News 570 Ohio Car Insurance Rates Continue Drop

An increase in auto insurance agents in the state of Ohio has led to an increase in competition for customers. This in turn has led to a trend of decreasing car insurance rates that Ohio insurance officials hope o see continue. Last year rates last year decreased an average of 1.6 percent and homeowner insurance went up only 0.3 percent. State Farm Insurance lowered auto rates the most last year, dropping them an average of 4.3%. Nationwide Auto Insurance has a request pending with the Insurance Commissioner's office which would lower its rates by and average of 51%, effective March 6, if approved.

Read more: Ohio Auto Insurance Policy Premiums Expected to Fall (Insurance Journal) Insurance officials and company representatives are predicting that automobile insurance rates in Ohio are likely to drop this year, and homeowner insurance bills should remain mostly unchanged.