In Selected Ohio Cities
The Ohio Department of Insurance (ODI) asked insurance companies for premiums
charged for homeowners insurance in 2000. Over 70 companies’ rates
were reflected in the survey. 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; $120,000 house insured at 100% replacement cost; Liability coverage—$100,000 per occurrence; Medical Payments coverage—$1,000 per person; $250 deductible (or nearest available); 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. Contact ODI at 1-800-686-1526, or visit the consumer publications section of ODI’s website at www.ohioinsurance.gov. The premium a company charges for your insurance will probably be different based on your situation.
(Insurance Information Institute)