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2003 Homeowners Insurance Premiums in Selected
Ohio Cities
The
Ohio Department of Insurance (ODI) asked insurance companies for
premiums charged for homeowners insurance in 2003. Over 50
companies’ rates were reflected in the survey findings.
The table below shows a comparison of homeowners insurance premiums
for selected metropolitan areas in Ohio. Figures shown should
be reviewed as a guide. They do not reflect discounts offered
by insurers, which could lower insurance costs.
Rating information
used in survey
Insurance Coverage Information: Homeowners 3 policy
form; $150,000 house insured at 100% replacement cost; Liability
coverage—$100,000
per occurrence; Medical Payments coverage—$1,000 per person;
$500 deductible; replacement cost endorsement for personal property.
Home
Information: Frame construction (Note: premiums for masonry construction
are about 5–15% lower), owner-occupied, single-family
dwelling.
Pricing Information: A new customer applying for homeowners
insurance. Prices were quoted prior to qualifying for any insurance
company
discounts (other than smoke detector). Assumption that house was
equipped with battery-powered smoke detectors. Residence is located
within municipal limits. Rates shown reflect annual homeowners
insurance premiums.
ODI’s survey includes additional home
owner scenarios. Visit ODI’s Web site at www.ohioinsurance.gov/ConsumServ/Ocs/CompleteGuides/CompleteHomeGuide.pdf,
or call 1-800-686-1526 to obtain a copy. The premium a company
charges you for insurance will probably differ to reflect your
actual coverage, home and location.
Note: Figures shown should be reviewed as a guide only
Source: Ohio Shopper's Guide Series, Homeowners
Insurance: Helping You Get the Most From Insurance That Protects
You, Your Home and
Personal Property, July 28, 2005 (Web version), Ohio Department
of Insurance
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