Ohioans pay among lowest in nation for auto/home insurance

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.

“The Ohio insurance market is strong and competitive,” Froment said. “In turn consumers are provided the opportunity to choose from many offerings to find the right policy at the right price.”

The National Association of Insurance Commissioners determined Ohioans paid an average of $819 (9th lowest) for homeowners insurance and $703 (14th lowest) for auto insurance in 2015 (the most recent data available) compared to the respective national averages of $1,173 and $889. The combined average savings for Ohioans is $540 below the national averages.

Froment advises consumers to compare products from different companies to help save money. She also urges people 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.