Best Indianapolis Homeowners Insurance Quotes (2025)
Allstate, American Family, and USAA offer the best homeowners insurance policies in Indianapolis.
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Written byDanny Smith
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Licensed auto and home insurance agent
4+ years in content creation and marketing
As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.
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Edited byKatie Powers
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Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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Table of contents
Table of contents
The average cost of home insurance in Indianapolis is $2,356 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. This is slightly less expensive than the national average of $2,584 for the same insurance policy but more expensive than the Indiana state average of $2,068.
Indianapolis has some susceptibility to flooding and, to a smaller degree, tornadoes. Both of these weather events can cause severe damage to homes, which may affect home insurance costs in the area.
Here’s what you should know about finding home insurance in Indianapolis.
Quick Facts
Indianapolis homeowners who select a policy with $300,000 in dwelling coverage and a lower deductible of $500 pay an average of $2,432 annually.
Allstate offers the cheapest home insurance in Indianapolis, with an average annual premium of just $839 for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
Indiana has an average of 22 tornadoes per year.[1] Standard home insurance policies typically include coverage for tornado damage.
Best home insurance companies in Indianapolis
Homeowners in Indianapolis have plenty of quality home insurance companies to choose from, with some offering rates below the citywide average. The best home insurance company for you depends on various factors, such as your budget, location, and coverage needs.
Start your search with three of the best companies in Indianapolis below.
Best company for homeowners on a budget: Allstate
AllstateCompare personalized, real-time quotes
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.2/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A- |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $64/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $85/mo |
Allstate is the best home insurance company for homeowners looking to save money on a policy. It has the cheapest average annual insurance rates in Indianapolis. The company offers numerous coverage options and discounts and has excellent financial strength ratings.
Pros
Cheapest insurance rates in Indianapolis
Can file claims online
Offers home-sharing coverage
Cons
Below-average ranking in the J.D. Power 2024 U.S. Home Insurance Study
Low Trustpilot rating
Can’t buy a policy online
Best company for water damage protection: American Family
water damage protection
American Family
Compare personalized, real-time quotes
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.6/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $96/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $137/mo |
American Family is the best home insurance company for Indianapolis homeowners looking for strong water damage coverage. It offers a few add-on coverages that protect against water damage, including flash flood, hidden water damage, and sewer backup coverage. If you live in a flood-prone area in Indianapolis, you should consider American Family.
Pros
Numerous coverages
Many insurance discounts available
High Trustpilot rating
Cons
Not the most affordable insurance rates
Slightly below-average ranking in the J.D. Power 2024 U.S. Home Insurance Study
Lower financial strength rating than some competitors
Best company for military members and their families: USAA
USAACompare personalized, real-time quotes
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8/10 |
|---|---|
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A++ |
| $300,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $130/mo |
| $500,000 Dwelling A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others. | $187/mo |
USAA is the best home insurance company in Indianapolis for active military members, veterans, and their qualifying family members. Replacement cost coverage is standard for USAA home insurance policies, which means homeowners won’t have to worry about depreciation. USAA is an excellent home insurance option for homeowners who qualify.
Pros
Exclusive coverages and perks
AM Best financial strength rating of A++ (Superior)
Can file claims online
Cons
Available only to military members and their families
No physical locations in Indianapolis
Not the most affordable insurance rates
Our editorial team analyzed regional and national home insurance companies that sell policies in Indianapolis to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
Cheapest home insurance companies in Indianapolis
Allstate is the cheapest home insurance company in Indianapolis, with an average annual insurance rate of $839 for a $300,000 dwelling policy with a $1,000 deductible. Compare the cheapest home insurance companies in Indianapolis below.
Insurance Company | Average Annual Premium |
|---|---|
| Allstate | $839 |
| Buckeye Insurance Group | $977 |
| American Family | $1,287 |
| Westfield | $1,419 |
| Cincinnati Insurance | $1,592 |
| ASI | $1,627 |
| Indiana Farmers Mutual | $1,709 |
| Erie | $1,731 |
| State Farm | $1,813 |
| USAA | $1,922 |
| Travelers | $2,029 |
| Farmers | $2,453 |
| Pekin Insurance | $2,572 |
| Wolverine Mutual | $2,767 |
| Nationwide | $3,029 |
| Foremost | $3,309 |
| Auto-Owners | $3,345 |
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How much is home insurance in Indianapolis?
The average cost of home insurance in Indianapolis for a policy with $300,000 in dwelling coverage is $2,356 per year for a $300,000 dwelling policy with a $1,000 deductible.
Numerous factors affect your home insurance premium. Your chosen coverage limits and your home’s age, location, and condition have some of the largest effects on your premium.
