Ohio Auto, Homeowners Rates Still Competitive

Ohio’s 2011 average auto and homeowners insurance rates were again among the most competitive in the United States, according to state insurance regulators.

The Ohio Department of Insurance reported that Ohio has the 10th lowest auto insurance and 6th lowest homeowners insurance average premiums in the country, dropping from 11th and 9th, respectively. The department annually compiles the state’s average auto and homeowners insurance rates.

Based on 2011 activity, the average rate change for the state’s top 10 private passenger auto insurance groups increased 1.2 percent, the lowest uptick since 2008. The average rate change for the state’s top 10 homeowners insurance groups was the lowest since 2007, increasing 6.2 percent. The top 10 insurance groups represent approximately 70 percent of the market.