2000 Average Homeowners and Renters Insurance Premiums by State

Homeowners insurance study

Homeowners insurance in Ohio remains affordable despite the fact that premiums are on the rise.

A 2003 study by the National Association of Insurance Commissioners (NAIC) found Ohio’s 2000 average homeowners insurance premium ranked 48th lowest in comparison to all states and Washington, DC. Ohio’s 2000 average homeowners insurance premium of $334 was 34% below the US average of $508.

The HO-3 policy served as the basis of the homeowners insurance study, the most common policy written, which provides the broadest coverage available. Owner-occupied dwellings of 1–4 family units were used in the study along with “all-peril” coverage. For more information on the HO-3 policy, click here.

Renters insurance findings

The NAIC study also provided state average premiums for renters insurance. Ohio’s 2000 average renters insurance premium ranked 35th lowest in comparison to all states and Washington, DC. Ohio’s 2000 renters insurance premium of $142 was nearly 19% lower than the US average.

The renters insurance premium study was based on the HO-4 policy, the “Tenants” form. It protects personal property against broad-named perils, similar to an HO-2 policy. For HO-2 and HO-4 policy information, click here.

Note: For general information on Ohio’s homeowners insurance outlook, go to:
www.ohioinsurance.org/newsroom/homeowners09-04.asp.

Click here for the chart "2000 Average Homeowners and Renters Insurance Premiums by State."