Indiana is a state that experiences windstorms, blizzards, and everything in between, so if you’re a resident of the Hoosier state, you’ll want to have a solid homeowners insurance policy that protects you in case of expensive damage to your house.
The average cost of homeowners insurance in Indiana is $1,668 per year or $139 a month. This is around 5% lower than the national average of $1,754.
Compare the best homeowners insurance companies in Indiana
Of the companies we looked at, Allstate has the lowest home insurance rate in Indiana, with an average yearly cost of $861 — 93% less than the state average of $1,668, but State Farm and Auto-Owners Insurance have the best J.D. Power ratings for customer and claims satisfaction.
Policygenius analyzed thousands of quotes from the 5 largest Indiana insurers to find the average cost of homeowners insurance with each company in 2023. We then looked at 2022 J.D. Power customer satisfaction scores and compared that with the coverage needs of Indiana residents to find the best homeowners insurance in Indiana.
Company | Best for... | Average monthly cost | Policygenius rating |
|---|---|---|---|
Overall | $203 | 5.0 out of 5 | |
Policy add-ons | $167 | 4.8 out of 5 | |
Coverage options | $109 | 4.5 out of 5 | |
Flood insurance | $127 | 4.5 out of 5 | |
Lots of discounts | $149 | 4.5 out of 5 |
Best overall home insurance company in Indiana: Auto-Owners Insurance
2023 Policygenius award winner
Auto-Owners Insurance
5.0
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Why we chose it
Auto-Owners Insurance is one of the best homeowners insurance company in Indiana thanks to its extensive policy and coverage options, its high marks for financial strength, and its customer experience ratings.
Pros and cons
Pros
Offers a slew of extra coverage add-ons
Lots of discounts available
Flood insurance available through the NFIP
Cons
Not able to get quotes or file claims online
More details
Why Auto-Owners Insurance is our pick for best overall company
Auto-Owners Insurance is our pick for the best overall home insurance company in Indiana. Auto-Owners scored at least a 4 out of 5 for customer experience, coverage options, and financial strength, which earned it a perfect 5 out of 5 Policygenius rating.
With endorsements like guaranteed replacement cost coverage, water backup protection, inland flood coverage, and a comprehensive Homeowners Plus endorsement package, Auto-Owners offers excellent value for the coverage you're getting.
Finally, although Auto-Owners' rates are more expensive than average in Indiana, the company offers a range of discounts that can help lower your insurance rates.
How much does Auto-Owners home insurance cost in Indiana?
The average cost of Auto-Owners home insurance in Indiana is $2,439 per year, according to sample quotes provided to us by Quadrant Information Services. This makes Auto-Owners Insurance about 31% more expensive than the statewide average.
Best for policy add-ons: State Farm
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
State Farm is one of the best home insurance companies in Indiana thanks to its large selection of policy options, high customer service marks, and industry-best financial stability ratings.
Pros and cons
Pros
Save up to $1,127 per year when you bundle your home and auto insurance
Excellent line-up of policy add-ons, including extended replacement cost coverage
Cons
20% more complaints filed with the NAIC than other companies of its size
More details
Why we chose State Farm
State Farm is one of the best home insurance companies in Indiana. One of the reasons why we picked State Farm is because of its coverage options. State Farm lets homeowners get extended replacement cost coverage for their homes, replacement cost coverage for their personal property, water backup protection, and much more.
State Farm's customer service is top-rated, too. The company has received high ratings from policyholders according to J.D. Power’s 2022 customer satisfaction, claims, and digital experience surveys. It has also received the highest rating possible from A.M. Best for financial strength and stability.
The company doesn't offer as many discounts as other insurers in the state, but if you're planning to bundle home and auto insurance with State Farm, you may receive a large discount.
How do State Farm home insurance rates compare to the Indiana average?
The average cost of home insurance from State Farm in Indiana is $167 per month, which is more expensive than the statewide average.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
Best for coverage options: American Family
American Family
4.5
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
Why we chose it
American Family is one of the best home insurance companies in Indiana. It also has industry-best coverage options and high customer service ratings.
Pros and cons
Pros
Affordable rates and 11 available discounts
Ranked #2 in J.D. Power’s 2022 U.S. Home Insurance Study
Diminishing deductible feature to lower out-of-pocket claim costs
Cons
Offers online quotes, but requires talking to an agent to complete the process
More details
Why we chose American Family
AmFam's wide range of coverage options provides discounts (many of which may be easy to qualify for) can make your premiums even cheaper.
