Indiana State is a great place to live in, fresh products, an active sports scene, farm to table restaurants, but it has unpredictable and extreme weather. Homeowners in Indiana may contend with severe summer storms, tornadoes, flooding, extreme cold, and heavy snow, so home insurance in Indiana is a necessity.
The Hoosier State offers its residents great homeowners insurance companies, among which Erie Insurance stands out for its exceptional customer service, below-average premiums, discounts and resources. After evaluating 15 of the biggest insurance providers in the state, we identified the top four companies for the best homeowners insurance in Indiana. Erie and Nationwide also made it to our national list of best cheap homeowners insurance, while Allstate is included in our take of the best homeowners insurance companies in the U.S.
The 4 Best Homeowners Insurance Companies in Indiana
- Erie Insurance: Best for Basic Coverage
- Allstate: Best for New Homebuyers
- Nationwide: Best for Discounts
- Cincinnati Insurance: Best Pricing Options
Compare Indiana’s Top Insurance Companies
| Company | Average Annual Premium* | AM Best Financial Strength | J.D. Power Overall Customer Satisfaction |
| Erie Insurance | $987 | A+ | 835/1,000 |
| Allstate | $1,096 | A++ | 829/1,000 |
| Nationwide | $1,138 | A+ | 812/1,000 |
| Cincinnati Insurance | $629 | A+ | N/A |
*Data provided by Bankrate.com for $250,000 in dwelling coverage.
Information as of September 2021
Erie Insurance
Erie has been in the insurance business for over 95 years. The company offers standard homeowners insurance and a variety of extras such as coverage for pets, expanded theft protection, guaranteed replacement cost among others. Erie is a good option to look at for homeowners in the 12 states they serve.
Best for Basic Coverage
Why we chose it
Why we chose it
Pros
- Thorough base policy
- Two options for flood insurance coverage
- Great customer satisfaction ratings
Cons
- No mobile app for home insurance
- Not many online capabilities
- Can’t file a claim online
Discounts available
- Multi-policy
- Advance quote discount
- Sprinkler system credit
Unique features
Erie offers one of the highest savings for multi-policy that could be found out there. The company advertises up to a 25% discount when you choose to bundle car and home insurance.
More information on ERIE Insurance:
Allstate
Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.
Best for New Homebuyers
Why we chose it
Why we chose it
Pros
- Diverse discount opportunities informative website and digital tools
- Above-average customer service
- Lots of discount and coverage options
Cons
- NAIC complaint index high
- Financial strength ratings good, but not great
Discounts available
- Early signing discount
- Home buyer discount
- Hail-resistant roof discount
Unique features
Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.
More information on Allstate:
Nationwide
Nationwide offers multiple discounts and a wide variety of coverage. Their primary homeowners’ policies include dwelling, personal property, personal liability and even credit card coverage. This provider’s premiums are usually on the higher end, but that can be attributed to the value of the coverage you’re getting.
Best for Discounts
Why we chose it
Why we chose it
Pros
- Brand New Belongings policy
- Wide range of discounts
- Variety of add-on coverage options
Cons
- Mobile app not geared toward homeowners insurance
Discounts available
- Home renovation credit
- Gated community discount
- Home purchase discount
Unique features
You can save money on your premium based on your roof’s age and surface type. If your belongings get damaged or stolen, the company will cover the full cost of repairing or replacing them.
More information on Nationwide:
- Nationwide Homeowners Insurance Review
- Nationwide Motorcycle Insurance Review
- Nationwide Life Insurance Review
Cincinnati Insurance Co.
Cincinnati Insurance is a writer of business and individual policies based in Ohio, though it has a strong presence in Indiana. It positions itself toward high-net-worth individuals, but it sells policies for homes of any value.
