Have you recently wondered to yourself how lucky you have it in this great state of Ohio when it comes to how much you pay for your homeowners and auto insurance?
It may come to you as a surprise but according to an independent study and presented in a news release from the Ohio Insurance Institute (OII), we rank 6th and 9th lowest in-terms of premium expenditures in homeowners and auto insurance respectively.
Your competitive side might be asking, "Which states have better average rates than us?" For those who really (and I mean really) love Ohio you will be able to sleep tonight because Michigan does not beat us in the homeowners insurance category but the states that do are Idaho, Oregon, Utah, Wisconsin and Washington. For automobile insurance in-order are S. Dakota, N. Dakota, Iowa, Idaho, Maine, Nebraska, N. Carolina, and Wisconsin.
If you really have time on your hands check out the Insurance Information Institute which breaks down all the homeowners insurance and auto insurance costs and expenditures for each state.
For those who don't have time to look but are interested:
Highest average home insurance cost by state: Texas-$1,560/year
Highest average auto insurance cost by state: New Jersey-$1,157/year
There is no one specific policy that states recommend or companies sell. The statistics in this post are described at lengths on the links within this post and should not be taken as a comparison as to what you pay (unless you have the coverage described on the associated pages). It is always best to find out what coverage meets your need for your specific situation.
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