What kind of insurance company offers the best coverage for you as a homeowner? To answer this question in Ohio, we analyzed hundreds of rate quotes, policy details and complaint records from the state's biggest home insurers.
Compare Home Insurance Quotes from Providers in Ohio
Our research showed that the lowest rate for a typical home insurance policy in Ohio is just $615, but rate was just one of several variables we looked at. Here are the insurers we think offer the best combination of value and reliability for homeowners in the Buckeye State.
Best for most homeowners: Cincinnati Financial
Best value: Erie
Best for customer service: Westfield
Best for bundling: AmFam
Best homeowners insurance companies in Ohio
The best insurance company isn't simply the cheapest provider. Instead, it's important to find a company that has high-quality coverage at affordable prices. So, to find the best homeowners insurance provider in Ohio, we compared the average price, customer satisfaction and financial well-being of 10 of the largest insurance providers in the state. You can read the results of our extensive study to find an insurance provider that offers the right coverage for your home.
Best for most people: Cincinnati Insurance Company
We found that the best insurance provider in Ohio is Cincinnati Insurance Company, which has high customer satisfaction and is by far the cheapest homeowners insurance provider in the state. The company's average price across Ohio came in at $615 for a standard HO-3 policy. This figure is about half of the state's average and more than $200 cheaper than the next lowest competitor.
If you purchase a policy through Cincinnati Insurance Company, you might be eligible for a number of discounts. You can save money on your homeowners policy if you've got good claims history, by installing anti-theft measures in your home or by bundling your homeowners insurance with other policies.
Best value for homeowners insurance: Erie
Erie's standard homeowners insurance policy gives you the best amount of coverage for its price. Erie was the second-cheapest insurer in our analysis, with an average price of $844. Erie's standard policy comes with replacement cost coverage, while other insurers charge extra for upgrading to this type of dwelling coverage.
Replacement cost coverage is a type of dwelling protection that rebuilds your home for its value without factoring for depreciation. Standard policies usually include replacement cost coverage, meaning that you'd only be compensated the actual value of your home if it were destroyed. With this extra coverage included in Erie's standard homeowners insurance, you're able to spend money upgrading other parts of your policy if you choose.
Best customer service: Westfield
If you're an insurance shopper looking for the best customer service experience, you should consider contacting Westfield. Westfield's average cost of $1,058 is 13% below the state's average. Additionally, Westfield's score on the National Association of Insurance Commissioner’s (NAIC's) complaint index indicates that the insurer receives far fewer complaints than its market share would suggest.
Westfield also has an A or "stable" ranking from A.M. Best, which measures a company's financial stability. A ranking like this means that a company has the capital to pay claims. In other words, Westfield has the ability to compensate you even if you file a claim in poor economic times or after a widespread disaster.
Best for bundling: American Family Insurance
If you're thinking about purchasing homeowners insurance to go with another type of policy, you should consider American Family Insurance. You can save up to 20% on your homeowners policy and up to 30% on your auto insurance if you bundle coverages with American Family.
American Family also offers additional discounts if you have anti-theft or fire-retardant equipment in your home, like doorknob cameras and sprinkler systems. American Family's average policy is $822, which is almost 30% less than Ohio's average homeowners insurance price. The company's low average price means these discounts will grant you greater buying power to upgrade your policy.
Insurers with the best and worst customer service in Ohio
To assess the customer service of homeowners insurance providers in Ohio, we investigated the number of complaints each company received in the NAIC's database and how each insurer scored on J.D. Power's industry evaluation.
The insurers with the best customer service are Erie, Cincinnati Insurance Company and State Farm. Although it didn't receive the number-one score from the NAIC, Cincinnati Insurance Company was the only company in our study to receive a score of 4 out of 5 from J.D. Power.
The companies with the worst customer service scores in Ohio are Grange Mutual, Farmers, Allstate and American Family Insurance. However, none of these insurance providers have complaint index scores that are above the national median of 1.0 —meaning that they still receive fewer complaints than expected for their sizes.
|Company||Complaint index (lower is better)||J.D. Power (higher is better)||A.M. Best Financial Strength|
|Cincinnati Insurance Cos.||0.17||4/5||A+|
How much does home insurance cost in Ohio?
We gathered quotes from ten of Ohio's most popular insurance providers from every one of the state's ZIP codes. The most expensive home insurance in Ohio is provided by Auto-Owners Insurance and Allstate. Only these options are much more expensive than the state's average of $1214, while many choices fall below this mark.
You can see the average costs of these 10 insurers here:
Compare Home Insurance Quotes from Providers in Ohio
Cost of Ohio homeowners insurance: City-by-city
We also calculated the average cost of insurance in Ohio's 50 largest cities. If you're considering a move, or if you just want to understand how your city's prices compare to the state's average, check out this table. We've also compared typical home insurance rates in other states.
|City||Average price||Difference from average|
What risks affect the cost of home insurance in Ohio?
Even though Ohio isn't near any fault lines or oceans, it can experience highly destructive tornadoes and floods. As recently as Memorial Day 2019, one of Ohio's largest cities was hit by 18 tornadoes in a single evening. This storm inflicted over $1 billion of damage on Dayton as many homes were destroyed.
Fortunately, your homeowners insurance covers tornadoes and other damage caused by strong wind. However, if you're worried about replacing your home in the event that it's ever destroyed, you can always increase the limits of your coverage or upgrade to a guaranteed replacement cost policy.
If you live in Ohio, you might be at risk of experiencing flood damage. Ohio contains over 4,000 square miles of water and is bordered by Lake Erie and the Ohio River. It's estimated that 98% of Ohio's counties could be impacted by damaging flood waters, including counties that contain the state's biggest cities.
Unlike tornadoes, a normal homeowners insurance policy won't cover flood damage. You'll have to purchase a federal policy from the National Flood Insurance Program (NFIP). The average NFIP flood insurance policy cost Ohioans about $1,051 compared to $700 nationally.
For our study, we gathered quotes from each of Ohio's 1,400 ZIP codes. We used a sample property that was built in 1969 and measured 2,100 square feet. The home was insured to Ohio's median cost of a home, $144,200.
Quotes for this home were obtained from 10 of the largest providers in Ohio: State Farm, Allstate, Nationwide, Grange Mutual, Erie, Westfield, Cincinnati Insurance Company, American Family Insurance, Auto-Owners Insurance and Farmers. Unfortunately, we excluded Liberty Mutual and USAA from our study due to technical limitations.
We then averaged the data for the entire state and for each ZIP code. For our city-specific examination, we chose one sample ZIP for each of Ohio's 50 largest cities and calculated the average price of coverage.
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.