Ohioans pay among the lowest rates in the nation for auto and homeowners insurance according to a national industry study released today by Lieutenant Governor Mary Taylor. Taylor who also serves as Ohio Department of Insurance Director quoted from findings of a National Association of Insurance Commissioners (NAIC) annual study.
“We are focused on cultivating a competitive insurance market that benefits the consumer,” said Taylor. “That focus is generating some of the lowest premiums in the country.”
Ohioans paid an average of $763 (9th lowest) for homeowners insurance and $659 (12th lowest) for auto insurance compared to the national average of $1,096 and $841, respectively. Ohio’s combined average premiums are $515 below the national averages.
When shopping for insurance, Taylor advises consumers to carefully compare products from different companies and remember that the insured deductible can be raised to lower the premium.
More money saving tips and insurance consumer guides are available at www.insurance.ohio.gov. Consumers can also call the Ohio Department of Insurance at 1-800-686-1526 with insurance questions and follow the agency on Facebook and Twitter.