Richmond Insurance Rates:

Richmond, IN home insurance is roughly $674 to $914, about $56-$76/month. Our thorough guide indicates shoppers can save as much as $318 by getting many quotes

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Richmond, Indiana Homeowners Insurance Reviews separate fact from fiction. Compare realistic quotes from the best home insurance providers.

Richmond Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Allstate
Home Insurance Rate of $640/12 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $125,000

3 Beds, 3 Bath 1660 sqft Vacation Property Constructed In 1951 with Wood Flooring, Membrane Roof, Chainwall Foundation, Stone Siding, Metal Frame Construction. Home Features Include Central Air Conditioning, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

44 Years old Married Male who has a Part Time Job with household income of less than $25,000 and has 3 Pets and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • Up to 499 Credit Score

  • Seniors staying at home

Home Insurance Rate of $170/3 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $145,000

4 Beds, 4 Bath 2360 sqft Seasonal Residence Constructed In 1956 with Stone Flooring, Tile Roof, Chainwall Foundation, Wood siding, Metal Frame Construction. Home Features Include Smoke Alarm, Deadbolt Locks, Indoor Sprinklers, Fireplace, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

51 Years old Divorced Female who has a Part Time Job with household income of less than $25,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

Home Insurance Rate of $40/1 month for $100000-$125000 Coverage
Policy Holder Home Details :

Home Value : $105,000

2 Beds, 2 Bath 1410 sqft Vacation Property Constructed In 1985 with Carpet Flooring, Membrane Roof, Piers Foundation, Stucco siding, Metal Frame Construction. Home Features Include Copper Water Pipes, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

23 Years old Single Male who is a Freelancer with household income of $50-$75,000 and has 3 Pets and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 800-850 Credit Score

  • Guests at home

Home Insurance Rate of $190/6 months for $75000-$100000 Coverage
Policy Holder Home Details :

Home Value : $85,000

2 Beds, 2 Bath 1290 sqft Primary Residence Constructed In 1973 with Carpet Flooring, Shingles Roof, Crawl Space Foundation, Stucco siding, Wood Frame. Home Features Include Copper Water Pipes, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

73 Years old Single Female who is Unemployed and has No Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 700-749 Credit Score

  • Seniors staying at home

Home Insurance Rate of $80/3 months for $75000-$100000 Coverage
Policy Holder Home Details :

Home Value : $85,000

4 Beds, 4 Baths 1680 sqft Seasonal Residence Constructed In 1951 with Linoleum, Slate Shingles Roof, Crawl Space Foundation, Wood siding, Stucco Construction. Home Features Include Central Air Conditioning, Fireplace, Fire Extinguisher, Indoor Sprinklers, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

27 Years old Married Female who is a Freelancer with household income of $75-$100,000 and has No Pets and is a Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • Up to 499 Credit Score

  • Guests at home

Home Insurance Rate of $160/7 months for $75000-$100000 Coverage
Policy Holder Home Details :

Home Value : $90,000

4 Beds, 4 Baths 1670 sqft Rental Property Constructed In 1984 with Ceramic Tile Flooring, Slate Shingles Roof, Piers Foundation, Stucco siding, Wood Frame. Home Features Include Smoke Alarm, Copper Water Pipes, Fireplace, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

27 Years old Divorced Female who has a Full Time Job with household income of $75-$100,000 and has More than 3 Pets at home and is a Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 800-850 Credit Score

Home Insurance Rate of $320/7 months for $100000-$125000 Coverage
Policy Holder Home Details :

Home Value : $125,000

4 Beds, 4 Bath 1900 sqft Seasonal Residence Constructed In 1961 with Ceramic Tile Flooring, Wood Shake Roof, Crawl Space Foundation, Stucco siding, Brick Frame. Home Features Include Fire Extinguisher, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

28 Years old Single Male who has a Full Time Job with household income of less than $25,000 and has More than 3 Pets at home and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 600-649 Credit Score

Home Insurance Rate of $690/9 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $260,000

5 Beds, 5 Baths 3700 sqft Primary Residence Constructed In 1958 with Hardwood Flooring, Composition Roof, Piers Foundation, Fiber-Cement Siding, Metal Frame Construction. Home Features Include Smoke Alarm, Indoor Sprinklers, Deadbolt Locks, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

59 Years old Divorced Female who has a Full Time Job with household income of less than $25,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 650-699 Credit Score

Richmond, IN Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
47374 $93,900 $810

Richmond Rates & Quotes Analysis:

Richmond Area Estimated House Insurance
SW 8th St, Niewoehner Rd, Royal Oak Dr, Hayes Arboretum Rd, SW I Ct, Co Rd 650, Woodland Trail Dr, S J St, S 14th St, W Cart Rd$826
Richardson Ct, Country Club Ln, Highland Rd, Radcliff Ct, Waterfall Rd, North Dr, Lancashire Dr, S 8th St, S 9th St, Salisbury Rd S$834
S 5th St, W Pottershop Rd, Sheridan Dr, Industries Rd, SW 3rd Pl, S 17th St, Hiser Station Rd, S C Ct, Eaglewood Dr, Theresa Ln$840
Kirlin Rd, Berry Ln, Grove Rd, SW H, Oxford Dr, Oak Dr, Roby Ln, Beeson Rd, NW 9th St, SW F St$829
S Q St, Woody Pl, NW 19th St, S 8th St, Dana Dr, Elizabeth St, SW 6th St, SW 13th St, Wernle Rd, N H St$802

