Best homeowners insurance in Indiana for 2022

Jessica Olivo

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Jessica Olivo

Jessica Olivo

Freelance contributor

Jessica Olivo is a writer living in Connecticut. She specializes in web and blog content in a variety of topics such as parenting, business, and culture, as well as serialized and short fiction.

After working in publishing and book publicity for many years, she transitioned to freelance writing full time.

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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 $2,045 per year or $170 a month. This is around 7% higher than the national average of $1,899.

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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 — 58% less than the state average of $2,045. 

State Farm has the best J.D. Power rating for customer and claims satisfaction. And while the average annual home insurance premium with State Farm is higher than Allstate’s, it’s still less than the state average.

Policygenius analyzed thousands of quotes from the 5 largest Indiana insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 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

Average yearly cost

J.D. Power Rating

State Farm

$2,003

835

Allstate

$861

829

Indiana Farm Bureau Insurance

$3,273

--

American Family

$1,310

831

Erie

$1,529

--

State Farm

State Farm logo

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

  • Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

  • Get up to $1 million in personal liability coverage

  • Score discounts for bundling, installing security devices, and choosing a high deductible

  • File and track claims online, over the phone, in person, or through its mobile app

  • High customer satisfaction and financial strength ratings

Cons

  • No discounts for first-time homebuyers or going a year without a claim

Why State Farm tops our best list

State Farm’s mobile app offers many benefits for customers, including easy access to view both your full policy and your ID cards. From your phone or tablet, you can also file and track claims as well as upload photos of damage to your home or belongings.

How to get a quote

Online through State Farm

Allstate

Allstate logo

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

  • Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

  • 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

  • Get up to 25% off your premiums when you bundle home and auto insurance

  • Excellent customer service and claims satisfaction ratings

  • File and track claims online or through its mobile app

Cons

  • Rates are typically high compared to competitors

Why Allstate tops our best list

Allstate uses mobile claim units in areas affected by power outages and other constraints to make sure customers can file and process claims as quickly as possible. When a storm or other catastrophe makes it impossible for you to file a claim due to down power and phone lines, Allstate will come to you. 

How to get a quote

Online through Policygenius or Allstate

Indiana Farm Bureau Insurance

Indiana Farm Bureau Insurance logo

Indiana Farm Bureau Insurance offers a solid mix of home insurance coverage and personalized customer service — including an inflation protection program that automatically adjusts your coverage limits to keep up with rising construction costs.

Pros

  • High-quality coverage add-ons, including inflation protection and short-term rental insurance

  • Score discounts for zero claims, paying your premiums in full for the year, having a newish home, and more

  • Save 18% on your auto insurance and 20% on your home insurance when you bundle the policies together

  • Exceptional customer service ratings

  • Low rate of customer complaints

Cons

  • Farm Bureau membership required for coverage

  • Not much information about specific coverage offerings available online

Why Indiana Farm Bureau tops our best list

Indiana’s farmers have the option to conveniently bundle both their home and farm policies with the same company. Indiana Farm Bureau offers farm and crop insurance to protect your livelihood against weather and other hazards. 

How to get a quote

Online through Indiana Farm Bureau

American Family

American Family logo

American Family's status as the 7th largest home insurance provider in the U.S. speaks to its popularity and reputation. Our fave perk? Its diminishing deductible program that lets you earn credits for every year you go without filing a claim.

Pros

  • Unique coverage add-ons, like matching siding insurance and hidden water damage coverage

  • Save up to 20% on home insurance and 29% on auto insurance for bundling the policies together

  • Earn a $100 credit toward your deductible for ever year you go without filing a claim

  • File claims online or on its mobile app — with 24/7 claims support

Cons

  • Doesn't offer extended or guaranteed replacement cost coverage

  • Above-average customer complaints according to the NAIC

Why American Family tops our best list

American Family offers a $100 credit off of your deductible with every year you renew your policy and remain claim free, plus an additional $100 credit when you sign up. The longer you go without filing a claim, the less your deductible will be if you ever need to pay it.

How to get a quote

Online through American Family

Erie

Erie logo

With some of the best customer service ratings in the industry, Erie offers comprehensive coverage even with its most basic policy — including guaranteed replacement cost coverage and protection for lost items.

Pros

  • Score up to a 25% discount when you bundle your home and auto insurance

  • Guaranteed replacement cost coverage is included in the base policy

  • Theft coverage includes lost or misplaced items — a rare perk we don't see often

  • Multiple policy add-ons available, including water backup and service line coverage

  • Among the best customer service ratings in the industry

Cons

  • Can't file claims online — must speak to an Erie agent on the phone

Why Erie tops our best list

Erie offers several attractive home insurance coverage options that can add value to your policy. Its theft coverage also includes coverage for lost or misplaced items; it’ll cover the cost to replace documents such as passports and birth certificates; and Erie will even cover gift cards in the event the establishment that provided the gift cards goes out of business. 

How to get a quote

Online through Erie

Cheapest homeowners insurance companies by city in Indiana

Looking at average home insurance costs for the 15 most popular insurers in Indiana, we found that the cheapest homeowners insurance company in the state is Allstate. In Indiana’s three biggest cities: Indianapolis, Fort Wayne, and Bloomington — the average annual cost of home insurance with Allstate is $992, $826, and $878, respectively.

