Best Homeowners Insurance in Ohio (2024)
- Expertise: Auto insurance, home insurance and renters insurance
- Education: University of California-Berkeley (BA in History)
Rob Bhatt is a licensed insurance agent and joined the staff of Lending Tree in 2021. Previously, he spent more than 20 years writing for and editing regional publications in California, Nevada and Washington. Rob enjoys helping readers understand how different coverages work so they can make informed purchasing decisions, and he specializes in producing research-backed content for LendingTree about auto, home and renters insurance. His work has been cited by ABC, Business Insider, MSN and Yahoo.
Erie is the best and cheapest homeowners insurance company in Ohio. Its rates average $104 a month and the company has higher customer service ratings than most other companies.
American Family, Cincinnati and State Farm are also good companies to contact for homeowners insurance quotes in Ohio.
Cheapest homeowners insurance companies in Ohio
Erie offers the cheapest homeowners insurance quotes in Ohio, averaging $1,242 a year ($104 a month) for a typical home. That’s 44% less than the state average of $1,553 a year.
The next-cheapest home insurance quotes are available from USAA ($1,553 a year) and American Family ($1,579 a year). Note that USAA is only available to current and former military members and their families.
| Company | Annual rate |
|---|---|
| Erie | $1,242 |
| USAA* | $1,553 |
| American Family | $1,579 |
| Cincinnati | $1,633 |
| State Farm | $1,871 |
| Westfield | $2,047 |
| Grange | $2,277 |
| Allstate | $2,285 |
| Nationwide | $2,310 |
| Farmers | $5,276 |
Best homeowners insurance companies in Ohio
Erie, American Family and State Farm are the best large homeowners insurance companies in Ohio.
Meanwhile, Cincinnati is our pick for the best small company, and USAA is best for military families.
Ohio’s best homeowners insurance companies
| Company | Annual rate | Satisfaction score | Complaint rating |
|---|---|---|---|
| Best overall: Erie | $1,242 | 856 (Excellent) | 0.4 (Excellent) |
| Best discounts: American Family | $1,579 | 813 (Average) | 0.4 (Excellent) |
| Most popular: State Farm | $1,871 | 829 (Good) | 0.9 (Average) |
| Best small company: Cincinnati | $1,633 | Not rated | 0.1 (Excellent) |
| Best for military families: USAA* | $1,553 | 881 (Excellent) | 0.4 (Excellent) |
Satisfaction scores are based on J.D. Power’s 2023 U.S. Home Insurance Study. The segment average for home insurers is 819, and higher scores are better.
Complaint ratings track confirmed complaints (that lead to a finding of fault) reported to the National Association of Insurance Commissioners. A 2.0 complaint rating means twice as many complaints as expected for the company’s size, while a 0.5 rating means half as many.
Best overall homeowners insurance company in Ohio: Erie
Erie backs its low home insurance rates with strong customer service ratings and valuable policy features for Ohio homeowners.
Pros
Higher customer satisfaction than most Ohio home insurers
Guaranteed replacement cost coverage at no charge (even if the cost of rebuilding exceeds your policy’s limit)
Cons
Best home insurance discounts in Ohio: American Family
American Family’s rate is 28% less than the state average for home insurance. It also has an excellent complaint rating and offers unique additional ways to save.
Pros
Discounts for replacing old plumbing, electrical or heating systems
Discount if your parents are American Family customers and you’re under 30
Cons
Ohio’s most popular home insurance company: State Farm
State Farm is not the cheapest home insurance company in Ohio, but its 21% market share makes it the largest, or most popular. The next-largest company, Allstate, only has 11% market share.
Pros
Generous discounts available for bundling home and auto policies
Quotes available online
Agents available to provide personalized service
Cons
Ohio’s best small insurance company: Cincinnati
With just under 4% market share, Cincinnati is Ohio’s ninth-largest home insurer. However, its low rates and high customer service standards allow it to give larger companies a run for their money.
