2000 Homeowners Insurance Premiums 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 Web site at www.ohioinsurance.gov.
The premium a company charges for your insurance will probably be
different based on your situation.
Note: Figures shown should be reviewed as a guide
only
Source: Ohio Shopper‘s Guide to Home Insurance,
August 2000, Ohio Department of Insurance
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The insurance industry estimates that
it will lose $780 million on homeowner claims related to water
and mold damage in Texas in 2001. The estimated losses represent
a 60% increase over the claims paid for similar damage the previous
year.
(The Dallas Morning News, 09/11/01) |
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