Best Pricing Options
Why we chose it
Why we chose it
Pros
- Good for high-value homes
- Homeowner Plus endorsement
- Good customer service
Cons
- Few discounts
- Lacks third-party ratings
Discounts available
- Home and auto bundle discount
- Home alarm discount
Unique features
- Home and auto bundle discount
- Home alarm discount
*Data provided by Bankrate.com for $250,000 in dwelling coverage.
**2021 J.D. Power U.S. Home Insurance Study. Based on a 1,000-point scale.
Average Cost of Homeowners Insurance in Indiana
Based on 2021 data from Bankrate.com, the average annual cost of home insurance in Indiana is $1,150 for $250,000 in dwelling coverage. In the United States, the national average cost of car insurance is $1,312 per year. However, home insurance premiums are highly individualized. When calculating your premium, the insurance company looks at your age, your credit score, your claims history, the city you live in, the condition of your home and more. Your premium can also be lowered by taking advantage of discounts. To understand better how to calculate your homeowners insurance cost take a look at our comprehensive guide.
Average Premium From Homeowners Insurance Companies in Indiana
| Home Insurance Company | Average Annual Premium* |
| Buckeye Ins Grp | $467 |
| Cincinnati Insurance | $629 |
| Westfield | $801 |
| Indiana Farmers | $803 |
| Grange | $852 |
| Pekin | $870 |
| American Family | $900 |
| USAA | $976 |
| Erie | $987 |
| Allstate | $1,096 |
| Travelers | $1,125 |
| Nationwide | $1,138 |
| Hastings Mutual | $1,269 |
| State Farm | $1,567 |
| Indiana Farm Bureau | $1,579 |
| Auto-Owners | $1,713 |
| Celina | $1,918 |
| Farmers | $2,168 |
Using 2021 Quadrant Information Services data from Bankrate.com, we analyzed home insurance companies in the United States and compared the best homeowners insurance Indiana has to offer. We found that the average premium for home insurance in Indiana is $1,150 per year for $250,000 in dwelling coverage. However, homeowners may be able to find cheap home insurance rates, like $467 a year with a minimum coverage policy from Buckeye Insurance Group.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits in the methodology are as follows:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
Top 3 Cheapest Homeowners Insurance Companies in Indiana
- Buckeye Insurance Group: $467
- Cincinnati Insurance: $629
- Westfield: $801
Top 3 Most Expensive Homeowners Insurance Companies in Indiana
- Farmers: $2,168
- Celina: $1,918
- Auto-Owners: $1,713
Indiana Home Insurance Considerations
Before you buy Indiana home insurance, it is important to consider special risks that can affect your Indiana home insurance. Indiana is home to extreme weather like tornadoes that can bring flooding to your doorstep. There are special Indiana home insurance add-ons that you can buy to provide better protection for your property. If your provider does not offer flood insurance, it is also available from the National Flood Insurance Program. Windstorm damages are also common in Indiana, but not all standard policies include this coverage so you may need to purchase additional protection.
Before you purchase home insurance, be sure to ask your insurance agent about what kind of coverage is best for your address.
Helpful Resources for Indiana Homeowners
The Indiana Department of Insurance offers resources for residents trying to choose the best insurance coverage for homeowners. You can find information about choosing the right policy, selecting a deductible, getting flood insurance and more. On the contrary, if you are about to buy a house in Indiana, the U.S. Department of Housing and Urban Development has relevant information about programs that might interest you.
You can check the Homeowners Protection Bureau official website for laws, regulations, and government agencies across The Hoosier State. Keep in mind that you can purchase homeowners insurance in Indiana at any point during the year.
Homeowners Insurance FAQ
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Customer Ratings: Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage: As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence: It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
- Customer Experience: The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
About the Authors
Lena Borrelli is a freelance writer for Reviews.com. Over the last year, she has covered insurance, finance, and more. She has been featured in TIME with NextAdvisor, Bankrate, The Simple Dollar, MYMOVE, Million Mile Secrets, Coverage.com and more. My favorite article is “How to Invest in Real Estate During COVID?” on Reviews.com.
