Saturday, January 21, 2017

Report: Ohioans pay among lowest for insurance

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Ohio Department of Insurance

COLUMBUS – Ohioans pay among the lowest average premiums in the nation for auto and homeowners insurance according to a national study, Lieutenant Governor Mary Taylor announced.

“We are driven to help foster a competitive insurance marketplace that benefits Ohio consumers with increased choice in coverage and lower costs,” said Taylor, also director of the Ohio Department of Insurance. “These most recent national rate comparisons proves our policy continues to work for Ohioans.”

The National Association of Insurance Commissioners found Ohioans paid an average of $797 (9th lowest) for homeowners insurance and $683 (12th lowest) for auto insurance in 2014 (the most recent data available) compared to the respective national averages of $1,132 and $866. Ohio’s combined average savings are $518 below the national averages.

Ohio as compared to its neighboring states’ average insurance premiums:

Homeowners                                      Auto

Ohio $797                                           Indiana $642

Michigan $865                                    Ohio $683

West Virginia $877                             Kentucky $783

Pennsylvania $893                             Pennsylvania $858

Indiana $944                                      West Virginia $871

Kentucky $1,023                                Michigan $1,227

Ohio’s ranking remains unchanged from the previous year.

To help save money when shopping for insurance, Taylor advises consumers to compare products from different companies and to regularly evaluate coverage.

Consumers with insurance questions can contact the Ohio Department of Insurance at 1-800-686-1526 and visit for information.

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