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2011 destructive weather which included tornadoes, floods and hurricanes means that the cost of  your homeowners insurance in Ohio is likely continue to climb.

The price of home insurance has been increasing even before the storms in 2011. Prices have been increasing steadily for over three years now. 

You see, insurance companies are forbidden to increase rates to recoup past losses.  However they have to base rates on the predicted future losses they expect, and a insurance company can use the data from losses in the past to determine the current rates.

We are already seeing increased rates from most carriers.  Which could result in you seeing a few dollars difference in you monthly bill.

   Average rate increase in 2012

rate increase for ohio home insuracne in 2012
The average Ohio homeowners insurance policy cost $666 in 2010. Ohio has the sixth-lowest figure in the nation, according to the Ohio Insurance Institute. So Ohio insureds should feel lucky about that.

Ohio Insurance Department data show that home insurance cost were increased by the top 10 insurance companies, in Ohio they jumped 8.7 percent in 2010, 9.7 percent in 2009 and 7.1 percent in 2008.

State Auto Financial a local Columbus insurance company has been one of the worst hit company with losses, not only in Ohio, but throughout the entire country.

2011 was one of the worst in terms of insurance claims since Katrina. This should tell you how much money was paid out in claims.   2011 catastrophic tornadoes, floods and hurricanes means that the cost of insuring your home in 2012 will continue to climb.

The only suggestion we have is to shop around and see who is going to have the best rates for you in 2012.  Call us is and we can work up some quotes for you.

614 560 7875
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