Homeowners Insurance in Ohio

Posted July 22nd, 2019 by Amy Danise

Fortunately, homeowners in Ohio don’t have to worry about the kinds of natural disasters that batter many other parts of the country, such as hurricanes, wildfires and earthquakes. But Ohio homeowners should think about having sufficient insurance for floods and blizzards. Here’s how to get the right coverage.

A standard homeowners insurance policy in Ohio covers fires, explosions, theft, wind -- including tornadoes -- and other problems. A basic policy generally also covers damage from the weight of snow and ice, which is important for weathering Ohio winters.

But homeowners insurance usually won’t cover flooding. In February 2018, the Ohio River had its worst flooding in 20 years. And you don’t have to live along a river to experience a flood. Heavy rain and lead to flash floods that homeowners insurance won’t cover. Homeowners can buy flood insurance to financially protect their properties from floods.

Ohio home insurance

What does Ohio homeowners insurance cover?

A typical Ohio homeowners policy covers six main areas:

  • Dwelling: For a house that’s damaged or destroyed.
  • Other structures: For a garage, storage shed, fence or other buildings and structures that aren’t attached to the house.
  • Personal property: For personal belongings that are damaged, stolen or destroyed, such as furniture, clothes, toys and TVs.
  • Loss of use coverage: If the home is uninhabitable due to a problem covered under the insurance policy, such as a fire, this coverage pays extra expenses such as hotel bills.
  • Personal liability: In case you’re legally responsible for someone else’s injury or property damage.
  • Medical payments to others: In case people are hurt on your property or even away from it, and you’re legally responsible for the injury.

How do I get Ohio flood insurance?

Flood insurance is available from the National Flood Insurance Program (NFIP). Your home insurance agent can help you get an NFIP policy.

How much is home insurance in Ohio?

The average Ohio homeowners insurance premium is $850 a year for a typical policy, according to the National Association of Insurance Commissioners. That’s significantly less than the nationwide average of $1,192 a year.

20 largest Ohio homeowners insurance companies

Rank in Ohio Company Market share % in the state
1 State Farm 20.9
2 Allstate Corp 10.89
3 Liberty Mutual 8.64
4 Nationwide 7.28
5 Grange Insurance 5.64
6 Erie Insurance 5.39
7 Westfield Insurance 3.93
8 USAA 3.7
9 The Cincinnati Insurance Cos. 3.64
10 American Family Insurance 3.36
11 Auto-Owners Insurance 3.1
12 Farmers Insurance 2.82
13 Travelers 2.28
14 Progressive 1.47
15 Motorists Insurance Group 1.39
16 Western Reserve Group 1.36
17 State Auto 1.27
18 Ohio Mutual Insurance Group 1.21
19 MetLife 1.06
20 Chubb 0.9
Source: S&P Global Market Intelligence, based on homeowners multiple peril insurance market share in 2018.

What if I can’t find home insurance in Ohio?

If you’ve been turned down for home insurance you may be able to buy basic property insurance through the Ohio Fair Plan. Fair Plans are called the “insurer of last resort.” Any licensed Ohio insurance agent can help you buy a policy through the Fair Plan.