Ohio Auto Insurance Rates Are Among The Best In The US
The State of Ohio was recently acknowledged as having some of the lowest homeowners and auto insurance rates in the country. Since we both quote and write new car insurance policies in all 50 states, I cam say with first hand knowledge the following statement is true. Ohio auto insurance rates are among the best in the United States.
The National Association of Insurance Commissioners (NAIC) showed that Ohio has the 6th lowest average homeowners insurance rates and the 10th lowest average auto insurance rates in the Unites. In 2008-2009 NAIC figures, Ohio holds the 9th lowest for auto insurance and 11th lowest for homeowners.
This development according to Taylor is fortunate for Ohioans as they now have an insurance market “that produces competitive rates for consumers.” The insurance director disclosed that this had become possible as they have been removing “burdensome and duplicative regulatory requirements” in the state. Through this, the state of Ohio has been attracting business growth and has maintained rates stability.
As for Ohio auto insurance rates change last year, the top 10 private passenger auto insurance groups had only seen an increase of 1.2 percent. The change on auto insurance rates is related to the medical costs, the number of cars on Ohio’s roads, repair costs, and the weather-related claims.
Ohio’s Department of Insurance has been making sure that insurance rating plans comply with the state’s insurance law and that the rates remain actuarially sound, as to ensure that Ohioans enjoy good insurance rates.