Indiana homeowners insurance: how to find the best rates

 

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. 

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. Get an idea of average home insurance rates in Indiana by reviewing the below data. Remember: your home insurance rates will vary, depending on your coverage limits.

 
Home insurance in Indiana — table of contents:
  1. Homeowners rates by company
  2. Homeowners rates by city
  3. Rates by coverage level
  4. Rates by deductible amount
  5. Bundling home and auto insurance
  6. FAQs
 

5 cheap companies for home insurance 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.

 
HOME INSURANCE RATES IN INDIANA: BY CARRIER
CarrierAverage 12-Month Rate in Indiana
Cincinnati Insurance$932
Indiana Farm Bureau$1,038
Farmers$1,158
Allstate$1,168
Safeco$1,217
 

Cheapest Indiana cities for homeowners insurance

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 HOME INSURANCE CITIES IN INDIANA
CityAverage Annual 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

Average homeowners insurance rates in Indiana 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.

 
HOMEOWNERS INSURANCE RATES IN INDIANA — COMMON COVERAGE LIMITS
Coverage LevelAverage Annual Premium
$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 RATES BY DEDUCTIBLE TIER IN INDIANA
Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,289
$1,000$1,213
$1,500$1,122
$2,000$1,072
$5,000$872
 

How to bundle home and auto insurance 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 INSURANCE BUNDLING SAVINGS IN INDIANA

Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)

$1,136$989$14715%
 

A great way to save is to bundle your home and auto insurance policies. Find a policy today!

 

Indiana homeowners insurance FAQs

 

Does GEICO offer home insurance in Indiana?

GEICO currently offers home insurance in Indiana through a subsidiary.

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.

Find the perfect policy today by comparing rates online.

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Ross Martin
Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to insurance. He has a background in writing and education, as well as a master's degree from Royal Holloway, University of London. He has been quoted by CNET, iDriveSafely.com and Kin Insurance.

About The Zebra

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