Best Homeowners Insurance In Ohio For May, 2024

Our top pick for the best homeowners insurance in Ohio is State Farm. It has received an A++ rating from AM Best for its exceptional financial strength and stability. J.D. Power also gives State Farm a high rating of 829 out of 1000, reflecting the positive reviews from satisfied customers. With numerous neighborhood offices and agents throughout Ohio, State Farm provides convenient service for policyholders.

State Farm’s standard home insurance policy offers coverage that sets it apart from other insurers. For instance, it provides coverage for debit or credit card fraud and offers ordinance or law coverage for HOA compliance with strict codes. Additionally, State Farm allows for customization of coverage to meet unique needs. Their Better Roof Replacement option, for example, covers the cost of upgrading roofing materials after a covered event like a storm.

Another standout feature of State Farm’s homeowners insurance is the Brand New Belongings option, which provides coverage for the replacement cost of personal belongings or valuables. This coverage reimburses you for the cost of replacing items at their current value. To utilize this coverage, you simply need to purchase replacements, file a claim with receipts, and State Farm will reimburse you for the cost minus depreciation.

Initiating the process of purchasing home insurance from State Farm is simple and can be done online. However, to finalize the purchase, you’ll need to meet with one of their agents. State Farm’s website also offers convenient tools for tasks such as paying insurance premiums, researching coverage options, and filing claims online. Additionally, their online resource library provides valuable information to help customers learn about insurance.

Farmers Insurance stands out for its extensive range of perks offered to policyholders, as well as its top rating for customer service in the Online Experience category. This high level of customer service is attributed to the thorough explanations provided about these perks. For those in the market for homeowners insurance, this can be particularly helpful. Some of the perks available from Farmers include:

• Multi-Line Policies: Bundling your coverage types, such as home and auto insurance, can save you up to 34%.
• Replacement Cost Guaranteed: Farmers’ home insurance will cover the full cost of rebuilding your home, regardless of the actual cost.
• Deductible Declines: Receive a $50 reduction in your home insurance deductible for each year your policy is active.
• Claim Free: If you go three years without filing a claim, you can receive a discount on your premium.
• Claim Forgiveness: After five claim-free years, your premium won’t increase following a claim.

Despite receiving somewhat mixed reviews regarding policyholder service, Farmers has earned a high 9.3 out of 10 rating from J.D. Power.

Chubb provides Ohio homeowners with insurance policies that offer personal liability coverage up to $100 million. Their rates are competitive, and their policies include additional features such as extended replacement cost, tree removal after storms, and lock replacement for lost or stolen keys. Chubb is also one of the few insurers that offer their own flood insurance.

The average cost of Chubb’s insurance coverage in Ohio is $1,717 per year, which is similar to the state’s average premium and lower than some competitors.

Despite its affordability, Chubb’s coverage does not compromise on quality. They offer comprehensive coverage for homes and properties, excellent customer service, coverage for higher-value homes, strong financial stability, and other benefits.

With Chubb, you can expect coverage that includes extended replacement cost, ensuring your property can be repaired or replaced even if its value has depreciated since you purchased it.

Nationwide is highly rated by AM Best with an A+ for its strong financial stability. While its customer satisfaction ratings are not as high, they are still respectable. One of Nationwide’s strengths is its extensive network of local agents and offices, making it easy for policyholders to file claims and manage their insurance needs conveniently.

Nationwide offers policy options that set it apart from other home insurance companies. For instance, they provide reimbursement for identity theft or credit card fraud. If you need to rebuild or repair your home to comply with new codes after a covered event, Nationwide will cover those costs. Legal assistance is also available if needed.

Another valuable option is Nationwide’s Better Roof Replacement, which provides additional coverage for replacing or repairing your roof with new, more expensive materials after a covered loss.

Nationwide’s Brand New Belongings option reimburses you for the value of your personal belongings after depreciation if they are damaged or destroyed. Simply purchase replacements, submit your receipts to Nationwide, and they will reimburse you for the difference in cost.

Allstate stands out for its extensive range of discounts, offering eleven compared to the industry standard of seven. These discounts can lead to significant savings on your premiums. Allstate’s unique discounts, as recognized by many analysts, include:

• Claims Forgiveness: Your rate won’t increase after filing a claim.
• Responsible Payment: Receive a discount for maintaining a good payment history.
• Bundle: Save up to 25% by bundling your home and auto insurance policies.
• New Home: Get a discount for owning a newly built home.
• Early Payment: Purchase a new policy at least seven days before your current policy renews for a discount.
• New Home Buyer: Enjoy a discount for being a recent homebuyer.
• Loyalty: Receive a 10% discount upon policy renewal.
• Claims Free: Get a five percent discount for not filing any claims within a year.
• Automatic Payment: Enroll in auto pay and receive a discount of up to five percent.
• Protective Device: Install fire and theft alarms to qualify for a discount.
• Deductible Reward: Get $100 off your deductible when you purchase your policy.

While the industry typically offers five optional coverage types, Allstate goes above and beyond with nine optional coverage types for its home insurance policies. In addition to standard options like scheduled personal property and identity theft coverage, Allstate provides coverage for yards and gardens, which increases coverage limits for items such as riding mowers and landscaping.