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Home Insurance and Car Insurance in Indiana
Over 6.8 million people call the Hoosier state home1 and its capital city of Indianapolis was even ranked as one of the world’s greatest places to live.2 No matter what part of the state you live in, it’s important to buy home and auto insurance to help protect your property. SelectQuote can help you save time and shop for home and auto coverage to fit nearly any budget.
Homeowners Insurance in
Over 72% of Indiana residents own their own homes.3 Home insurance is an absolute necessity for these residents because it helps provide coverage after incidents that range from occasional storm damage to a catastrophic disaster such as a house fire. Let’s look at the types of common home insurance available to Indiana residents and the reasons why buying it makes good financial sense.
As you shop for home insurance, determine whether your policy covers the total replacement cost or is a cash value policy. The former will pay for the full replacement value of a covered claim up to your coverage limit, while a cash value policy will pay for the cash value of the damaged portion of your home minus depreciation.
What this means in practice is that if your home rebuild is quoted at $250,000 but your home’s value minus depreciation is $225,000, you’ll be responsible for the remaining $25,000.
Homeowners Insurance Coverage Options in
From the rural parts of the state to downtown Indianapolis, you can typically expect your policy to offer the following types of home insurance coverage:
- Dwelling coverage protects your home’s structure, including its walls and roof.
- Personal property coverage protects items inside your home (furniture, appliances, etc.) even if damaged outside of your house.
- Liability coverage defends and covers you if you’re sued after a person is injured on your property or after you damage their property.
- Guest medical protection coverage can pay immediate medical expenses for someone injured on your property.
- Other structures can pay for damages to structures on your property that aren’t connected to your home, such as detached garages or sheds.
- Additional living expenses coverage helps pay for lodging, food and other needs if your home is uninhabitable after a covered loss.
Common Causes of Loss in
What are some common causes of loss in Indiana that require insurance claims? Because it’s located in the Midwest, the state of Indiana is often susceptible to natural disaster-related claims, including:
- Windstorm damage
- Hail
- Lightning
- Trees and other fallen objects
- Floods
Smoke and fire are also often responsible for home insurance claims. Indiana isn’t typically at risk of wildfires, so fire losses are usually covered under your home insurance policy with no additional endorsement needed.
Other claims may or may not be covered under your insurance policy. Before you buy any home insurance, take some time to read through the declarations page to make sure your needs are taken care of.
Additional Coverage Options Recommended for Homeowners
Knowing the common types of insurance claims in your area is important as you make decisions about buying additional coverage. Some of the most common recommended types of coverage you can add to your home insurance policy include:
- Flood insurance isn’t included as part of most home insurance policies. In Indiana, the rate of flood insurance buyers is especially low even though nearly $273 million in claims have been paid to homeowners in the state since 1978.4 You can buy flood insurance through the National Flood Insurance Program (NFIP) or through a private insurance company.
- Sewer backup and seepage coverage can help pay for damages related to drainline backups or sump pump failures. Even if you don’t have a basement or below-ground level of your home, it may make sense to add this coverage.
- Roof replacement cost coverage can help pay for the full replacement of your roof as a result of damage from straight-line winds, hail, tornadoes and even snow storms. Replacement cost coverage avoids depreciation and helps lower your direct costs.
Our Home Insurance Partners in
SelectQuote works with highly rated and trusted home and auto insurance companies in each state (including Indiana) to provide you with competitive quotes for your coverage. We source rates and discounts from several insurance companies at once to help provide you a full lineup of choices.
What is the average home insurance cost in ?
The average monthly home insurance premium for SelectQuote customers in Indiana is $117.48+, but your costs will vary based on several factors including:
- ZIP code
- Credit rating
- Policy limits
- Types of coverage purchased
- Risk categories
- Deductible
Homeowners Insurance Discounts in
Indiana home insurance companies offer several discounts to help reduce the cost of coverage. Common home insurance discounts can include, but aren’t limited to:
- Discounts for low number of claims filed
- Discounts based on profession or service
- Discounts for customer loyalty
- Discounts for bundling your home and auto insurance policy
Bundle Your Home and Auto Insurance to Save Money
When you bundle your home and auto insurance with SelectQuote, you can save an average of $693 per year compared to purchasing your home and auto insurance policies separately.
Average Home and Auto Insurance Rates in
Our Indiana customers see an average annual savings of almost $700 with bundled home and auto coverage. Listed below are real rates for customers in selected Indiana cities.
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
|---|---|---|---|
| Evansville | $79.09 | $108.58 | $157.57 |
| Fort Wayne | $95.86 | $132.16 | $197.25 |
| Indianapolis | $123.69 | $150.05 | $244.26 |
| Kokomo | $105.45 | $101.31 | $195.10 |
| South Bend | $114.50 | $126.49 | $244.99 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Auto Insurance in
As the “Crossroads of America,” Indiana sees significant traffic on its highways like Interstates 70 and 64, both of which cut across the state. Nearly 2.1 million automobiles are registered in Indiana,5 with almost 4.5 million licensed drivers getting behind the wheel.6
Each of these drivers and vehicles are required to be insured in order to provide financial protection in the event of an auto accident. Let’s look at what Indiana requires in terms of auto insurance—and what additional coverage you may consider for full protection.
Auto Insurance Laws and Requirements
Indiana requires all drivers to carry some form of liability insurance coverage to help pay for damages they may cause as a result of an incident involving their vehicle. This liability insurance coverage comes in two forms: bodily injury liability coverage, which pays for medical costs and funeral expenses, and property damage liability coverage, which pays for damage to another’s property in an accident where you are found to be at fault.
How much auto insurance do you need? The state of Indiana says all drivers must carry bodily injury liability coverage with a minimum of $25,000 per person and $50,000 per accident. Property damage liability insurance must cover at least $25,000 per accident. These limits are commonly described as 25/50/25.
