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Average Ohio Homeowner’s Insurance 6th-Lowest in US
COLUMBUS, Ohio -- This state’s average homeowner’s insurance premium again ranks among the lowest in the country, says Lt. Gov. Mary Taylor, also director of the Ohio Department of Insurance. The national average was $968 per year compared with $652 for Ohioans.
“Thanks to competition, choice and a very strong insurance market, Ohio homeowners are paying $300 less for their insurance compared to the national average,” Taylor said in a statement. “Having the sixth-lowest premiums in the country for a second straight year means consumers are saving more of their hard-earned dollars. I encourage all homeowners to talk to their agent on a regular basis and shop around for the coverage that best meets their needs.”
The average homeowner’s 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 residences. The averages are based on 2011 data, the most recent available figures from the National Association of Insurance Commissioners.
Published by The Business Journal, Youngstown, Ohio.
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