Best & Cheapest Homeowners Insurance in Akron, OH June, 2024

Farmers provides the most affordable homeowners insurance to homeowners in Akron, with an average annual quote of $590.

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Updated: 05 May 2024
Written by
Bob Phillips
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In our comprehensive review of homeowners insurance providers in Akron, OH, Farmers emerges as the most budget-friendly option, with average annual rates of $590. However, keep in mind that the best insurer for you may vary based on your unique circumstances and requirements.

For instance, if your credit score has taken a hit, Travelers stands out as the most economical choice with an average annual premium of $1,170. On the other hand, if your home is on the older side, Auto-Owners rises to the top with competitive rates of $1,106 per year and comprehensive coverage.

For proud owners of newly constructed homes, State Farm offers the most cost-effective solution at $474 per year. And for those with a history of claims, State Farm still provides an affordable and understanding solution at $1,307 per year.

Lastly, if you possess a wealth of personal property that needs protection, Farmers again proves to be your best bet, offering extensive coverage at a reasonable $633 per year.

Our in-depth analysis at Insuranceopedia is designed to guide you toward the perfect fit for your homeowners insurance needs. By comparing customer ratings, analyzing personal experiences, and presenting comparison charts, we provide all the information necessary to make an informed decision.

How much is homeowners insurance in Akron, OH?

Farmers provides the most affordable rate for homeowners insurance in Akron at $590 annually.

As shown below, rates in Akron are lower than the national average and also lower than the average in the state of Ohio.

Area Average Monthly Rate
National $1,820
Ohio $1,239
Akron $740

It’s important to understand that insurance rates are not one-size-fits-all. They can fluctuate significantly based on a variety of factors.

Cheapest Homeowners Insurance in Akron, OH 2024

Our Methodology

To find the cheapest home insurance rates in Akron, we analyzed findings from numerous home insurance review sites, some of which analyzed rates from public filings obtained by Quadrant Information Services. We've used an average of those rates for this review, but it's important to note that each company's rates change frequently and will vary based on your situation. Additionally, the overall rating includes my subjective opinion based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

15+

Years Of Industry Experience

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Brands Reviewed

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Research Hours

Cheapest homeowners insurance in Akron, OH

Farmers emerges as the cheapest overall option for homeowners insurance in Akron, OH, with an average annual rate of $590.

Company Annual Premium
Farmers $590
Auto Owners $640
Nationwide $784
State Farm $870
Allstate $897

The cost of your policy is influenced by many factors, including location, home value, and your claims history. Farmers provides a balanced blend of affordability and comprehensive coverage.

Cheapest Homeowners Insurance In Akron If You Have an Older Home

For those with older homes, Auto-Owners offers the cheapest rates, averaging $1,207 per year.

Insurance Company Average Annual Premium
Auto Owners $1,207
USAA $1,326
Progressive $1,572
State Farm $1,242
Nationwide $1,440

Older homes often come with specific risks and maintenance issues, which can drive up insurance costs. Auto-Owners offers competitive rates and coverage tailored to meet the needs of older homes.

Cheapest Homeowners Insurance If You Have Poor Credit

If you have a poor credit score, Travelers provides the most affordable solution, with an average annual rate of $1,170

Insurance Company Average Annual Premium
Travelers $1,170
USAA $1,407
Nationwide $1,560
State Farm $1,952
Farmers $3,640

Your credit score can significantly affect your insurance rates as insurers consider it a key factor when calculating risk. Travelers recognizes that everyone deserves fair coverage, regardless of their financial history.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’ve recently bought a new house, Auto-Owners has a great deal for you, offering the most budget-friendly option at an average yearly cost of $474.

Insurance Company Average Annual Premium
Auto-Owners $474
Farmers $490
USAA $540
Nationwide $635
Allstate $679

Auto-Owners stands out for its ability to offer affordable insurance policies tailored to the unique coverage needs of new constructions, which can differ from those of older homes.

Cheapest Home Insurance Rates for Lots of Personal Property

Farmers provides the most affordable rates for insuring a substantial amount of personal property, boasting an average annual rate of $633.

