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Best homeowners insurance in Indiana of 2022

Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Amy Sims is a managing editor for Bankrate, leading a team responsible for creating educational insurance content. Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance. Updated Nov 07, 2022

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What To Know First

Collapse Caret Up For homeowners in Indiana, having a comprehensive home insurance policy is valuable. But when it comes to choosing the best Indiana homeowners insurance company, it can be overwhelming to review and compare all the providers on the market. To help you find the best homeowners insurance in Indiana for your unique needs, Bankrate used its rating methodology and analyzed premium data to find the Indiana homeowners insurance companies that stand out for features like price, coverage options and customer service. Collapse

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We've maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we're putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most - price, customer service, policy features and savings opportunities - so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we're putting accuracy first.

For homeowners in Indiana, having a comprehensive home insurance policy is valuable. But when it comes to choosing the best Indiana homeowners insurance company, it can be overwhelming to review and compare all the providers on the market. To help you find the best homeowners insurance in Indiana for your unique needs, Bankrate used its rating methodology and analyzed premium data to find the Indiana homeowners insurance companies that stand out for features like price, coverage options and customer service. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage

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Return to form Key Takeaways In Indiana, the average home insurance premium is $1,180 per year for a policy with $250,000 in dwelling coverage. Erie and Nationwide offer the cheapest home insurance premiums, based on the carriers we reviewed. For homeowners in Indiana, having a comprehensive home insurance policy is valuable. But when it comes to choosing the best Indiana homeowners insurance company, it can be overwhelming to review and compare all the providers on the market. To help you find the best homeowners insurance in Indiana for your unique needs, Bankrate used its rating methodology and analyzed premium data to find the Indiana homeowners insurance companies that stand out for features like price, coverage options and customer service. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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Return to form Key Takeaways In Indiana, the average home insurance premium is $1,180 per year for a policy with $250,000 in dwelling coverage. Erie and Nationwide offer the cheapest home insurance premiums, based on the carriers we reviewed. Compare rates and save on home insurance today! Get quotes Close X Compare rates and save on home insurance today! Get quotes Close X Compare rates and save on home insurance today! Get quotes Close X

How Bankrate chose the best home insurance companies in Indiana

To find the best Indiana homeowners insurance, we reviewed top home insurance companies in the state using our unique rating system and premium data from Quadrant Information Services. Based on our findings, each carrier earned a Bankrate Score out of five points. Scores are based on important features like price, coverage options, financial strength, accessibility and online/mobile tools. When comparing home insurance companies in Indiana, checking the Bankrate Scores for companies you are interested in can be helpful. Insurers with a high score stand out in multiple areas and are considered strong companies overall. On the other hand, low Bankrate Scores indicate that the carrier might struggle in certain areas, so you should investigate further to see if the company will meet your needs.

Bankrate utilizes Quadrant Information Services to analyze 2022 current rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits: Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000 Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000 Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000 Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000 Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000 Coverage F, Medical Payments: $1,000 The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores are calculated on a five-point scale and primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from , , , , and Moody's had the most impact on the companies' Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer's online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Best home insurance companies in Indiana

There are many reputable homeowners insurance companies in Indiana, but not all are created equal. According to our review, the best home insurance companies in Indiana are Erie, Auto-Owners and Nationwide. In addition, some top providers identified offer rates below the statewide average, which is $1,180 per year for a policy with $250,000 in dwelling coverage. In the table below, you can see which Indiana homeowners insurance companies we recommend, as well as their average annual premiums, Bankrate Scores and third-party ratings. Home insurance company Bankrate Score Average annual premium for $250K in dwelling coverage J.D. Power score AM Best rating 4.6 $982 835/1,000 A+ 4.3 $1,762 831/1,000 A++ 4.1 $1,186 812/1,000 A+ 4.0 $1,739 N/A A Not rated $1,304 N/A A+ This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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Erie

Best for: Low rates Erie offers the in Indiana, based on the companies we reviewed. The company is also rated above average by J.D. Power for overall customer satisfaction and has excellent financial strength. In addition to its low rates, Erie stands out for its coverage options, like guaranteed replacement cost coverage, water backup coverage, service line protection and identity theft coverage. There are also a handful of discounts available for policy savings, but Erie offers fewer discounts than some other companies on our list. Learn more:

Auto-Owners

Best for: Add-on coverage Auto-Owners is one of the for Indiana homeowners looking to customize their policy with add-ons. The company offers a variety of endorsements for more protection, like special personal property coverage, ordinance or law coverage, equipment breakdown coverage and home cyber protection. There are also lots of discounts that may help you earn a lower premium. Overall, Auto-Owners is a strong insurance provider, but one of the downsides is that you must work with an independent agent that represents the company to or buy a policy. Learn more:

Nationwide

Best for: Discounts Nationwide is our top pick for discounts. The company offers many ways for Indiana homeowners to get a cheaper rate, with discounts for bundling your policies, installing protective devices in your home, renovating major home systems, living in a gated community, insuring a newly purchased home and a few others. Nationwide also offers a special discount to homeowners participating in the , which is available in select states. In addition, the company offers a good selection of endorsements for added coverage. Learn more:

Indiana Farm Bureau

Best for: Customer service Indiana Farm Bureau offers personalized customer service. To get coverage from this company, you must join the Farm Bureau, a membership-based program. Indiana homeowners interested in Farm Bureau home insurance must work with an agent to get a quote and purchase a policy. However, the company's agents can help you choose coverage types and policy limits that make sense for your needs and find discounts to help lower your rate. However, keep in mind that Indiana Farm Bureau's average rates are more expensive than some other companies we reviewed. Learn more:

