Best homeowners insurance in Indiana (2024)

We looked at average costs, customer service ratings, and policy options from multiple top insurers to find the best and cheapest home insurance companies in Indiana.

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By

Rachael BrennanSenior Editor & Licensed Auto Insurance ExpertRachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Edited by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.
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Reviewed by

Britta M. MossBritta M. MossProperty & casualty claim consultant and expert witnessBritta M. Moss, CPCU, SCLA, AIC-M, has over 25 years of insurance industry experience. In her work as a property and casualty claim consultant, she provides consultation and expert witness services in claim handling standards, practices, and norms.  She has been retained by law firms representing plaintiffs and those representing insurer defendants involved in disputes or litigation regarding coverage analysis, investigation, liability determination, damage evaluation, negotiation and settlement.  She is a graduate of The Ohio State University. 

Updated|3 min read

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

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What to do if you’ve been impacted by 2024 tornadoes

Over 100 tornadoes swept through several states in April and May 2024, including parts of Texas, Kansas, Nebraska, Missouri, Iowa, Michigan, Indiana, and Ohio. Homeowners impacted by these tornadoes may need to file a claim with their insurance company for damage caused by the storms. Policygenius has several resources available to help guide homeowners through the claims process. Homeowners looking for a new insurance policy can reach out to our expert home insurance agents to compare quotes from multiple companies.

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 home insurance rates in Indiana

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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

Auto-Owners Insurance

Overall

$203

5.0 out of 5

State Farm

Policy add-ons

$167

4.8 out of 5

American Family

Coverage options

$109

4.5 out of 5

Erie

Flood insurance

$127

4.5 out of 5

Farmers

Lots of discounts

$149

4.5 out of 5

Best overall home insurance company in Indiana: Auto-Owners Insurance

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2024 Policygenius award winner

Auto-Owners Insurance

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starFull orange star

5.0

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Offers extended replacement cost

Offers flood insurance

Why we chose itchevron icon

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 conschevron icon

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 detailschevron icon

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

State Farm logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.8

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Offers extended replacement cost

Offers flood insurance

Offers earthquake insurance

Wind/hail deductible

Offers wildfire insurance

Why we chose itchevron icon

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 conschevron icon

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 detailschevron icon

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

American Family home insurance

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Offers extended replacement cost

Offers flood insurance

Bundle home & auto

Why we chose itchevron icon

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 conschevron icon

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 detailschevron icon

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

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2024 Policygenius award winner

Erie

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Mobile app

Bundle home & auto

Why we chose itchevron icon

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 conschevron icon

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 detailschevron icon

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

award icon

2024 Policygenius award winner

Farmers

Farmers Insurance logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Offers extended replacement cost

Bundle home & auto

Smart home discounts

Why we chose itchevron icon

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 conschevron icon

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 detailschevron icon

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

Compare home insurance rates in Indiana

We don't sell your information to third parties.

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%

Collapse table

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

Compare home insurance rates in Indiana

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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

Allstate

$861

Westfield Insurance

$982

Indiana Farmers Insurance

$1,094

Cincinnati Insurance

$1,212

American Family

$1,310

USAA

$1,343

Grange Insurance

$1,459

Erie

$1,529

Farmers

$1,792

Nationwide

$1,862

State Farm

$2,003

Progressive

$2,144

Auto-Owners Insurance

$2,439

Farm Bureau Insurance

$3,273

Travelers

$5,120

Collapse table

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

Collapse table

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

Collapse table

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

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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:

5 steps to buying homeowners 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. Flooding can cause expensive damage to your house and typically isn't covered by homeowners insurance, making flood insurance in Indiana a necessity for those in high-risk areas.

  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.

Compare home insurance rates in Indiana

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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.

Author

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Editor

Pat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

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