Ohio Home Insurance

If you are a homeowner in Ohio, you might be wondering about the laws, policies and cost of homeowners insurance in your state. Homeowners insurance is a type of coverage that protects your home and personal belongings from damage or loss caused by perils such as fire, theft, windstorm, hail, etc. It also covers your liability if you are sued for causing injury or property damage to others.

Homeowners insurance is not legally required in Ohio, but it is highly recommended for your financial security. If you have a mortgage on your home, your lender will likely require you to have homeowners insurance as a condition of your loan. According to the **General Assembly of the State of Ohio**, a lender can require you to purchase coverage, but they cannot force you to buy it from a specific company or agent. They also cannot charge you a fee for choosing your own insurer.

The cost of homeowners insurance in Ohio depends on many factors, such as the location, size, age and condition of your home, the amount and type of coverage you choose, your deductible, your credit score, and the claims history of your property and neighborhood. According to the **Ohio Department of Insurance**, the average annual premium for homeowners insurance in Ohio was $862 in 2017, which was lower than the national average of $1,211.

The policies and coverages of homeowners insurance in Ohio vary depending on the company and the plan you select. However, most standard policies include four types of coverage: dwelling, personal property, liability and additional living expenses. Dwelling coverage pays for the repair or replacement of your home's structure if it is damaged by a covered peril. Personal property coverage pays for the repair or replacement of your belongings if they are damaged or stolen by a covered peril. Liability coverage pays for the legal expenses and damages if you are sued for causing injury or property damage to others. Additional living expenses coverage pays for the extra costs of living elsewhere if your home is uninhabitable due to a covered peril.

There are some perils that are not covered by most standard homeowners insurance policies in Ohio, such as flood, earthquake and mine subsidence. You may need to purchase separate policies or endorsements to cover these risks. For example, flood insurance is available through the **National Flood Insurance Program**, earthquake coverage can be added as an endorsement to your policy, and mine subsidence coverage can be purchased from the **Ohio Mine Subsidence Insurance Underwriting Association**.

Homeowners insurance is a complex and important topic that affects your financial well-being and peace of mind. If you have any questions or concerns about the laws, policies and cost of homeowners insurance in Ohio, you should contact a licensed insurance agent or broker who can help you find the best coverage for your needs and budget.