The Best Cheap Homeowners Insurance in Fort Wayne, Indiana for 2022: Quotes and Reviews
In Fort Wayne, Indiana, homeowners insurance costs an average of $823 a year, or about $69 per month. However, the rates vary significantly between insurance companies. For example, nationwide offers the cheapest homeowners insurance in Fort Wayne at $617 per year, while Auto-Owners Insurance Co provides the most expensive plan at about $1,218 per year. This difference suggests that if you choose the cheapest insurance plan over the most expensive one, you will save around $601 every year. MoneyGeek compared the finest homeowners insurance companies in Fort Wayne to help you choose the most affordable and best-quality coverage.
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The Cheapest and Best Homeowners Insurance in Fort Wayne
The Cheapest Home Insurance Companies in Fort Wayne
The majority of Fort Wayne's insurance companies offer identical core coverages for home insurance policies. Therefore, the cost is an important aspect to consider when selecting a home insurance plan.
The following two companies offer the cheapest home insurance in Fort Wayne based on a policy that provides $100,000 in basic dwelling coverage:
- Nationwide: $617 per year
- Erie: $637 per year
And the cheapest insurance providers for luxury homes covered by a $2 million dwelling coverage are:
- Allstate: $4,253 per year
- USAA: $5,304 per year (only serving current and former military members and families)
Understand that the cost of your home insurance policy is determined by the level of coverage you choose. Check out the table below to see how changing the dwelling coverage changes your insurance rates in Fort Wayne.
The Cheapest Home Insurance in Fort Wayne, Ranked
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MoneyGeek's sample home insurance plans for Fort Wayne have $100,000 in initial baseline dwelling coverage and $40,000 in personal property limits. For policies with $2,000,000 in dwelling coverage, the personal property limits increase to $800,000. Regardless, the liability coverage remains $100,000 for all plans. So even if you live in another part of Indiana, you can compare home insurance quotes across the state with different companies.
The Average Cost of Homeowners Insurance in Fort Wayne for 2021
The average annual home insurance cost in Fort Wayne costs about $823 a year, or about $69 per month. This is less than California's average homeowner’s insurance cost of $954 per year and much cheaper than the national average of $2,103 per year.
Calculate the Cost of Home Insurance in Fort Wayne
While your location in Fort Wayne influences the cost of your home insurance policy, several other factors, such as your credit score, the level of dwelling coverage and personal property coverage you buy, will also have an impact. MoneyGeek's home insurance calculator will be a helpful tool to compare quotes from different homeowners insurers in your state.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Fort Wayne
Although you must prioritize cost while shopping for homeowners insurance in Fort Wayne, you should also evaluate the companies you’re considering their customer service experience and their financial stability, so do your research! You'll most likely file a claim while you're in financial distress. And a financially stable company will be able to process your claim quickly and fairly, as long as it is legitimate.
The following companies offer the best homeowners insurance in Fort Wayne, according to a MoneyGeek analysis:
- Best Overall: USAA (only serving current and former military members and families)
- Runner-up: Nationwide
MoneyGeek rated the companies based on their affordability, customer satisfaction and financial stability ratings.
USAA offers discounted rates to policyholders who safeguard their homes by installing home security systems and remaining claim-free for several years. The company also covers the loss of military uniform if it happened due to a covered peril without applying the deductible.
MoneyGeek's top pick, USAA, scored 95.2 out of 100 points ranking high across categories, particularlyJ.D. Power's customer service. However, the company only sells insurance to current and retired military personnel and their families.Read MoneyGeek's USAA home Insurance Review
Flood damage is not covered by standard home insurance policies, but Nationwide's add-on flood insurance coverage can cover the costs associated with flood-related damages. It also provides water backup coverage, allowing you to cover the damages caused by all water-related perils.
Nationwide is MoneyGeek's second-best, scoring 94.2 out of 100 points and ranking high on MoneyGeek's affordability index. The company's identity theft coverage helps its policyholders cover the costs of keeping their data secure.Read MoneyGeek's Nationwide home Insurance Review
Cheapest Home Insurance Companies in Fort Wayne for Newly Constructed Homes
In Fort Wayne, insurance for newly built homes is significantly cheaper than that for older homes. Since newer homes are made with the most modern materials, they will be more resistant to damage. As a result, new homes are offered lower insurance rates as they are less likely to file claims. Furthermore, it is easier for companies to replace modern materials used in houses.
