Consumers throughout the state are paying widely different rates depending on where they live.
A new calculation of the homeowners insurance rates being paid across Ohio has revealed that the prices vary quite broadly from one part of the state to the next, depending on where the consumer actually lives.
Xenia was found to be the place in which residents were paying the highest home insurance premiums.
Overall, Ohio is considered to be a state in which the homeowners insurance rates are considered to be quite low. The reason is that the area is typically not affected by a frequently occurring natural disasters. That is reflected in the calculation of the premiums that are paid by its residents. However, a new report has shown that while the average rates are quite reasonable, the actual amount being paid by any given consumer depends greatly on where he or she resides.
The cities with the cheapest homeowners insurance in Ohio were determined to be those in the northern part of the state.
This information was found by ValuePenguin, a consumer research site. It also found that one of the most important factors that helped to contribute to the lower prices being paid for insurance policies in the northern cities of the state was the crime rates which were lower than average.
The city with the cheapest home insurance rates was identified as Ashtabula, where the average amount paid was $972 per year. That amount is a considerable 17 percent lower than the average amount for the state as a whole.
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On the other hand, the areas that were found to be the most expensive were in the southeastern part of Ohio, due to a larger number of weather related claims, as well as an increased level of property crime rates.
Xenia saw the highest rates of all of the cities that were studied, due to the increased instance of tornados in that region. The average annual rate, there, was $1,861, which was a tremendous 58 percent higher than the average in the state.
In the middle of the homeowners insurance range, was Columbus, as well as the rest of the suburbs throughout the central part of the state.