Insurance rates are influenced by a number of factors including:

  • Year Built: 5,394 Homes (30% of total) built between 1939 or earlier in Richmond are paying home insurance between $1,701-$1,713 and differs from Spring Grove (+$14), Centerville (+$13), Boston (+$116), New Paris(OH) (-$262) and Greens Fork (-$18).
  • Bedrooms: 7,289 3 bedrooms homes (42% of total homes ) in Richmond are paying about $914 compared to Centerville (+$6), Boston (+$53), Abington (+$29), New Paris(OH) (-$127) and Fountain City (-$8).
  • Auto Insurance Bundling: 3,754 Households (43% of all households) in Richmond have 2 vehicles available and when it is bundled with home insurance you can save $159. Discounts for similar bundling in close by locations such as Spring Grove, Centerville, Boston come to $160, $160, $169 respectively.
  • Senior Discounts: 4,660 seniors (more than 55 years) occupied housing units (53% of total) in Richmond get discounts between $118 to $121 and varies from Spring Grove ($120), Boston ($127), New Paris(OH) ($100).
  • New Homes discounts: New homes such as the 4,734 homes built between 2000 to 2009 in Richmond can save $159 and similar new home insurance discounts in nearby towns and cities like Spring Grove, Centerville and Boston are $160, $160 and $169 respectively.

Richmond Homeowners insurance Facts

  • Richmond, IN has 8,669 owner occupied houses which is 56.4% of all units whereas Spring Grove, Centerville and Boston have 84.35%, 69.4% and 89.53% respectively.
  • Richmond, IN homeowners yearly insurance price at $795 is 0.93% of the typical house value of $85,200 which is in contrast with 0.84% in Spring Grove, 0.86% at Centerville & 0.51% in Boston.
  • Homeowners in Richmond, IN pay 15.9% of their income (Less than $10,000) in insurance whereas homeowners in Spring Grove, Centerville and Boston pay 16.02%, 16.0% and 16.98% respectively.
  • Richmond, IN’s insurance is 7.2% of monthly housing costs of $918/month, for owners with a mortgage compared to 6.23% in Spring Grove, 6.67% at Centerville & 6.39% in Boston. But, for households without a mortgage, insurance is 19.1% of costs ($347 in Richmond, IN) in contrast with 22.63% in Spring Grove, 20.26% at Centerville & 15.69% in Boston.

Richmond, IN Home Values & Insurance rates

For example, insurance for 897 Homes (10.0% of total homes ) valued between $60,000 to $69,999 in Richmond, IN is about $604. Rates in nearby areas in such as Spring Grove, Centerville, Boston are cheaper by $68, $44, $282 respectively while Greens Fork and Hollansburg are costlier by $103 and $240 respectively for similar homes.

Richmond, IN Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 1,588 18.0% $230
$50,000 to $59,999 599 6.0% $484
$60,000 to $69,999 897 10.0% $604
$70,000 to $79,999 819 9.0% $699
$80,000 to $89,999 835 9.0% $787
$90,000 to $99,999 519 6.0% $882
$100,000 to $124,999 1,269 14.0% $1025
$125,000 to $149,999 788 9.0% $1279
$150,000 to $174,999 457 5.0% $1510
$175,000 to $199,999 215 2.0% $1749
$200,000 to $249,999 301 3.0% $2098
$250,000 to $299,999 209 2.0% $2567
$300,000 to $399,999 128 1.0% $3259

Renters Insurance in Richmond

  • Average Renters Insurance in Richmond :  $245($20/month)

  • Median Gross Rent in Richmond :  $593

  • Richmond Renters Insurance to Median Rent Ratio:  3.37%

  • Renter occupied housing units in Richmond :  6,693

Richmond Renters Insurance as a Percentage of Rent

Richmond Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 328 5.0% $361
$200 to $299 584 9.0% $811
$300 to $499 1,201 18.0% $1261
$500 to $749 2,890 44.0% $1936
$750 to $999 1,002 15.0% $2686
$1,000 to $1,499 371 5.0% $3811
$1,500 or more 97 1.0% $5461

Rent Affordability in Richmond:

Approximately 47.0% (3,198) of households are spending more than 35% of their income on gross rent in Richmond

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 672 10.0%
15.0 to 19.9 percent 634 9.0%
20.0 to 24.9 percent 832 12.0%
25.0 to 29.9 percent 809 12.0%
30.0 to 34.9 percent 548 8.0%
35.0 percent or more 3,198 47.0%

Protective device discount in Richmond Up to :  $36

Claims-free discount in Richmond Up to :  $49