Birmingham, OH Home Insurance Quotes!
If you move to Birmingham, OH, you will join the already 42 people that call this beautiful town home. Families in Birmingham have an average of 2 people and they live in one of the 25 housing units that line the streets of Birmingham.
In our fair city, the majority of households are earning about $0, which is the median income in Birmingham. One of the very best things about calling Birmingham home is the fact that you can buy a house for the average price of $155,000, which makes it a very affordable community.
How much does home insurance cost in Birmingham?
Once you have purchased a home, you will need to protect it with a homeowners policy. Lucky for you, Birmingham is a very affordable town with an average homeowners insurance premium of $378 per year compared to the city average of $628/yr. Birmingham homeowners in more expensive homes with a heated square footage of more than 2,500 sq. ft. are paying around $928 a year because the dwelling coverage is more expensive to replace.
Coverage Guide for Birmingham Homeowners
One thing to consider when buying home insurance is the type of policy you need. There are different policy types that are each designed for the specific type of home that you may own. For example do you own or rent the home? Is the home a single family home, duplex or condo? These are all imporant questions that change the coverage level of the policy you may need to get the right coverage. Here is a brief description of each of the different homeowner policy types that are available to you:
- Homeowners 3 (HO-3): The most common of all homeowner insurance types is the HO-3 policy. The majority of homeowners in Birmingham are most likely carrying this policy type. It protects your home against every peril except ones that are excluded specifically in the policy.
It should be noted that all HO-3 policies exclude earthquake and flooding damage. - Homeowners 4 (HO-4): You probably know this policy type by its more familiar name, “renters insurance.” This will cover the personal property in the apartment as well as offering liability coverage for you in the event that some trips and fall or is otherwise injured in your apartment.
- Homeowners 5 (HO-5): This policy type is an upgraded HO-3. While more expensive than an HO-3 policy it also offers more coverage. These policies are not available on all homes, they are usually reserved for newer houses that fall in higher price brackets.
One of the major differences with this policy type is that your personal property is covered by all perils that are not named as exclusions. An HO-3 policy on the other hand only protects your personal property against a certain list of perils.
The majority of these policies also offer replacement value as standard coverage on personal property compared to fair market value which takes deprecation into account when calculating the value of your damaged or destroyed property.
Compare Homeowners Insurance Rates in Birmingham, OH!
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Average Rates Nearby Birmingham
Are you looking for homeowners insurance in a city near Birmingham? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Birmingham, OH
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Birmingham.
Birmingham, OH Home Insurance Average Premiums
$378 /yr.
For the city of Birmingham, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $378 /yr. |
| Average Coverage: | $628 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $928 /yr. |
What is the average home insurance cost for a home in Birmingham, OH?
- • The average homeowners insurance premium paid annually for a home in Birmingham is around $628 per year.
What does it cost on average per month for home insurance in Birmingham, OH?
- • Homeowners in Birmingham pay an average cost per month around $52.00 for insurance coverage.
Birmingham, OH Coastal Wind, Hail & Flood Information
Birmingham is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Birmingham is know for it's beautiful beaches and waterways. Because Erie County (FIPS: 39043) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Birmingham, OH.
Birmingham, OH - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $0 | $0 |
| February | $0 | $0 |
| March | $0 | $0 |
| April | $0 | $0 |
Homeowners insurance will help cover the cost to repair or replace your Birmingham home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Birmingham
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Birmingham, OH homeowners insurance rates all in one place! |
Saving Money Tips on Birmingham Home Insurance
A great way to save money on Birmingham homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Birmingham area? Check out what homeowners are paying on average for Ohio homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 683 ft. | This is the average home elevation in Birmingham, OH | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Birmingham, Ohio. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Birmingham, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Erie County.
Ohio Homeowners Insurance News & Information
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According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]
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How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024
Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm. Understanding the different coverages that are available to homeowners is key to making sure you […]
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Homeowners Shopping Rates Due to Rise in Premiums Posted on Monday 23rd September, 2024
According to the recently released J.D. Power 2024 U.S. Home Insurance Study a nationwide rise in premiums has driven many customers to shop for new policies as their rates are now too high. “’The average shopping rate among home insurance customers has climbed to a record high of 6.8% through the second quarter of 2024, […]
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Where is it cheaper to rent than to buy a home in the United States? Posted on Thursday 5th September, 2024
According to a new study from Clever Real Estate, a St. Louis-based real estate company, monthly rent costs are actually cheaper than a monthly mortgage payment in 48 of the 50 most populous cities in the United States. Their analysis looked at mortgage principals, interest, taxes as well as homeowners insurance and they found that […]
Birmingham, OH Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Birmingham so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Birmingham, OH?
- The average square footage in Birmingham is around 1,396 Sq. Ft. which would cost you around $155,000 to replace the home if you base the home on the price to build per square foot of $111.
Minimum Replacement Cost Total: $155,000
Location: Birmingham, Ohio (Erie County)
Average Building Cost Per Square Foot in Birmingham: $111 (low end)
Average Square Footage in Birmingham: 1,396 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $111 | $155,000 |
| Some Additional Upgrades | $139 | $193,750 |
| Major Home Updates or Advancements | $167 | $232,500 |
The dwelling coverage is calculated by the average cost per square foot ($111) in Birmingham, Ohio times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $346,875 (Media price to build of $139 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.