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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Rates for homeowners insurance and auto coverage are on the rise in Ohio

homeowners insurance

Homeowners insurance and vehicle coverage is becoming slightly more expensive this year Those living in Ohio can expect to be paying more for their homeowners insurance and auto coverage this year. Insurers in the state will be raising rates, but Ohio will still enjoy insurance rates below the national average for property and auto coverage. According to a report from the Ohio Insurance Institute, rates are on the rise for a number of reasons. Homeowners insurance providers note that many powerful storms have hit the state recently, which is leading…

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Ohio insurance shows that its rates in many sectors are highly affordable

Ohio homeowners Insurance

A recent study compares auto and homeowner policies over a span of three years. Though the storms that Ohio has faced over the last few years have made insurance news in their ever increasing effect on rates, despite the rises in premiums, the state is still among the most affordable places to purchase both auto and homeowners coverage. Homeowners premiums have risen in Ohio by an average of 6,2 percent since 2011. This, according to the latest Ohio Department of Insurance news data. Similarly, statistics from that department have also…

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Ohio Insurance Institute reports on June/July storms

insured losses

Storms do more than $433 million in damage Powerful storms that hit Ohio between June 29 and July 2 this year have produced at least $433 million in damages, according to the Ohio Insurance Institute, a state insurance industry trade group. The financial losses make the storms some of most costly natural disasters the state has experienced in its history. The storms are expected to have a significant impact on the state’s insurance industry, though insurers are poised to mitigate the financial aspects of the disasters and provide support to…

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Ohio’s Insurance Institute releases new report regarding recent storms: Losses up to $500 million

Since an onslaught of major storms in April and May, the Ohio Insurance Institute has been busy collecting data and has recently released a new report in that accounts for a storm that ran through the state earlier this month. The Institute, comprised of property and casualty insurers, usually only issues reports regarding insured losses if they exceed $25 million. This new report is the sixth the Institute has release this year, showing that the devastating effects of storms that occurred months ago linger. According to the Institute’s survey, more…

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