Find the Cheapest Homeowners Insurance Quotes in Your Area
We evaluated homeowners insurance quotes for a sample 2,000 square foot home in 125 cities in the state of Indiana in order to determine which cities had the highest and lowest annual home insurance costs. Based on this sample property, Indiana homeowners pay on average $1,852 per year for home insurance. Home insurance prices in Indiana vary by over 87% between the cities in our study. Below we profile a few cities in the state of Indiana. Read more about our findings, or use our quote tool above to find homeowners insurance quotes in your area.
- Best Homeowners Insurance Companies in Indiana
- Cheapest Home Insurance Companies in Indiana
- Homeowners Insurance Rates in Indiana's Largest Cities
- Top 5 Least Expensive Cities for Home Insurance In Indiana
- Top 5 Most Expensive Cities for Home Insurance in Indiana
Best Homeowners Insurance Companies in Indiana
- Liberty Mutual
- State Farm
- Indiana Farm Bureau
You could live anywhere from Indianapolis to Lafayette, the best home insurance company for you will balance suitable coverage features, affordable prices and a strong customer service reputation. For this ranking we've emphasized customer service, rating the largest homeowners insurance companies in the Hoosier State using customer complaints.
|Rank||Company||Market share||Complaint ratio|
|2||Indiana Farm Bureau||8.1%||0.53|
|3||Liberty Mutual (Safeco)||7.9%||0.23|
Find the Cheapest Homeowners Insurance Quotes in Your Area
The best home insurance providers in Indiana for customer service are Liberty Mutual, State Farm and Indiana Farm Bureau. The worst of the state's major insurers are Travelers, Farmers and USAA. Indiana homeowners have a mixed opinion of the biggest home insurance companies in the state, with six receiving a complaint ratio of one or below, indicating average or above-average service, and four receiving ratios above one, indicating poorer service. Travelers receives the worst rating by far with a complaint ratio of 2.1.
Indiana Homeowners Insurance Company Reviews
The three largest homeowners insurance companies in Indiana by market share are State Farm, Indiana Farm Bureau and Safeco. We reviewed these insurers below, focusing on policy coverage, customer experience and financial stability.
Making up over one quarter of Indiana's market, State Farm has the biggest home insurance presence in the Hoosier State. The insurer stands out for its multi-policy discount, customer service and variety of add-on coverage features.
State Farm has one of the biggest potential discounts on offer if you're looking to insure both your home and car. Bundling these policies together can save you up to 35% on your home insurance premium, competitive savings from an insurer that already ranks among Indiana's cheapest.
State Farm will also has good customer relations and a plethora of coverage add-ons for those who need them. With the second-best customer complaint ratio of the 10 largest insurers in the state, trailing only Safeco, you're likely to get some of the best customer service available. And if you have specific coverage needs, State Farm can likely fill them with an add-on feature. For instance, if you want coverage for other structures on your property—such as a tool shed or detached garage—beyond the traditional limit, you can increase those limits at an additional cost.
State Farm receives the highest possible financial strength rating from A.M. Best, "A++", meaning there is little to no risk of the company being unable to pay your claims for financial reasons.
Indiana Farm Bureau
Indiana Farm Bureau provides home insurance with a local touch, given it has offices in all 92 counties of the state. Indiana Farm Bureau is a good choice for those who want to do their home insurance shopping in person with a local professional. But you'll have to pay the Bureau's $32.50 annual membership fee for access.
If you're looking to quickly compare quotes and find the cheapest insurance option, the Farm Bureau may not be the best fit given its lack of an online quote tool. But by shopping with the Bureau you will get accessible local service, the benefits of which are reinforced by the third-best customer complaint ratio in Indiana behind only State Farm and Safeco.
Indiana customers with newer roofs fortified with impact resistance technology should also look into the Farm Bureau for savings, as those with roof surfaces meeting certain Underwriters' Laboratories standards may be eligible for discounts. Finally, the Indiana Farm Bureau is in excellent financial condition, receiving an "A-" strength rating from A.M. Best, though not as strong as Safeco or State Farm.
Safeco (Liberty Mutual)
Liberty Mutual is the third-largest insurance group in Indiana, largely due to the presence of its subsidiary, Safeco Insurance, in the state. Unlike Indiana Farm Bureau, Safeco does have a quote tool, but it is much more simplistic than that of State Farm, meaning you'll have to talk to an insurance agent to get a more accurate quote estimate. Fortunately, Safeco has a great customer service reputation and also features some unique coverage add-ons, so customers should ultimately make an effort to get a quote.
