Cincinnati homeowners pay an average of $1,346 per year for home insurance with a $1,000 deductible and $300,000 in dwelling coverage, according to Insurify data. This is significantly lower than the national average of $2,377 per year for the same coverage.
While Cincinnati has affordable homeowners insurance, a standard policy that protects your home and belongings doesn’t cover flood damage. If your home is at risk for flooding, you may want to invest in additional flood insurance.
Here’s what you need to know about home insurance in the Queen City.
Best home insurance companies in Cincinnati
Several of the leading homeowners insurance companies serve Cincinnati residents. The right homeowners insurance company for you will depend on your particular budget, needs, and preferences.
To help you start your search, here are four of the best homeowners insurance companies in Cincinnati.
Cheapest rates: Buckeye Insurance
Buckeye Insurance has some of the lowest premiums for home insurance policies in Cincy. The company has average annual rate much lower than the state and national averages. Buckeye Insurance also offers helpful add-ons, like service line coverage and equipment breakdown coverage.
Best insurer for veterans: Ohio Mutual Insurance
About 5% of Cincinnati residents in Queen City are veterans. If you’re a veteran in the area, you may want to explore Ohio Mutual Insurance. The insurer offers a veteran discount that can help you score a lower premium. Plus, you can choose from a long list of additional coverage options and work with a local insurance agent to zero in on the ideal home insurance policy for your unique situation.
Best insurer for residents with home-based businesses: American Family
Best insurer for personalized service: Cincinnati Insurance
Cheapest home insurance in Cincinnati
If your goal is to land the cheapest home insurance coverage in Cincinnati, Buckeye Insurance is your best bet. On average, Cincy policyholders with coverage from Buckeye Insurance pay $634 per year for $300,000 in dwelling coverage.
The table below highlights the cheapest home insurance companies in Cincinnati. The average annual premiums reflect the cost for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
Cost of homeowners insurance in Cincinnati
The average cost of homeowners insurance with $300,000 in dwelling coverage in Cincinnati is $1,346 for a policy with a $1,000 deductible and $1,410 with a $500 deductible.
Various factors will determine your rate, including your preferred coverage level, the value of your personal belongings, the size of your home, the deductible you choose, and your history with home insurance claims.
Cost of homeowners insurance by dwelling coverage amount
If your Cincinnati property sustains damage from a covered loss, it’s important that you have enough dwelling coverage to rebuild it. Your home’s age, square footage, number of stories, and interior features will dictate the right dwelling coverage amount. Higher dwelling coverage will result in more expensive home insurance rates.
Here’s a look at how different dwelling coverage levels in Ohio may affect annual home insurance premiums. Rates shown are for home insurance policies with a $1,000 deductible.
Cost of homeowners insurance by deductible
Your home insurance deductible is how much you’ll owe out of pocket after a covered loss before your policy applies and takes care of the rest. A higher deductible will lead to cheaper premiums, but you’ll need to ensure you have the funds to cover higher out-of-pocket costs after you file a claim for an insured event.
This table shows how deductible amounts affect annual home insurance rates in Cincinnati for policies with $300,000 in dwelling coverage.
How to get cheap homeowners insurance in Cincinnati
Follow these tips to land cheaper home insurance in Cincinnati:
Shop around. It’s a good idea to get quotes from at least three different home insurance companies in Cincinnati. Compare premiums, coverage options, deductibles, dwelling limits, customer service, and financial stability to find the best policy and right coverage.
Look for discounts. Most home insurers offer discounts that can help you save money on your homeowners insurance coverage. A green-home discount, loyalty discount, and veterans discount are a few examples of the common discounts available.
Bundle home coverage. If you need another insurance policy, such as car insurance, condo insurance, renters insurance, or life insurance, bundle it with your home insurance. Many homeowners insurance companies offer discounts to people who purchase multiple policies and products from them.
Increase your deductible. Choose a higher deductible to lower your home insurance costs. This is a particularly good option if you have substantial savings or wiggle room in your budget to cover higher out-of-pocket expenses following a home insurance claim.2
Maintain good credit. Some insurance agencies will consider your credit history when you apply for a home insurance policy. A good-to-excellent credit score can lower the price of your coverage.
Ohio homeowners insurance rates by city
Your city and ZIP code within Ohio will influence your home insurance premiums. Different cities and areas can yield different homeowners insurance quotes as a result of variances in weather, crime rates, and proximity to fire stations. For example, if you live in a flood zone, you can expect higher rates than a Cincinnati resident in a low-risk flooding area.
Find out how rates compare in some other Ohio cities. Premiums shown below are for policies with a $1,000 deductible and $300,000 in dwelling coverage.
How much homeowners insurance do you need in Cincinnati?
The state of Ohio doesn’t require home insurance. But if you have a mortgage on your home, your mortgage lender or company may ask for it. Before you sign on the dotted line and take out a home insurance policy, read the terms carefully so you know exactly what your policy covers. This can help you avoid hidden fees and surprise expenses down the road.
What are some of the biggest risks when owning a home in Cincinnati?
As a Cincinnati homeowner, it’s a good idea to prepare yourself for a few risks and natural disasters that might affect your home, such as: