Average Costs and Cheapest Homeowners Insurance Companies in Ohio

The cheapest home insurance provider for you can change based on various factors. Travelers offers the most affordable home insurance in Ohio overall, and for newer houses, pool owners and homeowners with poor credit ratings. Meanwhile, American Family offers the cheapest rates if you’re insuring an expensive home.

MoneyGeek evaluated thousands of quotes in Ohio to come up with average rates and help you find the most affordable policies for your profile.

If you’re looking to balance affordability with a strong service experience, MoneyGeek also scored the best home insurance companies in Ohio.

In looking for the most affordable homeowners insurance in Ohio, MoneyGeek averaged thousands of quotes from various insurers and for different base coverages. Our analysis shows Travelers offers the cheapest insurance at $487 per year on average, with a baseline dwelling coverage of $100,000.

The cheapest homeowners insurance premiums, per dwelling coverage, are offered by the following insurers in Ohio:

• Cheapest for $100,000: Travelers, $487 per year
• Cheapest for $250,000: Travelers, $974 per year
• Cheapest for $500,000: American Family, $1,668 per year

How much dwelling coverage you need depends on the replacement cost of your home. You’ll need more coverage if you’re insuring an expensive house. Use the table to determine how dwelling coverage levels affect insurance costs.

Your home insurance cost is determined in part by the amount of dwelling coverage you choose.

In Ohio, the average cost of home insurance is $938 per year for a homeowners policy with baseline dwelling coverage of $100,000. For $3 million in coverage, the average cost of homeowners insurance in Ohio is $20,780 per year.

While higher coverage is more expensive, it provides more protection.

Insurance companies check area-related risks and look into your circumstances to estimate homeowners insurance in Ohio. They consider your home’s dwelling value, its age, the roof quality, your location and how far it is from a fire station. Other factors include if you have an aggressive dog breed, whether you have a pool, and the deductibles you choose.

You can adjust your coverage limits, deductible and other limits based on your needs to see how the average cost of homeowners insurance in Ohio changes.

MoneyGeek studied thousands of quotes for different dwelling coverages to help you find the cheapest homeowners insurance in Ohio.

If you own a high-value property and are looking for $2 million in dwelling coverage, the cheapest homeowners insurance companies in Ohio are:

• American Family: $4,675 per year
• Farmers: $5,298 per year

USAA offers insurance for that coverage at an average of $4,727 per year; however, it is exclusive to military members and their families.

Insurance rates can vary greatly for expensive homes. The best way to find the lowest price is to shop around and compare quotes from various Ohio home insurance providers.

MoneyGeek evaluated thousands of offers from different insurance providers in Ohio to help you find the most affordable newer-home insurance. To estimate rates, our team used a sample home built in 2015 with $250,000 in dwelling coverage.

Our analysis shows that your cheapest options if you have a newer home in Ohio with $250,000 in dwelling coverage, are:

• Travelers: $700 per year
• Erie: $705 per year

Your house’s age can affect the price of your homeowner’s insurance. For example, if you have a home built in 2015, you’ll pay approximately $872 per year for insurance. That’s $313 less compared to someone whose house was built in 2000.

Keep in mind that our figures for homes built in 2000 vary from the first section in this guide due to a different ZIP code collection process.

On average, you’ll pay $872 per year for insuring a newer house in Ohio. If you’re insuring a home built in 2000, on the other hand, you’ll pay roughly $1,185 per year.

Because older homes are more expensive to repair and replace, it costs more to insure them. Such houses are constructed with older materials and under older codes, so can be less resistant to fire and weather events, increasing the likelihood of a claim. Because of that, insurance companies charge more if you’re insuring an older house.

MoneyGeek obtained thousands of quotes to identify the most affordable insurance in Ohio for homeowners with pools.

If you have a home with a pool in Ohio, our pick for the cheapest insurers are:

• Travelers: $1,002 per year
• Farmers: $1,101 per year

Having a pool increases your home’s value and potential repair costs, making them more expensive to insure. However, keep in mind that not all companies include in-ground pools on their dwelling coverage, and most providers categorize above-ground pools as personal property. Still, a pool can be a liability hazard. As a result, you will need additional liability coverage for pool-related injuries or accidents.

In Ohio, a pool can affect the cost of your home insurance, although usually, it’s not a large difference. For homeowners insurance with $250,000 dwelling coverage, for example, you’ll pay on average $1,199 per year if your home has a pool. If you don’t have a pool, the average annual cost of insurance is $1,185.

MoneyGeek analyzed thousands of home insurance quotes from various providers in Ohio to help you find an affordable policy if you have a poor credit score.

Based on our study, the cheapest home insurance in Ohio for homeowners with $100,000 dwelling coverage and with poor credit is offered by:

• Travelers: $1,211 per year
• Erie: $1,272 per year

A poor credit score can significantly increase your home insurance costs. This is because insurance companies use credit-based insurance scores to determine an individual’s risk and how likely a person is to file a claim.

Your credit background affects the cost of your home insurance. Insurance providers may consider you safer to insure if you have a good credit score and, as a result, charge less for your home insurance.

In Ohio, you’ll pay around $3,162 per year for home insurance if you have a poor credit score. With a good score, your annual average payment is $1,494 per year. As such, your credit score can affect your premiums by up to $1,668.

Your location in Ohio can also impact your home insurance cost and which provider is the cheapest for you.

MoneyGeek’s analysis found that residents of Cleveland pay the least for home insurance in the state, while homeowners in Toledo pay the most, with Columbus and Cincinnati in the middle. At an average of $934 per year, Erie provides the most affordable home insurance in Cincinnati, while Travelers offer the cheapest rates for homeowners in Cleveland, Columbus and Toledo.

You can click your city to learn more about how your location affects your insurance rates.

To get a binding home insurance quote from insurance providers in Ohio, you’ll need to provide personal details such as your name, address and social security number. You’ll also be asked questions about your house: its age and current value, the dollar amount of your personal property, the materials used in construction, the type of home and its current condition, its replacement and other information.

Remember to inform the insurance company about your home’s special features, such as energy-saving or home security systems, since these can help lower your premium prices.

You can use MoneyGeek’s Ohio home insurance calculator to get a non-binding, anonymous home insurance estimate instantly. We determine rates based on thousands of quotes across the state.

MoneyGeek analyzed homeowners insurance premiums from nine of the top insurance companies in Ohio that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Ohio. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.