It costs an average of $574 per year to insure a newly built home in Fort Wayne, compared to around $823 per year to insure a house built in 2000.
The two cheapest homeowners insurance providers in Fort Wayne that provide $100,000 in dwelling coverage for newly constructed homes are:
- Nationwide: $317 per year
- Erie: $431 per year
The Cheapest Home Insurance in Fort Wayne for New Homes, Ranked
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Cheapest Home Insurance Companies in Fort Wayne if You Have a Lot of Personal Property
Your homeowner’s insurance policy will protect both the structure of your home and the personal belongings you choose to insure. Choosing to insure more personal property will cost you a higher insurance premium. On average, a standard home insurance policy with personal property limits of $250,000 will cost Fort Wayne homeowners $888 per year. And for a $100,000 personal property coverage limit, you'll have to pay around $823 per year on average.
The two cheapest home insurance providers in Fort Wayne for homes with a $100,000 dwelling coverage and high personal property limits are:
- Nationwide: $671 per year
- Allstate: $735 per year
Cheap Companies in Fort Wayne for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Fort Wayne for High Deductibles
The deductible on your homeowner’s insurance policy is the amount of money you must pay out of pocket while making a claim. The policy deductible you decide for your home insurance also affects your homeowner’s insurance premium. Therefore, the premiums will be lower for a policy with a higher deductible and vice versa.
In Fort Wayne, a home insurance policy with a $2,000 deductible costs $735 on average, while a policy with a $1,000 deductible costs $823, which is a difference of $88.
The following two companies provide the cheapest homeowners insurance in Fort Wayne for homes with a $2,000 deductible:
- Nationwide: $537 per year
- Erie: $578 per year
The Cheapest Companies in Fort Wayne for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Fort Wayne if You Have Poor Credit
To provide you with a more precise home insurance quote in Fort Wayne, insurance companies will ask for your credit score. Most insurers consider that a person with a low credit score is more likely to file a claim. And they quote higher insurance rates for homeowners with a bad credit score.
If you have a bad credit score, a standard home insurance policy in Fort Wayne will cost you an average of $1,510 per year. And those with a good credit score pay an average of $823 per year for the same policy, which is $687 less per year.
The cheapest insurance companies in Fort Wayne for those with poor credit are:
- Nationwide: $972 per year
- Auto-Owners Insurance Co: $1,218 per year
The Cheapest Companies in Fort Wayne for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Fort Wayne
While trying to get home insurance quotes online in Fort Wayne, the insurance company will require a lot of information, particularly those listed below:
- Home replacement cost: This is the estimated cost of restoring your home to its original condition if it is damaged due to a covered peril. Home replacement cost also determines the dwelling coverage for your home insurance. You can obtain an estimate by hiring a construction professional, an appraiser or a building contractor.
- Personal property value: The personal property coverage limit in your home insurance policy is determined by the approximate value of the personal possessions you choose to insure.
- Personal information: Insurers also consider personal information, such as your home address, insurance claim history and the number of people in your household, to evaluate your home insurance quote.
- Details about your home: Insurers consider information about your home, such as your home's age, size and built-in safety features, to provide you with a more precise quote.
Homeowners Insurance in Fort Wayne Analysis: Methodology
MoneyGeek conducted this analysis by comparing home insurance quotes from nine Fort Wayne insurance companies using the data from Quadrant. For the affordability scores, we considered various levels of home insurance coverage. And, customer satisfaction ratings for each company were calculated using J.D. Power surveys.
The base profile for this study is that of an average homeowner with a 2,500 square-foot home built in 2000. The home insurance policy provides $100,000 in dwelling coverage, $40,000 in personal property coverage and $100,000 in liability coverage. Regardless, each policy comes with a $1,000 deductible.
We obtained rates for various scenarios using profiles of homeowners with newly built homes, higher deductibles, poor credit scores and increased dwelling or personal property coverage.
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