Ohio Auto, Homeowners Insurance Premiums Among Lowest in Nation

Lieutenant Governor and Department of Insurance Director Mary Taylor announced Ohio’s average auto and homeowners insurance premiums are again among the lowest in the nation.

According to 2010 data, the most recent available from the National Association of Insurance Commissioners (NAIC), Ohioans paid the ninth lowest average auto insurance premium of $619. The state ranked 10th in 2009.

Ohio’s average homeowners insurance premium of $624 once again ranked sixth nationally.

The NAIC concluded the national average premium for auto insurance was $791 and $906 for homeowners insurance.

The average homeowners insurance premium is a weighted average of all the policy forms. It is determined by dividing the total premium for a state by the number of insured homes.

Source: Ohio Department of Insurance