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2009 Homeowners Insurance Premiums In Selected
Ohio Cities
(Rev. 08/09)
The Ohio Department of Insurance (ODI) asked insurance companies for premiums charged for homeowners insurance in January 2009. Over 30 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.
NOTE: The premium a company charges you for insurance will probably differ to reflect your actual coverage, home and location.
Rating information used in survey
Insurance Coverage Information:
Homeowners 3 policy form
Coverage amount: $200,000 on home
Liability coverage: $100,000 per occurrence
Medical Payments coverage: $1,000 per person
$250 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
One-year (annual) premiums
Battery-powered smoke detectors installed
Prices quoted prior to qualifying for any insurance company discounts (other than smoke detectors)
Residence is located within municipal limits
ODI’s survey includes additional homeowner scenarios. Visit ODI’s Web site at www.insurance.ohio.gov/Consumer/OCS/CompleteGuides/HomePremiums.pdf, or call 1-800-686-1526 to obtain a copy.
2009 One-Year Homeowners Insurance Premiums
Rates effective January 2009 |
| City |
Average |
Low |
High |
| Akron |
641 |
222 |
1,015 |
| Beaverdam |
843 |
322 |
1,575 |
| Cincinnati |
719 |
246 |
1,283 |
| Cleveland |
778 |
237 |
1,342 |
| Columbus |
668 |
259 |
1,153 |
| Dayton |
773 |
261 |
1,241 |
| Toledo |
751 |
259 |
1,658 |
| Youngstown |
745 |
251 |
1,197 |
| Small Town/Rural Area |
1,353 |
501 |
3,374 |
Notes: Figures shown should be reviewed as a guide only
Check out the Ohio Department of Insurance's Ohio Shopper;s Guide Series at www.insurance.ohio.gov/Consumer/OCS/CompleteGuides/CompleteHomeGuide.pdf
Source: Ohio Department of Insurance, Homeowners Insurance Sample Premiums (online at www.insurance.ohio.gov/Consumer/OCS/CompleteGuides/HomePremiums.pdf)
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Ohio is tied with Delaware for fifth least expensive in terms of average homeowners insurance premium (study includes D.C.). Ohio’s 2006 average homeowners insurance premium was $530 compared to the US average of $804.
(Based on NAIC 2007-09 editions of “Dwelling, Fire, Homeowners Owner-Occupied,and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance”) |
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