The Ohio Department of Insurance announced Wednesday the average rate changes in 2016 for the top 10 homeowners and private passenger auto insurance groups in Ohio.
Rates increased 1.9 percent for homeowners and 3.1 percent for auto insurance. Even with the increase, Ohioans pay among the lowest average insurance premiums for homeowners and auto insurance.
Ohioans pay an average of $797 for homeowners insurance and $683 for auto insurance compared to the national average. Ohio’s combined average premiums are $518 below the national averages.
Changes in auto insurance rates can be associated with medical costs, weather-related claims, the number of cars on Ohio roads and repairs costs. Homeowners insurance rates can be impacted by weather-related claims, and building and material costs.