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Home Insurance and Car Insurance in Ohio
Home and auto insurance are a major expense in the Buckeye State, as Ohio residents spend hundreds of dollars on premiums each year. But buying insurance to protect your investment in your house and car isn’t just a matter of convenience—it’s an absolute necessity. Whether you’re a first-time homebuyer, shopping for more affordable car insurance, or seeking ways to lower the cost of both, SelectQuote can help.
Let’s walk through the basics of buying homeowners and auto insurance coverage in Ohio, including how much you can save by bundling your coverage under one policy.
Homeowners Insurance in Ohio
Like most states, having home insurance in Ohio is not a legal requirement. However, it’s still a worthwhile investment. Buying homeowners insurance allows you to repair or rebuild your home after a catastrophe, like a severe hail storm or fire, and it helps cover the cost of replacement for stolen personal property.
Home insurance premiums ultimately vary based on several factors, including your total coverage and where you live. Most home insurance policies tend to fall under two categories: actual cash value policies and replacement cost policies.
- Actual cash value policies provide coverage up to the limit when you buy. If your policy’s limit is $250,000, and repairs or rebuilding costs exceed that amount, you’ll pay for the remainder.
- Replacement cost policies pay the cost of a rebuild minus depreciation. These policies aren’t impacted by inflation, zoning updates, or increased costs for materials or labor. Replacement cost policies are more expensive, but those who plan to stay in their home for a while might find them more attractive than actual cash value policies.
If you’ve never bought home insurance before, you likely have some questions. From basic protections included in standard home insurance policies to additional coverage for various losses, read on to learn more about Ohio homeowners insurance options.
Homeowners Insurance Coverage Options in Ohio
Most homeowners insurance policies in Ohio will include most (if not all) of the following types of home insurance coverage:
- Dwelling coverage is a standard policy that covers the actual physical structure of your home. If you have an attached garage or other structure, this will be covered as well.
- Personal property coverage works to cover your household belongings. If it’s inside or outside your home, it is covered.
- Personal liability coverage protects you in the event that someone is injured on your property and you’re found at fault. It also covers damage to another person’s property.
- Guest medical protection coverage covers people who are injured on your property, regardless of who may be at fault.
Common Causes of Loss in Ohio
Because Ohio is in the Midwest, homes in the state are prone to several types of losses. The most common causes of loss in Ohio include, but aren’t limited to, the following:
- Wind and hail damage: This makes up the most common type of home insurance claim. High winds and hail can significantly damage your home’s exterior, including its roof and siding.1
- Fire and lightning damage: Fire and lightning strikes are other common claims, accounting for nearly a quarter of losses in 2021.1
- Water damage: Water damage is a consistently common cause for home insurance claims. From sewer backups and basement leaks to flash flooding, water causes massive issues for homeowners.
- Theft: Another common reason for filing a home insurance claim, theft consistently represents a significant number of losses.
Additional Coverage Options Recommended for Ohio Homeowners
Even though home insurance policies cover many of the above issues, there are more than a few instances where you may want to buy additional coverage. Consider purchasing the following types of insurance to help protect your home:
- Flood insurance: Because most insurance companies do not sell flood insurance as part of the standard home coverage, you’ll need to buy an additional policy. Flood insurance is often available as an extra policy from insurers or from the National Flood Insurance Program.
- Windstorm insurance: Depending on where you live, your mortgage lender may require you to purchase specific windstorm coverage as a condition of your home loan. This is especially true if you live in an area that is prone to damage due to wind or hailstorms.
- Earthquake coverage: While Ohio hasn’t seen a major earthquake in over 100 years, they’re not a covered hazard in most insurance policies. As earthquakes due to fracking increase, it might be worth exploring what an earthquake rider looks like for your policy.
Our Home Insurance Companies in Ohio
SelectQuote works with highly rated home and auto insurance companies in Ohio and other states. Our trusted insurance company partners are vetted for financial stability, customer service, and the value of the coverage they provide.
What is the average home insurance cost in Ohio?
Ohio homeowners who purchase their home insurance coverage with SelectQuote pay an average of $96.96 per month+ for their insurance premiums. However, your specific costs will vary based on several factors, including your location, the age of your home, your credit score, the amount of coverage you buy, and your deductible. It also depends on your eligibility for any applicable discounts.
Homeowners Insurance Discounts in Ohio
Ohio homeowners have plenty of discounts at their disposal to help save on their home insurance coverage. These discounts can include, but aren’t limited to:
- New home discounts
- Discounts for few or no filed claims
- Home security discounts
- Customer loyalty discounts
Of course, one of the best ways to save on your home insurance coverage is to bundle that policy with another type of insurance from the same carrier.
Bundle Your Home and Auto Insurance to Save Money
Bundling your home and auto insurance coverage is one of the best ways to save money on your coverage. Customers who bundle their car and homeowners insurance after shopping with SelectQuote can save nearly $700 each year.
Average Home and Auto Insurance Rates in Ohio
The following table includes real home and auto insurance rates SelectQuote customers pay in some of Ohio's largest markets. Your monthly premiums will vary based on the types and amount of insurance you purchase, as well as any applicable discounts. Remember: bundling coverage is an excellent way to save money!
