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The 5 Best Homeowners Insurance Companies in Indiana

Finding the best homeowners insurance for your Indiana property requires you to consider various factors. You have to compare personalized quotes and evaluate each insurance provider to find the one that can offer you the most appropriate policy. Aside from the price of policies, you also need to look at coverage options, the company’s ability to pay claims and their customer service ratings.

Using affordability, J.D. Power customer satisfaction scores and AM Best’s financial stability ratings, MoneyGeek ranked the top five homeowners insurance providers in Indiana.


1

USAAScore: 96

4.6/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability


USAA ranks high in terms of affordability. If you are a military member or have a spouse or parent who is one, you can get cheap homeowners insurance in Indiana with this company. USAA policyholders in the state can even bundle coverage options to qualify for specific discounts. Additionally, the insurer has a mobile app where you can complete most transactions.

2

NationwideScore: 94

5/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability


Nationwide provides their policyholders with the freedom to build a homeowners insurance suitable to the policyholders’ specific needs. Aside from the standard policy, customers can add optional coverages like replacement cost plus, equipment breakdown, roof replacement, earthquake, and identity theft or fraud insurance. The insurance provider also offers various discounts. Accessing services is also easy with the help of the rate calculator, online bills payment and the Nationwide mobile app.

Read MoneyGeek's Nationwide Home Insurance Review

3

AllstateScore: 92

4.9/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability


One of the advantages of having an Allstate policy is the accessibility of various services. Allstate customers can utilize a rate calculator, household inventory tool and mobile app. They can also choose to pay bills or make claims online. Additionally, Allstate policyholders can prevent rate hikes caused by claims by including the Rate Guard feature in their policies. With the Claims-Free Rewards program, customers can earn a percentage of their premium if they make any claims during an annual policy. Adding additional coverage to a standard policy is also available.

Read MoneyGeek's Allstate Home Insurance Review

4

ErieScore: 91

4.7/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability


Erie provides extensive coverage options for all homes, including apartments, traditional houses, manufactured homes and condos. They also offer a policy covering personal property like jewelry and other valuables and living expenses in case you need to relocate temporarily. Erie also offers online bills payment and claim application. Their mobile app allows you to access various services anywhere.

Read MoneyGeek's Erie Home Insurance Review

5

TravelersScore: 90

4.7/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability


Travelers policyholders can include optional coverages in a standard homeowners insurance plan. Depending on your needs, you can get replacement cost, contents, Valuable Items Plus, personal articles floater, water back-up, identity fraud, and green home options. Travelers also allows you to bundle home insurance with a car insurance policy to save money. You can also pay bills or make claims online, estimate your annual premium using the rate calculator and access various services through a mobile app.

Read MoneyGeek's Travelers Home Insurance Review

What Is the Average Cost of Homeowners Insurance in Indiana?

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home insurance is 0.0% more than the average.

The average cost of homeowners insurance in Indiana is around $954 for a $100,000 dwelling coverage baseline. That figure is $1,149 or 54.6% less than the national average, which is $2,103. Various factors associated with the individual and the area where the property is located help insurers calculate home insurance policies’ costs.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Indiana

When calculating how much your homeowners insurance in Indiana is, insurers will evaluate individualized factors like your credit score, frequency of claims, the deductible chosen and personal property. Additionally, area-related risks also play a role in determining the cost of your annual premium. Insurance carriers may look into your property’s location, proximity to a fire department, welling value, and whether you have a pool.

moneygeek-logo

Home Insurance Calculator

State

Indiana

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Indiana

Affordability is an important factor that many residents look for in homeowners insurance in Indiana. The cheapest homeowners insurance option in the state is Nationwide. A policy with Nationwide may cost an average of $747 per year for baseline dwelling coverage. That is about 21.8% or $208 less than the state average.

Generally, dwelling coverage refers to a homeowner insurance feature covering expenses for physical repairs and rebuilding if your house suffers from damages due to covered hazards like fire, vandalism, explosions, and weather. To get the most appropriate policy for your home, compare homeowners insurance quotes from multiple insurance providers.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$100,000
Company
Amountper year
1. Nationwide
In 2020, Nationwide ranked #1 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Indiana.
$747
2. Allstate
In 2020, Allstate ranked #2 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Indiana.
$798
3. Erie
In 2020, Erie ranked #3 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Indiana.
$855
4. Travelers
In 2020, Travelers ranked #4 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Indiana.
$869
5. USAA
In 2020, USAA ranked #5 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Indiana.
$906

Best Cheap Homeowners Insurance Companies for Expensive Homes

Most cheap homeowners insurance in Indiana cater to the general public. However, it is possible to find a policy for expensive homes. Such plans are just more expensive than coverage for smaller homes.

Homeowners with high-end residential homes worth $2 million that are insured by Allstate pay an average of $4,667. Among all insurance providers in the state, that may be the cheapest option. A similar policy may cost much more. For instance, Auto-Owners Insurance Co has an average annual premium of $36,174. To find the best home insurance in Indiana, you have to compare personalized quotes.

