COLUMBUS — A national study revealed that Ohioans pay among the lowest average premiums in the nation for auto and homeowners insurance, Ohio Department of Insurance Director Jillian Froment announced.
“We are fortunate in Ohio to have one of the most dynamic and competitive insurance markets in the country,” Froment said. “Consumers benefit by having many options to choose from at different price points.”
The National Association of Insurance Commissioners determined Ohioans paid an average of $850 (9th lowest) for homeowners insurance and $727 (14th lowest) for auto insurance in 2016 (most recent data available) compared to the respective national averages of $1,192 and $936. The combined average savings for Ohioans is $551 below the national averages.
Froment advises consumers to compare products from different companies. She also urges Ohioans to regularly evaluate their insurance needs and amounts of coverage.
Consumers with insurance questions can contact the Ohio Department of Insurance at 1-800-686-1526. Insurance information is available at www.insurance.ohio.gov.