Ohio Home, Auto Insurance Costs Still Below National Average

An insurance industry trade association says homeowner and auto insurance costs for most Ohioans remain below the U.S. average.

The Ohio Insurance Institute released a report saying Ohio has the sixth lowest average homeowners premium and the 10th lowest average auto insurance premium based on 2011 statistics from the National Association of Insurance Commissioners. The institute represents insurance companies and agent groups for Ohio’s property and casualty industry.

The Ohio group projects the average homeowners insurance premium for 2014 will be $750. That compares with a national average of $1,100 based on Insurance Information Institute estimates. The Ohio group projects the average auto insurance premium for Ohioans in 2014 will be $671, compared with $846 according to the Insurance Information Institute.