Average Costs and Cheapest Homeowners Insurance Companies in Indiana

Homeowners insurance in Indiana costs $954 a year on average at a baseline coverage level of $100,000. Nationwide offers the most affordable rates with an average annual premium of $747. These figures are based on a representative dwelling and insurance policy. MoneyGeek researched the average insurance costs for a diverse range of Indiana homes and individual backgrounds.

Insurance Rates

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Last Updated: 6/25/2022
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Nationwide provides the most inexpensive homeowners insurance in Indiana for a baseline dwelling coverage of $100,000, at $747 per year on average.

Nationwide also offers the cheapest options for newer homes and for individuals with bad credit. Allstate is the most affordable insurer for expensive homes and for homes with pools.

MoneyGeek analyzed thousands of quotes from insurers in Indiana to find the cheapest options for your needs.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Indiana if you want to balance cost and quality.

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The Cheapest Homeowners Insurance in Indiana

The Cheapest Homeowners Insurance Quotes in Indiana

MoneyGeek analyzed thousands of quotes from several insurers to discover the cheapest homeowners insurance rates in Indiana for various dwelling coverage levels. With an annual premium of $747, Nationwide is the most affordable option for baseline coverage of $100,000.

MoneyGeek found the following insurers to be the most reasonable for various coverage levels:

  • Cheapest for $100,000: Nationwide
  • Cheapest for $250,000: Allstate
  • Cheapest for $500,000: Allstate

The cost of rebuilding your home and your insurance requirements affect your dwelling coverage level. We recommend checking quotes from at least three providers before making a purchase decision.

Toggle the table below to compare prices for the dwelling coverage that best matches your requirements.

CHEAPEST HOMEOWNERS INSURANCE BY DWELLING COVERAGE

Dwelling Coverage:

$100,000

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How Much Homeowners Insurance Costs in Indiana on Average

All homeowners' insurance prices aren't the same; they're typically based on the amount of dwelling coverage you buy. In Indiana, a $100,000 baseline policy on a home costs, on average, $954 a year.

The level of coverage you choose for your home will substantially impact your rates. The average cost of homeowners insurance in Indiana is $954 per year for baseline coverage of $100,000.

Your coverage level is the biggest factor affecting your premiums. For a higher level of coverage, you'll have to pay more money for more coverage. Home insurance coverage for $3,000,000 costs an average of $17,379 per year in Indiana, a difference of $16,425 between lowest and highest levels.

AVERAGE COST OF HOMEOWNERS INSURANCE BY DWELLING COVERAGE

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  • Dwelling Coverage
    Average Annual Premium
  • $100,000
    $954
  • $250,000
    $1,615
  • $500,000
    $2,734
  • $750,000
    $3,876
  • $1,000,000
    $5,211
  • $2,000,000
    $11,239
  • $3,000,000
    $17,379

Find the Cheapest Homeowners Insurance in Indiana With MoneyGeek’s Calculator

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.

You can try different levels of coverage, deductibles and other factors to discover how much your Indiana homeowners insurance will cost you on average, depending on your needs.

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Home Insurance Calculator

State

Indiana

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$20,000

Credit Score

Excellent
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on average

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

The Cheapest Homeowners Insurance Companies for Expensive Homes

MoneyGeek researched thousands of quotes to find the cheapest homeowners insurance in Indiana for the most expensive homes.

The most affordable options for expensive homes in Indiana are:

  • Allstate: $4,667
  • American Family: $6,094

Premiums to insure expensive homes can vary widely. Shop around and compare quotes from at least three different home insurance providers to find the best rates.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HIGH-VALUE HOMES

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The Cheapest Homeowners Insurance Companies for Newer Homes

As a result of the use of modern materials and techniques, newer homes are less risky to insure and more affordable. MoneyGeek averaged thousands of quotes for a sample house built in 2015 with $250,000 in dwelling coverage to identify the most affordable providers in Indiana.

The cheapest insurers in Indiana for newer homes are:

  • Nationwide: $673
  • Allstate: $802

Your premiums are heavily influenced by the age of your home. Home insurance premiums for newer homes in Indiana are as much as $445 cheaper than homes built in 2000.

