The Best Cheap Ohio Homeowners Insurance for 2024

Home insurance is necessary to protect the policyholder's investment, but it can be expensive. Ohio home insurance costs the typical homeowner over $1,400 per year, and some people pay a lot more than that. Fortunately, it's also possible to do much better than this, as the companies below prove.

• Cheapest overall for Ohio: Ohio Mutual Insurance
• Cheapest for new home construction: Erie Insurance
• Cheapest for older homes: The Cincinnati Insurance Companies
• Cheapest for those who have filed a claim: Ohio Mutual Insurance

Ohio Mutual Insurance offers the best homeowners insurance in Ohio overall. The typical premium in the state is $1,429 per year, but those who choose Ohio mMutual only pay about half that. Its average annual premium is just $741.

These companies also offer cheap homeowners insurance in Ohio:

• The Cincinnati Insurance Companies, which has an average annual premium of $828
• American Family Insurance, where Ohio homeowners pay about $1,068 per year

People only pay about $715 per year for Ohio home insurance on new construction. That's not bad, but homeowners who choose Erie Insurance can get the same coverage for only $404 per year.

These insurers are also among the best homeowners insurance companies for new construction:

• Ohio Mutual Insurance, which charges $416 per year for Ohio home insurance on a new home
• The Cincinnati Insurance Companies, which charges about $426 per year

The Cincinnati Insurance Companies offers the most affordable Ohio home insurance rate for older homes. Its average premium is just $723 per year -- about half the state average of $1,399.

These companies also offer great rates on home insurance for older homes:

• Ohio Mutual, which has an average annual premium of $731 for older homes
• Farmers, where homeowners of older homes pay $982 per year on average

At just $731 per year, Ohio Mutual Insurance is the most affordable option for homeowners who have filed a claim. This is pretty affordable considering the state average for these homeowners is $1,458 per year.

The following insurers are also worth a closer look for homeowners with a claims history:

• The Cincinnati Insurance Companies, which charges these homeowners about $886 per year
• Auto-Owners Insurance, where homeowners with a single claim pay about $948 per year

Ohio home insurance is a little more affordable than the national average. But costs vary considerably depending on the type and size of the home, the owner's claims history, and more. Here's a closer look at how Ohio stacks up to the rest of the country in the categories listed above.

Here are some things homeowners should keep in mind while shopping for Ohio home insurance.

Home costs in Ohio are below the national average

The average Ohio home costs about $181,756, according to The Ascent's research on average house prices by state. That's quite a bit below the national average of $293,349. It might help explain why the state's home insurance costs are below average as well. But it's worth noting that homes that cost more than the state average will likely cost more to insure.

Ohio's cities are surprisingly affordable

While homes in metropolitan areas are normally among the most expensive to insure, this doesn't appear to be the case in Ohio. The state's largest city, Columbus, only has an average annual premium of $1,403, and its second-largest city, Cleveland, has an average annual premium of just $1,373.

Here's a look at some common Ohio home insurance claims.

Wind damage

Ohio isn't in Tornado Alley, nor is it near enough to the coast to feel the wrath of most hurricanes. But it's home to some severe windstorms nonetheless. These can bring down trees, peel shingles off roofs, and cause all manner of destruction.

Winter storm damage

All northern states see severe winter storms every year. When these storms are bad enough, they can lead to burst pipes or even collapsed roofs. Homeowners can sometimes take steps to mitigate these issues, but having adequate home insurance coverage is a critical backup.

Flood damage

Every state in the country is at some risk for flood, and this is especially true for residents of low-lying areas. Ohio has seen significant flooding after hurricanes and other major storms. Unfortunately, this isn't covered by a traditional home insurance policy. Homeowners need a special flood insurance policy for this coverage.

Here's a look at how much some common home insurance discounts could shave off the average Ohio home insurance premium.

Bundling shaves over $300 off the average premium

The typical homeowner who bundles their home and auto only pays about $1,110 per year for their home insurance. This is a pretty huge discount, and it's one that most insurers offer. That's why it's usually best for homeowners to insure their vehicle with the same company.

A roof upgrade is the best bang for your buck

Though upgrading a home's plumbing, heating, and electrical systems leads to savings, none of that compares to a roof upgrade. Homeowners with a brand-new roof only pay about $1,145 per year for Ohio home insurance. That's nearly $300 less than the state average.

Sprinklers are a safety-improving and cost-saving measure

Sprinklers reduce the risk of significant fire damage, and many home insurers give discounts to homeowners who have them in their home. But not all of them do. It's important for homeowners with sprinklers to look for companies that offer a sprinkler discount so they can reap the rewards of their smart investment.

The following five cities offer the most affordable Ohio home insurance premiums on average:

Homeowners in these five cities pay the most for their Ohio homeowners insurance:

There are several options for cheap homeowners insurance in Ohio. Those searching for a policy can look at bundling coverage and making upgrades, like adding a new roof, to find some of the best rates.