Cheapest Homeowners Insurance in Indiana (2024 Rates)

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.

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.

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.

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.

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homes tend to be cheaper to insure because they are less likely to have hidden structural issues, faulty wiring, or outdated plumbing — these factors reduce risks for insurers and thereby lower your premiums.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.

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.

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.

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.

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.

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.

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.