Pros
Best complaint rating among the companies in our analysis
Coverage for both standard and high-value homes
Cons
Website provides only minimal details about coverage choices.
Best for Ohio’s military families in Ohio: USAA
USAA’s rates are 30% lower than the state average, and also rewards its customers with valuable perks.
Pros
Discounts available for home security devices and services
Coverage for service equipment and uniforms included for active-duty military
Cons
Only available to military service members and their families
How much is home insurance in Ohio?
The average cost of homeowners insurance in Ohio is $2,207 a year, or $184 a month.
The actual price you pay depends on factors such as:
- The amount of coverage you need
- Your location
- Your credit and insurance history
- Any discounts you may be eligible to receive
Each insurance company weighs these factors differently, and one company may offer you a much lower rate than the others do, so you should compare quotes from multiple companies when you shop.
Home insurance rates by coverage amounts
In Ohio, a policy that insures your home, or dwelling, for $450,000 costs 23% more than a $350,000 policy.
| Dwelling coverage | Annual cost |
|---|---|
| $350,000 | $1,973 |
| $400,000 | $2,207 |
| $450,000 | $2,418 |
For a new mortgage, lenders typically require you to insure your home at its replacement value — basically, the cost of rebuilding your home to its current specifications and quality grade.
You can choose a lower amount of dwelling coverage if you have a low loan balance or if you own your home outright. But this may leave you without enough money to rebuild after a disaster.
Most insurance companies use a computer program to calculate your home’s replacement value. Make sure the information it has about your home is accurate.
Ohio homeowners insurance rates by city
In Ohio’s largest cities, home insurance rates range from $1,878 a year in Cuyahoga Falls to $2,609 a year in Dayton.
The average cost of home insurance in Columbus is $2,165 a year, which is 2% less than the state average.
| City | Annual |
|---|---|
| Akron | $2,033 |
| Canton | $2,018 |
| Cincinnati | $2,230 |
| Cleveland | $2,211 |
| Columbus | $2,165 |
| Cuyahoga Falls | $1,878 |
| Dayton | $2,609 |
| Elyria | $2,032 |
| Hamilton | $2,465 |
| Kettering | $2,389 |
| Lorain | $2,068 |
| Parma | $1,991 |
| Springfield | $2,240 |
| Toledo | $2,417 |
| Youngstown | $2,086 |
How much is flood insurance in Ohio?
The average cost of flood insurance in Ohio is $962 a year (about $80 a month) for policies obtained through the National Flood Insurance Program (NFIP).
Homeowners insurance does not cover floods, so you have to purchase flood insurance separately.
Lenders usually require flood insurance for mortgages in high-risk flood zones. Flood insurance is also worth considering if you don’t have a mortgage and/or your home is in a low- or moderate-risk area.
Most flood insurance is purchased through the NFIP, which is managed by the Federal Emergency Management Agency (FEMA). However, several private companies also offer it.
You can look up a home’s flood zone online by visiting the Flood Map Service Center on FEMA’s website.
Methodology
The rates shown in this article are based on an analysis of non-binding quotes obtained from Quadrant Information Services for sample homes in every ZIP code in Ohio. Unless otherwise noted, policies include:
- Dwelling coverage: $400,000
- Other structures: $40,000
- Personal property: $200,000
- Loss of use: $80,000
- Personal liability: $100,000
- Guest medical payments: $5,000
- Deductible: $1,000
*USAA is only available to current and former members of the military and their families.
Frequently asked questions
No, homeowners insurance is not mandatory under Ohio law, but most lenders require it for a mortgage. If you live in a high-risk flood zone, your lender will likely make you get flood insurance, too.
Ohio requires homeowners insurance companies to provide a 30-day notice before canceling or not renewing your policy. However, as the customer, you can cancel your policy at any time if you are switching companies, selling your home or for any other reason.
Homeowners insurance automatically includes mine subsidence coverage in Ohio’s 26 “mandatory coverage” counties. The coverage is offered on an optional basis in nine other counties. Mine subsidence occurs when a home sinks into a mine under its foundation.