Ohio Auto Insurance Rates Increasing from Hurricane
Tuesday, July 28th, 2009
According to the article “Hurricane Ike raises Ohio home, auto insurance rates” on Cantonrep.com from the Associated Press, Ohio auto insurance and homeowners insurance is on the rise. The Ohio Department of Insurance show that rates are up 6.9% for homeowners and up .8% for auto insurance most likely due to Hurricane Ike from last fall.
The storm crushed much of Ohio in the fall of 2008 and caused a very large number of claims which in turn affect everyone’s insurance rates. Officials say this is a common reason for premiums to increase. The Insurance Department’s analysts predict homeowner and auto insurance rates will continue to increase throughout 2009. The director, Mary Jo Hudson states that Ohio still has some of the lowest insurance rates in the U.S. As an example Ohioans pay an average of $542 a year for homeowners insurance, but the national average is $801. So, Ohio policyholders shouldn’t be too discouraged. It is definitely worth shopping around for quotes if you feel you do not have affordable auto insurance.
