Ohio citizens will see rising auto, home insurance rates

State data released on August 19, 2013 showed that Ohio’s 10 biggest homeowner insurance companies raised rates by 7.6 percent last year. That’s the fifth straight increase of at least 6.4 percent. But there is still some good news for the people of Ohio. Despite the increases, the state remains a relative bargain for insurance.

The average homeowner premium last year was $685, compared with the national average of $968, according to Ohio Insurance Institute estimates. Auto insurance for the typical Ohio driver, meanwhile, cost $648 last year, $200 less the national average.

The auto rates were the ninth lowest in the country as of 2010, according to the most recent figures available from the National Association of Insurance Commissioners. The homeowner rates were the sixth lowest.