The numbers for homes built in 2000 differ from those in the first section because of a different ZIP code collection process.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR OLDER HOMES

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The Average Cost of Homeowners Insurance in Indiana for Newer Homes

For newly built homes in Indiana, the average cost of homeowner's insurance per year is $990. For homes built in 2000, the average annual cost is $1,435. That is a difference of $445.

Older homes are more likely to have higher insurance rates because they are more expensive to repair or rebuild. Older materials can be more challenging to find and more costly. Older homes also tend to have more wear and tear.

AVERAGE COST OF HOMEOWNERS INSURANCE BY HOME AGE

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  • Year of Construction
    Average Annual Premium
  • 2015
    $990
  • 2000
    $1,435

The Cheapest Homeowners Insurance Companies in Indiana if You Have a Pool

MoneyGeek compared thousands of insurance quotes to identify the cheapest options for homes with swimming pools.

Pool owners in Indiana who are looking for affordable homeowners insurance with $250,000 in dwelling coverage may want to consider the following top providers:

  • Allstate: $1,079
  • Nationwide: $1,340

Owning a pool raises your rates because there’s an increased risk for pool-related injuries or death at your home. Higher risk usually results in higher premiums from insurance companies.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HOMES WITH A POOL

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The Average Cost of Homeowners Insurance in Indiana for Pool Owners

Homeowners who have a swimming pool pay an average of $1,452 a year in homeowners insurance premiums. The average rate to insure a comparable home in Indiana without a pool is $1,435 on average. That amounts to an average $17 difference.

AVERAGE COST OF HOMEOWNERS INSURANCE WITH AND WITHOUT POOL

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  • Have a Pool?
    Average Annual Premium
  • With Pool
    $1,452
  • No Pool
    $1,435

Cheapest Home Insurance in Indiana if You Have Poor Credit

MoneyGeek examined thousands of offers to get the best rate for homeowners in Indiana with poor credit histories.

The cheapest options for Indiana homeowners with low credit scores are:

  • Nationwide: $1,157
  • Auto-Owners Insurance Co: $1,464

With a poor credit rating, your home insurance prices might skyrocket. An individual's risk and the likelihood of filing a claim are assessed by insurance companies using credit-based insurance ratings.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR POOR CREDIT

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The Average Cost of Homeowners Insurance in Indiana by Credit Score

Your credit history is taken into account by insurance companies when determining your home insurance premiums. Generally speaking, those with bad credit pay more than those with higher credit scores.

Those with good credit in Indiana pay an average of $1,552 per year, while homeowners with bad credit pay $2,833, a difference of $1,281 per year on average.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CREDIT SCORE

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  • Credit Score
    Average Annual Premium
  • Poor
    $2,833
  • Below Fair
    $2,267
  • Fair
    $1,857
  • Good
    $1,552
  • Excellent
    $1,304

Cheap Homeowners Insurance Quotes in Your Indiana City

Depending on where you live in Indiana, the cheapest home insurer for you may differ. MoneyGeek analyzed rates for Fort Wayne and Indianapolis.

Fort Wayne is the most affordable Indiana city for homeowners insurance, with rates at $823 on average. In Indianapolis, rates average $1,033. These rates are for a baseline coverage level of $100,000.

Nationwide is the cheapest insurer for both cities. Click the city of your choice for more details about insurance prices.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CITY

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  • City
    Average Annual Rate
    Cheapest Company
    Average Annual Rate
  • Fort Wayne
    $823
    Nationwide
    $617
  • Indianapolis
    $1,033
    Nationwide
    $824

How to Get Cheap 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. Insurers will require you to provide 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.

MoneyGeek's Indiana home insurance calculator, created using thousands of quotes from different providers, offers you an option for an anonymous home insurance estimate.

FAQs About Home Insurance Costs in Indiana

In Indiana, the cost of homeowner's insurance is based on your background and the insurance provider you choose. MoneyGeek answers a few commonly asked questions about home insurance in Indiana to help you get started.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 9 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.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.