Indiana homeowners insurance

Indiana Homeowners Insurance

Intro

Indiana Homeowners Insurance: Average Cost for home owners (by city)

The cost for home insurance varies depending upon the area you live in, and surrounding areas. If you live in an area that is prone to wildfires, or has a high brush score, you will likely see higher insurance prices, or may be denied coverage because the risk is too great for an insurance company. If you are denied coverage, keep searching for a company that will ensure your home, because home insurance is very important to have. When you purchase your first home, that is one of the greatest purchases you will make, so you want to make sure it is properly covered in the event of a total loss, or claim.

The amount of theft claims in an area is also a determining factor when assessing a risk and calculating insurance premiums. Insured’s who live in an area that has a higher crime rate, will likely see higher insurance prices because of that fact. If you are searching for a home to purchase, consider looking into the crime rate to optimize your potential savings on your home insurance. Other factors that help determine the premium is the age and condition of the roof. Most roofs last on average 20 years, so if a roof is at the end of its lifeline, the insurance cost will be higher than for a home where the roof was recently replaced. Questions about what other factors affect your home insurance premium? Check the chart below for the main rating factors. 

CityPrice
Leavenworth$1,316.00
Merriam$1,336.00
Russell$1,336.00
Park City$1,223.00
Newton$1,353.00
Goddard$1,189.00
Wellington$1,197.00
Wamego$1,322.00
Ottawa$1,285.00
Coffeyville$1,119.00
El Dorado$1,275.00
Shawnee$1,147.00
Junction City$1,133.00
Bel Aire$1,226.00
Baxter Springs$1,420.00
Paola$1,182.00
Tonganoxie$1,360.00
Wichita$1,331.00
Kansas City$1,406.00
Baldwin City$1,289.00
Parsons$1,128.00
Chanute$1,404.00
Bonner Springs$1,345.00
Winfield$1,413.00
Lenexa$1,228.00
Lawrence$1,391.00
Gardner$1,104.00
Garden City$1,379.00
Great Bend$1,218.00
Concordia$1,272.00
Edwardsville$1,301.00
Leawood$1,179.00
Pittsburg$1,386.00
Augusta$1,287.00
Maize$1,132.00
Topeka$1,264.00
Liberal$1,109.00
Mulvane$1,288.00
Arkansas City$1,337.00

Indiana Homeowners Insurance: Discount Opportunities

Discounts are available for your home insurance policy, to help keep your premium affordable. One of the biggest discounts that can be applied is a bundle discount. Whether you have auto insurance, motorcycle, RV, ATV, Umbrella, business, etc, you can bundle all these policies together with one insurance company for great savings! On average, customers can save 25% on their home insurance premium by bundling.  Some safety feature discounts include fire protection, smoke alarm, automatic water shutoff sensors, deadbolt, and many more. If your home does not have these protection devices, you can install them for a small cost, which will lead to big savings on your home insurance premium.

Homeowners who live in a secured subdivision, manned by either armed security or security cameras will receive a big discount. Certain characteristics of the home will save you money instantly, such as the age of the home, new home construction, advanced purchase, and type of construction. Many of these discounts are applied automatically when inputting the home’s address and information. If you are not sure which discounts you have on your home policy, give the company a call to inquire, and see if there may be any other discounts available to you for additional savings. 

1Non-smoking discount
2Upgraded plumbing
3Hail resistant roofing
4Gated comunity
5Upgraded roof
6Smoke detector (monitored)
7Upgraded Wiring
8Auto water shut off or leak detection
9Married discount
10EFT
11Paid in full
12Claims Free

Indiana Homeowners Insurance: What does Your Policy Cover?

Home Insurance is customizable, meaning many insurance companies offer additional endorsements you can add on for extra coverages. All Insurance companies vary, so if you are looking for a specific coverage, it’s best to ask your insurance agent if they have a coverage similar to offer when you are comparing home insurance quotes. Many companies offer a basic/standard package that just covers the basics, and then they offer an advanced package with greater coverages.

All standard home insurance policies will cover the dwelling, meaning if your home were to completely burn down, this will cover the cost to rebuild the home, minus the land. Policies also cover other structures, such as a detached garage, shed, outbuilding, etc. Personal liability is also covered, this will protect you for anything you may be liable, such as a guest getting hurt on your property. Your home insurance policy will also cover a set amount, or percentage of your personal property. This is typically a percentage of your dwelling coverage, but can be altered for greater coverage. This will cover your personal belongings in the event of a theft claim, water damage, etc.

