Report: Ohio Ranked 6th for Low-Cost Homeowners Insurance

A report showed Ohio homeowners pay some of the lowest insurance rates in the nation, despite a slight increase in rates during the most recent year.

The Ohio Department of Insurance says new figures from the National Association of Insurance Commissioners show the state’s average homeowners insurance premium rose to $545 in 2005, from $530 the year before. The 2005 national average was $767.

Ohio climbed from seventh to sixth among states with the lowest premiums.

State insurance director Mary Jo Hudson said Ohio’s market for insurance is a competitive one, benefiting homeowners.