Indianapolis ,IN Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Indianapolis, IN homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Indianapolis, IN is $1874. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Indianapolis, IN. VHome Insurance will help you navigate the world of homeowners insurance coverages in Indianapolis, IN.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $750 |
| $200,000 | $1,274 |
| $300,000 | $1,574 |
| $400,000 | $2,399 |
| $500,000 | $3,017 |
Home insurance costs in Indianapolis can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 046203 | $1,722 |
| 46201 | $1,699 |
| 46222 | $1,687 |
| 46225 | $1,697 |
| 46218 | $1,677 |
| 46204 | $1,996 |
| 46220 | $1,901 |
| 46202 | $1,968 |
| 46228 | $1,809 |
| 46205 | $1,844 |
| 46208 | $1,752 |
| 46235 | $1,752 |
| 46219 | $1,746 |
| 46221 | $1,745 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Indianapolis, IN, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,921 |
| $1000 Deductible | $1,718 |
| $1500 Deductible | $1,621 |
| $2500 Deductible | $1,462 |
| $5000 Deductible | $1,237 |
| Home Insurance Company Near Indianapolis, IN | Homeowners Insurance Agency Near Indianapolis, IN | Address |
|---|---|---|
| NA | Marvin Johnson & Associates | 305 Washington St., Columbus, IN, 47201 |
| NA | Hbg-Wiggins Insurance Agency | 1655 E Hawthorn Dr, Plainfield, IN, 46168 |
| NA | United Insurance Agencies | 220 South Walnut St, Muncie, IN, 47305 |
| Erie | Gredy Insurance Agency Inc. | 3939 S Walnut Street Suite 1, Bloomington, IN, 47401 |
| Travelers | Regions Insurance Inc | 2701 ALBRIGHT RD, KOKOMO, IN, 46902 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Center township, Marion County, Indiana | $118 | $157 | $236 |
| Marion County, Indiana | $122 | $163 | $245 |
| Spring Hill town, Indiana | $136 | $181 | $272 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Indianapolis, IN | 5.8% | 17.7% |
| Center | 7.02% | 20.73% |
| Marion County | 5.82% | 17.75% |
| Spring Hill | 3.19% | 8.05% |
| Indianapolis Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 2,331 | 1.0% | $348 |
| $200 to $299 | 3,273 | 2.0% | $798 |
| $300 to $499 | 10,683 | 7.0% | $1248 |
| $500 to $749 | 51,995 | 37.0% | $1923 |
| $750 to $999 | 43,561 | 31.0% | $2673 |
| $1,000 to $1,499 | 22,224 | 16.0% | $3798 |
| $1,500 or more | 3,818 | 2.0% | $5448 |
| Streets in Indianapolis Area | Homeowners Insurance Cost |
|---|---|
| Brookview Cir, Westbourne Dr, Potters Cove Ct, Classic Cir, Harbour Isle, Brennan Rd, Sargent Ridge, Questover Cir, E Ray St, E Oak Ave | $786 |
| N Rybolt Ave, Forest View Dr, Leota St, Caisson St, Alonzo Pl, Chesterbrook Ct, Sheffield Ct, N Glen Arm Rd, Bel Moore Cir, Brendon Way Ct | $803 |
| Heathmore Dr, New Salem Overlook, Rock Oak Dr, Lahabra Ln, Meganwood Ct, Hillside Ave E Dr, S Bradley Ave, Capel Dr, Monon Cir, Purcell Cir | $852 |
| Rambling Rd, Sienna Cir, Old Trails Rd, Network Way, Harvest Ridge Ct, Jay Ct, Pinesprings W Dr, Navigate Way, Opal Ridge Ln, Manning Rd | $859 |
| Barnor Dr, Woodfront Pl, S Livingston Ave, S Whitcomb Ave, Skeeter Ct, Brown Cir, Shady Hollow Ln, Summerfield Dr, Oakwood Trl, Ingalls Way | $820 |
| Margaret Ct, Aylesford Ln, Orchestra Way, Lockerbie St, Frank St, Nantucket Ct, Bretton Wood Dr, Radcliffe Ct, E Oak Ave, Red Horizon Blvd | $829 |
| Derby Ct, Harway Ct, N Earl Ave, Solun Ct, Seascape Ct, Continental Ct, Stonecreek Dr, Admiralty Ln, Cedar Dr, Evison St | $810 |
| Elmtree Park Pl, Springdale Pl, Red Clover Dr, N Rochester Ave, Kansas St, Honey Creek Ct, Stone Ring Cir, Constantino Ln, Rebel Run, Park Central Ct | $805 |
| Grinnell Ln, Rosegate Pl, Stadium Dr, Chenille Ct, Pine Forge Cir, N Jefferson Ave, Busseron Ln, Carlyle Ln, Rawles Ave, Basin Park Dr | $855 |
| Elmtree Ct, Ridge Vale Pl, Thicket Hill Ln, Cromer Rd, Oakbrook Ct, Spinnaker Ct, Tenor Way, McCollough Ct, Bearwood Ct, Pinellas Park Dr | $811 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Indianapolis | $122 to $124 |
| Center | $117 |
| Marion County | $122 |
| Spring Hill | $136 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $600 | $1,600 |
| Yearly Indianapolis Homeowner Insurance Premium Example | $700 | $500 |
| Out of Pocket Expense During Claim | $600 | $1,600 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $6,200 | $5,600 |
| Net Savings to Indianapolis Home Owner from High Deductible Plan | $600 | |
| Scenario | Indianapolis, IN Home Replacement Value MORE than Home Value | Indianapolis, IN Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $157,500 | $113,500 |
| Insurance Premium based on Replacement Value | $650 | $475 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $12,500 | Risk Exposure from Under Insuring Coverage is $31,500 |
| Premium Impact | Insurance cheaper by $125/year | Insurance costlier by $50/year |
| Insurance Company | State Farm | Travelers | Erie Insurance |
| Monthly Premium | 62 | 69 | 71 |
| Year Built | 2014 | 2005 | 1965 |
| Home Details | 5 Beds, 1 Baths | 4 Beds, 2 Baths | 3 Beds, 1 Baths |
| Coverage Amount | $250000-$300000 | $200000-$250000 | $175000-$200000 |
| Deductible | > $10,000 Deductible | $5000 to $10,000 Deductible | $500- $1000 Deductible |