Ohio drivers are grappling with historic auto insurance rate increases after carriers posted hikes that are the steepest seen in the state in at least a decade.
Data from the Ohio Department of Insurance has shown that several of the state’s major carriers increased their rates by more than 10% in 2022, with some imposing hikes approaching 20%.
GEICO, which holds the fourth-largest share of Ohio’s auto insurance market, raised rates by 19.5% last year. American Family Insurance followed closely with a 17.5% increase, while rates for Columbus-based Nationwide surged by 17.4%.
