personal items. Those with high-value items or who want to cover more property can expect to pay more annually.

In Columbus, getting personal property limits of $250,000 costs $1,048 on average, while limits of $100,000 costs $960 per year.

On average, the cheapest insurers in Columbus with personal property limits of $250,000 include:

• Travelers: $512 per year
• Erie: $891 per year

Before making a claim, policyholders need to pay a deductible. This is money out-of-pocket required before an insurer can cover a claim. The higher the deductible, the lower the annual premiums and vice versa.

For instance, in Columbus, a policy with a $2,000 deductible costs an average of $866 per year, $94 less than the average rate of $960 for a $1,000 deductible.

On average, MoneyGeek’s study found that these companies offer the cheapest policies with a higher deductible of $2,000:

• Travelers: $435 per year
• Erie: $636 per year

In the state of Ohio, insurers factor in a homeowner’s credit score when determining their annual premiums.

Poor credit holders are likely to pay more, as it costs an average of $1,946 per year for those with bad credit. This is $986 more than the average of $960 for those with a decent credit standing.

Regardless, there are still companies that offer cheap homeowners insurance in Columbus for those with bad credit. On average, the cheapest insurers are:

• Travelers: $1,152 per year
• American Family: $1,171 per year

Columbus residents who want to buy homeowners insurance need to prepare a list of information before getting home insurance quotes online. This includes, but is not limited to:

• The replacement cost of your home: Insurers will want to know how much it will cost to rebuild your home. For those with older homes, construction professionals can help provide an estimate.
• The value of your personal property: Since personal property coverage is part of homeowners insurance, stating the value of your personal property can help determine the appropriate limits.
• Personal information: This involves information on the house, such as the address and the people who live in it, along with personal information such as insurance history, credit score and other details.
• Information about your house: This includes more technical information on the house such as when it was built, its size, the security systems in place and more.

Nine insurers in Columbus, Ohio, were analyzed by MoneyGeek using a sample homeowners profile. This homeowner had a home built in 2000 with 2,500 square feet. The sample profile also looked for $100,000 in dwelling coverage, $40,000 in personal property coverage, $100,000 in liability coverage and a $1,000 deductible.

To get more information for homeowners of varying circumstances, MoneyGeek also got prices for homeowners with newly constructed homes, higher dwelling or personal property limits, higher deductibles and bad credit scores.

MoneyGeek collected data in partnership with Quadrant, while customer satisfaction information was taken from J.D. Power user surveys. Quotes were also collected for homes with varying coverage levels in mind to calculate for affordability scores.