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
| Cincinnati | $87.13 | $125.78 | $222.42 |
| Cleveland | $104.58 | $152.62 | $208.97 |
| Columbus | $91.63 | $141.71 | $160.55 |
| Dayton | $87.85 | $103.62 | $183.37 |
| Toledo | $81.15 | $116.70 | $182.35 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Auto Insurance in Ohio
Buying some form of car insurance is a requirement for Ohio drivers. In addition to helping pay for repairs or replacement for your vehicle after an accident, car insurance can help protect you against financial liability for damages caused by you if you’re found at fault.
Ohio consumers have several options when it comes to buying auto insurance. Let’s walk through the basic requirements for drivers in the Buckeye State and how you can find affordable coverage that meets your needs.
Ohio Auto Insurance Laws and Requirements
Like most states, Ohio requires drivers to have insurance to operate any motor vehicle. Proof of insurance must be shown during traffic stops, vehicle inspections, and accident scenes. Compared to other states, the Buckeye State’s auto insurance requirements are as follows2:
- $25,000 bodily injury liability coverage for the injury or death of one person
- $50,000 for injury or death of two or more people per accident
- $25,00 for property damage
Beyond liability insurance, there are other types of auto insurance coverage available. These include the following:
- Uninsured/underinsured motorist coverage: This coverage protects you if you're in an accident with a driver who doesn't have insurance or whose insurance isn't sufficient to cover the costs of the accident.
- Collision coverage: This coverage pays for damage to your vehicle resulting from a collision with another vehicle or object, regardless of who is at fault.
- Comprehensive coverage: This coverage pays for damage to your vehicle not caused by a collision, such as theft, vandalism, fire, natural disasters, or hitting an animal.
- Gap coverage: This coverage pays the difference between what you owe on your vehicle and its current market value if it's totaled in an accident.
Ohio Teen Driving Laws
Ohio uses a probationary license system for teen drivers under age 18. The state allows applicants to take the knowledge test online at 15 years and six months of age. Once the driver passes the vision test and knowledge exam, they may obtain a temporary permit that allows them to drive with certain restrictions, including a valid licensed driver in the passenger seat between the hours of midnight and 6:00 a.m. In addition, drivers with a probationary license can’t have more than one non-family member passenger without a parent or guardian present. They also cannot use mobile devices like cell phones at all.3
Ohio Car Registration Information
Registering a vehicle in Ohio requires several pieces of information. You’ll need your Ohio driver’s license or photo ID and proof of Social Security number. Ohio also requires you to provide your vehicle’s title and VIN inspection. Finally, some Ohio counties require regular emissions inspections before you can register your car.4
What is the average car insurance cost in Ohio?
Among SelectQuote customers, the average car insurance cost in Ohio is $119.34 per month.+ Your own auto insurance rate will vary based on several factors, including the type(s) of coverage you buy, your policy limits, the make and model of your vehicle(s), where you live, your total car usage, and any applicable discounts, including those for bundling home and auto coverage.
Our Auto Insurance Companies in Ohio
SelectQuote’s partner auto insurance companies are some of the highest-rated providers in the state of Ohio. We compare rates from these trusted carriers and save you time and money by finding the best available price for your coverage needs.
Home and Auto Insurance Frequently Asked Questions
Buying home and auto insurance in Ohio often comes with plenty of questions. In this section, we’ll walk through some of the most frequent ones we encounter.
Do I need renters insurance in Ohio?
While renters insurance isn’t a legal requirement for Ohio, most apartment complexes, landlords, and property management companies will require it as part of the conditions of leasing to you. Renters insurance is often incredibly affordable and will help repair or replace your personal property if it’s damaged.
How do I buy commercial auto insurance in Ohio?
Whether you own a fleet of vehicles for your business, drive your vehicle for Uber or Lyft, share your car via car-sharing platforms, or drive a car to appointments as a solo entrepreneur, you should explore commercial auto insurance to help protect your vehicles. Commercial auto rates differ significantly from personal auto insurance. In fact, many car insurance companies will not cover claims that occur during these business trips as part of your personal auto policy.
Do I need mobile home insurance in Ohio?
Much like traditional home insurance, mobile home insurance isn’t a legal requirement for Ohio residents. However, if you have financed your modular home, the mortgage company will likely require you to purchase it. Mobile home insurance offers many of the same protections as traditional homeowners coverage, but premiums and deductibles may differ due to the unique construction of mobile homes. If in doubt, contact your insurance company to ensure you know the best coverage for your needs.
How much is flood insurance in Ohio?
The cost of flood insurance varies based on several factors, including the flood zone you live in, your overall coverage limits, and more. To get a detailed quote with more information, shop for flood insurance with SelectQuote today.
Do I need to buy gap insurance in Ohio?
Gap insurance isn’t a legal requirement for your car insurance policy, but most auto lenders will make you buy it for financed vehicles through loans or leases. Gap insurance exists to help cover the difference between what your vehicle is worth and what you currently owe on it.
SelectQuote Can Shop Ohio Home or Auto Insurance to Save You Time and Money
Whether you’re a first-time homeowner seeking protection for your property or a driver who wants to switch your car insurance to save money, SelectQuote makes it simple to shop for coverage with several of Ohio’s most trusted insurance companies. When you let us compare bundled home and auto rates and available discounts, you can reduce the hassle of finding affordable insurance that meets your exact needs.
Sources:
- https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance#Causes%20of%20homeowners%20insurance%20losses
- https://www.bmv.ohio.gov/dl-mandatory-insurance
- https://www.bmv.ohio.gov/dl-gdl.aspx
- https://www.bmv.ohio.gov/vr-firstissuance.aspx
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