Indianapolis Home Insurance Costs (2026)

How much is homeowners insurance in Indianapolis?

Homeowners insurance in Indianapolis averages $251 a month for the house we priced, with rates as of Sept. 30, 2026. The 2 major insurers we compared are State Farm and Erie, and each one priced our sample home in all 35 Indianapolis ZIP codes in our data, in Marion County and Hamilton County. For this house, Indianapolis is the 3rd most expensive of the 8 Indiana cities in our data with at least 5 ZIP codes, and above the Indiana average of $227 a month. Only 2 major insurers priced our sample home in Indianapolis in our data, so this average reflects just those two; local and regional insurers we didn’t price may charge more or less, so compare several quotes.

Our figures are for a $300,000 dwelling, which works out to about $10.03 a year for each $1,000 of dwelling coverage in Indianapolis; insuring a larger or costlier house for more usually costs more, though not always in step with the limit.

For the same insurers and ZIP codes, the Indianapolis average rose 9.2% since Nov. 2025, from $2,756 a year ($230 a month) on Nov. 30, 2025, to $3,009 ($251) on Sept. 30, 2026, as State Farm’s rose 15.7% and Erie’s rose 4.9%.

Homeowners insurance averages by insurer in Indianapolis for our sample home (rates as of Sept. 30, 2026)

State Farm averaged $210 a month ($2,524 a year) and Erie $291 ($3,495) for our sample home.

Same sample home: each insurer’s average yearly price in the same Indianapolis ZIP codes, Nov. 30, 2025 and Sept. 30, 2026

All 2 insurers in the table priced the same 35 Indianapolis ZIP codes on both dates. Priced on only one date, so not in the table: Allstate (Nov. 30, 2025 only).

By ZIP code: each insurer’s yearly price for the same house changed with the Indianapolis address:

• State Farm ran from $2,416 a year in 46280 to $2,642 in 46204.
• Erie ran from $1,847 a year in 46204 to $4,166 in 46201.

Who has the cheapest homeowners insurance in Indianapolis?

With only 2 insurers in our data for Indianapolis home insurance, we show both averages instead of calling one the lowest in Indianapolis: State Farm $210 and Erie $291 a month for our sample home. Local and regional insurers we didn’t price may charge less for home insurance, so compare a few quotes.

What changes your price: where the house sits, its value, age and roof, your deductibles, claims and credit, and whether you add a car. In Indianapolis, ZIP code averages for this house ran from $187 to $282 a month, while insurers’ Indianapolis averages ran from $210 to $291.

Same house, different city: how does Indianapolis compare?

The same sample home costs $251 a month in Indianapolis, $196 in Fort Wayne, $216 in South Bend, $221 in Gary, $228 in Bloomington, $230 in Anderson, $252 in Terre Haute and $254 in Evansville, the 8 Indiana cities in our data with at least 5 ZIP codes.

Same sample home: average home insurance prices in Indianapolis, other Indiana cities and the state (rates as of Sept. 30, 2026)

Each city covers the ZIP codes in our rate data with that city as their main mailing address; every row prices the same house.

Fort Wayne has the lowest average of these Indiana cities, $196 a month, and Evansville the highest, $254; Indianapolis sits between them.

Compared with Fort Wayne, the Indiana city with the most ZIP codes in our data after Indianapolis (16), the same house costs 27.9% more to insure in Indianapolis.

Across the U.S., 145 of the other 291 cities in our data with at least 5 ZIP codes priced have a lower average for this house than Indianapolis, and 146 a higher one.

For the statewide picture, see home insurance costs in Indiana and Fort Wayne home insurance costs.

Compare all states: home insurance costs for the same house in all 50 states and D.C.

How much is homeowners insurance on a $300,000 house in Indianapolis?

For a house with $300,000 of rebuilding coverage and a $1,000 deductible, homeowners insurance in Indianapolis averages $251 a month ($3,009 a year) across the 2 insurers we compared in 35 ZIP codes (rates as of Sept. 30, 2026). That’s 10.4% above the $227-a-month Indiana average for the same house. Insurers’ averages for that same house ran from $210 to $291 a month.

