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Why are your Ohio home insurance rates going up?

Homeowners insurance, Ohio

According to the Ohio Department of Insurance Director Mary Jo Hudson, announced that the average rates for the state’s top 10 homeowners increased by 6.9 percent in 2008.

As for 2009 the top 10 insurers in the state reported an average increase of 9.7 percent in homeowners' premiums for the year, according to the Ohio Department of Insurance.

Ohio residents are seeing these rate increases in their 2010 renewals as they did in their 2009 renewals. The cause of these increases are due to claims paid from the wind storms Ohio has suffered. 

There are still insurance companies that still have low rates, you just have to know where to look. The Columbus Insurance Market can help shop your homeowners insurance with multiple insurance companies. Call us today or log on to our website to see if there might be a better deal for your insurance money.

 Here is a statement from the Ohio department of Insurance website. “While we did experience premium rate increases in 2008, it’s important to remember that Ohio still has some of the lowest insurance rates in the nation,” Director Hudson said. “The Department will continue to monitor these markets, and also assure that Ohioans have access to competitive coverage.”

Even though you are seeing your Ohio homeowners insurance rates increase, feel lucky you live in Ohio.  Even with the increases we have seen, we still have some of the lowest home insurance premiums in the country. 

Columbus Insurance Market

Posted 4:51 PM

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