With the best customer complaint ratio out of the top insurance companies in Indiana, Safeco is likely to treat you to some of the better customer service in the state. Safeco also has some of the most unique coverage features of these top insurers. For instance, you can opt for mine subsidence coverage; potentially important given that Indiana is one of the most vulnerable states for mine subsidence risk. Or you can purchase equipment breakdown coverage for $2 per month, which acts as appliance insurance in case of an unexpected mechanical or electrical breakdown.
Safeco receives an A.M. Best rating of "A" for financial strength, meaning it's in excellent financial condition.
Cheapest Home Insurance Companies in Indiana
We gathered quotes for our sample home across 125 cities from State Farm, Allstate, and Farmers. Quotes from each company were averaged to find which insurance companies had the best home insurance rates in Indiana. The graph below shows the average annual costs to insure our sample home by company alongside the state average:
Find the Cheapest Homeowners Insurance Quotes in Your Area
Best Homeowners Insurance Rates in Indiana's Largest Cities
We evaluated homeowners insurance rates across the largest cities in Indiana. To ensure that we gathered comparable quotes, our study implemented control variables. On average, homeowners in the ten largest cities pay 6% less than the rest of the state on homeowners insurance. Based on our study, the cost for home insurance in the ten largest cities was an average of $1,739 per year.
Indianapolis, the largest city in the state of Indiana, hosts the world’s largest one-day sporting event, the Indianapolis 500. Indianapolis is also home to the Colts, a professional football team. The city is also well known for its modern airport, which was the first international airport in the United States built and designed after 9/11. Our study shows that the average cost of home insurance in Indianapolis is $2,000 per year, which is $148 greater than the state mean.
State Farm offered the most affordable home insurance quote in Indianapolis at an annual cost of $1,577. Farmers, the most expensive insurer in the city, quoted our sample home an annual cost of $2,484, which is $907 greater than State Farm’s quote.
Fort Wayne, IN
Fort Wayne is the second largest city in the state of Indiana. The city resides within Allen County which benefits from over $500 million of annual tourism spending. A third of Fort Wayne’s residents are employed in high wage occupations. Residents of Fort Wayne pay an average of $1,549 for homeowners insurance annually, which is 16% less than the state average.
The most affordable home insurance rate in the area was offered by Allstate at $1,313. The second most affordable rate was offered by State Farm at $1,482, which is $169 greater than Allstate’s quote. Farmers, the most expensive insurer in the area, offered a quote equal to the state mean.
Evansville is the third most populous city in the state of Indiana. Evansville sits on the Indiana-Kentucky border and on the shore of the Ohio River. The city is home to the University of Evansville which was founded in 1854. Based on our research, the average homeowners insurance quote in the city is $1,689. Residents of Evansville pay 9% less for their homeowners insurance than the state mean.
Only one insurer in Evansville offered an annual rate that was greater than the state mean. The most expensive quote was offered by Farmers at $1,932, which is $81 greater than the state average. The cheapest quote in Evansville was offered by Allstate at $1,560.
South Bend, IN
The city of South Bend is the fourth most populous city in the state of Indiana. South Bend serves as an educational hub for the state of Indiana. The city is home to several universities including the University of Notre Dame and Indiana University - South Bend. The average annual homeowners insurance quote in South Bend is $1,771 per year, which is 4% less than the state mean.
If you’re looking for some affordable home insurance rates in South Bend then we suggest starting with Allstate which quoted our sample home a cost of $1,196 annually. Farmers offered the least affordable rate at $2,392 per year, which is twice the quote offered by Allstate.
Hammond, the fifth most populous city in the state of Indiana, sits on the coast of Lake Michigan. The city is only a 35 minute drive from the city of Chicago. Hammond is named after the owner of a slaughterhouse in the late 1800’s. Today the city boasts approximately 950 acres of city parks. Based on our study, the average homeowners insurance policy in the city of Hammond comes at an annual price of $1,633.
Allstate quoted the least expensive rate in Hammond at $1,391 annually. That is $692 less than Farmers’ quote of $2,083. Farmers is the least affordable insurer in the city. In fact, Farmers was the only insurer in our study who offered a quote greater than the state mean in Hammond.
Bloomington is the sixth most populous city in the state of Indiana. Originally, settlers of the area focused on farming, limestone extraction, and furniture. Today top industries include entrepreneurship, nonprofits and government. Residents of Bloomington pay an average home insurance cost of $1,752 based on our study.
State Farm offered the lowest home insurance quote in Bloomington at a rate of $1,424. The second most affordable insurer in the area, Allstate, offered a quote of $1,492, which is $68 more than State Farm’s quote. Residents of Bloomington pay 5% less on average for their home insurance than the state mean.
