Homeowners and auto insurance premiums on the rise in Ohio

Minnesota auto insurance company rates

Homeowners and auto coverage is growing more expensive in Ohio Auto insurance rates in Ohio are expected to rise in 2016, along with homeowners insurance premiums. The Ohio Insurance Institute has announced that auto premiums are set to rise by an average of 3.3%, whereas homeowners coverage will become 2.9% more expensive, on average. Even with the increases in premiums, Ohio is well below the national average in terms of the cost of auto and homeowners insurance coverage. In terms of homeowners coverage, Ohio is ranked the ninth lowest when…

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Weather improvements ease homeowners insurance rates

Ohio homeowners Insurance

The cost of insuring an Ohio property may stop rising as quickly as it has been due to fewer storms. Over the last few years, Ohio property owners have been watching their homeowners insurance rates climbing upward at a sharp rate, but that may start to slow to a much more moderate increase as the weather has been easing off. The weather has been slightly kinder to Ohio residents and isn’t causing the damage that it had been. In 2014, the rates from the largest homeowners insurance companies in the…

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Auto and homeowners insurance rates grow in Ohio

High-Valued 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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Ohio insurance industry hit by severe weather

climate change weather storm insurance industry

Recent storms put some financial pressure on insurance companies operating in Ohio Recent storms have had a major impact on the insurance industry in Ohio. Recently, a tornado struck Green County, causing several thousands of dollars in damages. Though insurers do not expect losses to be to the degree of severe storms in the past, the recent storm is yet another blow to the insurance industry, which has begun to show concern for the increase in frequency of natural disasters. Some of these concerns are related to the potential effects…

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Ohio homeowners insurance premiums vary widely based on ZIP code

Ohio homeowners Insurance

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…

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