Cleveland has a rich history and a robust cultural life, and 41.6% of residents own their own house in the city. The city fight against crime, however, and winter weather challenges make a strong home insurance policy a must.
The average home insurance rate for a home of $ 250,000 is $ 1,165, which is lower than the national average of $ 1,312. To find the cheapest home insurance in Cleveland, Bankrate looked at cost, customer service, and financial stability.
Best Cheap Home Insurance Companies Cleveland
We looked at which Cleveland home insurance providers had the lowest average premium rates in Cleveland, rankings as well as consumer watchdogs such as JD Power & Associates, as well as the coverage options and discounts available. The next five came out on top.
|Home insurance company||Average annual premium for a liability of $ 250,000||JD Power Customer Satisfaction Score|
|Car owners||$ 865||843/1000|
|American family||$ 886||821/1000|
|State farm||$ 1,101||829/1000|
|At national scale||$ 1,112||808/1000|
Auto owners have the lowest average annual premium of all our picks, at $ 865 for $ 250,000 in coverage. That’s $ 300 less than the Cleveland average. It ranks near the top of JD Power’s influential home insurance study, which monitors customer satisfaction.
Auto-owners is particularly well suited to owners of high-value homes, as it offers additional coverage for items such as line repairs, boats and all-terrain vehicles, and special personal property, which offer more than protection than the police mean for your business.
Learn more: Automobile Owners Insurance Review
AmFam offers low rates for Cleveland homeowners, well below the city average. The company has decent ratings from consumer watchdog organizations and an “A” rating from AM Best, which monitors financial strength.
You’ll find a handful of optional covers at American Family, including equipment breakdown, matching liner protection, sump pump, and water make-up. There are also discounts that can lower your costs even further, including a loyalty discount, a new home discount, and a discount for doing a home system renovation in the past 15 years.
Learn more: American Family Insurance Review
Average Allstate rates are low, and the company has a good reputation for providing solid and professional customer service. It comes with a few cool extras: for example, the company’s Claim Rateguard, an optional feature, means your premium won’t increase just because you file a claim.
Allstate offers a robust line of optional covers, from identity theft restoration to electronic data recovery. You can find discounts to bundle your home insurance with auto, have a good payment history, and a No Claims Discount that rewards you up to 20% if you switch to Allstate with no recent home insurance claim.
Learn more: Allstate Insurance Review
While not at the top of the list for low premiums or customer service, State Farm has respectable, above-average scores for both. Its website is among the best in the industry and features an informative blog that helps you learn more about your insurance and homeownership.
State Farm offers fewer discounts than some insurers, but the ones it does can save money. Discounts include bundling, installation of a home alert system, and use of impact resistant roofing products.
Learn more: Review of State Agricultural Insurance
At national scale
Even though it has the highest average price of our top five, Nationwide’s premium costs are still below the Cleveland average. In addition to the standard home and home liability coverage, it comes with optional coverages including identity theft, premium replacement cost (which pays up to an additional 20% of your property line if your home needs to be rebuilt) and flood insurance.
Your rate may be lower than the Nationwide average if you are eligible for discounts. Possible discounts include a discount for being claim free, doing home or rooftop renovations, or living in a gated community.
Learn more: National insurance review
Home insurance options in Cleveland
Home insurance in Cleveland is not required by law. Your mortgage banker, however, may require that you purchase a policy. A simple standard policy will cover your home, property and other structures, as well as civil liability, from a list of named perils, including damage caused by fire, wind and hail. Optional endorsements, or endorsements, include the following:
- Flood insurance: If you live in a flood-prone area, flood insurance is a must-have – and it’s not included in regular home insurance policies. Your insurer may sell policies offered by the National flood insurance program, and they are worth considering if your property is near a body of water.
- Identity theft recovery: Identity theft is more and more common and many insurers offer protection to cover legal fees and other costs that you could incur if your identity is stolen. This can be part of your base policy or an additional rider.
- Scheduled personal property: This optional cover provides a higher level of support to cover valuables such as jewelry, antiques or fine art. You can also find coverage options specifically for sports equipment, musical instruments, or electronics.
Discounts on home insurance in Cleveland
One tool in the homeowner’s toolkit when finding the best cheap home insurance in Cleveland is the ability to use discounts to lower your premium costs. Most insurers offer at least a few, and they are often easy to win.
Here are a few that are commonly offered to Cleveland owners:
- Loyalty discount: You may be able to save 5 to 10% by changing insurer, or get a discount if you have been insured for a number of years.
- Grouping: Almost all insurers offer a small discount if you purchase more than one insurance policy, such as home and auto or home and life.
- Online font management: If you agree to receive insurance documents by email rather than regular mail, you can save 5% or more. You can also save by paying your bill online.
- Protection devices: Anything that protects your home from damage should earn you a discount. This includes smoke detectors, burglar alarms and sprinkler systems.
Each insurer’s list of discounts is unique to that business and the amount of the discount varies from insurer to insurer, but these common discounts are most often found with large national companies such as Allstate and State Farm.
Frequently Asked Questions
What is the best home insurance company?
The best insurer for you is the one that offers the most extensive coverage options at the lowest price and with the best customer service. There are a number of excellent insurers who write policies in Cleveland, so your best bet is to call several and work with an agent to get quotes to compare.
How much does home insurance cost in Cleveland?
The average cost of home insurance in Cleveland is $ 1,165 for a $ 250,000 property. Your own cost will most likely be different. The top price is determined by several factors, including the location and age of your home, its makeup, and your own credit rating.
How Much Home Insurance Do I Need in Cleveland?
You need enough home insurance so you can rebuild if a disaster hits and destroys your home. This amount is not necessarily the market value of your home, but rather relates to the cost of construction in your area per square foot. If you just bought your home, your real estate agent can help you determine this amount, as can your insurance agent.
Bankrate uses Quadrant Information Services to analyze rates for all zip codes and landlords in all 50 states and Washington, DC.
- Coverage A, Housing: $ 250,000
- Cover B, Other structures: $ 25,000
- Coverage C, Personal Property: $ 125,000
- Coverage D, Loss of use: $ 50,000
- Cover E, liability: $ 300,000
- Coverage F, Medical Payments: $ 1,000
Homeowners also have a $ 1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should only be used for comparison purposes. Your quotes may be different.
Rates are determined based on 2021 Quadrant Information Services data.