GITNUX MARKETDATA REPORT 2024

Statistics About The Average Home Insurance Cost Indiana

The average annual home insurance cost in Indiana is approximately $1,000 to $1,200.

Last Updated: June 23, 2024

How we write

In this post, we will explore the various factors influencing the average home insurance cost in Indiana. From the impact of tornado-prone areas on rates to the differences between insuring older versus newly-built homes, understanding these statistics can help Indiana homeowners make informed decisions when it comes to protecting their property. Let’s dive into the data to uncover insights that could potentially save you money on your home insurance premiums.

Statistic 1

"Insurance costs are higher in Indiana cities prone to tornadoes, with rates sometimes 20% above state average."

Statistic 2

"The average home insurance cost in Indianapolis is slightly higher, reaching around $1,300 annually."

Statistic 3

"Older homes in Indiana can have premiums up to 15% higher due to potential structural issues."

Statistic 4

"The average cost of insuring a newly-built home in Indiana can be as low as $1,000 per year."

Statistic 5

"Home insurance costs can vary significantly depending on the age and location of the home in Indiana."

Statistic 6

"The deductible cost for roof replacement due to wind damage in Indiana can be 1% of the insured value."

Statistic 7

"Southern Indiana tends to have higher insurance rates due to increased flood risk."

Statistic 8

"The average home insurance cost in Indiana is approximately $1,200 per year."

Statistic 9

"Bloomington, IN has an average home insurance cost of $1,150 per year."

Statistic 10

"Home insurance deductibles in Indiana typically range from $500 to $2,500."

Statistic 11

"Bundling home and auto insurance can reduce home insurance costs in Indiana by up to 15%."

Statistic 12

"The average monthly cost of home insurance in Indiana is around $100."

Statistic 13

"Home insurance costs in Indiana increased by 3% over the past year."

Statistic 14

"Many Indiana insurers offer discounts for installing security systems, potentially lowering costs by 5-10%."

Statistic 15

"Indiana ranks 24th among U.S. states for home insurance premiums."

Statistic 16

"Indiana's home insurance rates have gradually increased by 2% to 4% annually over the past decade."

Statistic 17

"The average premium for a $200,000 dwelling in Indiana is $1,050."

Statistic 18

"The average cost of home insurance along the Indiana coastline is higher due to flood risk."

Statistic 19

"Indiana homeowners with a good credit score may see lower insurance premiums, averaging around $900 annually."

Statistic 20

"Home insurance policies in Indiana often cover weather damage, theft, and liability."

In conclusion, home insurance costs in Indiana vary significantly based on factors such as location, age of the home, and risk factors like tornadoes and floods. Statistics show that premiums can range from $900 to $1,300 per year, with discounts available for security systems and bundling policies. Despite a 3% increase in costs over the past year, Indiana remains in the middle range among U.S. states for home insurance premiums. Residents should be aware of the potential for higher rates in certain areas, as well as the importance of factors like credit score and deductible amounts in determining their overall insurance expenses.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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