Cheapest Homeowners Insurance Companies for High-Value Homes
Company
Amountper year
1. Allstate
In 2020, Allstate ranked #1 in Indiana for the cheapest homeowners insurance for high-value homes.
$4,667
2. American Family
In 2020, American Family ranked #2 in Indiana for the cheapest homeowners insurance for high-value homes.
$6,094
3. USAA
In 2020, USAA ranked #3 in Indiana for the cheapest homeowners insurance for high-value homes.
$6,290
4. Farmers
In 2020, Farmers ranked #4 in Indiana for the cheapest homeowners insurance for high-value homes.
$6,737
5. Nationwide
In 2020, Nationwide ranked #5 in Indiana for the cheapest homeowners insurance for high-value homes.
$8,335

Best Homeowners Insurance Companies if You Have a Pool

Owning a pool will affect how much your homeowners insurance is in Indiana. For example, Allstate’s average annual premium for a home with a pool that has a dwelling coverage baseline amounting to $100,000 is $1,079. That may be the cheapest option for pool homes in the state. If you want to protect yourself from possible lawsuits, you may include liability coverage for injuries caused by a pool accident.

Cheapest Homeowners Insurance for Pool Home
Company
Amountper year
1. Allstate
In 2020, Allstate ranked #1 in Indiana for the cheapest homeowners insurance for homes with a pool.
$1,079
2. Nationwide
In 2020, Nationwide ranked #2 in Indiana for the cheapest homeowners insurance for homes with a pool.
$1,340
3. Erie
In 2020, Erie ranked #3 in Indiana for the cheapest homeowners insurance for homes with a pool.
$1,401
4. American Family
In 2020, American Family ranked #4 in Indiana for the cheapest homeowners insurance for homes with a pool.
$1,419
5. Travelers
In 2020, Travelers ranked #5 in Indiana for the cheapest homeowners insurance for homes with a pool.
$1,487

Cheapest Home Insurance in Indiana if You Have Poor Credit

Insurance providers look at the reliability of homeowners in terms of finances by checking their credit scores. Generally, having poor credit may lead to higher annual premium rates. So, it is best to keep a good credit score. While improving it may take time, you can start by paying off all your credit card debts. It will also help if you maintain below a 30% utilization rate.

If you happen to have poor credit and are searching for good homeowners insurance in Indiana, consider policies that specifically consider poor credit. The cheapest option may be a policy from Nationwide. Homeowners with poor credit insured by Nationwide pay an average of $1,157 per year for homeowners insurance with a dwelling coverage baseline amounting to $100,000.

Cheapest Homeowners Insurance for Poor Credit
Company
Amountper year
1. Nationwide
In 2020, Nationwide ranked #1 for the cheapest homeowners insurance for owners with poor credit in Indiana.
$1,157
2. Auto-Owners Insurance Co
In 2020, Auto-Owners Insurance Co ranked #2 for the cheapest homeowners insurance for owners with poor credit in Indiana.
$1,464
3. American Family
In 2020, American Family ranked #3 for the cheapest homeowners insurance for owners with poor credit in Indiana.
$1,563
4. Allstate
In 2020, Allstate ranked #4 for the cheapest homeowners insurance for owners with poor credit in Indiana.
$1,597
5. Farmers
In 2020, Farmers ranked #5 for the cheapest homeowners insurance for owners with poor credit in Indiana.
$1,638

How to Get Homeowners Insurance Quotes in Indiana

Before getting an estimate for your home insurance in Indiana, make sure you have gathered relevant information that insurers may need. You may have to disclose basic personal information, such as your name, address and Social Security Number. Other information that may be necessary in calculating your annual premium are the age and type of your house, the materials used in its construction, its current condition and even its estimated cost in case you need to rebuild it. If you own solar energy panels or have a home security system, your annual premium may change.

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Other Considerations for Homeowners Insurance in Indiana

Every area is exposed to various risk factors. You have to be aware of the things that may cause severe damage to your property, such as hazardous weather conditions. You can prepare for emergencies by including the appropriate coverages to your home insurance policy.

Among the risk factors that insurers evaluate to calculate annual premiums is crime rate. Indiana ranked 27th in the country in this aspect. According to the FBI, the state had 25,581 violent crimes and 145,838 property crimes in 2018.

Meanwhile, the average price of homes in Indiana is among the lowest in the country. The state ranked 42nd with an average home value of $155,640.


Do You Need Flood Insurance in Indiana?This is an icon

While Indiana has low flood risk, around 8.1% or approximately 282,400 properties remain at risk of flooding in 2020. To get flood insurance, you will have to see if your community is a participant of the National Flood Insurance Program (NFIP). Some insurers also assist in getting flood insurance.

Do You Need Hail Insurance in Indiana?This is an icon

Indiana residents may have to get hail damage coverage. The state ranks 17th in terms of hail events, with an average of 236 incidents per year.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Indiana that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Indiana. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.

Sources