Expertise.com

The Best Homeowners Insurance in Indiana [2023]

IN-HERO-IMG

Find a top-ranked Homeowners Insurance Agency in your area

With tons of national attractions, accessibility to beautiful landscapes, and the famous Indianapolis 500, there’s no shortage of things to do and see in Indiana. On top of that, the cost of living is below the national average, making the Hoosier State a desirable place for young families to settle down and tourists to visit. 

It is worth noting that Indiana has undoubtedly seen the effects of climate change, with extreme heat and flash flooding dominating much of the area. If you own a home or are thinking of buying in Indiana, it’s important to compare homeowners insurance rates and find the coverage that works best for you. 

We at Expertise.com have analyzed a handful of home insurance companies. We’ll uncover everything to know about homeowners insurance in Indiana, and help you find the most comprehensive, cheapest coverage to suit your needs.

Average Cost of Homeowners Insurance in Indiana

The average cost of homeowners insurance in Indiana is $2,608 per year according to Insurance.com. This is for $300,000 dwelling coverage and $300,000 in liability with a $1,000 deductible.

The cost of homeowners insurance in Indiana can differ vastly based on a few key factors:

  • The age of your home: Is your Indiana home an older home that is at risk of more structural wear and tear?

  • The square footage of your home: How big is your home? In general, larger homes will cost more to insure.

  • The materials used to build your home: Was your Indiana home built using materials prone to things like rotting or structural damage?

  • Building costs in your area: Because insurance deals with repairs and replacement, coverage increases with increased building costs.

  • The location in which you live: What are crime rates like? How close are you to a fire department? How close are you to water or a flood zone?

  • Any additional features: Does your house have a swimming pool or hot tub that could pose a potential risk to guests? Do you have pets, and if so, what are their breeds? Surprisingly, insurers will look at these things when assessing prices.

Your deductible: A higher deductible will decrease your premium, but could cost you more if you file a claim. Talk to your insurance provider about diminishing deductibles to get the best plan that suits your payment needs.

Indiana Homeowners Insurance Rates by City

It’s no surprise that homeowners insurance rates and policies can vary greatly depending on where you live in the state.

Below is a breakdown of the average annual rate by some of the more popular Indiana cities:

City

Average Annual Rate

Gary

Indianapolis

Fort Wayne

Carmel

Fishers

Evansville

The Best Homeowners Insurance in Indiana

After extensive research, we at Expertise.com found the following insurance agencies to provide the best, comprehensive home insurance coverage in Indiana:

Cincinnati Financial

Cincinnati Financial


Average Annual Rate: ~ $600

Notes: Most affordable option; tons of options to customize coverage

Nationwide logo

Nationwide


Average Annual Rate: ~ $700

Notes: Another affordable option; reliable coverage

Allstate logo

Allstate


Average Annual Rate: ~ $800

Notes: Good for bundling; offers unique and affordable coverage options

Erie Insurance logo

Erie


Average Annual Rate: ~ $800

Notes: Offers 100% guaranteed replacement cost

State Farm logo

State Farm


Average Annual Rate: ~ $900

Notes: A good option for expensive, high-value homes

Farmers logo

Farmers


Average Annual Rate: ~ $1,00

Notes: Great bundling options

Auto-Owners Insurance

Auto-Owners


Average Annual Rate: ~ $1,700

Notes: Exceptional customer experience and service; great add-on coverage options

Indiana Farm Bureau

Indiana Farm Bureau


Average Annual Rate: ~ $1,700

Notes: Must join a membership-based program which grants personalized customer service along

Cheapest Homeowners Insurance in Indiana

The cheapest homeowners insurance coverage in Indiana is Cincinnati Financial.

It’s important to remember that prices vary depending on each person’s unique scenario, but if cost is the most important variable for you, check Cincinnati Financial’s coverage options and exclusions first.

Searching on phone

Find Cheap Homeowners Insurance in Your Area

FAQs

Below, we tackle some common questions to help you make a more informed decision about which homeowners insurance to choose in Indiana specifically. 

How to Reduce Homeowners Insurance Costs in Indiana

As we’ve pointed out, the price you pay for homeowners insurance can vary substantially across insurers. 

Here are a few ways to reduce costs:

  • Increase your deductible. This will help reduce monthly costs to your insurer, but it may mean paying more out of pocket should you need to make a claim. Similarly, paying your 6-month or 1-year premium in full will drive down monthly costs.

  • Bundle policies. Bundling your home and auto insurance can help you save 5–15% on your premiums. Talk to your insurance provider about home and car insurance bundling options and how that helps you save.

  • Take the necessary steps to make your home disaster-resistant. Some examples include:

    • Install a smoke detector and/or fire alarm.

    • Get a burglar alarm and/or dead-bolt locks.

    • Install a sprinkler system.

  • Nix the high-risk accessories. Similar to the above point, rid your home of things that are considered “high risk.” For example, did the kids go off to college? Time to throw out that trampoline that’s sitting in the backyard.

  • Seek out other discounts. Some things to look into:

    • Do you work from home? Insurance providers may feel you’re less prone to theft or may spot a fire or flood sooner.

    • Are you retired? You may qualify for a discount. 

    • Does your employer offer a group deal?

    • Even something as simple as choosing paperless billing can help you save!

  • Keep good credit. Some agencies will look at your credit history and charge less for those with good financial strength and standings.

As always, consult your insurance agent to see which of the above discounts you qualify for.

Indiana Insurance Options in Your City

At Expertise.com, our goal is to connect Indiana residents with the best local experts and agencies, so you can find the home insurance policy that safely insures your home and most prized possessions. 

View our list of the 14 best homeowners insurance agencies here

Learn more about the best homeowners insurance options in your respective Indiana cities below:

Our methodology evaluates each provider based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.