Best Home Insurance in Indianapolis, Indiana

Erie offers the cheapest home insurance in Indianapolis, $115 a month, but Allstate and USAA are not far behind.

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Erie Insurance offers the cheapest home insurance in Indianapolis, with rates averaging $115 a month. While price is important, your insurance company also has to provide coverage that matches your needs and responsive customer service, especially if you have to file a claim. Our guide to the best home insurance companies in Indianapolis is designed to help you find the right coverage at the right price.

In this article

Average cost of homeowners insurance in Indianapolis

Our analysis of home insurance quotes for a typical house in all of the city’s ZIP codes shows that the average cost of homeowners insurance in Indianapolis is $1,839 a year, or $153 a month.

The price of home insurance in Indianapolis is about 10% more than Indiana’s statewide average of $139 a month and 5% higher than the national average.

Indianapolis home insurance rate comparisons
Location Monthly rate
Indiana $139
National average $146
Indianapolis $153
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

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Cheapest home insurance companies in Indianapolis

Erie offers the cheapest home insurance in Indianapolis, charging an average of $115 a month for a typical house.

The next-best rates are available from Allstate, $123 a month, and USAA, $134 a month. USAA is only available to current and former members of the military and their families.

Indianapolis home insurance rates
Company Monthly rate
Erie $115
Allstate $123
USAA $134
State Farm $153
City average $153
Nationwide $161
Indiana Farm Bureau $182
American Family $203
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Insurance companies evaluate several factors to determine your rate, including:

  • The age, location and construction style of your home
  • The estimated cost of replacing your home, in the event of a total loss
  • Any safety and security features you may have
  • Your insurance claims and credit history
  • Any discounts you may qualify to receive

Since each company places different weights on these factors and offers different discounts, you may qualify for a significantly lower rate with one company than you do with others. This is why it’s best to compare quotes from multiple companies when you shop.

Indianapolis’ best insurance companies

Erie and USAA have the best customer service ratings among Indianapolis’ home insurance companies. Erie is also best for saving money, while Allstate offers the best policy features.

Best customer service: USAA and Erie

Among the companies in our analysis, USAA has the best customer satisfaction score from J.D. Power, while Erie has the best complaint rating from the National Association of Insurance Commissioners (NAIC).

Based on a 1,000-point scale, J.D. Power’s overall customer satisfaction index ranking is based on customer surveys rating insurance companies on interaction, policy offerings, price, billing process, policy information and claims.

USAA’s score of 854 beats every other insurance company in the study. The next-best scores among those in our analysis belong to Erie and State Farm, both at 835.

Insurance company satisfaction scores
Company Satisfaction index ranking
USAA 882
Erie 835
State Farm 835
American Family 831
Allstate 829
Segment average 825
Nationwide 812
Indiana Farm Bureau Not included in study
Source: J.D. Power 2021 U.S. Home Insurance Study

The NAIC’s Complaint Index compares insurance companies by confirmed complaints, which are complaints that lead to a finding of fault. The national Complaint Index is 1.0. A company with a 2.0 Complaint Index has twice as many complaints as expected for its size. A company with a 0.5 rating has half as many.

Erie’s Complaint Index of 0.09 is the lowest, or best, among the companies in our analysis. American Family has the next-best rating, 0.12.

Complaint Index rankings for Indianapolis home insurance companies
Company Complaint Index
Erie 0.09
American Family 0.12
Indiana Farm Bureau 0.2
USAA 0.2
Nationwide 0.28
State Farm 0.32
Allstate 0.35
National Complaint Index 1.0
Source: National Association of Insurance Commissioners, 2021 data

Best for saving money: Erie

In addition to great customer service ratings, Erie also helps you save money with low rates. Unlike some low-cost providers, Erie does not skimp on coverage. Its policy features include guaranteed replacement coverage for your home, which covers the entire cost of rebuilding your home after a total loss, including costs that exceed your policy’s limit.

Erie’s high satisfaction score and low Complaint Index demonstrate its ability to meet its customers’ expectations. The company’s A+ (Superior) Financial Strength Rating from AM Best reflects financial stability.

Best policy features: Allstate

Allstate offers an array of optional coverages that allow you to tailor your coverage to your specific needs, as well as policy features that can help you save money in the future.

Along with standard endorsements such as coverage for sewer and drain backups and identity-theft restoration, Allstate offers a “green improvement” rider. The latter pays to repair damage to your home with more energy-efficient replacement materials.

If you avoid claims, you may qualify for a Claim-Free Rewards discount on future premiums and have your deductible reduced at no extra charge when you renew. If you do have to file a claim, Allstate’s Claim Rateguard protects you from a future rate increase.

Compare home insurance quotes from top companies

Flood insurance in Indianapolis

Homeowners insurance typically covers most natural disasters that can occur in Indianapolis, including thunderstorms and tornadoes, but home insurance generally excludes damage from floods. Instead, you have to purchase separate insurance to cover flood damage.

Though not required by law, flood insurance is normally required for a mortgage on a home in a high-risk flood zone. It’s also available on an optional basis if you don’t have a mortgage and/or your home is in a low- or moderate-risk area.

If you’re not sure of your home’s flood risk, you can look it up online in the Flood Map Service Center on the Federal Emergency Management Agency (FEMA) website. FEMA maps the flood risks in communities across the country.

Most flood insurance is purchased through the FEMA-managed National Flood Insurance Program (NFIP), but several companies offer private flood insurance in Indianapolis.

The average price of NFIP insurance in Indianapolis is $1,231 a year, or $103 a month.

Numerous insurance agents throughout Indianapolis are authorized to sell NFIP flood insurance. You can search for authorized agents near you on FEMA’s flood insurance provider directory.

The availability of private flood insurance varies by agency. When shopping for flood insurance, make sure your agent is licensed by the Indiana Department of Insurance. You can verify an agent’s license status online.

Frequently asked questions about Indianapolis home insurance

How much is homeowners insurance in Indianapolis?

The average price of homeowners insurance in Indianapolis is $1,839 a year, or $153 a month, based on the cost of a standard policy for a typical house.

Is homeowners insurance required in Indiana?

Homeowners insurance is not required by state law in Indiana, but lenders typically require it for a mortgage or other loans secured by your home.

Does home insurance in Indianapolis cover tornadoes?

Homeowners insurance covers damage from extreme wind, including tornadoes. Floods, earthquakes and sinkholes are typically excluded, but you can buy separate coverages for these perils.


We obtained quotes for a standard HO-3 homeowners insurance policy on a typical home in every ZIP code in Indianapolis. Unless otherwise noted, standard policies include the following limits and deductibles:

  • Dwelling coverage: $275,000
  • Other structures: $27,500
  • Personal property: $137,500
  • Loss of use: $55,000
  • Liability: $100,000
  • Medical payments: $5,000


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