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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. (NOTE: This is the latest year available for this data at press time) 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 homeowner 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.
Source: Ohio Shopper's Guide Series, Homeowners Insurance: Helping You Get the Most From Insurance That Protects You, Your Home and Personal Property, September 2004 (from Web June 7, 2006), Ohio Department of Insurance
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The single female segment of the homebuyer population accounted for 18% of all homebuyers in 2004, according to the National Association of Realtors, while single men represented only 8%.
Further, from 1994–2002, 30% of the 12 million new US homeowners were unmarried women, according to the Joint Center for Housing Studies at Harvard University.
(Columbus Daily Reporter, 6/21/05)
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