Indiana insurance companies are also required to offer uninsured and underinsured motorist coverage as part of all auto insurance policies,7 but you may reject this coverage. These types of coverage help pay for damages related to an accident where you’re not at fault, but the other driver either lacks enough coverage or doesn’t have auto insurance at all.
All data on average expenditures is provided by the Insurance Information Institute.
| Types of Coverage | Minimum State Requires |
|---|---|
| Bodily Injury Liability | $25,000 per person / $50,000 per accident |
| Property Damage Liability | $25,000 per accident |
| Uninsured Motorist | $25,000 per accident* |
| Underinsured Motorist | $50,000 per person and $50,000 per accident* |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
*Uninsured motorist and underinsured motorist coverage can be rejected by the driver in writing.
Other types of auto insurance coverage exist and are offered as standard parts of an insurance policy. These coverages include:
- Comprehensive coverage that helps pay for losses related to theft, vandalism, fire, glass breakage and other hazards.
- Collision coverage that pays for damages to your car after a collision with another vehicle.
- Medical payments coverage that can help pay medical bills incurred by you and your passengers if injured while riding in or entering/exiting your vehicle.
- Gap insurance pays the difference between the value of your totaled vehicle and what you currently owe on it.
You’re not usually required to pay for comprehensive, collision or gap insurance coverage, but your auto lender may require you to buy it as a condition of financing your vehicle.
Teen Driving Laws
Indiana requires all teen drivers to have an auto insurance policy and to obtain a graduated probationary driver’s license.8 The auto insurance coverage may be purchased by the driver or the teen may be added to their parents’ or guardians’ insurance policy (which is often cheaper).
The graduated license comes with several restrictions on the number of passengers allowed in the vehicle as well as prohibitions on using a cell phone in the vehicle. Upon turning 21 years old, the driver will have a full license.
Car Registration Information
Registering a vehicle in Indiana requires you to have the vehicle’s title or a statement of existing lease agreement (if leased), an emissions test in Lake and Porter counties and proof of insurance. Proof of auto insurance can take the form of:
- Your current auto insurance card
- Your policy declaration
- A letter from your insurance company on company letterhead attesting to insurance
What is the average car insurance cost in ?
The average Indiana car insurance cost for SelectQuote customers is $125.41 per month.+ Exact rates will vary based on several factors, including—but not limited to:
- The make, model and age of your vehicle
- Your credit score
- Your driving record
- Your auto insurance deductible
- Your ZIP code
- Your driving habits, including annual distance traveled
It’s possible to save significantly on your auto insurance premiums by bundling your coverage with another policy or by asking about other discounts.
Our Car Insurance Partners in
SelectQuote works with nationally recognized auto insurance companies to shop for several quotes at once. We save you time and money by comparing rates from these insurance carriers and presenting you with the best coverage options to meet your needs.
Home and Auto Insurance Frequently Asked Questions
As SelectQuote helps Hoosiers find affordable home and auto insurance, we get a lot of questions about how to shop for coverage.
How do I shop for insurance in Indiana?
Shopping for home and auto insurance in Indiana is as simple as figuring out your coverage needs, contacting insurance companies and comparing the quotes they give you. But how do you make that process even easier? Are there differences between shopping for home and auto insurance coverage?
How should I shop for homeowners insurance in Indiana?
- Determine your coverage needs, including what it would take to rebuild your home after a catastrophe.
- Create an inventory of your property, including furniture, appliances and electronics.
- Source quotes from several insurance companies at once to compare rates. Need help with this step? SelectQuote has you covered.
- Don’t forget to ask about any eligible discounts, including those for bundling home and auto insurance coverage.
How do I shop for auto insurance in Indiana?
- Determine your needed coverage limits, including the legal minimums, and any other coverages as required by your vehicle lender.
- Compare quotes from several insurance companies at once. SelectQuote can source this information and do most of the work for you.
- Bundle your home and auto insurance together for additional savings.
Do I need mobile home insurance in Indiana?
Most home insurance policies do not cover mobile homes. Manufactured homes are often at an increased risk of fire and windstorm damage, especially compared to stick-built homes. Special mobile home insurance is available to help protect this type of residence.
Is boat insurance required in Indiana?
Indiana does not require liability insurance for boat owners,9 although it is a good idea to purchase a separate boat policy—especially for larger vessels.10
What are the minimum state requirements for insurance in Indiana?
Indiana does not require homeowners to purchase insurance, but auto insurance customers must carry bodily injury liability and property damage liability with a 25/50/25 limit. The Hoosier state also mandates that all insurance policies offered to customers include uninsured and underinsured motorist coverage, but these two types of coverage may be rejected by the policyholder in writing.
SelectQuote Can Shop Home or Auto Insurance to Save You Time and Money
Whether you live in Indianapolis or enjoy a quiet lifestyle in the wooded hills of Brown County, buying home and auto insurance is important. If you have questions about finding affordable coverage for your home or vehicles, SelectQuote can help. We shop for standalone or bundled home and auto insurance to save you time and money.
Contact us today to see how much you can save.
- https://www.census.gov/quickfacts/IN
- https://www.wthr.com
- https://fred.stlouisfed.org/series/INHOWN
- https://www.in.gov
- https://www.statista.com
- https://www.statista.com/statistics
- https://www.in.gov/idoi/consumer-services
- https://www.in.gov/bmv/licenses-permits-ids
- https://www.uscgboating.org
- https://www.insideindianabusiness.com
+Average rates calculated are based on effective SelectQuote customer policies in Indiana between 4/1/2022 and 3/31/2023. Rates will vary based on level of coverage, location, age, and additional determining factors.
