Insurance
Ohio Homeowners Insurance Calculator: Free Cost Estimator (2024)
Updated: November 21, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Nov 21, 2024
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MONEYGEEK EXPERT TIP
When buying homeowners insurance, the premium cost may be the most important consideration. To help residents find the cheapest homeowners insurance in Ohio, MoneyGeek did the research. Overall, Travelers has the lowest rate.
For those looking to find the most suitable policy based on budget and customer service quality, we uncovered the best homeowners insurance companies in Ohio.
How to Estimate the Cost of Your Homeowners Insurance Policy in Ohio
MoneyGeek’s homeowners insurance calculator for Ohio estimates the monthly premium, which will give you an idea of potential costs when you buy homeowners insurance.
Our tool calculates the premium based on your preferred dwelling coverage, chosen deductible and other various factors, including credit score. Simply input your data to get started.
Ohio
The cost of homeowners insurance may fluctuate depending on where you live in Ohio. Insurance providers consider the risk of theft, natural disasters and fire, among other things, when calculating your homeowners insurance policy cost.
Dwelling Coverage
The average dwelling coverage amount in Ohio is $100,000.
However, your dwelling coverage may be higher or lower depending on the amount you might need to rebuild your home in case of a total loss. An appraiser best determines it.
Deductible
The deductible is the amount you need to pay out-of-pocket before your homeowners insurance kicks in for a claim.
The higher the deductible, the lower your premium. But with a lower deductible, the premium goes up.
Liability
In case of injuries that occur inside your property or damages to someone’s property, you want to make sure that you are protected against legal fees, replacement costs and even medical bills by getting liability insurance.
Personal Property
The items inside your home are valuable, too. That is why you need personal property coverage to protect against expenses to replace damaged or lost items like furniture, clothing, etc.
Credit Score
People with bad credit may be more likely to file insurance claims. Insurance providers look at your credit report when calculating your home insurance cost. Good credit can help you find cheaper insurance, whereas bad credit can make it harder to find affordable options.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in Ohio
A homeowners insurance policy with $250,000 dwelling coverage in Ohio costs around $1,705 per year. That is roughly 29% less than the national average of $2,417 per year.
To see how much it costs if you need a lower or higher dwelling coverage amount, compare average costs for different dwelling coverages in Ohio in the table below.
Average Annual Premium in Ohio for Homeowners Insurance
| $100,000 | $1,526 |
| $250,000 | $1,705 |
| $500,000 | $4,474 |
| $750,000 | $6,738 |
| $1,000,000 | $9,806 |
| $2,000,000 | $21,635 |
| $3,000,000 | $33,519 |
MONEYGEEK EXPERT TIP
Dwelling coverage refers to the amount you choose in a homeowners insurance policy to cover the cost of repairing your home or reconstructing it in case of a total loss. Knowing exactly how much dwelling coverage you need is determinable by an appraiser who assesses your property’s height, square footage, building materials and other factors.
Having too little dwelling coverage could result in having to pay extensive costs yourself if your home experiences severe damage or must be completely rebuilt.
Aside from dwelling coverage, you need to choose an amount for your personal property coverage. That will cover the contents of your home, like furniture, electronics and clothing.
Average Cost of Home Insurance in Ohio Cities
Homeowners insurance costs are likely to vary based on where you live. Insurance rates differ not just from state to state but also within it. MoneyGeek shows the difference in premium cost for some cities in Ohio below.
Average Annual Premium in Ohio Cities for Homeowners Insurance
| Akron | $2,192 | $3,709 |
| Cincinnati | $1,420 | $1,603 |
| Cleveland | $1,352 | $1,522 |
| Columbus | $1,453 | $1,740 |
| Toledo | $1,542 | $1,686 |
MONEYGEEK EXPERT TIP
Based on MoneyGeek’s research, Allstate offers the best homeowners insurance nationwide. If money is not a concern, you might want to spend a little more in exchange for the quality of service it provides.
Comparing homeowners insurance quotes lets you know what company offers the best price for your needs. MoneyGeek found the best homeowners insurance companies for various profiles, such as military families, people with expensive homes and those who want the best online tools to manage their policies.
Frequently Asked Questions About Home Insurance in Ohio
MoneyGeek answered frequently asked questions about homeowners insurance in Ohio to help you.
How much does homeowners insurance cost in Ohio?
The average annual cost of homeowners insurance in Ohio with $250,000 of dwelling coverage is $1,705. That is around 29% less than the national average of $2,417 per year.
How do I know how much dwelling coverage to get?
The average dwelling coverage amount in Ohio is $100,000, but you may need a lower or higher coverage amount based on the cost of rebuilding your property. Homeowners insurance providers can send out an assessor to evaluate how much dwelling coverage you may need based on the size and shape of your home.
Insurance
Methodology
To determine the average cost of homeowners insurance in Ohio, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.