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)
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 PremiumsRates 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

Source: Ohio Department of Insurance, Homeowners Insurance Sample Premiums (online at www.insurance.ohio.gov/Consumer/OCS/CompleteGuides/HomePremiums.pdf)

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”)