A Guide to Home Insurance in Ohio (OH)

When you are exploring getting Ohio Home Insurance then it can sometimes seem like there are a bewildering range of options, but often without clear guidance on which factors are the most important to consider when reaching your judgments.

The fact is that if you have a home in Columbus, Cleveland, Cincinnati, Toledo or any of the other big cities or towns in Ohio, then you will need to get good insurance cover.

The homes that we live in are the biggest investment that most of us have, and are also where the vast bulk of our wealth are tied up, so it only makes sense to protect that investment by getting a good Ohio Home Insurance policy that provides enough cover for both the value of our home and the possessions that we will have built up in it over the years.

Looking at the crime statistics for some of Ohio’s big cities can be an eye-opener with regards to the possibility of theft, with 20,936 property crimes reported in Cincinnati alone, and 50,198 in Columbus. Both of these cities are rated nationally as only being safer than just 4% of the other cities in the United States.

This serves to illustrate that even in a state like Ohio where most of the time people feel fairly safe, that there is in fact an undercurrent of crime that is real and that does happen to people just like you.

If we consider Ohio as a whole then there were 391,862 crimes against property last year, and so the average resident of Ohio has a 1 in 29 chance of being a victim.

So it is really only common sense to sort out comprehensive Ohio Home Insurance that can protect your finances in the event that you are a victim.

The other factor to consider is that homeowners insurance doesn’t just protect you against theft. It also provides cover against unforeseen disasters like fires.

The good news is that over the last few years fires have actually been declining if you look at statistics from the Ohio Fire Prevention Bureau. But nevertheless there are still over 90,000 fires every year in Ohio, and cumulatively every year these cause a dollar loss of over $300 million dollars in Ohio alone.

And whilst fires are always bad news, at least if you have taken out an affordable Ohio Home Insurance policy that covers your losses, then you will be able to make like the Rudyard Kipling poem ‘If’ and rebuild again from the ashes. 

If you haven’t done this then you will find yourself in the unenviable position of not only having no-where to live, but also having to service the debt on a property that you cannot even live in.  You may believe that all of the insurance issues with relation to your home are handled by the mortgage company, if you have a loan out on the property, but often the mortgage company is not particularly concerned about the contents of your home, and so any policy that they take out may cover the cost of rebuilding, but may not adequately protect all of the contents of your property.

It is simply not worth taking the risk, because whilst undoubtedly Ohio Home Insurance is an extra expense, it is a very necessary one if you are to provide a decent safety net for your finances.


What is the Average Cost of Ohio Home Insurance?


Assuming that you have decided to take out a good policy, it is still a good idea to get a better idea of what the typical costs of the cover might be.

The average cost of home insurance in Ohio is $565 a year according to the latest government statistics, which is actually the 7th cheapest of any insurance cover in the United States.

Clearly this will differ greatly between an inner city area and a rural retreat, but it is nevertheless heartening to realize that any insurance cover that you do take out is likely to be far better value and more affordable than in many other states.


 

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