Ohio Faces Unprecedented Insurance Rate Hikes Following Record Tornado Year
Ohio experienced a record-breaking 74 tornadoes in 2024, significantly impacting homeowners insurance rates across the state. The Miami Valley region was particularly affected, with multiple tornadoes touching down throughout the year. According to a January 2025 analysis by S&P Global, homeowners insurance rates in Ohio increased by an average of 36.4% from 2019 to 2024.
The storm phenomenon has affected the entire Miami Valley, not just through the massive tornadoes that hit in 2019, but also through the numerous tornadoes that touched down in 2024. Tornadoes hit various counties, including Riverside, Wright-Patterson Air Force Base, Clark County, Miami County, Logan County, and Warren County. As of 2025, Butler and Warren counties have each seen multiple EF-0 tornadoes.
The financial impacts of these storms are substantial. Homeowners insurance rates have jumped by double digits for the second year in a row. In Ohio, the effective rate change in 2024 was 10.9%, just over the national average of 10.4%. Five other states (Montana, Iowa, Minnesota, Utah, and Washington) saw premiums rising by more than 20% in 2024.
Factors Contributing to Rising Insurance Costs
Several factors are driving the increase in homeowners insurance rates. The cost of building materials has risen significantly, with the producer price index for roofing materials manufacturing more than doubling since March 2020. This increase in construction costs drives up repair and replacement expenses. Additionally, severe-weather claims are becoming more frequent and widespread, placing added strain on insurance providers.
Insurance policies are becoming more customized, and premiums are directly influenced by the level of protection selected. Historically, Ohio has had some of the lowest average homeowner’s insurance premiums in the country. According to a recent report by the National Association of Insurance Commissioners using 2022 data, Ohio had the fifth-lowest homeowners insurance rate in the country, with an annual average premium of $995, compared to the nationwide average of $1,569.
A Family’s Experience
The Vollmer family, who live on a farm in Butler County, experienced firsthand the impact of a tornado. In May 2024, an EF1 tornado touched down south of Oxford, Ohio, damaging their property. The family lost two massive grain bins, barn doors, and their roadside stand was smashed. While the family house suffered mostly surface-level damage, the emotional and financial toll was significant.
The Vollmers faced challenges with their insurance claim, particularly due to their agricultural operation. Jennifer Vollmer described the experience as ‘negative,’ citing issues with the adjuster not understanding agricultural-related losses. The family had to fight to get repairs done, including getting barn doors replaced.
Protecting Yourself and Your Wallet
As costs continue to rise, it’s essential for homeowners to review their coverage thoroughly. Insurance expert Jim Berlon emphasizes that ‘not all insurance policies are created equal.’ Homeowners should pay attention to liability limits and ensure they are not underinsured. The Ohio Department of Insurance reviews approximately 4,000 rate filings annually to ensure premiums are sound and not excessive, inadequate, or discriminatory.
Consumers can contact the Ohio Department of Insurance for guidance on making informed decisions about their homeowners insurance. By understanding their coverage options and selecting appropriate protection levels, homeowners can better protect themselves and their wallets from the financial impacts of storms and rising insurance costs.
