Find the Best Homeowners Insurance Rates and Companies in Indiana
The average cost of homeowners insurance in Indiana is $1,225 per year for a policy with $250,000 in dwelling coverage. Compared to most other states in the country, residents in Indiana save a bit of money on their coverage. Having adequate home insurance can help protect you against losses related to many different disasters, including fire damage, vandalism, theft, and more.
Fortunately, an Indiana independent insurance agent can help you get set up with all the home insurance you need. They'll get you matched to the right policy fast. But first, here's an overview of home insurance in Indiana.
Best Homeowners Insurance Companies in Indiana
Many insurance companies in Indiana sell homeowners insurance. However, a few companies stand out in terms of quality and coverage options. We've put together a list of the best homeowners insurance companies in Indiana for you to start with.
- Auto-Owners: Auto-Owners is a great choice for Indiana homeowners who want the option to customize their coverage. That's because this carrier offers several add-on options and endorsements like ordinance or law coverage, home cyber protection, and equipment breakdown coverage. Auto-Owners also offers many discount options on home insurance. You can get a policy for an average of $1,855 per year from Auto-Owners.
- Nationwide: Nationwide offers affordable rates for home insurance in Indiana. You can get a policy for an average of $1,259 per year. Nationwide also offers many discount options. In addition, you can choose from several endorsement options and add-ons when you get home insurance through Nationwide.
- Erie: Erie is the cheapest home insurance company in Indiana. You can get a policy for an average of just $1,026 per year from Erie. The carrier also offers many coverage options to choose from, like service line protection, identity theft coverage, and guaranteed replacement cost coverage. Further, Erie is rated above average for customer satisfaction by J.D. Power.
An Indiana independent insurance agent can help you find the right home insurance policy from one of these top-rated carriers.
What Homeowners Insurance in Indiana Can Cover
The most common natural disasters in Indiana are thunderstorms, severe winter storms, flooding, and tornadoes. For a couple of these disasters, a basic home insurance policy won't be sufficient to cover all potential damage. While certain types of natural disaster damage are included in standard Indiana home insurance policies, some are specifically excluded. It's important to understand the differences.
Thunderstorms
Home insurance in Indiana covers wind and lightning damage caused by thunderstorms. It also covers fire damage that results from lightning strikes. However, it doesn't cover flooding damage that can accompany heavy rainfall. Wind, lightning, and fire coverage come standard in Indiana home insurance.
Severe Winter Storms
Home insurance in Indiana covers damage caused by snow and ice, including roof collapses. However, it doesn't cover flooding that may be due to melting snow and ice. But protection against snow and ice damage is included in standard Indiana home insurance.
Flooding
Home insurance in Indiana excludes coverage caused by natural sources of flooding such as rainfall, tsunamis, hurricanes, and melting snow. This coverage is never included in a home insurance policy. Instead, you must buy a separate flood insurance policy to cover your home and personal property.
Tornadoes
Home insurance in Indiana provides coverage for wind damage caused by tornadoes. Wind coverage comes standard in Indiana home insurance policies. This is highly beneficial for Indiana residents, considering tornadoes are one of the state's most common natural disasters.
What Homeowners Insurance in Indiana Won't Cover
Indiana homeowners insurance excludes coverage for certain natural disasters. Earthquakes are not covered by Indiana home insurance. Neither are natural flooding disasters. You'd need a separate earthquake insurance and flood insurance policy to protect your home and personal property against these natural disasters. An Indiana independent insurance agent can help you add these coverages to your policy if needed. Due to Indiana's location, earthquake insurance is unlikely to be necessary, but you may want flood insurance due to the state's tendency to get heavy rainfall and snowfall.
Flood Damage in Indiana
Flooding in Indiana can result from melted snow and ice and heavy rain during thunderstorms. But your home can also flood due to sewer issues, such as line breaks or backups. To protect your home against these kinds of flooding incidents, you'd need to add an endorsement to your home insurance policy, known as sewer backup coverage. Your Indiana independent insurance agent can help you add this coverage.
Average Cost of Homeowners Insurance in Indiana
The average cost of home insurance in Indiana is $1,225 per year, or about $102 per month. Indiana's home insurance rates are slightly lower than the current national average of $1,428 per year. Lower rates may be due to several factors, including property values in Indiana, lower crime rates, less risk of natural disasters than in other areas of the country, and more. Because Indiana is inland and not located along a coast, its risk of flooding incidents and hurricanes is much less than for many other states. This can greatly help to reduce the cost of many types of coverage, including home insurance.
Average Indiana Home Insurance Costs by City
The cost of home insurance in Indiana varies by city. Rates can differ depending on the city where you live due to many factors, including local property values and crime rates. The cheapest home insurance in Indiana is currently found in Muncie, with an annual average premium of just $702. Here are some of the most affordable Indiana cities for home insurance.
How does your city measure up to the national average?