Most home insurance companies have exclusions for certain pet breeds, trampoline, and unfenced pool on property. If you have one of the following, check with your provider to see if they have additional coverages you can add on your policy.

Indiana Homeowners Insurance: Best Rates by Company

Since each home insurance companies differs on coverages available, and rating factors used to determine the premium, all companies will differ in prices. If you are currently insured, and unhappy with the coverage you have, or the price you pay, consider shopping around to find a better price. If you have a current home insurance policy, it still never hurts to check around for better prices, because prices are always changing. You may have gotten the best rate possible at one time, but it could always change with another company. Below is a list of the major insurance companies in the area, with their average cost for home insurance. Of course, premiums are subject to change based on your exact location, and home characteristics.

(Certain companies may not be available in your state)

CompanyHome Owners ($250,000)
MetLife Inc.$1,343
Travelers Companies Inc.$1,457
Hartford Financial Services$1,311
Allstate$1,467
American International$1,350
State Farm$1,261
Chubb$1,348
Farmers Insurance Group$1,438
American Family Insurance$1,484
Liberty Mutual$1,462
Nationwide Mutual$1,325
Progressive$1,360
Auto-Owners Insurance$1,475
Erie Insurance$1,337
USAA$1,413

Indiana Homeowners Insurance: Laws You Need to Know

While many States do require homeowners to carry home insurance, Indiana does not require it by law. However, if you are financing a home, most cases the lender will ask for proof of home insurance before you are able to close on a home. If you let your home insurance cancel or lapse, finding coverage for your home in the future may prove to be a challenge. Most insurance companies will not insure a home that has not had continuous coverage, or it may be very expensive to insure with a lapse in coverage.

Indiana Homeowners Insurance: Most Common Causes for Loss and Claims

Below is a list of the most common causes for loss and claims for homeowners in Indiana. Loss of use will help pay for living expenses if a covered event makes your home temporarily unlivable. For example, you have covered water damage in the home, and you are unable to stay in the home while it is being repaired. Loss of use will cover you for a place to live, with additional expenses such as food up to what you typically spend.

Injuries is a common loss/claim made on homeowners insurance policies in Indiana. This may include if a guest, who is not a regular resident of the property, gets hurt on your property while visiting. Luckily, vandalism is one of the lowest claims reported in Indiana, so many home owners do not have to worry about their property being vandalized.

1Loss of Use
2Injuries
3Other Weather related
4Fire
5Power surge
6Theft
7Lightning
8Water Damage
9Hail
10Vandalism
11Wind

Indiana Homeowners Insurance: Best Insurance Companies

When searching for the right home insurance company, while price is important, the overall rating of a company is just as important. In the event of a major claim, or instance, you want to know that you are covered, and your insurance provider has your back. The worst thing that could happen is for a claim to not be paid out, or for our customer to experience bad customer service on the insurance companies side.

When shopping for insurance, consider looking up the top contenders on AMs Best. This is a website which rates insurance companies on all aspects, such as their customer service, their claims process and the amount of time it takes to pay out a claim on average, and overall service. Companies with a high rating, such as A++, are considered the best of the best when it comes to service and overall satisfaction. If an Insurance company with a high rating is a little more expensive than another, it is still something to be considered when choosing the best company for you.

(Certain companies may not be available in your state)

CompanyAM Best
TravelersA++
ChubbA
American InternationalA-
NationwideA
ProgressiveA+
AllstateA+
MetLifeA-
Auto-Owners InsuranceA
Farmers InsuranceA
American FamilyA
Liberty MutualA
USAAA++
State FarmA++
Hartford FinancialA+

Indiana Homeowners Insurance: Frequently Asked Questions

Georgia Homeowners Insurance

Who sells homeowners insurance in Indiana?

Just to name a few- Allstate, State Farm, Farmers, Nationwide, USAA, American Family, Travelers, and Progressive are considered some of the cheapest, and most reputable companies out there.

How much does homeowners insurance cost in Indiana?

Indiana homeowners insurance average annual premium is about $1,000. This is just below the national average of $1,211 annually.

How long does an insurance company have to pay a claim in Indiana?

Homeowners insurance providers in Indiana do not have a set time limit to meet to pay out claims. Every state will have different laws and/or stipulations.

Indiana Homeowners Insurance: Need Homeowners In Another State?

Do You Need Flood Insurance?

Insurance varies greatly from state to state. Click on your state to find out more specifics about homeowners insurance.

AL AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

Or If You’re Ready…

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Last Updated on May 17, 2022 by Lauren Mckenzie