Erie has the cheapest home insurance rates in Indiana, with an average rate of $104 a month. Allstate has the next most affordable premium at $107 a month. USAA comes in third at $95 a month.
While the cheapest home insurers in Indiana have rates lower than both state and national averages, it's still in your best interest to compare providers to get the best coverage for your home at the cheapest price. This guide can help you compare Indiana's best home insurance options.
In this article
Cheapest home insurance companies in Indiana
Erie is Indiana's cheapest homeowners insurance provider, with an average monthly rate of $104. It's followed by Allstate, at $107 a month, and USAA, at $126 a month.
| Company | Monthly rate |
|---|---|
| Erie | $104 |
| Allstate | $107 |
| USAA | $126 |
| Farm Bureau | $141 |
| Nationwide | $156 |
| State Farm | $157 |
| American Family | $184 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
It's important to note that USAA only sells home insurance to current and former military members and their families. If you're not in those categories, Erie and Allstate may be your best choices for home insurance.
How much is homeowners insurance in Indiana?
Indiana has an average home insurance rate of $139 a month, 5% cheaper than the average national homeowners insurance rate of $146 a month.
There are multiple factors involved in calculating your home insurance quote, including:
- The age of your home
- Construction materials used
- Your ZIP code
- Your personal insurance history
A major reason for the difference in policy cost between home insurance companies is that each provider weighs these and other factors involved differently. For example, the age of your home may be a bigger price factor with one provider than another. Because of this, you should compare quotes from multiple insurers to make sure you get the best home insurance deal.
Compare quotes from Indiana's cheapest home insurance companies
Your home insurance policy deductible affects your final rate as well. The higher your deductible, the lower your premium.
Best home insurance companies in Indiana
We found that Erie, Allstate and USAA are Indiana's best choices for home insurance. Here's why:
Erie: Cheapest price and best bundling discount
Erie's average homeowners insurance premium in Indiana is $104 a month, coming in lower than the state average rate. However, with the company's bundling discount you can save even more. If you bundle your home insurance with a life or auto insurance policy through Erie, you can save between 16% and 25% on your total insurance costs. That's a higher bundling discount than many home insurers offer.
Allstate: Best customer service
On top of a low average home insurance rate of $107 a month in Indiana, Allstate also maintains excellent customer service standards. It has a rating of 0.76 on the NAIC Complaint Index. The index compares different insurer's ability to resolve claims issues, such as payout and resolution time. The National Complaint Index is 1.0. The lower the index value, the better.
USAA: Best for currently-serving and veteran military
USAA is the third most affordable home insurance company in Indiana, with an average premium of $126 a month. USAA is often considered the best of the best among insurance providers. It also sets the standard for customer satisfaction. In J.D. Power's 2021 U.S. Property Claims Satisfaction Study, USAA received a score of 893 out of 1,000.
USAA isn't ranked in J.D. Power's study because it only offers insurance to military personnel and veterans, as well as their families. If it was, they'd be at the top ranking in the study. If you are or have been in the military, USAA is worth considering, thanks to its excellent reputation and rates.
Cheapest home insurance in Indiana by city and county
Fort Wayne has the cheapest average home insurance rate among Indiana's largest cities, at $88 a month with Erie. Carmel and Hammond share second place, with average rates of $89 a month through Erie. Lafayette and South Bend are in third, with both offering average rates of $92 a month through Erie.
| City | Allstate | Erie | USAA |
|---|---|---|---|
| Bloomington | $110 | $103 | $129 |
| Carmel | $119 | $89 | $121 |
| Evansville | $107 | $98 | $145 |
| Fishers | $114 | $102 | $119 |
| Fort Wayne | $101 | $88 | $117 |
| Gary | $124 | $96 | $137 |
| Hammond | $120 | $89 | $128 |
| Indianapolis | $123 | $115 | $134 |
| Lafayette | $106 | $92 | $125 |
| South Bend | $99 | $92 | $126 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |||
Elkhart County has the lowest home insurance rate among Indiana's largest counties, with an average premium of $77 a month from Erie. Porter County has the second-cheapest, also with Erie, at $86 a month. Allen, Lake and St. Joseph Counties share third place, at $87 a month with Erie.
| County | Allstate | Erie | USAA |
|---|---|---|---|
| Allen | $102 | $87 | $115 |
| Elkhart | $95 | $77 | $114 |
| Hamilton | $114 | $99 | $124 |
| Hendricks | $109 | $123 | $131 |
| Lake | $119 | $87 | $128 |
| Marion | $123 | $116 | $135 |
| Porter | $107 | $86 | $124 |
| St. Joseph | $98 | $87 | $120 |
| Tippecanoe | $106 | $94 | $122 |
| Vanderburgh | $107 | $99 | $140 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |||
Methodology
We collected quotes from every ZIP code in Indiana from the following home insurance companies:
- Allstate
- American Family
- Erie
- Farm Bureau
- Nationwide
- State Farm
- USAA
Average rates for a standard HO-3 homeowners insurance policy we calculated using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
Car insurance by city
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