Best & Cheapest Homeowners Insurance in Toledo, OH April, 2024

Nationwide offers the cheapest homeowners insurance to homeowners in Toledo, with an average annual quote of $1,051

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Updated: 19 April 2024
Written by
Bob Phillips
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In our comprehensive review of homeowners insurance providers in Toledo, OH, Nationwide emerges as the most budget-friendly option, with average annual rates of $1,051. 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, USAA stands out as the most economical choice with an average annual premium of $1,584. In contrast, if your home is on the older side, Auto-Owners rises to the top with its competitive rates of $1,207 per year, and comprehensive coverage.

On the other hand, if you’re the proud owner of a newly constructed home, State Farm offers the most cost-effective solution at $703 per year. And for those who’ve had a history of claims, State Farm still provides an affordable and understanding solution at $1,537 per annum.

Last, if you possess a wealth of personal property that needs protection, Nationwide again proves to be your best bet, offering extensive coverage at a reasonable $1,004 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 will provide you with all the information necessary to make an informed decision.

 

How much is homeowners insurance in Toledo, OH?

Nationwide offers the most affordable rate for homeowners insurance in Toledo at $1,051 annually.

As you can see below, rates in Toledo are lower than the National average. They are also lower than the Ohio State average.

Area Average Monthly Rate
National $1,820
Ohio $1,239
Toledo $1,140

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

Cheapest Homeowners Insurance in Toledo, OH 2024

Cheapest Homeowners Insurance in Toledo, 2024

Our Methodology

To find the cheapest home insurance rates in Toledo, 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 each company’s rates change frequently and will vary based on your situation. Also factored into the overall rating is my subjective opinion based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Toledo, OH

Nationwide emerges as the cheapest overall option for homeowners insurance in Toledo, OH, with an average annual rate of $1,051.

Company Annual Premium
Nationwide $1,051
Farmers $1,176
Allstate $1,340
USAA $1,470
State Farm $1,520

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

Cheapest Homeowners Insurance In Toledo 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 unique risks and maintenance issues, which can drive up insurance costs. Auto Owners offers competitive rates and comprehensive coverage tailored to meet the needs of older homes.

Cheapest Homeowners Insurance If You Have Poor Credit

If your credit score is poor, USAA provides the most affordable solution, with an average annual rate of $1,584.

Insurance Company Average Annual Premium
USAA $1,584
Nationwide $1,621
State Farm $1,894
Allstate $2,615
Farmers $4,392

Your credit score can significantly impact your insurance rates as it’s a key factor insurers consider when calculating risk. USAA understands that everyone deserves fair coverage, regardless of their financial past.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’re the proud owner of a newly constructed home, State Farm offers the most cost-effective solution, with an average annual rate of $703.

Insurance Company Average Annual Premium
State Farm $703
Allstate $740
Nationwide $749
USAA $784
Auto-Owners $1,951

New constructions often require different coverage compared to older homes, and State Farm excels in providing affordable policies tailored to these specific needs.

 

Cheapest Home Insurance Rates for Lots of Personal Property

If you have a wealth of personal property, Nationwide offers the cheapest rates, with an average annual rate of $1,004.

Insurance Company Average Annual Premium
Nationwide $1,004
Allstate $1,015
State Farm $1,059
Farmers $1,070
Auto Owners $2,904

The more personal property you have, the higher your coverage needs, which can increase premiums. Nationwide provides extensive coverage at reasonable rates, ensuring all your belongings are adequately protected.

Cheapest Home Insurance In Toledo for a History of Claims

For homeowners with a history of claims, State Farm provides an affordable solution, with an average annual rate of $1,537.

Insurance Company Average Annual Premium
State Farm $1,537
Farmers $1,774
Allstate $1,459
USAA $2,143
Nationwide $2,264

A history of claims can raise red flags for insurers, often leading to higher premiums. However, State Farm believes in second chances and offers reasonable rates for those with past claims.

Best Homeowners Insurance Companies in Toledo, OH

Choosing the right homeowners insurance is not just a necessity; it’s a strategic decision. With a rich history, Toledo’s homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes paramount.

To make your decision-making process easier, we’ve compiled a list of the top homeowners insurance companies in Toledo, OH. These companies have been assessed based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below and find the perfect fit for your home insurance needs.

Company Annual Premium
Nationwide $1,051
American Family $1,284
Travelers $1,065
USAA $1,470
Erie $1,186
Farmers $1,176
Allstate $1,340
State Farm $1,520

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in Toledo, OH can vary significantly based on the zip code. Below are tables showcasing rates for different zip codes in Toledo, along with the cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
43615 $1,129
43623 $1,136
43617 $1,140
43620 $1,217
43604 $1,219
43607 $1,220

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
43615 $1,129
43623 $1,136
43617 $1,140

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
43620 $1,217
43604 $1,219
43607 $1,220

Average Home Insurance Rates in Toledo, OH by Deductible Amount

The deductible amount chosen for a homeowners insurance policy significantly affects the premium rates in Toledo, OH. Here’s how the average home insurance rates fluctuate  for different deductible amounts:

Deductible Annual Rate
$500 $1,175
$1,000 $1,062
$1,500 $1,003
$2,000 $954
$5,000 $789

Average Home Insurance Rates in Toledo, OH By Coverage Amount

One of the key components that influences your premium is the dwelling coverage amount. This is the maximum amount your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Let’s take a closer look at a comparison chart that outlines the average annual homeowners insurance premiums for different dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $856
$250,000 $1,057
$300,000 $1,271
$350,000 $1,368
$400,000 $1,557

Average Home Insurance Rates in Toledo, OH by Company

Here’s a comparison table showcasing annual premiums from some of the top providers in Toledo:

Company Annual Premium
Nationwide $1,051
American Family $1,284
Travelers $1,065
USAA $1,470
Erie $1,186
Farmers $1,176
Allstate $1,340
State Farm $1,520
 

How Much is Homeowners Insurance for Other Cities in Ohio?

The following is a  detailed comparison chart that showcases the cheapest companies and their annual premiums across various cities in Ohio.

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

Getting Online Homeowners Insurance Quotes in Ohio

With informative sites like Insuranceopedia, finding the best coverage for your unique needs is just a few clicks away. By providing quick online quotes from a variety of top-rated insurers, Insuranceopedia helps you to compare rates at a glance.

Just input your details and let us do the hard work, presenting you with a range of options tailored to your requirements. This way, you can confidently choose a policy that offers the highest value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Toledo, OH?

The cheapest home insurance in Toledo, OH, is provided by Nationwide, with an annual premium of $1,051.

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

The average cost of homeowners insurance in Toledo, Ohio is approximately $1,140 per year.

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