For Indiana residents, Allstate offers the most cost-effective home insurance rates for most cities and coverage under $100K. Nationwide also provides appealing rates for new homes, while American Family emerges as the most affordable option for individuals with poor credit scores. Rates may fluctuate based on personal circumstances, dwelling coverages, and other factors, and MoneyGeek's research offers a thorough comparison of quotes from top providers.
Cheapest Homeowners Insurance in Indiana (2024 Rates)
Allstate in Indiana offers the lowest home insurance premium at $776 per year. Your individual's preferences and the characteristics of your home, however, can determine what is cheapest for you.
Mark Fitzpatrick
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
Rae Osborn
Content Editor
Dr. Rae Osborn is a MoneyGeek content editor with over seven years of editing experience and over 20 years of experience in publishing and writing science content. She also works as a science researcher, writer and editor and a professional reviewer for Science Reviews and Advances in Entomology.
Mark Fitzpatrick
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
Rae Osborn
Content Editor
Dr. Rae Osborn is a MoneyGeek content editor with over seven years of editing experience and over 20 years of experience in publishing and writing science content. She also works as a science researcher, writer and editor and a professional reviewer for Science Reviews and Advances in Entomology.
Updated: May 22, 2024
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Table of Contents
Why Trust MoneyGeek? MoneyGeek used information from the Indiana Department of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.
These rates reflect the cheapest home insurance quotes in Indiana as of 2024.
Overall Cheapest Homeowners Insurance in Indiana
In Indiana, the most economical home insurance company for $100K Dwelling Coverage is Allstate offering an annual premium of just $776. However, insurance rates can differ greatly based on dwelling coverage. Here are the cheapest options in Indiana for various coverage limits:
- Cheapest for $100,000: Allstate at $776 per year
- Cheapest for $250,000: Allstate at $1,019 per year
- Cheapest for $500,000: Allstate at $1,468 per year
Use MoneyGeek table below to explore cheap home insurance providers in Indiana by dwelling coverage.
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Allstate | Annual Premium$776 |
American Family | Annual Premium$804 |
State Farm | Annual Premium$995 |
Nationwide | Annual Premium$1,032 |
Auto-Owners Insurance | Annual Premium$1,196 |
Farmers | Annual Premium$1,286 |
Travelers | Annual Premium$4,295 |
Compare Cheap Indiana Home Insurance Quotes Online
The key to affordable home insurance in Indiana is getting quotes from several companies. MoneyGeek's home insurance calculator streamlines this, offering Indiana quotes with no need for personal details first.
Home Insurance Cost Calculator
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Rates updated:
Oct 08, 2024
The MoneyGeek partners with some of the companies we write about. However, our content is written and reviewed by an independent team of editors and licensed agents. Reference our data methodology and learn more about how we make money.
Cheapest Home Insurance in Indiana for High-Value Homes
In Indiana, the most affordable home insurance for high-value homes comes from Allstate. For $750K Dwelling coverage, Allstate charges just $1,999 annually. Dwelling coverage dictates the cost of home insurance, so high-value homes usually pay a higher premium. Opt for the most economical coverage options:
- Cheapest for $750,000: Allstate at $1,999 per year
- Cheapest for $1MM: Allstate at $2,535 per year
Homeowners should consider dwelling coverage equal to their home's replacement cost, rather than the property value. Explore the table below to see the cheapest options if you need higher limits.
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Allstate | Annual Premium$1,999 |
American Family | Annual Premium$3,171 |
State Farm | Annual Premium$4,139 |
Auto-Owners Insurance | Annual Premium$4,932 |
Farmers | Annual Premium$5,067 |
Nationwide | Annual Premium$5,462 |
Travelers | Annual Premium$13,071 |
Cheapest Home Insurance in Indiana for New Homes
Ranking as the most affordable home insurance in Indiana is Nationwide, offering $100K in dwelling coverage at $359 annually. It's worth noting that in Indiana, newer homes tend to be cheaper to insure because they are less likely to have hidden structural issues, faulty wiring, or outdated plumbing — these factors reduce risks for insurers and thereby lower your premiums.
Ranging from lower to higher value coverage options, here are the lowest-priced insurance providers in Indiana:
- Cheapest for $100K Dwelling Coverage: Nationwide at $359 per year
- Cheapest for $250K Dwelling Coverage: Nationwide at $639 per year
- Cheapest for $500K Dwelling Coverage: Allstate at $831 per year
To see how rates fluctuate based on dwelling coverage for newly built homes, refer to the comprehensive table provided by MoneyGeek.
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Nationwide | Annual Premium$359 |
Allstate | Annual Premium$532 |
American Family | Annual Premium$570 |
State Farm | Annual Premium$597 |
Auto-Owners Insurance | Annual Premium$813 |
Farmers | Annual Premium$930 |
Travelers | Annual Premium$1,690 |
Cheapest Home Insurance in Indiana for Low Credit Scores
Indiana's most affordable home insurance for $100K in dwelling coverage for those with poor credit is American Family, costing $1,455 annually. Insurers use your credit score to determine your financial reliability and whether you can pay your premiums. Having a poor credit score indicates a high risk of you being unable to pay, which can lead to higher rates.
If you have a poor credit score in Indiana, below are the cheapest providers for different coverage levels:
- Cheapest for $100K Dwelling Coverage: American Family at $1,455 per year
- Cheapest for $250K Dwelling Coverage: Allstate at $2,127 per year
- Cheapest for $500K Dwelling Coverage: Allstate at $3,065 per year
Poor credit significantly increases insurance costs, with an average cost of $3,720 for $100K in dwelling coverage compared to just $1,483 for those with good credit — a difference of $2,237.