The cost of home insurance can vary from city to city based on a variety of factors. Parts of the state that are more prone to tornadoes as well as cities with higher crime, such as Indianapolis and South Bend, will see more expensive rates. There are also factors that are specific to your home that determine your rate, such as the age, value, and size of your house.

City

Company

Average yearly cost

Aberdeen

Allstate

$888

Advance

Allstate

$852

Akron

Allstate

$866

Alamo

Allstate

$859

Albany

Allstate

$803

Albion

Allstate

$853

Alexandria

Allstate

$862

Ambia

Allstate

$815

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Shopping for homeowners insurance in Indiana

When shopping for homeowners insurance, it’s important to compare quotes from several companies to ensure you’re getting the right coverage at the best price. 

In this section, we break down the average annual home insurance rates in Indiana for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Indiana.

Indiana home insurance costs by coverage amounts

Dwelling coverage is the part of your home insurance that pays to repair or rebuild your home after a covered loss. Your coverage amounts should be based on your home’s replacement cost, not its market value or what you paid for it. 

As the table demonstrates, more dwelling coverage means higher home insurance rates. In Indiana, the average yearly cost of a policy with $200,000 in dwelling coverage is $1,551, while a policy with $300,000 in coverage is $2,045 — a difference of almost $500.

Dwelling coverage amount

Average yearly cost

$100,000

$1,076

$200,000

$1,551

$300,000

$2,045

$400,000

$2,539

$500,000

$3,082

Liability coverage protects you in case you’re legally responsible for somebody getting injured or damage to their property. Your liability coverage amount should be high enough to cover the total value of your assets, including your house, cars and other vehicles, and your liquid assets such as your savings and investments.

Liability coverage amount

Average yearly cost

$100,000

$2,080

$200,000

$1,536

$300,000

$2,045

$400,000

$1,488

$500,000

$2,144

Indiana home insurance costs by deductible amount

Your homeowners insurance deductible is the amount you pay towards each claim before your insurance covers the rest of the loss. A higher deductible can keep your premiums down, but you’ll also have to pay more out of pocket in the event of a claim. 

As seen in the table below, Indiana residents can save around $319 on home insurance by choosing a $2,000 deductible over the $500 option.

Deductible amount

Average yearly cost

$500

$2,269

$1,000

$2,045

$2,000

$1,950

Home insurance discounts in Indiana

If you’re looking for ways to save on homeowners insurance, your insurance company will give you adiscount if your home has protective features like security systems or smoke alarms. 

While you won’t see huge savings if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Indiana with deadbolts, smoke alarms, or burglar alarms. 

Discount

Average yearly cost

Dead bolt

$2,045

Smoke alarm

$2,039

Burglar alarm

$2,031

Home insurance companies in Indiana for dog owners

Dog owners may see higher home insurance rates since certain dog breeds are often responsible for bite-related liability claims. 

With an average rate of $861 per year, Allstate has the cheapest home insurance rates in Indiana for a home with a dangerous dog breed, while Indiana Farm Bureau’s average yearly premium of $3,273 is the highest. 

Company

Average yearly cost

Allstate

$861

American Family

$1,320

Erie

$1,529

State Farm

$2,003

Indiana Farm Bureau Insurance

$3,273

Home insurance companies in Indiana for poor credit

Insurance companies often charge higher rates to customers with low credit scores. By looking into your credit history, insurers can determine if you are likely to pay your bills late or even file a claim. 

With an average rate of $1,308 per year, Allstate has the cheapest home insurance rates in Indiana  for a homeowner with poor credit, while Indiana Farm Bureau’s average yearly premium of $4,868 is the highest. 

Company

Average yearly cost

Allstate

$1,308

American Family

$2,158

Erie

$3,409

State Farm

$3,437

Indiana Farm Bureau Insurance

$4,868

Home insurance companies in Indiana for pool owners

Pool owners will often see higher home insurance rates due to the increased likelihood of injuries and liability claims. 

With an average rate of $861 per year, Allstate has the cheapest home insurance rates for Indiana  homes that have a swimming pool, while Indiana Farm Bureau’s average yearly premium of $3,273 is the most expensive.

Company

Average yearly cost

Allstate

$861

American Family

$1,321

Erie

$1,686

State Farm

$2,003

Indiana Farm Bureau Insurance

$3,273

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:

  1. Reach out to a licensed Policygenius agent. If you have questions about anything from coverage limits to comparing quotes, a Policygenius agent is available at no cost to you.

  2. Ask about the Indiana FAIR plan. If you’ve been rejected by other insurance companies, the Indiana FAIR plan offers last resort home insurance coverage.

  3. Consider purchasing flood insurance. Floods can cause expensive damages to your house and are typically not covered by homeowners insurance.

  4. Compare quotes from a Policygenius agent. If you need help determining which quote is best for you, a Policygenius agent can help.

  5. Choose your policy, sign it, and pay your first premium. When you’ve found the right coverage for the best price, a Policygenius agent can complete the paperwork and cancel your old policy. All you have to do is make your first payment.

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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.

Methodology

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

  • Dwelling: $300,000

  • Other structures: $30,000

  • Personal property: $150,000

  • Loss of use: $60,000

  • Liability: $300,000

  • Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.