Auto Insurance Rate Increases in Ohio: 17% More Expensive Since 2011

Auto insurance rates in Ohio have gone up about 17% in the past six years, below the 25% nationwide average. We break down the lack of rate increases in the Buck Eye State below.

As in the vast majority of states, auto insurance rates have gone up in the state of Ohio since 2011. Luckily for Ohio drivers, not nearly as much as most states. In this article we go over how much the largest insurance companies in the state have raised rates and compare it to other states.

Car Insurance Rate Increases in Ohio

Auto insurance rates in Ohio have gone up an average 17% since 2011, slightly less than the national average of 25%. The increase however is mostly buoyed by the massive 55% increase imposed by Farmers in the past six years, notably its 27% increase back in 2012. For the most part, rate hikes were kept to below 20% for the largest insurers in Ohio.

Company201220132014201520162017*Total Inc. Since 2011
Allstate3%0%2%5%2%1%13%
American Family6%9%2%5%2%1%26%
GEICO3%7%0%7%0%0%17%
Erie0%0%0%-1%2%0%1%
Farmers27%4%0%5%12%0%55%
Grange Mutual1%2%2%4%6%1%15%
Liberty Mutual5%3%6%4%7%0%28%
Nationwide8%5%0%2%5%0%22%
Progressive4%3%5%-4%2%0%10%
State Farm0%2%3%3%3%8%18%
Travelers0%6%3%5%4%0%19%
USAA4%1%-1%0%6%8%18%
Westfield1%0%0%2%0%1%3%
Average4%3%2%2%3%2%17%

*Until May 2017

The graph below shows how each of the insurers above stacked up against each other in terms of rate increases. Farmers by far was the biggest offender, with the average Ohioan Farmers customer seeing a 55% increase in their rates in the past six years.

Image shows cumulative car insurance rate hikes in Ohio by company since 2011

Auto Insurance Rate Increases in Ohio Compared to Other States

Despite a few companies raising rates by over 20%, for the most part Ohio rate increases were just slightly below average compared to most other states. In Georgia for example, rates increased by an average 54%, nearly equal to the largest increase in Ohio.

Map shows how states compared for car insurance premium hikes since 2011

Ohio companies have raised rates either equal to or below the national average every year since 2011. It is likely the state has been experiencing less frequent and/or less severe insurance claims since 2016 as compared to other parts of the country harder hit with storms and accidents. The insurers also were better at pricing their rates in Ohio, which means they did not need to raise rates by a great amount.

YearOH Increase Per YearNational Increase Per YearDifference From National Increase
20124%4%0%
20133%3%0%
20142%3%-1%
20152%4%-2%
20163%6%-3%
2017*2%3%-1%

*Until May 2017

Sources
Nielsen iClout data
Ratefilings.com

Mark Fitzpatrick

Mark is a Senior Research Analyst for ValuePenguin focusing primarily on the insurance industry, primarily auto insurance. He previously worked in financial risk management at State Street Corporation.

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