Homeowners Insurance in Ohio is Among Lowest in Country
Homeowners insurance for Ohioans has raised slightly, but still remains the sixth lowest in the country, according to a report issued by the National Association of Insurance Commissioners.
Ohio homeowners paid an average premium of $548 in 2007, up slightly from $542 in 2006. The national average homeowners insurance premium in 2007 was $816, up from $801 in 2006.
Florida had the most expensive premium at $1,534, followed by Texas, Louisiana, the District of Columbia, Oklahoma and Massachusetts. Idaho came in at the lowest at $422 annually, followed by Utah, Wisconsin, Oregon and Washington.
Heavily populated, vacation and retirement areas have relatively higher real estate values, which translate to a higher premium for homeowners insurance. Also, exposure to catastrophes such as fires, tornadoes, high winds, snow storms, hurricanes, earthquakes and even terrorist attacks area all factors in determining premiums.
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