Average homeowners insurance cost in Indianapolis, IN

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in Indianapolis is $3,232 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $650 more than the national average of $2,582.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Indianapolis depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Allstate is the cheapest homeowners insurance company in Indianapolis with an average annual premium of $3,232 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Indianapolis. Keep reading to learn about the monthly cost of homeowners insurance in Indianapolis, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Indianapolis.

Key takeaways

In Indianapolis, homeowners insurance costs $3,232 annually.
Allstate offers the most affordable homeowners insurance in Indianapolis with an average annual premium of $1,311.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $748 higher.

Average homeowners insurance cost in Indianapolis per month

Indianapolis homeowners pay an average of $269 a month, based on our rate analysis. It’s $22 more than the state average of $247 and $54 more than the national average for home insurance across the United States. The price of your homeowners insurance policy in Indianapolis may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Indianapolis

In Indianapolis, IN, homeowners pay an average of $2,484 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

Average homeowners insurance cost for a $300,000 house in Indianapolis

According to Insure.com’s rate analysis, homeowners in Indianapolis typically pay an average of $3,232 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $748. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Indianapolis by company

Among the carriers analyzed, Allstate is the most affordable homeowners insurance company in Indianapolis. It’s average annual rate for homeowners in Indianapolis is $1,311.

Indiana Farmers, ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $2,105.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Indianapolis and compiled a list of the most affordable home insurance companies.

Below are details of Indianapolis home insurance companies and their average annual premiums.

Home Insurance Company	Annual rate
Allstate	$1,311
Indiana Farmers	$1,712
State Farm	$2,105
American Family	$2,407
Erie Insurance	$2,471
Auto-Owners	$3,538
Farmers	$3,774
Indiana Farm Bureau Grp	$5,584
Travelers	$8,022
Nationwide	$2,882
USAA*	$2,623

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Indianapolis for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.