The Best and Cheapest Home Insurance Companies in Indiana

The Best and Cheapest Home Insurance Companies in Indiana

Cincinnati Financial has the cheapest home insurance in Indiana, at only $591 per year, on average.

The average price of homeowners insurance statewide is $1,500 per year. Allstate, Erie and State Farm are other affordable options at under $1,000 per year.

We collected thousands of home insurance quotes across Indiana to find the best coverage in the state. Along with prices, you should judge a homeowners insurance company by the features it offers and its reputation for quality customer service.

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The cheapest options for homeowners insurance in Indiana

We found that Cincinnati Insurance, the cheapest insurer in Indiana, was $5,536 cheaper per year than the most expensive option, Travelers. Cincinnati's rate of $591 per year is 61% cheaper than the state average.

The graph shows which companies are the cheapest for home insurance in Indiana

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Allstate, Erie and State Farm all had rates of less than $1,000 per year, while Farmers and Nationwide were less than $1,100 per year.

Company
Annual
Monthly
Cincinnati Insurance logo
Cincinnati$591$49
Allstate logo
Allstate$818$68
Erie logo
Erie$880$73
State Farm logo
State Farm$997$83
Farmers logo
Farmers$1,005$84
Nationwide logo
Nationwide$1,089$91
USAA logo
USAA$1,147$96
Westfield logo
Westfield$1,280$107
American Family logo
American Family$1,289$107
Farm Bureau logo
Farm Bureau$1,380$115
Grange logo
Grange$1,392$116
Travelers logo
Travelers$6,127$511

Best for most people: Cincinnati Financial

Cincinnati Financial is the most affordable option we found in Indiana and has highly rated customer service, too.
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Our top homeowners insurance choice for Indiana residents is Cincinnati Financial. At just $591 per year, it had the best price of any company we looked at — along with great customer service ratings. Its NAIC Complaint Index is 0.25, meaning it received far fewer complaints than a typical company of its size.

We also like that Cincinnati Financial has endorsements that allow you to customize your policy. For example, you can include coverage for golf carts, landscaping and water damage. Cincinnati Financial is exclusively available from independent insurance agents, which means you can't buy a Cincinnati Financial policy online.

Best for bundling: Allstate

Allstate's online tools are the best among the insurers we looked at, and their prices are affordable, too.
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Allstate had the second-best prices among the insurers we looked at in Indiana, with an average quote of $818 per year. And you can lower those rates even more, as our research shows Allstate customers can get more than 20% off by combining policies.

Allstate's car insurance prices are on the higher side. The company also provides several useful optional coverages, including business property, damage from drain backup or a sump pump breaking and increased limits for damage to your yard and garden.

Best for military families: USAA

Military-specific benefits make USAA worth looking at if you're on active duty.
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We recommend USAA for military members and their families. While its prices aren't the absolute best that we found in Indiana, the high level of customer service and military-specific benefits make it a strong choice for people in the armed forces.

USAA's average price in Indiana is $1,147 per year, which is $353 less expensive per year than the typical company. The company also offers a few perks for military members. For example, your personal property is covered even if you're in an active warzone, which most policies exempt from coverage. And the deductible is waived on claims involving your uniform.

Indiana homeowners insurance rates: City-by-city

The town of Granger has Indiana's lowest average home insurance rates, at $1,230 per year, while West Newton has the highest, at $1,905 per year.

Indianapolis, the state's largest city and capital has an average rate of $1,595 per year, which is 6% higher than the state average of $1,500 per year.

City
Average annual cost
Difference from state average (%)
Aberdeen$1,336-11%
Advance$1,80921%
Akron$1,4990%
Alamo$1,83022%
Albany$1,478-1%
Albion$1,361-9%
Alexandria$1,447-4%
Altona$1,310-13%
Ambia$1,5121%
Amboy$1,459-3%
Americus$1,343-10%
Amo$1,86324%
Show All Rows

The best-reviewed homeowners insurance companies in Indiana

USAA, Farm Bureau and Cincinnati Financial are the top-rated home insurance companies in Indiana, based on ValuePenguin's analysis.

These companies received strong marks from J.D. Power's customer satisfaction survey and from ValuePenguin's own editorial ratings. All three also received a low number of complaints relative to their size, according to the National Association of Insurance Commissioners (NAIC).

Company
Rating
Cincinnati
Farm Bureau
USAA
American Family
Erie
Grange
State Farm
Westfield
Farmers
Nationwide
Allstate
Travelers

Customer service is a crucial part of your experience with your home insurance. Fast and efficient claims will ease an already stressful situation.

Common homeowners insurance perils in Indiana

Indiana is located in the Midwest near the Great Lakes, so the most common forms of damage to homes usually involve winter storms and precipitation.

Is wind damage covered by homeowners insurance?

Wind damage is a common home insurance claim across the country, and fortunately, it's almost always covered. Wind is typically one of the named perils included in even the most basic homeowners policies.

Of course, it's best to avoid insurance claims if you can, so you can minimize the risk of wind damage by taking these precautions:

  • Remove branches hanging over your house.
  • Store away lawn furniture, especially if there may be a storm.
  • Get your roof inspected regularly.
  • Add storm shutters to your windows.

Is snow damage covered by homeowners insurance?

Indiana gets a fair amount of snowfall, which may cause damage when it piles up on your roof. Snow damage is a commonly named peril in a typical homeowners insurance policy, so homeowners insurance usually covers it.

However, your insurer may deny your claim if it determines the damage resulted from negligence. If your home is at a high risk of snow or ice damage, keep your roof free of excess snow and ice dams. That will help you avoid costly repairs.

Is flooding covered by homeowners insurance?

Although flood damage is common, homeowners insurance almost never covers it. It's usually a named exclusion from homeowners insurance policies.

Homeowners whose properties are at risk of flooding, such as those near Lake Michigan or the Ohio River, may want to consider buying flood insurance. Flood insurance covers damage to your home and personal property due to flooding.

You can purchase flood insurance policies either through the federally backed National Flood Insurance Program (NFIP) or through a private insurer. The NFIP can insure homeowners in high-risk areas, but these policies have lower coverage amounts. There's also a 90-day waiting period before the policy goes into effect.

Private policies generally have shorter waiting periods and more flexible coverage limits. However, homes at a very high risk of flooding may not be eligible for coverage.

Frequently asked questions

How much is homeowners insurance in Indiana?

The average price of homeowners insurance in Indiana is $1,500 per year.

How much is homeowners insurance in Indianapolis?

Home insurance in Indianapolis costs an average of $1,595 per year. That's 6% more than the state average. Among the five largest cities in the state, Indianapolis is the only one with above-average rates.

Who has the cheapest home insurance in Indiana?

Cincinnati Financial offers the cheapest homeowners insurance in Indiana, at a rate of $591 per year. That's 61% cheaper than the average rate in the state.

Methodology

We collected thousands of home insurance quotes from every ZIP code in Indiana. Our sample property is a 2,100-square-foot home built in 1974, with $141,700 of dwelling coverage — the state's median home value.

Home insurance companies surveyed:

  • Allstate
  • American Family
  • Cincinnati Financial
  • Erie
  • Farm Bureau
  • Farmers
  • Grange
  • Nationwide
  • State Farm
  • Travelers
  • USAA
  • Westfield

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

ValuePenguin's home insurance ratings combine complaint numbers from the NAIC, scores from J.D. Power's home insurance customer satisfaction survey and ValuePenguin's own editorial ratings.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.