National average burglary rate 3.76 per 1,000 people
National average home value $269,000
National average home insurance cost $1,428 year
| City | Annual insurance cost | Avg. home value | Burglaries / 1,000 homes |
| Anderson | $711 | $72,233 | 9.01 |
| Bloomington | $1,307 | $185,900 | 5.86 |
| Carmel | $1,451 | $315,200 | 2.21 |
| Columbus | $1,099 | $156,618 | 4.42 |
| Elkhart | $809 | $88,229 | 9.24 |
| Evansville | $962 | $92,800 | 9.03 |
| Fishers | $1,390 | $260,800 | 0.54 |
| Fort Wayne | $829 | $108,400 | 6.86 |
| Goshen | $789 | $115,059 | 7.42 |
| Greenwood | $1,049 | $143,543 | 3.17 |
| Hammond | $716 | $87,000 | 6.75 |
| Indianapolis | $1,125 | $128,200 | 12.84 |
| Kokomo | $948 | $92,750 | 8.8 |
| Lafayette | $789 | $112,800 | 8.96 |
| Lawrence | $1,050 | $138,096 | 5.38 |
| Merrillville | $988 | $136,923 | 5.12 |
| Michigan City | $922 | $90,565 | 6.73 |
| Mishawaka | $944 | $99,955 | 5.09 |
| Muncie | $702 | $71,900 | 6.96 |
| New Albany | $825 | $115,107 | 8.67 |
| Noblesville | $1,004 | $188,382 | 2.53 |
| Portage | $1,065 | $143,354 | 2.69 |
| Richmond | $817 | $85,721 | 16.46 |
| Schererville | $1,201 | $223,547 | 1.89 |
| South Bend | $738 | $77,400 | 12.11 |
| Terre Haute | $788 | $82,781 | 11.44 |
| Valparaiso | $1,137 | $179,719 | 1.7 |
| West Lafayette | $1,183 | $208,074 | 1.41 |
| Westfield | $1,211 | $239,855 | 5.92 |
Indiana Home Insurance FAQs
In Indiana, the average cost of homeowners insurance is $1,225 per year, which is below the national average of $1,428 annually. Your rates may be higher or lower depending on the value of your home, which town you live in, and other factors.
You're not required to carry home insurance by state law in Indiana. However, if you have a mortgage, your lender may require you to have coverage.
We found that Auto-Owners, Nationwide, and Erie are the best home insurance companies in Indiana. We chose these carriers based on coverage options, average rates, customer service reviews, financial strength ratings, and more.
Many factors go into calculating the cost of your Indiana home insurance. These include the value of your property, your personal claims history, how much coverage you need, how many discounts you qualify for, and more.
Yes, Indiana has hundreds of independent insurance agents who can help you find home insurance. These agents can shop and compare policies for you to find the best available rate.
Indiana home insurance includes dwelling coverage, personal property coverage, loss of use coverage, and liability coverage as standard protections. You can customize your policy to include more coverage as needed. Available discounts differ by insurer, but you can often find bundling discounts, claims-free discounts, paperless statement discounts, and more.
An Indiana independent insurance agent can help you easily find the coverage you need. These agents can shop and compare policies from many local carriers. Further, they can also help file claims and update your coverage down the road.
Do You Know What Your Indiana Home Insurance Covers?
Average Cost of Home Insurance Near You
The average monthly cost of home insurance in Bloomington is $109. Your actual home insurance premium could be higher or lower, depending on variables like the crime rate in your ZIP code, the size and age of your home, your credit score, and the amount of coverage you wish to purchase.
The average monthly cost of home insurance in Carmel is $121. Homeowners in Carmel pay some of the highest home insurance rates in the state. Given the high property values in this city, that may not be surprising. Also, the more property you need to protect, the higher your coverage limit needs. Your actual policy costs will depend on factors like the age and square footage of your home. Therefore, your premium might be considerably higher or lower than this average.
The average monthly cost of home insurance in Evansville is $80. The lower-than-average home values in Evansville affect how average rates are calculated. Your actual home insurance premium could be considerably higher or lower, depending on several factors, like the crime rate in your ZIP code, the size and age of your home, your credit score, and the age of your roof.
The average monthly cost of homeowners insurance in Fishers is $116. Though crime rates are low in Fishers, property values are high, and this creates higher coverage limits. Your actual home insurance premiums could be higher or lower than this average, because the cost is calculated according to several factors, including the age and value of your home and your credit score.
The average monthly cost of home insurance in Fort Wayne is $69. Home insurance prices will vary from one property to the next, but in Fort Wayne, where the average home price is relatively low, rates should be affordable. Factors like your home's size, age, and location, and your credit and claims history, can all play a role in how much you are expected to pay.
The average monthly cost of home insurance in Hammond is $60. Residents of Hammond pay some of the lowest home insurance rates in the state. This could be due, in part, to the lower-than-average property values and relatively low crime rates in this city. Your actual premiums may be higher or lower than this average, though. Your rate depends on factors such as the age and location of your home, your credit score, previous claims, and the amount of coverage you purchase.
The average monthly cost of homeowners insurance in Indianapolis is $94. Several considerations can impact your personalized rate for home insurance. The crime rate in your ZIP code, the size and age of your home, and even your credit score are just some of the factors that help determine how much you pay for your home insurance coverage. Your actual rate may therefore be considerably higher or lower than the area's average.
The average monthly cost of home insurance in Lafayette is $66. Premiums in Lafayette tend to be more affordable than in other parts of the state, thanks to lower crime rates. However, your cost could be slightly higher or lower, depending on the size and age of your home, previous claims, and your credit score, among other factors.
The average monthly cost for home insurance in Muncie is $59. But you can expect your actual rates to be considerably higher or lower than this amount depending on factors like the age of your house, your credit score, previous claims, and the amount of coverage you purchase. Because home values in this city are lower than the state average, homeowners tend to have lower coverage limits, making the rates for coverage in this city low as well.
The average monthly cost of home insurance in South Bend is $62. These are some of the lowest rates in the state, mainly because of the lower-than-average values of homes in the area. Your actual premium might be considerably higher or lower than the average. Your rate depends on factors like your home's age and building materials, the crime rate in your ZIP code, and the amount of coverage you wish to purchase, among other factors.
https://www.thezebra.com/homeowners-insurance/indiana-home-insurance/#disaster
https://www.bankrate.com/insurance/homeowners-insurance/indiana/#compare-the-best-home-insurance-companies-in-indiana
https://protect.iu.edu/emergency-continuity/emergency-situations/natural-hazards/index.html