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The Best Homeowners Insurance Companies in Indiana

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    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 are on edge with potential natural hazards such as ice storms, tornados, earthquakes and flooding year-round, 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

    Compare Indiana’s Top Insurance Companies

    CompanyAverage PriceAM Best Financial StrengthJ.D. Power Overall Customer Satisfaction
    Erie Insurance$1,141A+839/1,000
    Allstate$1,470A++829/1,000
    Nationwide$1,395A+808/1,000
    Cincinnati Insurance$927A+N/A

    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.

    Erie Insurance

    Best for Base Policy

    Why we chose it

    Erie offers thorough base policies for their insurers at affordable rates. The provider includes replacement cost coverage in its standard home policies and offers additional discounts to lower your policy even more. Erie’s reputation is backed by its excellent customer satisfaction ratings and a solid financial record.
    • 4.25 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 839* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Erie offers thorough base policies for their insurers at affordable rates. The provider includes replacement cost coverage in its standard home policies and offers additional discounts to lower your policy even more. Erie’s reputation is backed by its excellent customer satisfaction ratings and a solid financial record.

    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
    Read More

    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.

    *J.D. Power 2020 U.S Home Insurance Study, based on a 1,000-point scale.

    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.

    Allstate

    Best for New Homebuyers

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.
    • 4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.

    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
    Read More

    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.

    *J.D. Power 2020 U.S Home Insurance Study, based on a 1,000-point scale.

    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.

    Nationwide

    Best for Discounts

    Why we chose it

    Nationwide insurance is popular among homeowners across the country. The provider is worth considering if you are looking for extensive coverage for your home and your belongings. Nationwide is a good option for homeowners who plan to renovate their property and for newly purchased homes.
    • 3.75 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 808* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Nationwide insurance is popular among homeowners across the country. The provider is worth considering if you are looking for extensive coverage for your home and your belongings. Nationwide is a good option for homeowners who plan to renovate their property and for newly purchased homes.

    Pros

    • Brand New Belongings policy
    • Wide range of discounts
    • Variety of add-on coverage options

    Cons

    • Mobile app not geared toward homeowners insurance
    Read More

    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.

    *J.D. Power 2020 U.S Home Insurance Study, based on a 1,000-point scale.

    More information on Nationwide:

    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.

    Cincinnati Insurance

    Best Pricing Options

    Why we chose it

    We liked the Executive Homeowner Plus endorsement, which allows you to add padding to your coverage, such as replacement cost on personal property, with no deduction for depreciation, replacement for damaged trees and plants, and even coverage for the contents of your freezer after a power failure.
    • N/A** Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • N/R BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    We liked the Executive Homeowner Plus endorsement, which allows you to add padding to your coverage, such as replacement cost on personal property, with no deduction for depreciation, replacement for damaged trees and plants, and even coverage for the contents of your freezer after a power failure.

    Pros

    • Good for high-value homes
    • Homeowner Plus endorsement
    • Good customer service

    Cons

    • Few discounts
    • Lacks third-party ratings
    Read More

    Discounts available

    • Home and auto bundle discount
    • Home alarm discount

    Unique features

    • Home and auto bundle discount
    • Home alarm discount

    **Some regional insurance providers don’t have enough third party ratings to calculate a score.

    Average Cost of Homeowners Insurance in Indiana

    The average annual cost of home insurance in Indiana is $2,043. In the United States, the national average cost of car insurance is $1,348 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

    Allstate $1,470 
    American Family $1,590 
    Auto-Owners $2,087 
    Buckeye Ins Grp $542 
    Celina $1,818 
    Cincinnati Insurance $927 
    Erie $1,141 
    Farmers $2,357 
    Grange $1,221 
    Hastings Mutual $1,397 
    Indiana Farm Bureau $2,242 
    Indiana Farmers $851 
    Nationwide $1,395 
    Pekin $1,268 
    State Farm $1,709 
    Travelers $1,488 
    USAA $1,459 
    Westfield $2,016 
    Allstate $1,470 

    Cost of Homeowners Insurance by Age of Home 

    Age of Home (years)Sample Annual Premium
    5 years$978
    20 years$1,363
    35 years$1,397
    50 years$1,394
    Average Annual Premium Across Ages$2,043

    Using Quadrant Information Services data from Coverage.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 $2,043 per year. However, homeowners may be able to find cheap home insurance rates, like $542 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: $200,000
    • Coverage B, Other Structures: $0
    • Coverage C, Personal Property: $100,000
    • Coverage D, Loss of Use: $40,000
    • Coverage E, Liability: $250,000
    • Coverage F, Medical Payments: $1,500

    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: $524
    • Indiana Farmers: $851
    • Cincinnati Insurance: $927

    Top 3 Most Expensive Homeowners Insurance Companies in Indiana\

    • Famers $2,357
    • Indiana Farm Bureau: $2,242
    • Auto-Owners: $2,087

    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 customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies across the board, we then calculated a Reviews.com score based on the following:

    • 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.

    About the Authors

    Lena Borrelli

    Lena Borrelli Contributing Writer

    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.

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