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Indiana homeowners insurance: what you need to know

On average, home insurance in Indiana costs $1,395 per year or $116 per month.  Unlike car insurance, homeowners policies aren’t governed by state legislation. That said, major differences exist in homeowners insurance costs on a state-by-state basis. Policy prices in states may vary based on the total number and value of homeowners claims filed in that particular state, and depend on the value of the belongings and structures covered by the policy.

The easiest way to acquire a cheap homeowners insurance policy in Indiana is to get quotes from as many homeowners insurance companies as you can. Remember: your home insurance rates will vary, depending on your coverage limits.

Get an idea of typical home insurance rates in Indiana by reviewing the below data.

 
Table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by deductible amount
  4. Rates by city
  5. Bundling savings
  6. Frequently asked questions
  7. Natural disaster coverage
 

The cheapest home insurance companies in Indiana

Homeowners insurance rates in Indiana will vary based on the insurance company you choose. Cincinnati Insurance provides the most affordable home insurance in Indiana, at only $932 annually. This compares favorably to the state's average cost of $1,395, providing a $463 price break on average policy costs statewide.

Get a head start on looking for cheap homeowners insurance by reviewing the cheapest Indiana companies, listed below.

 
AFFORDABLE HOME INSURERS IN INDIANA
Insurance CompanyAverage Yearly Rate in Indiana
Cincinnati Insurance$932
Indiana Farm Bureau$1,038
Farmers$1,158
Allstate$1,168
Safeco$1,217

 

Indiana home insurance prices by coverage levels

The amount of homeowners coverage you select has an impact on your insurance premiums. Homeowners in Indiana who carry $100,000 of dwelling coverage pay an average of $711 per year, while those with dwelling coverage of $400,000 pay around $1,716 per year.

 
POPULAR COVERAGE LIMITS IN INDIANA
Coverage LevelAverage Annual Cost
$100,000 Dwelling$711
$200,000 Dwelling$1,038
$250,000 Dwelling$1,213
$400,000 Dwelling$1,716
 

Homeowners insurance deductibles in Indiana

Indiana homeowners have a lot of choices to make when shopping for a homeowners policy, including the amount of their deductible. A deductible is the amount for which a homeowner is responsible before an insurance company steps in to cover costs. Where you set your deductible can be a large factor in how much you pay for insurance.

On the whole, having a lower deductible means that your insurance premiums will be higher. As such, if you want lower insurance rates, aim for a higher deductible. It's worth remembering that your deductible should only be as high as you can reasonably pay if you actually suffer a loss.

The following table reveals the average rates associated with deductibles offered by most home insurers.

 
HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN INDIANA
Deductible TierAverage Annual Homeowners Insurance Rate
$500$1,289
$1,000$1,213
$1,500$1,122
$2,000$1,072
$5,000$872
 

Indiana homeowners insurance costs by city

Home insurance rates in Indiana vary depending on the city. Rates are determined based on on city-specific variables like the number of claims filed nearby, meaning your ZIP code could have a major impact on how much you pay.

The best home insurance rates in Indiana are in Elkhart. The average home insurance policy in Elkhart costs $1,186 every 12 months — $209 less than the average policy in other Indiana cities. The below table shows the best places to live in Indiana if you’re looking for cheap homeowners insurance.

 
CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN INDIANA
CityAverage 12-Month Home Insurance Rate
Elkhart$1,186
Fort Wayne$1,195
Lafayette$1,200
Mishawaka$1,233
Kokomo$1,268

 

Looking for data on homeowners insurance in a specific city? Check out our analysis of the most populous Indiana cities:

  1. Fort Wayne
  2. Indianapolis

 

Home and auto insurance bundling in Indiana

If you want to save on insurance, consider keeping your car and homeowners policies with the same insurance company. Bundling auto and homeowners insurance in Indiana can save you a substantial sum each month on your auto insurance bill. Bundling home and auto policies in Indiana could lead to annual savings of up to $147.

 
HOME AND AUTO BUNDLING DISCOUNTS IN INDIANA

Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)

$1,136$989$14715%

 


 

Indiana homeowners insurance FAQs

 

Will homeowners insurance cover a pitbull in Indiana?

This varies by company. Some will not insure your dog purely because of the risk they associate with its breed. Others will limit your liability coverage.

Is home insurance required in Indiana?

While state laws will not require home insurance, your mortgage or lender will require you to insure your home.

 


 

Natural disaster coverage in Indiana

 

Does homeowners insurance cover flooding in Indiana?

Regardless of cause, flood damage is not covered by homeowners insurance policies. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 for your home’s structure
  • $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

Find an affordable homeowners policy in Indiana today!

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.

  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.