American Family offers lots of additional coverage options that you can choose to add to your home insurance policy, too. You can customize your policy with up to 15 additional coverage options — including inland flood, equipment breakdown, and service line coverage.
How do American Family home insurance rates compare to the Indiana average?
The average annual cost of American Family home insurance in Indiana is $109 per month, which is less expensive than the statewide average.
How to get a quote
Online with American Family or by contacting a local agent
Best for flood insurance: Erie
2023 Policygenius award winner
Erie
4.5
Mobile app
Bundle home & auto
Why we chose it
Erie's wide range of coverage options, industry-best customer service ratings, and affordable rates make it one of the best home insurance options in the country.
Pros and cons
Pros
Cheap rates
Guaranteed replacement cost comes standard on Erie policies
Excellent customer service and claims satisfaction ratings
Cons
Only available in 12 states
Just three available discounts
Can’t get quotes or file claims online
More details
Why we chose Erie
Home insurance policies from Erie come standard with guaranteed replacement cost coverage — which you often have to pay extra for at other companies. A basic policy also covers lost and misplaced items, jewelry, and gift cards to closed businesses.
Erie also offers a range of add-ons that you can purchase, like short-term rental coverage, equipment breakdown coverage, water backup protection, underground service line coverage, and more.
How do Erie home insurance rates compare to the average in Indiana?
The average cost of Erie home insurance in Indiana is $127 per month, which is cheaper than the average monthly premium in Indiana of $139 per month.
How to get a quote
Online through Erie
Best for discounts: Farmers
2023 Policygenius award winner
Farmers
4.5
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
Farmers is one of the best home insurance companies in Indiana for combining high claims satisfaction scores with a range of coverage add-ons and discounts.
Pros and cons
Pros
High claims satisfaction score
Receives few complaints from policyholders
Optional extended or guaranteed replacement cost dwelling coverage
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
More details
Why we chose Farmers
Farmers earned a high score in J.D. Power’s 2022 claims satisfaction study (though it was below-average on J.D. Power’s overall customer satisfaction and digital experience surveys). Farmers also receives fewer complaints than average, according to the National Association of Insurance Commissioners.
You can add some impressive coverages to a basic Farmers home insurance policy, like guaranteed or extended replacement cost coverage, water backup protection, and a personal articles floater.
Depending on where you live, you could save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies with Farmers, according to the company website.
Even more, Farmers has up to 16 additional discounts and money-saving policy perks. For context, Farmers competitors offer an average of around seven discounts total.
How do Farmers home insurance rates compare to the average in Indiana?
The average cost of Farmers home insurance in Indiana is $1,792 per year, which is just 7% more expensive than the average annual premium of $1,668 per year.
How to get a quote
Online through Farmers
How much is homeowners insurance in Indiana?
The average cost of homeowners insurance in Indiana is $1,668 per year. This is higher than the national average of $1,754 per year.
Indiana homeowners insurance rates by city
Looking at average home insurance costs for the 20 largest cities in Indiana, we found that Elkhart has the cheapest homeowners insurance in the state, followed by Lafayette.
Here’s a look at the average cost of home insurance in the 20 largest cities in Indiana.
City | Average monthly cost | Average annual cost | Difference from state average (%) |
|---|---|---|---|
Fort Wayne | $132 | $1,584 | -5% |
Evansville | $140 | $1,678 | 1% |
South Bend | $129 | $1,545 | -7% |
Fishers | $136 | $1,632 | -2% |
Carmel | $135 | $1,614 | -3% |
Bloomington | $135 | $1,618 | -3% |
Hammond | $145 | $1,745 | 5% |
Noblesville | $135 | $1,622 | -3% |
Lafayette | $122 | $1,468 | -12% |
Gary | $170 | $2,040 | 22% |
Greenwood | $145 | $1,745 | 5% |
Muncie | $134 | $1,603 | -4% |
Kokomo | $128 | $1,533 | -8% |
Terre Haute | $147 | $1,759 | 5% |
Anderson | $135 | $1,622 | -3% |
Westfield | $137 | $1,648 | -1% |
Elkhart | $118 | $1,419 | -15% |
Columbus | $134 | $1,611 | -3% |
Jeffersonville | $145 | $1,738 | 4% |
Mishawaka | $141 | $1,691 | 1% |
Indiana homeowners insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like hurricanes and fires.
How much dwelling coverage you purchase should be based on the replacement cost of your home — not its market value. That means even if you paid $600,000 for a home that would really only cost $400,000 to rebuild — you’d only need $400,000 in dwelling coverage.