Cost of home insurance by dwelling coverage in Indiana
Your chosen dwelling coverage for your home will have a direct effect on how much your premiums cost. The higher your coverage level is, the higher your premiums will be, as your insurance company is on the hook for more damages.
Here’s how average home insurance rates in Indiana can vary based on your dwelling coverage amount.
Coverage Limit | Average Annual Premium |
|---|---|
| $100,000 | $1,085 |
| $200,000 | $1,574 |
| $300,000 | $2,068 |
| $400,000 | $2,574 |
| $500,000 | $3,143 |
Cost of homeowners insurance by deductible amount
Your home insurance deductible is the amount you’ll pay out of pocket before your home insurance company begins to contribute to the cost of damages in the event of a claim. Typically, the higher your deductible, the lower your home insurance premium, and vice versa.
Deductible Amount | Average Annual Premium |
|---|---|
| $500 | $2,432 |
| $1,000 | $2,356 |
Average cost of home insurance in other cities in Indiana
The average cost of home insurance varies by your location, so homeowners will pay different insurance rates for the same policies across different cities in Indiana. Home insurance rates can even vary by ZIP code within a city. For example, if you live in a very flood-prone part of Indianapolis, you’ll likely pay higher rates than average.
The table below highlights just how much premiums can vary by city.
City | Average Annual Premium |
|---|---|
| Bloomington | $2,008 |
| Carmel | $2,011 |
| Columbus | $2,068 |
| Crown Point | $1,949 |
| Evansville | $2,098 |
| Greenwood | $2,173 |
| Indianapolis | $2,356 |
| Jeffersonville | $2,197 |
| Lafayette | $1,850 |
| Michigan City | $1,968 |
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What to know about owning a home in Indianapolis
If you own a home in Indianapolis, you should be aware of a couple weather factors that can damage your home and affect the cost of home insurance:
Tornadoes
Indiana is prone to tornadoes, averaging 22 per year, and Indianapolis isn’t exempt from them. Tornadoes can do severe damage to homes, and home insurance companies consider this when setting premiums.
Floods
Indianapolis is also prone to flooding, with 30% of its buildings at risk of flood damage over the next 30 years, according to ClimateCheck.[2] Flooding can do major damage to a home, causing extensive problems to your home’s structural and electrical components.
Some home insurance companies offer flood insurance, but many don’t, as the damages can often be too expensive. If your home insurance doesn’t offer it, you can still buy flood insurance coverage through the National Flood Insurance Program (NFIP). This program offers flood insurance coverage to homeowners who wouldn’t otherwise be able to secure it.[3]
Indianapolis home insurance FAQs
If you’re searching for home insurance in Indianapolis, check out the additional information below as you compare policies and coverage options.
The average monthly cost of home insurance in Indianapolis is $203 per month for a $300,000 dwelling policy with a $500 deductible. That works out to $2,432 per year. The average annual cost of a policy with $300,000 in dwelling coverage and a $1,000 deductible is $2,356.
If you live in an area prone to flooding, your mortgage lender may require you to carry flood insurance, which can increase insurance rates. You can purchase flood insurance through the NFIP or some home insurers.[4]
Allstate has the cheapest home insurance in Indianapolis, with an average annual insurance rate of $839 for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
The 80% rule, also known as the 80/20 rule, is a home insurance industry standard that states that you should insure your home for at least 80% of its replacement cost.
The best home insurance in Indianapolis depends on various factors, including your home’s age, its location, and what kind of coverage you need. That said, Allstate, American Family, and USAA stand out as some of the best home insurance companies in the city. Allstate has the cheapest insurance rates, American Family offers strong flood protection, and USAA is an excellent option for veterans.
A home insurance policy with $500,000 in dwelling coverage and a $1,000 deductible in Indiana costs an average of $3,143 per year. The more dwelling coverage you have, the more your home insurance company is on the hook for. To account for this increased liability, home insurance companies charge higher insurance rates.
Methodology
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
- Dwelling coverage: $300,000
- Deductible: $1,000
- Personal property limit: $25,000
- Liability limit: $300,000
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
Sources
- National Weather Service. "https://www.weather.gov/ind/tornadostats."
- ClimateChecl. "Climate Change Hazard Ratings for Indianapolis, IN."
- FEMA. "Flood Insurance."
- State of Indiana. "Indiana Flood Insurance."
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Danny Smith
Danny is a Brooklyn-based writer with a producer’s license for property and casualty insurance. A former editor at Insurify, he specializes in auto, home, and pet insurance. He works to translate his insurance expertise into digestible, easy-to-understand content for drivers, homeowners, and pet owners alike.
Danny has been a contributor at Insurify since March 2022.
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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