- Below Fair
- Excellent
- Fair
- Good
- Poor
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
American Family | Annual Premium$1,455 |
Nationwide | Annual Premium$1,569 |
Allstate | Annual Premium$1,619 |
Farmers | Annual Premium$2,131 |
State Farm | Annual Premium$2,238 |
Auto-Owners Insurance | Annual Premium$2,903 |
Travelers | Annual Premium$14,126 |
Cheapest Home Insurance in Indiana with a Claims History
Allstate is the most affordable home insurance company in Indiana for those with one claim in the past five years, costing an average of $970 annually for $100K in dwelling coverage. It's important to understand that having claims often leads to higher premiums, as insurers may deem you as likely to make a claim in the future.
Here are the cheapest options for different coverage levels:
- Cheapest for $100,000: Allstate at $970 per year
- Cheapest for $250,000: Allstate at $1,274 per year
- Cheapest for $500,000: Allstate at $1,836 per year
Furthermore, an average increase of $240 annually occurs when comparing homeowners with two past claims to those with no claims at all, indicating significant savings if you have a zero claim history.
- 1 claim in past 5 years
- Claim free for 5+ years
- 2 claims in past 5 years
- 2000
- 2023
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Allstate | Annual Premium$970 |
American Family | Annual Premium$985 |
State Farm | Annual Premium$1,136 |
Auto-Owners Insurance | Annual Premium$1,196 |
Nationwide | Annual Premium$1,396 |
Farmers | Annual Premium$1,481 |
Travelers | Annual Premium$4,612 |
Cheapest Home Insurance in Indiana by Home and Roof Materials
Your home's construction type and roof materials directly influence your insurance cost. If your home in Indiana is of frame construction type and has a shake-treated roof, Allstate offers the lowest annual premium at $783. The choice in materials, particularly inferior ones, increases insurance premiums due to increased risk of damage.
Here's the rundown of the cheapest companies at different dwelling coverages:
- Cheapest for $100,000: Allstate at $783
- Cheapest for $250,000: Allstate at $1,029
- Cheapest for $500,000: Allstate at $1,483
Comparatively, superior construction with a tile roof costs around $324 less annually than a frame construction with shake-treated roof. This difference in annual premiums illustrates the weight of construction and roofing on insurance costs. This is especially important for Indiana residents dealing with extreme weather conditions. Opting for higher quality materials can lead to significant savings on home insurance.
- Frame
- Superior
- Masonry
- Composition
- Shake-Treated
- Tile
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Allstate | Annual Premium$783 |
American Family | Annual Premium$812 |
State Farm | Annual Premium$995 |
Nationwide | Annual Premium$1,282 |
Farmers | Annual Premium$1,372 |
Auto-Owners Insurance | Annual Premium$1,460 |
Travelers | Annual Premium$4,832 |
Cheapest Home Insurance in Indiana by Deductible
Increasing your deductible could potentially lead to annual savings of hundreds of dollars. In Indiana, for instance, the cheapest home insurance company for a $2,000 deductible is Allstate with an annual premium of $705. In comparison, the cheapest for a $500 deductible is American Family, charging $804 per year.
Here are the most affordable companies in Indiana for each deductible level:
- $2000 deductible: Allstate at $705 per year
- $1500 deductible: Allstate at $735 per year
- $1000 deductible: Allstate at $776 per year
- $500 deductible: American Family at $804 per year
In home insurance, a deductible is your share of the expense before your coverage takes effect. The average cost difference between a $500 deductible and a $2000 deductible is approximately $205 across all insurers.
- 500
- 1000
- 1500
- 2000
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Allstate | Annual Premium$705 |
American Family | Annual Premium$781 |
Nationwide | Annual Premium$903 |
State Farm | Annual Premium$915 |
Auto-Owners Insurance | Annual Premium$1,070 |
Farmers | Annual Premium$1,234 |
Travelers | Annual Premium$3,860 |
Cheapest Home and Auto Bundle Insurance in Indiana
Get the cheapest home and auto bundle policy in Indiana with State Farm, offering a $1,987 annual premium. When you combine home and auto insurance.
- State Farm at $1,987 per year
- Allstate at $2,231 per year
Beyond the wallet-friendly advantage, bundling your insurance grants the convenience of managing both policies under one roof. This efficiency makes the insurance-buying process smoother, providing a single contact point for policy-enquiries. For more details, explore the <a href=""https://www.moneygeek.com/insurance/auto/best-home-auto-bundle-in-indiana/"">best Indiana insurance bundle.
State Farm | Annual Premium$1,987 |
Allstate | Annual Premium$2,231 |
Farmers | Annual Premium$2,536 |
Nationwide | Annual Premium$2,934 |
Progressive | Annual Premium$3,186 |
Travelers | Annual Premium$7,363 |
Cheapest Home Insurance in Indiana by City
American Family is the lowest-cost home insurance provider in numerous Indiana cities, boasting rates from $741. Differences in city costs are attributed to distinct factors like local construction codes, crime rates and weather threats. For instance:
- South Bend enjoys the lowest annual premium at American Family, with a rate of $739.
- Indianapolis, however, has the highest annual premium for its low-cost provider, Allstate, with a rate of $896.
Since insurers could have unique calculations for rates in disparate geographic areas, make sure to compare prices when searching for home insurance and find potential savings.
Evansville | Cheapest CompanyAllstate | Annual Premium$786 |
Fort Wayne | Cheapest CompanyAllstate | Annual Premium$741 |
Indianapolis | Cheapest CompanyAllstate | Annual Premium$896 |
South Bend | Cheapest CompanyAmerican Family | Annual Premium$739 |
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.