Gary is the seventh largest city in the state of Indiana. The city ranks as one of the least safest places to live in the state of Indiana. Popular attractions in the area include the Jackson 5 childhood home and the USS Steel Yard. Our research found that the average home insurance premium in Gary was $2,017, which is $166 greater than the average in the state of Indiana.
Gary ranks in the bottom quartile for the most affordable rates for home insurance in the state of Indiana. State Farm offered a quote of $1,789, which is $682 cheaper than the rate of $2,471 offered by Farmers. Residents of Gary pay, on average, 9% greater than the state mean for home insurance.
Carmel is the eighth largest city in the state of Indiana. Carmel is a small city taking up approximately 47 square miles of land in Indiana. The city features more than 80 roundabouts which is more than any city in the United States. On average, residents of Carmel pay 7% less for their home insurance than the rest of the state.
Allstate offered the lowest quote from the insurance companies sampled at an annual cost of $1,390. The next most affordable home insurance quote was given by State Farm at $1,498, which represents a $108 increase from the quote offered by Allstate. Farmers was the only insurer in the city of Carmel who offered a quote which was greater than the state average.
Muncie is the ninth most populous city in the state of Indiana. The city is home to Ball State University which was originally opened in 1899. Recently, the town has taken steps to revitalize downtown by approving of several projects including the reconstruction of Walnut Street. Residents of Muncie pay an average of $1,720 a year for homeowners insurance.
State Farm offered the lowest quote in the city at a cost of $1,537. The second most affordable homeowners insurance quote gathered was offered by Allstate at $1,690. Muncie ranks just outside of the first quartile of the most affordable cities for home insurance in the state of Indiana. On average, residents pay $131 less than the state mean.
Lafayette is the tenth largest city in the state of Indiana. Many well known Americans have ties to the Lafayette area. For example, Neil Armstrong was a graduate of Purdue University and Axl Rose was born in the city. Lafayette has an average annual home insurance cost of $1,540, which is $311 less than the state mean.
Allstate quoted the cheapest home insurance quote in the area at $1,346. Farmers offered the most expensive home insurance quote at $1,893, which is $547 greater than the quote offered by Allstate. Lafayette is ranked the third most affordable city for home insurance rates in the state of Indiana.
Least Expensive Homeowners Insurance in Indiana: by City
The graph below shows the five best cities for home insurance of all 125 cities which were part of this study. The cities are listed in order of mean price starting with the lowest average home insurance quote and ascending. Kendallville is the cheapest city in Indiana for homeowners insurance based on our study. Residents pay $1,381 annually on average, which is $470 lower than the state average.
According to our study, Kendallville is the most affordable city in the state of Indiana for homeowners insurance. On average, residents pay 25% less for their homeowners insurance policy when compared to the state mean. All quotes gathered in Kendallville were less than the state mean.
Auburn offers the second most affordable homeowners insurance rates in the state of Indiana. The mean home insurance quote in the city was $1,477, which is 20% cheaper than the state average. The most affordable quote in Auburn was offered by Allstate at $1,403 annually.
Lafayette ranks as the third least expensive city in Indiana for homeowners insurance. The average home insurance quote gathered for the city of Lafayette was $1,540, which is $311 less than the state mean. On a percentage basis, this represents a 17% discount.
Fort Wayne, IN
Fort Wayne offers the fourth most affordable home insurance rates in the state of Indiana. Residents pay on average $1,549 per year, which is $303 less than the state average. The lowest rate in the city was offered by Allstate at $1,313.
Lebanon is ranked the fifth least expensive city in Indiana for home insurance. On average, residents pay $1,566 for home insurance, which represents a 15% lower rate when compared to the state mean. On an annual basis, residents save $285 on homeowners insurance versus the state average.
Most Expensive Homeowners Insurance in Indiana: by City
The graph below shows the five most expensive places of all 125 cities which were part of this study. The cities are listed in order of price starting with the highest average rate and descending. The figures listed represent the average home insurance rate in each city based on our study. The most expensive city for homeowners insurance was French Lick where our research found an average annual rate of $2,592, which is $740 higher than the state average.
We studied 125 cities, spread out geographically all throughout the state of Indiana. The sample home we looked at was built in the year 2000 and had 2,000 square feet. The property cost $200,000 and had an attached garage. Quotes for this home were obtained from State Farm, Allstate, and Farmers insurance companies. The rates were then averaged to arrive at a mean for each city. To see an alphabetical list of all the cities included in the comparison analysis, please see below. We've displayed all cities from Albion to Zionsville with the average annual cost of insurance for the benchmark property and how much each city costs relative to the statewide average.
|Rank||City||Average Insurance Rate||Cost Compared to Average|
|46||West Terre Haute||1,778||-4%|