Auto and homeowners insurance rates grow in Ohio

Homeowners Insurance news

Homeowners insurance and vehicle protection are becoming more expensive in the state Auto and homeowners insurance premiums have increased in Ohio, according to an announcement from Lieutenant Governor Mary Taylor. While insurance rates have gone up in the state, they remain well below the national average, in terms of vehicle and property coverage. Insurers sought rate increases last year, many of which were approved by state regulators due to various issues that have placed insurance companies under greater financial strain. Higher rates may help insurers recover from the losses they…

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Insurance fraud becoming more prolific in Ohio

homeowners insurance fraud

Ohio continues to grapple with insurance fraud Insurance fraud hit a high in Ohio last year, according to the state’s Department of Insurance. The state agency has released data concerning the reports of insurance fraud and agent misconduct it had received throughout 2012. Regulators have been working to rein in on fraud throughout the state more aggressively. Fraud is often one of the major contributory factors to rising insurance prices, and regulators are keen to keep insurance rates manageable for consumers throughout Ohio. Agency received 7,274 allegations of insurance fraud…

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