Ohio’s Auto and Homeowners Insurance Premiums Among Lowest in the U.S.

COLUMBUS – February 6, 2013 – (RealEstateRama) — Lieutenant Governor and Department of Insurance Director Mary Taylor announced Ohio’s average auto and homeowners insurance premiums are again among the lowest in the nation.

“Ohio’s competitive insurance market continues to provide consumers with choice and lower insurance premiums compared to the rest of the country,” Taylor said. “I encourage all Ohioans to review their insurance coverage regularly to ensure they have the best policy at the best price to meet their needs.”

According to 2010 data, the most recent available from the National Association of Insurance Commissioners (NAIC), Ohioans paid the ninth lowest average auto insurance premium of $619. The state ranked 10th in 2009. Ohio’s average homeowners insurance premium of $624 once again ranked sixth nationally. The NAIC concluded the national average premium for auto insurance was $791 and $906 for homeowners insurance.

The average homeowners insurance premium is a weighted average of all the policy forms. It is determined by dividing the total premium for a state by the number of insured homes.

Ohioans with insurance questions or concerns can call the Department’s consumer hotline at 1-800-686-1526 and visit www.insurance.ohio.gov for free information. You can follow the Ohio Department of Insurance on twitter @OHInsurance and on Facebook at www.facebook.com/OhioDepartmentofInsurance.

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