Best & Cheapest Homeowners Insurance in Toledo, OH May, 2024
Nationwide offers the cheapest homeowners insurance to homeowners in Toledo, with an average annual quote of $1,051
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
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.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
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.
Sources
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