The good news about Ohio home insurance is whether you live in little Chillicothe or a big city like Columbus, Ohioans pay some of the lowest (7th) rates in the country. And the better news… you can save even more just by having a little insurance information and by comparison shopping for the best Ohio home insurance rates.

Ohio Home Insurance Q & A
Here is a list of some questions you should ask yourself before shopping for Ohio home insurance rates:

What is your home's replacement value? This won't include your property and isn't the market value or the tax appraised value. A current appraisal is a good starting point. This is what it would cost in today's dollars to rebuild.

Do you know the difference between actual cash value (ACV), replacement cost and guaranteed replacement cost? ACV pays to rebuild or replace based on the depreciated value of your home or personal property. It's the lowest cost option. Replacement will pay to rebuild or replace at today's market prices not considering depreciation. With guaranteed replacement, your home is insured to an amount above your limit (e.g. $100,000 limit + 20%) to cover factors like inflation.

Do you have children, and do they have friends who play at your home? Consider increasing the liability premium on your policy. This protects you from civil suits and injury sustained by others on your property.

Do you live in a flood-prone area? Flooding can occur in most areas of Ohio from Findley to Portsmouth. Flood insurance is separate from a regular homeowner's policy. Ask an agent about coverage.

Ohio Rate Comparisons
The other good news about shopping for Ohio home insurance rates is that there are over 100 insurers authorized to sell in the state. That means plenty of competition for your business. And that means lower rates. In 2009, the Ohio Department of Insurance surveyed 30 insurance companies to find out the range of rates offered. Here are some examples:

Toledo: $125,000 coverage for a frame home; $75,000 personal property (PP); $100,000 liability; $1,000; $250 deductible or closest company offers; replacement cost on PP; smoke detector installed.

Quotes ranged from $215 (Allstate P&C) to $1,259 (State Farm).

Cleveland: $200,000 coverage for a brick home; $100,000 PP; $100,000 liability; $1,000; $250 deductible or closest company offers; replacement cost on PP; smoke detector installed.

Quotes ranged from $221 (Allstate P&C) to $1,248 (Metropolitan Group P&C).

Cincinnati: $200,000 coverage for a frame home; $100,000 PP; $100,000 liability; $1,000; $250 deductible or closest company offers; replacement cost on PP; smoke detector installed.

Quotes ranged from $246 (Allstate P&C) to $1,283 (Metropolitan P&C).

Comparing and Saving
Insurance rates vary widely for a number of economic reasons—risk of their Ohio residents, claims paid out, operating costs, etc. With the above comparisons, it's easy to see how it pays to shop for home insurance rates with a company like LocalInsurance. LocalInurance will search the web for the policies that match your needs. And you'll get to compare from a handful of different agents in your area. It's free and takes just minutes.

If you are interested in learning more about Ohio home insurance, there are a number of resources that are offered by the state. Ohio has a Department of Insurance which can help ensure that you have the appropriate coverage for your home and provide you with useful information when selecting a homeowners insurance policy.