The table below highlights the average annual premium in Indiana for five different levels of dwelling coverage, which is the part of your policy that covers structural damage to your home.
Generally speaking, more dwelling coverage means higher homeowners insurance rates, as shown in the table below.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $876 |
$200,000 | $1,265 |
$300,000 | $1,668 |
$400,000 | $2,079 |
$500,000 | $2,511 |
Cheapest homeowners insurance companies in Indiana
Based on our analysis, Allstate, Westfield Insurance, and Indiana Farmers are the three cheapest home insurance companies in Indiana, with statewide average premiums ranging from $861 to $1,094 per year.
Here are the average rates for homeowners insurance by company.
Company | Average annual cost |
|---|---|
$861 | |
Westfield Insurance | $982 |
Indiana Farmers Insurance | $1,094 |
$1,212 | |
$1,310 | |
$1,343 | |
$1,459 | |
$1,529 | |
$1,792 | |
$1,862 | |
$2,003 | |
$2,144 | |
$2,439 | |
$3,273 | |
$5,120 |
Cheapest Indiana homeowners insurance if you have poor credit
Your credit score also plays a role in your home insurance premiums. Homeowners with lower credit scores generally see higher rates, since insurers consider you more likely to file a claim. Here are the average insurance rates for homeowners with poor credit.
Company | Average annual cost |
|---|---|
Allstate | $1,308 |
Cincinnati Insurance | $1,509 |
Westfield Insurance | $1,609 |
Indiana Farmers Insurance | $1,903 |
Grange Insurance | $1,992 |
American Family | $2,158 |
USAA | $2,264 |
Nationwide | $2,406 |
Farmers | $2,654 |
Progressive | $2,751 |
Erie | $3,409 |
State Farm | $3,437 |
Farm Bureau Insurance | $4,868 |
Auto-Owners Insurance | $4,906 |
Travelers | $18,549 |
Cheapest Indiana homeowners insurance if you have an older home
Older and historic homes are usually more expensive to insure than newer homes. This is because insurers consider them a higher risk than newer homes since they can be fragile, their construction materials may be obsolete, and certain structural components like the roof or plumbing may not be in good shape or up to current-day code. Because of this, they'll charge higher premiums to offset the risk.
Here's the cheapest home insurance in Indiana for a 50-year-old home.
Company | Average annual cost |
|---|---|
Allstate | $832 |
Indiana Farmers Insurance | $1,158 |
Cincinnati Insurance | $1,163 |
American Family | $1,344 |
USAA | $1,382 |
Grange Insurance | $1,460 |
Westfield Insurance | $1,515 |
Erie | $1,678 |
Farmers | $1,758 |
Nationwide | $1,969 |
Progressive | $1,990 |
State Farm | $2,005 |
Auto-Owners Insurance | $2,354 |
Farm Bureau Insurance | $3,111 |
Travelers | $7,192 |
Cheapest Indiana homeowners insurance if you have a history of claims
One of the biggest factors that plays a role in your home insurance premium is your claims history. You'll typically pay more for home insurance if you have multiple claims on your record, since insurers perceive you as posing a greater risk of filing more.
Here's the cheapest home insurance companies in Indiana for a homeowner with three claims within a five-year period.
Company | Average annual cost |
|---|---|
Allstate | $1,327 |
USAA | $1,544 |
Westfield Insurance | $1,739 |
Grange Insurance | $1,757 |
Indiana Farmers Insurance | $1,860 |
Farmers | $2,269 |
State Farm | $2,287 |
American Family | $2,350 |
Auto-Owners Insurance | $2,444 |
Cincinnati Insurance | $2,544 |
Progressive | $2,711 |
Erie | $3,151 |
Nationwide | $3,764 |
Farm Bureau Insurance | $4,729 |
Travelers | $7,741 |
How to buy homeowners insurance in Indiana
Finding the right home insurance is a matter of getting the coverage you need for a fair price. Here are some steps for shopping for insurance in Indiana:
Frequently asked questions
Is home insurance required in Indiana?
While Indiana does not legally mandate homeowners insurance, most mortgage lenders will require it for your loan in order to protect their investment.
What is the average cost of homeowners insurance in Indiana?
The average cost of homeowners insurance in Indiana is $2,045 per year or $170 a month.
Does my age affect home insurance?
While the age of your house will impact your insurance rate, the age of the homeowner will not, although some companies offer discounts for seniors.
