Lieutenant Governor and Department of Insurance Director Mary Taylor says Ohio’s average auto and homeowners insurance rates remain among the lowest in the country despite recent increases.
In 2013, the average rate for the top 10 private passenger auto and homeowner’s insurance groups increased 2.6 percent and 7.4 percent, respectively.
At $652, Ohio average homeowners rates came in at sixth lowest in the country, the insurance department reported. The national average homeowners insurance rate is $968.
The state had the ninth lowest auto insurance rates — averaging $620. The national average auto premium is $797.
The premium averages are based on 2011 data, the most recent data available from the National Association of Insurance Commissioners (NAIC).
Ohioans’ average homeowner’s and auto premiums have historically ranked in the top 10 nationwide.
The top 10 insurance groups represent approximately 70 percent of the market in the state.
Source: Ohio Department of Insurance
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