Indianapolis Homeowners Insurance

The Zebra
Aug. 26, 2019

How to find cheap homeowners insurance in Indianapolis


Homeowners insurance is a critical element of homeownership. Along with your home furnishings and other belongings, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. With the relative frequency of such incidents -- and the high cost of rebuilding or repairing a home -- purchasing home insurance is a sound investment.

The price of a homeowners insurance policy depends on many factors. This can include the overall value of your house, the value of your personal belongings, and the materials that were used when building your home. Your home's location can also impact how much you pay, as some locations are more prone to destructive hazards. If your area is at risk of being affected by hail, strong winds, fire, frozen pipes, or volcanic activity, then your premiums could be substantially higher than average. Discover more info about the specifics of home insurance coverage.

If you want to find cheap home insurance coverage in Indianapolis, start with looking around and comparing different policies. Check out the below summary of average Indianapolis homeowners insurance rates to ensure you start your search with as much background info as possible. Remember: your homeowners insurance premiums may vary based on your coverage limits and other factors.


Indianapolis, Indiana, homeowners insurance:
  1. Rates by company
  2. Rates by coverage level
  3. Rates by ZIP code
  4. Insurance bundle discounts

Homeowners insurance in Indianapolis by insurance company

Indianapolis homeowners insurance rates will vary depending on which insurance company you choose. Hastings Mutual offers the most affordable home insurance in Indianapolis, at just $1,228 per year. This compares favorably to the city’s average homeowners premium of $1,502.

Below you'll find a list of the cheapest homeowners insurance companies in Indianapolis, Indiana to help you start your search.


AFFORDABLE HOME INSURANCE COMPANIES IN INDIANAPOLIS
CompanyAverage Annual Rate
Hastings Mutual$1,228
Allstate$1,261
Farmers$1,275
Liberty$1,349
State Farm$1,400

Average homeowners insurance costs in Indianapolis by coverage level

Your chosen level of homeowners coverage has an impact on the insurance premiums you pay . In Indianapolis, carrying $200K dwelling coverage costs an average of $1,211, while carrying additional coverage up to $400K costs $1,981 per year.


HOMEOWNERS INSURANCE RATES IN INDIANAPOLIS — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$200K Dwelling$1,211
$400K Dwelling$1,981

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Indianapolis home insurance rates by ZIP code

Home insurance premiums can vary depending on what part of Indianapolis in which you live. The amount of claims filed in your local area can be a factor in determining the price of your policy. Put simply, the location of your home could have a huge impact in what you pay for home insurance.

If you're looking for the most affordable homeowners insurance premiums in Indianapolis, take at look at the 46280 ZIP code. In the 46280 area, homeowners coverage usually costs just $1,346 on average, which isa full $156 less than the overall average for Indianapolis. Find the best places to live in Indianapolis for cheap home insurance by looking at the table below.


AFFORDABLE ZIP CODES FOR HOMEOWNERS INSURANCE IN INDIANAPOLIS
ZIP CodeAverage Annual Home Insurance Rate
46280$1,346
46290$1,349
46256$1,419

On the other hand, some areas of Indianapolis face higher homeowners insurance costs, on average. These areas could be more prone to perils such as theft, severe weather, or fires that present more risk for insurance companies. With an annual average premium of $1,596, 46201 comes in as the priciest ZIP code in Indianapolis for homeowners coverage.


EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN INDIANAPOLIS
ZIP CodeAverage Annual Home Insurance Rate
46201$1,596
46218$1,591
46222$1,571



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Money-saving tip: bundle home and auto insurance in Indianapolis

One way to save on insurance costs is to think about bundling your homeowners and auto insurance policies through the same company. Bundling homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. By bundling your policies, Indianapolis homeowners could see annual savings of 15% on average.


CHEAPEST AUTO INSURANCE RATES WITH HOME BUNDLE IN INDIANAPOLIS
CompanyAvg. Annual Auto Insurance Rate (Bundle)
Erie$692
GEICO$810
State Farm$812
American Family$927
Progressive$1,107

A great way to save on insurance is to bundle your home and auto policies with the same insurance company. To speak with an insurance professional, call 855-493-9728 today.


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