Encompass

Best for: Replacement cost coverage Encompass may be a lesser-known home insurance company that sells coverage in Indiana. The company is an Allstate company, and its products are sold exclusively through independent agents. Homeowners may consider Encompass if they want to boost their coverage by upgrading to a replacement cost coverage policy. If you purchase the Elite or Deluxe homeowners coverage package, you get coverage limits equal to 200 percent of your home's value for your dwelling, personal property and detached structures. You can also get coverage for increased building costs. Learn more:

How much is homeowners insurance in Indiana

The in Indiana is $1,180 per year, 16 percent less than the national average rate of $1,383 based on $250,000 in dwelling coverage. Indiana home insurance rates are also cheaper than some neighboring states. For example, the average home insurance premium in Kentucky is $1,820, and the average rate in Illinois is $1,376. The lower-than-average cost of homeowners insurance in Indiana is due to the state's lower average price of real estate compared to neighboring states. However, rates may increase as - which could increase the risk of home damage - continue to rise in the Hoosier State, as well as across the U.S., according to an analysis from the Insurance Information Institute (Triple-I). While it can be helpful to see average rates, it's important to remember that home insurance premiums are personalized. Factors like your credit-based insurance score and claim history may impact the cost, as well as the size of your house, the year it was built and the ZIP code. In the table below, you can see the average home insurance premium in several Indiana cities:

Indiana city Average annual premium for $250K dwelling coverage Carmel $1,162 Evansville $1,187 Fort Wayne $1,041 Indianapolis $1,280 South Bend $1,140

Home insurance considerations in Indiana

Indiana residents should prepare for flooding, damaging winds, lightning strikes and winter hazards, caused by severe weather events happening more frequently in the state. Consider the damage caused by natural disasters when determining the types of homeowners insurance to purchase for your Indiana home, as well as coverage types like flood insurance.

Common causes of loss in Indiana

Home insurance losses in Indiana are not uncommon. There are a variety of situations that can cause damage to your home or personal belongings, which would be covered under your insurance policy. Here are some of the most common types of losses that Indiana homeowners may face: : Tornadoes are serious weather-related disasters that Indiana homeowners face. In 2021, were confirmed in Indiana, and since 1950, more than 1,400 tornadoes were recorded. In most cases, a standard home insurance policy will cover tornado damage. : Homeowners may be unaware that Indiana experiences earthquakes. The in Indiana was in June 2021, when a 3.8 magnitude earthquake struck the Indiana-Illinois border, roughly 1.9 miles west of Bloomingdale, IN. Because standard home insurance policies don't cover earthquakes, Indiana homeowners may consider a separate earthquake insurance policy or add the coverage as an endorsement. Flooding: In Indiana, severe storms are common during summer, often bringing heavy rain and flash flooding. In 2021, there were . A flood insurance policy can be beneficial in protecting your home from flood damage. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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Return to form Once you know what common types of damage happen in your area, you can tailor your home insurance policy to meet your specific needs. Some coverage options for Hoosiers to consider are: : Home policies don't cover flood damage, so you may want to consider a flood insurance policy. You can often buy flood coverage from the federally-backed National Flood Insurance Program (NFIP) or from many private insurers that underwrite flood policies. : Homeowners with basements may find it important to add a water and sewer backup endorsement to their policies. If you don't have a basement, this add-on coverage could help protect your finances if your home's damage is by drain-line backups. It also covers sump-pump failures during a power outage. : If your roof is new enough and in good condition, you may qualify for replacement cost roof coverage. Indiana's weather hazards - including damaging straight-line winds, hail and tornadoes - can lead to roof damage. This endorsement can help ensure that you're paid the amount to replace the damaged portions of your roof, rather than depreciation being factored into your claim payment. Working with a local insurance agent could be beneficial if you aren't sure what coverage types are best for your situation.

Frequently asked questions

The will depend on your specific wants and needs. For example, some homeowners might want a company with a user-friendly mobile app where they can manage their policy and file claims, while others are looking for the they can find. Understanding your needs and getting quotes from a few different carriers could help you find the right option for you.

Indiana, like all states, does not require its residents to have homeowners insurance, but your lender will likely require it. Home insurance is often an important part of your financial plan, even if it is not required. A proper policy can help shield you and your family from financial devastation should your home be severely damaged.

Flood zones vary across Indiana, but if you have a mortgage in a designated FEMA flood zone, you'll likely be required to have a flood insurance policy. But even if you have no mortgage, you may want to check the flood zone you are in and how common flood damage is in your area to help determine whether you need this type of coverage. You can check your flood zone with and then use that information to have a conversation with your insurance agent about your flood risk. It is important to note that flooding can happen anywhere, so even if you are outside a flood zone, it may be worth considering flood coverage to avoid financial devastation should a flood occur.

Like most standard homeowners insurance policies in the U.S., Indiana homeowners policies typically include additional living expenses (ALE) coverage if your home becomes uninhabitable due to a covered loss. ALE covers living expenses incurred by you so your household can maintain its normal standard of living. This typically includes lodging, moving costs, grocery or restaurant bills and storage expenses. Written by Elizabeth Rivelli Insurance Contributor Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Amy Sims is a managing editor for Bankrate, leading a team responsible for creating educational insurance content. Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

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Best Homeowners Insurance in Indiana 2022 Bankrate

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How We Make Money

Best homeowners insurance in Indiana of 2022

Find your perfect provider

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The Bankrate promise

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Key Principles

Editorial Independence

How we make money

Insurance Disclosure

What To Know First

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The Bankrate promise

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Compare home insurance rates

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How Bankrate chose the best home insurance companies in Indiana

Best home insurance companies in Indiana

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Erie

Auto-Owners

Nationwide

Indiana Farm Bureau

Encompass

How much is homeowners insurance in Indiana

Home insurance considerations in Indiana

Common causes of loss in Indiana

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Frequently asked questions

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