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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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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Ohio law to bring changes to state’s insurance industry

Ohio Insurance industry

Insurance changes coming to Ohio thanks to new law Ohio lawmakers have approved a new budget that will bring major changes to the state’s insurance law. The change reduces the amount of money that insurance companies will receive from injury cases in which consumers are found at fault and cannot pay the full amount they owe. The change to the law has received significant support from lawmakers, with supporters suggesting that some companies in the insurance industry could be exploiting the old law for financial gain. Insurance companies will receive…

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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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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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47,000 people in Ohio now have health insurance coverage

Ohio health insurance

Ohio’s uninsured population is falling quickly thanks to the growing availability of insurance coverage The number of people without health insurance coverage in Ohio has fallen over the past year. The state is one of 15 others that have reported a decline in their uninsured population. This trend is largely due to the Affordable Care Act, which launched insurance exchanges in every state and helped make coverage more accessible to those that need it. While the federal health care reform law has its flaws, some aspects of the law have…

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Health insurance controversy ignites in Ohio

Ohio Health Insurance Exchange

Controversy over sub-standard insurance policies in Ohio begins to brew New controversy has been sparked in Ohio concerning health insurance coverage and the Affordable Care Act. The state’s insurance companies are letting old insurance policies that do not comply with current federal standards expire. These policies had been allowed to exist due to changes made to the Affordable Care Act in order to ensure that those that could not access the state’s insurance exchange would remain insured. Whether or not these policies would be allowed to expire in Ohio is…

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