Ohio Auto Insurance

Ohio is forecasting modest increases in Ohio auto insurance rates through the end of 2008 and even larger increases in homeowners premiums.

State insurance director Mary Jo Hudson revealed the prediction Monday while announcing that average insurance rates charged by Ohio's top ten auto insurance companies fell 2.6% in 2007. Rates for homeowners insurance went up an average 1.5%.

The National Association of Insurance Commissioners says Ohio's car insurance rates were the 13th lowest in the country last year and the state ranked 6th among those with the least expensive homeowners policies.

Ohio Auto Insurance Rates

Press release

Ohio auto insurance rates have declined for the second straight year, according to a report released by the (NAIC). Ohio currently has the 13th lowest auto insurance rates in the nation. In 2004, Ohio was ranked 14th in the United States.

Ohio residents are paying on average $668.93 in premiums for auto insurance, far below the national average of $829.17. In 2005, Ohioans paid an average of $680.14 in auto insurance premiums.

Analysts expect that rates for automobile insurance, overall, will not change significantly in 2007. Changes in automobile insurance rates can be attributed to repair costs, medical costs, weather-related claims, and the number of cars on Ohio roads.

Ohio residents with questions about auto insurance can call the Department's consumer hotline at 1-800-686-1526.