Insurance Company Average Annual Premium
Farmers $633
Auto-Owners $710
USAA $865
State Farm $902
Erie $938

As your personal property increases, so do your coverage requirements, potentially leading to higher premiums. Farmers offers comprehensive coverage at fair rates, guaranteeing that all your possessions are well protected.

Cheapest Home Insurance In Akron for a History of Claims

State Farm offers a cost-effective solution for homeowners with a track record of claims, providing an average annual rate of $1,307.

Insurance Company Average Annual Premium
State Farm $1,307
Farmers $1,514
Allstate $1,726
USAA $2,043
Nationwide $2,274

Insurers typically view a history of claims as a risk factor that can result in higher premiums. However, State Farm takes a different approach by offering reasonable rates to individuals with past claims, believing in second chances for homeowners.

Best Homeowners Insurance Companies in Akron, OH

Deciding on the right homeowners insurance isn’t just essential—it’s a strategic choice. Akron’s homes, with their rich history, are as distinct as its residents. That’s why it’s crucial to find an insurance provider that offers thorough coverage at competitive prices.

To simplify your decision-making, we’ve put together a list of the top homeowners insurance companies in Akron, OH. These companies were evaluated based on their annual premiums, coverage choices, customer satisfaction scores, and overall dependability. Check out our comparison chart below to discover the ideal match for your home insurance requirements.

Company Annual Premium
Farmers $590
Auto Owners $640
Nationwide $784
State Farm $870
Allstate $897
Erie $740
Travelers $599
American Family $715

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in Akron, OH can vary significantly based on the zip code. Here are the tables displaying the rates for different zip codes in Akron, including the cheapest and most expensive zip codes for annual home insurance premiums:

ZIP Code Average Insurance Premium (Annual)
44304 $1,109
44313 $1,036
44310 $987
44321 $984
44333 $1,117
44301 $1,130

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
44314 $991
44310 $987
44321 $984

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
44333 $1,117
44319 $1,201
44301 $1,130

Average Home Insurance Rates in Akron, OH by Deductible Amount

The deductible you choose for your homeowners insurance policy can have a notable impact on premium rates in Akron, OH. Below is a breakdown of how average home insurance rates change based on varying deductible amounts:

Deductible Annual Rate
$500 $1,176
$1,000 $1,042
$1,500 $1,013
$2,000 $956
$5,000 $799

Average Home Insurance Rates in Akron, OH By Coverage Amount

The dwelling coverage amount is a crucial factor that affects your insurance premium. It represents the maximum sum your insurer will pay to rebuild or repair your home in case of damage or destruction. Here’s a comparison chart illustrating the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $876
$250,000 $1,087
$300,000 $1,251
$350,000 $1,360
$400,000 $1,577

Average Home Insurance Rates in Akron, OH by Company

Below is a comparison table with annual premiums from some of the top providers in Akron:

Company Annual Premium
Farmers $590
Auto Owners $640
Nationwide $784
State Farm $870
Allstate $897
Erie $740
Travelers $599
American Family $715

How Much is Homeowners Insurance for Other Cities in Ohio?

Here’s a detailed comparison chart highlighting the most affordable insurance companies and their annual premiums in different cities throughout Ohio.

City Annual Premium
Cincinnati $1,184
Avon $967
Hartville $1,060
Columbus $1,364

Getting Online Homeowners Insurance Quotes in Ohio

Websites like Insuranceopedia make it easy to find the right coverage for your specific needs. With quick online quotes from top-rated insurers, Insuranceopedia allows you to compare rates easily.

Simply enter your information, and we’ll handle the rest by presenting you with a range of tailored options. This way, you can confidently select a policy that offers the best value, striking a balance between cost and comprehensive coverage.

FAQs

Who has the cheapest home insurance in Akron, OH?

Farmers offers the most affordable home insurance in Akron, OH, with an annual premium of $590.

What is the average cost of home insurance in Akron, OH?

The typical cost of homeowners insurance in Akron, Ohio, hovers around $740 annually.

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