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Toledo, OH Homeowners Insurance Quotes (2023)
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Written by
Jackie Cohen
Editorial Manager
Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.Jackie's work has been cited in USA Today, The Balance, and The Washington Times.
Edited by
John Leach
Insurance Content Editor at Insurify
John Leach is an insurance content editor who has worked in print and online. He has years of experience in car and home insurance and strives to make these topics easy to understand for everyone. He has a linguistics degree from UC Santa Barbara.
Updated February 28, 2022
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Toledo, OH Homeowners Insurance
Toledo may be smaller than Ohio ’s three Cs, but its 12,000 acres of public parks and recreation spaces, internationally known art museums and history of industry are nothing to scoff at. While the Toledo metropolitan area’s population has been steadily declining for over a decade, the city continues to offer its residents affordable housing costs and a slogan promising that “you will do better in Toledo.” Plus, ConnecToledo, a non-profit development corporation, is working to revitalize the city and hopes to bring new jobs, housing opportunities, and tourism to Glass City.
But Toledo ’s location bordering Lake Erie and the Maumee River running through the city leaves residents at risk for floods. Not to mention, homeowners need to protect their property from brutal winter storms and Toledo ’s high property crime rates.
Insurify makes it easy to find the coverage you need. Whether you’re a first-time buyer or are shopping around for savings on your current policy, use home insurance comparison tools to see home insurance rates, coverage options, and Ohio homeowners insurance companies to secure the best home insurance policy for you. Plus, it only takes a few minutes.
Cheapest Home Insurance Companies in Toledo
For homeowners in Toledo, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Toledo. The following are the best insurance rates from carriers that offer homeowners insurance in Toledo.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| American Family | $941 |
| Westfield | $1,122 |
| Allstate | $1,198 |
| USAA | $1,204 |
| Nationwide | $1,315 |
How to Find Cheap Home Insurance in Toledo
Housing costs in Toledo are incredibly affordable. But since many homes in the city are older and need a bit of love, insuring your Toledo home may be more difficult than you anticipated.
Still, buying a house will likely be one of the largest financial investments of your lifetime. With investment, inevitably, comes risk, regardless of the age or condition of your home. However, there are steps homeowners can take to minimize risk and protect their investment.
The first step to protecting your property is Ohio homeowners insurance. Though not required by law, home insurance provides financial liability protection for your property and belongings from natural disasters and theft. Different coverage levels are available for different property types, locations, and other factors.
Keep reading for a full guide on Toledo home insurance.
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Cheapest Home Insurance in Toledo by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in the Toledo area costs $2,242 annually, and the median home value is $84,723.
Toledo ’s annual home insurance rates are nearly $200 higher than rates in other Ohio cities like Cleveland, Columbus, and Cincinnati. If you want to save on your annual premiums, it doesn’t hurt to get a quote from multiple insurance providers. Check out the average insurance quotes with insurance providers like Nationwide, Allstate, and State Farm below.
| Average Home Cost in Toledo The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in Toledo The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $84,723 | $2,242 |
Average Annual Home Insurance Premium in Toledo by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
American Family$941
Westfield$1,122
Allstate$1,198
USAA$1,204
Nationwide$1,315
State Farm$1,654
Travelers$1,742
Grange$1,939
Erie$2,798
Farmers$2,828
Encomass$3,730
Cheapest ZIP Codes in Toledo for Home Insurance
Toledo home insurance rates are as different as the city’s neighborhoods. That’s why homeowners in Ottawa Hills pay less for their homeowners coverage than homeowners in the Vistula.
Home insurance varies in price from neighborhood to neighborhood. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. So your specific neighborhood may determine if you pay more or less on your annual premiums.
Rates in Toledo are relatively low compared to the national average, but your specific insurance quote depends on which area you live in.
Home Insurance Coverage Types in Toledo
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Ohio city level guides, check out these below.
Flood Insurance in Toledo
Toledo gets an average of 34 inches of rain and 31 inches of snow per year. But your home insurance policy likely only covers damage caused by the weight of ice and snow. With roughly 124 days of rain, sleet, snow, or hail per year, you’re going to want to make sure your home is protected from potential water damage, too.
Unfortunately, flooding is an exclusion on most home insurance policies, which means you’ll need to purchase additional coverage. Toledo participates in the Federal Emergency Management Agency’s National Flood Insurance Program, so you can purchase flood insurance even if your home is in a flood zone or high-risk area.
To purchase a flood insurance policy, talk to your private insurance agent, or purchase a policy directly through the NFIP website.
Toledo Wind and Hail Deductibles
Toledo is well-acquainted with snow and rain, but the city is no stranger to windstorms and tornadoes, either. Ohio home insurance policies often include coverage for damage caused by windstorms or tornadoes. But some companies will require you to pay a separate wind and hail deductible before your coverage kicks in. This is simply because of the high cost of protecting homes in wind-prone areas.
Wind and hail deductibles can either be a set rate (like a typical home insurance deductible ) or a percentage of your coverage amount (usually one to five percent). Make sure to check your homeowners policy to see whether wind and hail coverage is included or whether you’ll be required to pay a wind and hail deductible in case of property damage.
How to Find the Cheapest Home Insurance in Toledo
Toledo isn’t exactly a city on the rise, but that just leaves more parks, shops, and museum exhibits for the city’s current residents to enjoy. Insurify is here to make sure that insuring your Toledo home is just as affordable as purchasing your home (and a little bit easier, too).
Use Insurify to compare home insurance quotes for your property in Toledo.
Frequently Asked Questions
Your personal property coverage should be enough to replace all of your belongings in case of a natural disaster or a home burglary. The best way to determine the cost of replacing your belongings is to make a home inventory of your most important and expensive possessions. If you’re concerned about your amount of coverage, you can always opt for a replacement cost policy, which will cost a bit more but cover the total cost of repairing or replacing any damaged items.
Your insurance rate is determined based on factors like the age and value of your home, as well as personal information like your credit score. You can still save on homeowners coverage by implementing simple safety measures, like installing a home security system or reinforcing old window latches. If you’re looking for multiple insurance products like home insurance, auto insurance, and even life insurance, bundling your policies can also help you save. Homeowners who bundle their home and auto policies save upwards of 20 percent on their premiums, so ask your insurance agent if bundling can help you save.
The personal liability portion of your homeowners coverage offers protection in case anyone is hurt on your property. Most policies include $100,000 to $300,000 in liability coverage, which can pay for legal fees if your family finds itself in a lawsuit. If you own additional property or have a specific reason to need more liability coverage, most insurers will allow you to increase your limit up to $500,000. But if you only need basic liability protection, your homeowners policy’s standard coverage should be plenty.
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