With an Indiana home insurance policy, you can get coverage for your home and personal belongings, in addition to protection against liability claims. While you may never need to use your policy, having this type of insurance provides peace of mind that you won’t have to bear the burden of home repairs or expensive costs on your own.
Read on to learn how to find the best homeowners insurance policy in Indiana.
For free quotes from providers in your area, call 855-948-5219 or enter your zip code in the tool below:
Indiana’s Top 3 Home Insurance Companies
Here are the top providers of home insurance in Indiana:
Liberty Mutual: Best Discounts
- J.D. Power Rating: 805/1000
- AM Best Rating: A
Liberty Mutual typically offers a plethora of homeowner discounts to help keep policy costs affordable. Some discounts include ones for being claims-free, having a new roof, and signing up for paperless billing.
As a Liberty Mutual customer, you’ll also receive the following benefits:
- Claims center open 24/7
- Six endorsement options to customize your policy
- A company with over 100 years of experience in the insurance industry
Get Quote: Liberty Mutual Home Insurance Quote
Learn More: Liberty Mutual Home Insurance Review
*AM Best ratings accurate as of August 2023
Travelers: Most Experience
Travelers has two unique features—affordability and experience. Not only does Travelers have more than 160 years of industry experience providing insurance products and services, but it also provides the cheapest homeowners insurance out of the providers in this review. For less than $100 per month, you can customize your dwelling, other structures, personal property, loss of use, personal liability, and medical payments coverage.
Take a look at Travelers’ other benefits:
- Up to 100% of dwelling for other structures, personal property, and loss of use coverage
- Agents are available in all 50 states and Washington, D.C.
- Unique discount for having a certified “green home” from the Leadership in Energy and Environment Design program
Get Quote: Travelers Home Insurance Quote
Learn More: Travelers Home Insurance Review
Farmers: Most Customizable Coverage
- J.D. Power Rating: 792/1000
- AM Best Rating: A
While Farmers homeowners insurance is often more expensive than Liberty Mutual and Travelers, customers can fully customize their policy. You can get up to 200% of dwelling for other structures and personal property coverage, up to 30% of dwelling for loss of use coverage, and up to $2 million for liability coverage, along with a variety of endorsements.
Other Farmers benefits include:
- Endorsement that allows you to use eco-friendly products to rebuild your home
- Deductible split up by peril
- Choice of 80%, 85%, 90%, 95%, or 100% of rebuilding cost for dwelling coverage
Get Quote: Farmers Home Insurance Quote
Learn More: Farmers Home Insurance Review
Indiana Homeowners Insurance Coverage
In general, a home insurance policy includes six parts:
- Dwelling—This part of the policy covers built-in elements of your home, like the cabinets, electrical system, and walls. If an event destroys your home and you have to rebuild it, this part of your policy will pay for the costs.
- Other structures—Detached structures on your property, like a fence or shed, are covered under this part of your policy. You usually get 10% of dwelling coverage for this type of coverage.
- Personal property—This part of the policy protects your personal belongings and covers them when they’re in your home or when they’re in your car. If your items are damaged or destroyed, you can file a claim to have them replaced. Personal property coverage is usually at least 50% of dwelling coverage.
- Additional living expenses—If your home requires repairs following a covered event, and you have to live elsewhere during that time, your policy will pay for living expenses, like the cost of a hotel room and meals. This is usually 20% of dwelling coverage.
- Personal liability—Your provider will pay for liability claims if you’re responsible for causing bodily injury or property damage to another person. Personal liability coverage will also cover legal fees if you’re sued. We recommend purchasing at least $300,000 of this type of protection.
- Medical payments to others—Your policy will cover medical bills if a guest is injured in your home. The standard for this type of coverage is $1,000 per person.
How Much Does a Home Insurance Policy Cost in Indiana?
In 2017, the average cost of homeowners insurance in Indiana was a little over $83 per month, according to the Insurance Information Institute. When ranked from most expensive to least expensive by the Insurance Information Institute, a resource that helps people make educated decisions, manage risk, and appreciate the essential value of insurance, Indiana ranked 33 out of 50, placing it on the more affordable end of the list.
Factors to Consider Before Buying Homeowners Insurance
Here are some factors to consider before you sign up for a home insurance policy:
- Tornadoes and other weather-related events—Tornadoes can cause wind and structural damage to Indiana homes. Most insurance policies cover wind damage, but read the fine print of your policy to ensure this coverage is available.
- Liability coverage for your assets—Consider purchasing enough liability protection to cover the cost of your home and all of your assets, including your vehicles, second homes, and businesses. If the value of your assets surpasses the liability coverage available from your home insurance provider, you can purchase an umbrella policy that kicks in after the liability coverage in your base policy is maxed out.
- Property features—If your home is older, needs a new roof, is more than five miles away from a fire station, or doesn’t have safety features, your premium will be higher.
- Quote comparison—When shopping for an insurance policy, get quotes from at least three different companies. This allows you to compare coverage and cost options and make an informed decision.
Comparing the Top Providers of Home Insurance in Indiana
Which is the Best Homeowners Insurance in Indiana for You?
Tailor your homeowners insurance policy to your home’s needs with customizable coverage and endorsements from Farmers, Liberty Mutual, and Travelers. To get free quotes from all three companies, call 855-948-5219 or type in your zip code below to compare quotes from all three companies:
FAQs About Homeowners Insurance in Indiana
Our Rating Methodology
The This Old House Reviews Team is committed to providing comprehensive and unbiased reviews to our readers. This means earning your trust through transparency and having the data to back up our ratings and recommendations.
With that in mind, we created an objective rating system to score each home insurance company. Here’s what that review process looked like:
- We analyze the information on each company’s website. This allows us to determine what products and services are offered by each home insurance provider.
- We get a sample quote from the companies by either talking to a sales representative or by using the online quote tool. This tells us what a policy looks like and costs.
- We test customer service by talking to a company representative, finding out their hours of operation, and determining what technological features are available for customers.
- We update all of this information on a continuous basis, storing it in a proprietary database that allows us to compare dozens of home insurance companies against each other.
With this data, we created a rating methodology to score each home insurance company. Our rating system is a weighted, 100-point scale based on the following factors:
- Coverage (30): We rated home insurance companies higher if they offered the six main types of homeowner protection—dwelling, other structures, personal property, loss of use, liability, and medical payments to others coverage.
- State availability (7.5): Companies scored higher if they covered more states than their competitors.
- Customer service (15): This factor is based on our communications with the company representatives, as well as the companies’ claims and quotes processes, availability throughout the week, and customer service information found on their websites.
- Technology (12.5): Technology can increase the efficiency of filing and tracking home insurance claims. Companies scored higher if they had technology options like mobile apps and online chat functions.
- Reputation (20): We gauged trustworthiness based on years of experience and Better Business Bureau ratings.
- Additional benefits (15): Companies that offered optional features, like discounts and endorsements, scored higher than competitors that didn’t.
The This Old House Reviews Team has a full-time researcher who collects and regularly updates data points from every company to help us compare them on key factors such as coverage, service, and dependability.
To share feedback or ask a question about this article, send a note to our Reviews Team at email@example.com.
AM Best Disclaimer