Indiana Homeowners Insurance Calculator: Free Cost Estimator (2024)


Updated: May 22, 2024

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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.

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Rates updated:

Jul 12, 2024

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If you’re wondering where to find affordable homeowners insurance in Indiana, MoneyGeek gathered rates from several insurance providers in Indiana. Moreover, MoneyGeek studied the best homeowners insurance in Indiana if you also value quality customer service.

We reviewed quotes from different providers to guide you in selecting the most suitable provider for your needs.

How to Estimate the Cost of Your Homeowners Insurance Policy in Indiana

The homeowners insurance costs in Indiana vary depending on several factors, including location, credit score and deductible.

Using MoneyGeek's Indiana home insurance calculator below, take a look at your personalized homeowners insurance estimate.

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    Indiana

    Your homeowners insurance costs depend on where you live. Your premium will be higher if you reside in an area more susceptible to theft, natural disasters, and other risks.

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    Dwelling Coverage

    Dwelling coverage covers the reconstruction of your home if needed. The amount of dwelling coverage you include in your policy affects the cost of homeowners insurance.

    More considerable dwelling coverage limits offer more damage protection at a higher cost.

    In Indiana, the average coverage amount is $100K.

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    Deductible

    The deductible is the amount you pay out of pocket before your insurance covers the remainder.

    For example, if your home insurance deductible is $1,000 and you file a claim for $10,000, you must pay the $1,000. Your insurance provider will cover the remaining $9,000.

    You may opt for a higher deductible if you prefer a more affordable monthly premium.

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    Liability

    Your insurance covers the expenses if someone gets injured in your home because of your negligence. Liability insurance covers these costs.

    Remember to invest in enough liability insurance to safeguard your assets. Increasing your liability limits by tens of thousands of dollars will only cost you a few dollars a month.

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    Personal Property

    Your personal property encompasses different items inside and outside your home. This clause means that your insurance provider compensates you for damaged or stolen items.

    Refer to the calculator below to estimate how much personal property coverage you need.

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    Credit Score

    Credit score plays a vital role in computing insurance prices in Indiana.

    Homeowners with poor credit scores are considered riskier clients since they often file more claims.

    However, a credit score may not be necessary for calculating your rate in some states, including Indiana.

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Average Cost of Home Insurance in Indiana

Indiana offers affordable home insurance. For $250,000 in dwelling coverage, the average Indiana homeowner can expect to pay $1,761 annually, 27.15% less than the national average of $2,417.

If you need more or less dwelling coverage in Indiana, check the table below, as the cost fluctuates per coverage level.

Average Annual Premium in Indiana for Homeowners Insurance
$100,000Average Annual Premium$1,329
$250,000Average Annual Premium$1,761
$500,000Average Annual Premium$3,932
$750,000Average Annual Premium$5,584
$1,000,000Average Annual Premium$7,423
$2,000,000Average Annual Premium$15,548
$3,000,000Average Annual Premium$23,833
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Consider how much dwelling coverage you need before getting homeowners insurance. Several factors affect the replacement cost of your home. These factors are square footage, building materials, height and more. It's best to consult an appraiser to estimate and compute the potential rebuilding costs.

Remember to consider how much money you'd be spending to rebuild your home in the case of total loss.

Average Cost of Home Insurance in Indiana Cities

Homeowner insurance prices change significantly depending on where you live in Indiana. You can observe how much the rates vary from city to city by checking the MoneyGeek table below. It shows the premiums for different Indiana cities.

Average Annual Premium in Indiana Cities for Homeowners Insurance
Fort WayneAverage Annual Premium ($100K Dwelling Coverage)$1,167Average Annual Premium ($250K Dwelling Coverage)$1,539
IndianapolisAverage Annual Premium ($100K Dwelling Coverage)$1,427Average Annual Premium ($250K Dwelling Coverage)$1,955
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In Indiana, the best homeowners insurance is Nationwide, according to MoneyGeek's research.

When looking for a homeowners insurance provider, it's best to find one that offers affordability and quality. MoneyGeek shares more detailed research on the best homeowners insurance companies based on what you need.

Frequently Asked Questions About Home Insurance in Indiana

Generally, the cost of home insurance in Indiana changes due to personal profile, location, insurance provider and home type. MoneyGeek answers the most commonly asked questions about homeowners insurance in the state.

How much does homeowners insurance cost in Indiana?
How do I know how much dwelling coverage to get?

Methodology

To determine the average cost of homeowners insurance in Indiana, MoneyGeek sourced pricing data from Quadrant Information Services.

MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance.

This standard home profile consists of the following attributes:

  • Construction year: 2000
  • Construction type: Frame
  • Composition roof
  • Three-mile radius from the fire department
  • Assumed value of other structures on the property: 10% of the dwelling coverage
  • Personal property coverage: 40% of the dwelling coverage
  • Liability limit: $100,000
  • Deductible: $1,000

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick 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.