Jane Dotson
The cost of home insurance in Ohio varies depending on location, coverage, and the insurance company. The average cost of homeowners insurance in Ohio is $2,207 a year, or $184 a month. However, this average can differ based on location, with homeowners in Cleveland paying an average of $1,645 per year, while those in Cincinnati pay around $1,555 per year. The cost of home insurance is influenced by factors such as location, credit score, liability, property coverage limits, and deductibles. It's important to note that the insurance market can be complex, and rates tend to fluctuate over time.
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What You'll Learn
Average monthly cost
The average monthly cost of homeowners insurance in Ohio is about $161, or an annual average of $1,934. This is based on a home built in 2000 with $250,000 dwelling coverage, $125,000 personal property coverage, and $200,000 liability coverage with a $1,000 deductible.
However, the cost of homeowners insurance in Ohio can vary depending on several factors. The location is the biggest factor, with rates varying by up to 14%. For example, the average cost of homeowners insurance in Cincinnati is $1,555 per year, while in Cleveland, it is about $1,645 per year. The age of the property, weather-related factors, and home valuations can also affect insurance costs.
Additionally, the coverage choices can influence the cost, with higher coverage limits and lower deductibles leading to higher premiums. The home details, such as construction materials and roof type, are another important factor in determining the cost of homeowners insurance in Ohio.
It is worth noting that the cost of home insurance in Ohio is generally lower than the national average, making it the 6th most affordable state for home insurance in the country.
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Location-based pricing
The cost of home insurance in Ohio varies depending on location, with the average cost of homeowners insurance in the state being $1,380 per year for $300,000 in dwelling coverage. This is 41% less than the national average of $2,341 per year. In Cincinnati, the average cost of homeowners insurance is $1,555 per year, while in Cleveland, it is about $1,645 per year.
In Ohio, the risk of catastrophic hurricane damage or earthquakes is relatively low compared to other parts of the United States. However, the state does experience year-round storm damage, including tornadoes and heavy snow and wind. Standard homeowners insurance policies in Ohio typically cover damage from burst pipes, heavy snow, and wind. However, separate flood insurance is usually required, as flooding is the most common natural disaster in the state.
The cost of home insurance in Ohio can also vary by county and ZIP code. For example, Insurance.com analysed quotes from 81 insurance companies across 34,588 ZIP codes to determine average premiums. Homeowners in Indiana, a neighbouring state, pay an average of $1,752 annually for the same amount of coverage, while Wisconsin homeowners pay an average of $1,271.
It is important for Ohio homeowners to be aware of the risks excluded from their policies. Natural disasters are becoming more frequent in the state, so understanding what is and isn't covered can help homeowners make informed decisions about their insurance needs. Additionally, factors such as the age and square footage of the home, deductibles, policy limits, and the cost of building materials can also impact the final insurance premium.
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Credit score impact
The cost of home insurance in Ohio varies depending on location, age, and square footage of the home, the deductibles and policy limits chosen, and the cost of building materials, among other factors. The average cost of homeowners insurance in Cincinnati, for example, is $1,555 per year, while in Cleveland, it is about $1,645 per year. The national average cost of home insurance is $2,466 per year for a policy with a $300,000 dwelling limit.
In most states, insurance companies can use credit-based insurance scores to help determine home insurance rates. Credit-based insurance scores are similar to traditional credit scores but are weighted differently. They are based on credit reports and may include other information. A good credit score typically falls between 690 and 719, while a score below 630 is considered poor. Insurance companies use these scores to predict the likelihood of policyholders filing a claim. Policyholders with higher credit-based insurance scores are more likely to pay on time, avoid lapses in coverage, and maintain their homes, reducing the likelihood of needing to file a claim.
