An honest state near the lakes with a lot to offer and a diverse economy, Indiana residents are used to cold weather, winds, and more, while nonetheless making their homes in the area and thriving. Yet while you might be ok with whatever nature throws your way, your home might not be so hardy. For this reason, we would ask that you consider getting renters insurance for your home and that you consider the following options, as we searched for the best and the cheapest so you don’t have to.
Here are the three cheapest homeowners insurance providers operating in Indiana:
The Three Cheapest Quotes:
We would like to note that not every provider will provide the exact experience or have the same price for as what’s listed below, as your home and personal situation will be different from everyone else’s.
The number listed next to each provider is the average annual rate for a standard policy.
1) State Farm: $1,591
While it’s not too much consolation, State Farm is the cheapest provider on average of homeowners insurance in the state as they are across the country. They will be able to provide you with an understandable yet effective plan like millions of others, and they can be considered one of the most experienced and stable providers in the country.
Yet while State Farm is simple and doesn’t confuse you with anything extra, that means there isn’t much extra to work with. What you see is what you get, and anyone looking for many more discount options or customization possibilities will be disappointed.
You can expect the following working with State Farm:
- Plenty of online tools and resources to help you understand the insurance world and your plan.
- An excellent online quoting system that’ll give you clear details.
- A wide network of agents available to help you.
2) Allstate: $1,620
A choice very comparable to State Farm in most aspects, Allstate is a great choice if you’re looking to bundle and will for many people be the cheapest option given the number of discounts available. With a fantastic online experience and a lot of structural stability behind it, Allstate might be the most worry-free company to deal with (at least at an acceptable price). Additionally, if you own one of the older homes in the state, Allstate might give you the fairest price.
The main issue you might run into with Allstate is that the customer service is often lacking, which can be a big problem when you’re already dealing with complicated insurance tasks. You might also run into a slow response time, and some people reported being harassed about upgrading their coverage too often.
You can expect the following working with Allstate:
- A large number of available discounts, such as those for installing safety measures to those for bundling your policies or switching Allstate while you’re with another company.
- Plenty of tools to help you better understand the insurance situation in your area and your plan in particular.
- Optional coverages including but not limited to: water backup, garden and landscaping, identity theft restoration, business property, and scheduled personal property.
3) Farmers: $2,351
Last as far as company’s we’re certain about regarding price go, Farmers provides the most options for its customers and is also known for having excellent customer service. If you’re willing to pay a bit extra, know exactly what you want and why you want it, or are a new homeowner looking for a provider, look further into Farmers.
Farmers, however, does have some problems when it comes to customer satisfaction, as there are quite a few reports of people not being happy with coverage after the fact or potential rate spikes down the line.
You can expect the following working with Farmers:
- Three different plans to choose from, with at least the basic one being customizable in terms of coverages and levels of coverage.
- Discounts for new homeowners, not smoking, bundling, using strong roofing materials, and other things.
- A history of reliability and good service brought to you.
Other Notable Indiana Homeowners Insurance Providers
There are other excellent providers that we could not get a reliable average annual rate for, but we still wanted to bring your attention to. If they seem like they could provide the policy you’re looking for, we encourage you to get a quote.
4) Indiana Farm Bureau
One of many Farm Bureau Branches across the country, the Indiana Farm Bureau is an organization that is meant to help and support people working in agriculture, but they also have a very successful insurance program that anyone with a membership (you don’t have to be a farmer) can opt into.
You will need to get a membership to fully explore your options, and pay for it, so that inconvenience can be a hurdle. It might also not be the largest insurance provider in the country, but this shouldn’t affect most policyholders.
You can expect the following working with Indiana Farm Bureau:
- Some very potent discounts, including a loyalty discount, a paperless discount, multi-line discounts, and a full payment discount.
- Your membership will provide you and your family members with plenty of extra discount opportunities, whether for travel, tickets, or something else.
- A customer service department that takes every issue and complaint you have seriously.
5) Liberty Mutual
While we understand that for some people it can get quite expensive, Liberty Mutual often gives you ways to save on your annual rate while providing you with a competitive homeowners insurance plan. Combine that with the fact that the company has many different insurance products available should you need them, and the convenience might be worth any hassles.
Yet what are those hassles? Reports generally fall against their claims process, with people saying they’ve had difficulties getting a payout (and that the entire effort took far too long). They also are beaten in financial stability by most of the companies listed here.
You can expect the following working with Liberty Mutual:
- Plenty of bundling opportunities alongside discounts for new homeowners and those willing to install safety measures in their home.
- The ability to aid you in getting emergency repairs made.
- An inflation protection endorsement to keep your policy up with rising material and labor costs.
In many ways a state that has a little bit of everything American in it, Indiana can be a place where your family will want to stay for generations. We want to help you make sure it stays that way, which is why we hope that you consider getting homeowners insurance so that you can rest easy. While it’s not the cheapest in Indiana, even if you take advantage of every offer available, we know that in the long run, it’ll be worth it. We wish you luck in your search and hope you come to a definitive choice soon.