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In many areas of the country, insurance rates are prone to hikes after particularly destructive winters or the occurrence of natural disasters. However, some regions benefit from decreases in property insurance rates when weather is smooth sailing over a period of time.

One such situation is the State of Ohio, where the Columbus Dispatch writes that rates among major insurance providers rose by 4.3 percent in 2014. This marks the lowest rate increase since 2007, credited mostly to the lack of serious statewide emergencies over the last couple of years. 

"But there have been fewer major catastrophes in the recent past. Insurers paid out $1.3 billion in homeowner claims in Ohio in each of the past two years, according to the Ohio Insurance Institute. That's also the lowest since 2007 but still well above 2004 and '05 levels."

Nevertheless, homeowners insurance is important precaution that property owners take to secure their homes. Whatever the state of the regional insurance economy, it's important for homeowners to update their valuations on an annual basis or as significant changes or upgrades are made to the property. This ensures that when incidental damages occur or broader natural catastrophes strike, policies reflect the most current and accurate valuation of homes. 

As the leading provider of web-based property valuation solutions, e2Value can assist you with all of your Insurance-to-Value (ITV) and collateral value monitoring needs. Whether you are looking for valuations for high-value homes, mainstreet homes, condos, co-ops, commercial properties, manufactured homes, log cabins, or farms and ranches, our patented estimator can quickly calculate the cost of replacing a residential, commercial or farm structure, and provide you with a fast, cost-effective and accurate replacement cost valuation.