Homeowners with poor credit histories are likely to be offered more expensive insurance rates as they are seen as a greater risk, with studies showing that those with lower credit-based insurance scores are responsible for a higher share of claim payouts. On average, homeowners with poor credit histories pay 82% more for home insurance than those with excellent credit. However, it is important to note that the impact of credit scores on insurance rates varies depending on the insurer and the state. As of 2025, only a few states have banned the use of credit as a rating factor for home insurance, including California, Maryland, and Massachusetts.
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Flood coverage
In Ohio, a standard homeowner's insurance policy does not typically cover flood damage. Flood insurance is a separate policy that can cover buildings, contents, or both. Flooding can be caused by various factors, including poor drainage systems, summer storms, melting snow, neighbourhood construction, and broken water mains. Even homes in lower-risk areas can experience flooding.
The National Flood Insurance Program (NFIP) provides flood insurance to property owners, renters, and businesses, helping them recover faster when floodwaters recede. The NFIP is a partnership between the federal government, the property and casualty insurance industry, states, local officials, lending institutions, and property owners. It offers two types of coverage: building coverage and contents coverage. The cost of flood insurance for single-family homes under the NFIP can vary, with 37% of policies falling into the $0-1,000 range and 32% costing between $1,000 and $2,000 per year. The NFIP's pricing approach sets premiums based on each property's individual risk, taking into account factors such as location, the type of house, its age, and construction.
When purchasing flood insurance, there is typically a 30-day waiting period before the coverage takes effect. This waiting period applies to NFIP policies unless the coverage is mandated by a government-backed lender or is related to a community flood map change. To purchase flood insurance, individuals can get a quote through the NFIP Quote Tool and then share it with a local agent or their insurance company. It is important to note that homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance.
While the focus is on flood coverage, it is worth noting that the average cost of homeowners insurance in the US is $2,466 per year for $300,000 in dwelling coverage. However, rates can vary based on factors such as location, age, square footage, deductibles, policy limits, and the cost of building materials. Additionally, inflation and the elevated cost of building materials have contributed to increasing home insurance rates.
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Cheapest providers
Home insurance in Ohio is cheaper than the national average. The national average cost of home insurance is $2,466 per year for a policy with a $300,000 dwelling limit, whereas the average cost of home insurance in Ohio is $1,590 per year. However, the cost of home insurance in Ohio varies depending on where you live. For example, the average cost of homeowners insurance in Cincinnati is $1,555 per year, whereas in Cleveland, it is $1,645 per year. The cheapest place for home insurance in Ohio is Mentor-on-the-Lake, near Cleveland, where the average cost is $1,187 per year. The most expensive place for home insurance in Ohio is Otway, in the southern part of the state near Portsmouth, where rates average $1,854 per year.
According to ValuePenguin, the best home insurance for most people in Ohio is Ohio Mutual, due to its cheap rates and good customer satisfaction. Choosing Ohio Mutual will typically save you about 40% on homeowners insurance, based on policies with $350,000 in dwelling coverage. Ohio Mutual offers several great discounts, such as for having a new home, a new roof, alarms, or no mortgage, or for being a teacher, first responder, or veteran. Ohio Mutual also has high-quality coverage with good coverage options, helpful independent agents, and about half as many complaints as the average company.
Auto-Owners also stands out for its options that protect you and your home from a wide range of possible damages. You can select coverage options for identity theft, equipment breakdown, guaranteed replacement, water backup, inland flood damage, and extra protection for high-value items. Auto-Owners' home insurance rates are affordable in Ohio, costing an average of $1,156 per year for $350,000 in coverage.
According to NerdWallet, Chubb and NJM are among the best home insurance companies in Ohio.
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Frequently asked questions
The average cost of homeowners insurance in Ohio is $2,207 a year, or $184 a month. However, this varies depending on location, with average monthly costs in Akron at around $152 and in Toledo at $188.
Erie is the cheapest homeowners insurance company in Ohio, with rates averaging $104 a month.
Auto-Owners is the top choice for homeowners insurance in Ohio, achieving a MoneyGeek score of 99 out of 100. It stands out for its balance of affordability and quality service, with an average annual premium of $738.