Why your Indianapolis quote may differ from these prices

Use our one-house figures as a starting point when you compare homeowners insurance quotes for yours.

Your roof: Our sample house has a composition roof, and we priced it without a roof age. Insurers often charge more for older roofs, so ask how your roof’s age and material change your quote.

Your claims and credit: a recent claim, or weaker credit where an insurer uses it, can push an Indianapolis quote above the $251 a month our claim-free, good-credit owner averages.

Your deductibles: our house has one $1,000 deductible for covered losses other than a hurricane. If your policy has a separate percentage deductible for wind and hail, your premium and your out-of-pocket cost after a storm will both differ from ours.

What drives home insurance prices in Indianapolis?

For our sample house, Indianapolis is the 3rd most expensive of the 8 Indiana cities in our data with at least 5 ZIP codes, and 2.9% below the average of the 50 states and D.C. Our figures don’t separate causes; these official records show what Indianapolis homes face.

The White River at Indianapolis crested at 20.02 feet on Aug. 15, 2026, the second-highest crest on record behind the 25.90 feet of March 1913, according to the National Weather Service.

Severe storms on March 31, 2023, produced 10 tornadoes across central Indiana along with widespread wind damage, according to the National Weather Service.

How to find cheaper home insurance in Indianapolis

For our sample home, insurers’ Indianapolis averages ran from $2,524 to $3,495 a year. These are the levers you control; how much each one moves a quote depends on the insurer and the house, and none of them comes with a promised price.

Compare at least three insurers: even one insurer’s price moves a lot by address: Erie’s for our sample home ran from $1,847 to $4,166 a year depending on the Indianapolis ZIP code.

Price two deductibles: ask each insurer for the premium at your current deductible and one step higher, and keep any percentage wind and hail deductible in dollars in mind (2% of $300,000 is $6,000, about 24 months of Indianapolis’ $251-a-month average premium).

Ask about a tougher roof and safety devices: impact-resistant roofing, smoke detectors, burglar alarms and dead-bolt locks are common discounts to ask about.

Bundle with care: some insurers take roughly 5% to 15% off when you buy home and car insurance together, the Insurance Information Institute says; compare both ways before you decide.

Keep the coverage you need: insuring at least 80% of the rebuilding cost protects you on partial losses, so a lower price that comes from a lower limit can cost you after a large claim.

Guard a clean record: our sample owner has no claims in 10 years, and the $251-a-month Indianapolis average assumes that clean record; a recent claim can raise a quote.

How much is renters insurance in Indianapolis?

Renters insurance for our sample renter averages $26 a month ($309 a year) in Indianapolis. For our sample renter, prices among the 3 insurers we compared ranged from $21 to $30 a month, a $9-a-month gap for the same coverage.

Renters insurance averages by insurer in Indianapolis for our sample renter (rates as of Sept. 30, 2026)

State Farm averaged $21 a month ($250 a year), Allstate $27 ($319) and Erie $30 ($358) for our sample renter.

We don’t name a lowest renters insurer in Indianapolis (the methodology explains when we do); the renters table above lists every insurer’s average for the same renter, from $21 to $30 a month.

For renters insurance, Indianapolis is the 2nd most expensive of the 8 Indiana cities in our data with at least 5 ZIP codes: its average is 12.8% above the Indiana renters average of $274 a year ($23 a month) and 20.8% above the average of the 50 states and D.C., $256 a year ($21 a month). Among the 292 U.S. cities in our data with at least 5 ZIP codes priced, 233 have a lower renters average for our sample renter than Indianapolis, 58 a higher one. Our sample renter’s policy costs about 10% of what our sample home costs to insure in Indianapolis.

For the same insurers and ZIP codes, the Indianapolis renters average rose 2.6% since Nov. 2025, from $25 to $26 a month, as Erie’s rose 4.9%, State Farm’s rose 2.8% and the other insurers’ prices didn’t change.

By ZIP code, the Indianapolis renters average for our sample renter ran from $21 a month in 46280 to $30 in 46235. Of the 35 ZIP codes, 11 averaged more than the city’s $26 a month for our sample renter, 20 less and 4 the same.

Our sample renter lives in an apartment built in 2005 and insures $40,000 of belongings with $300,000 liability and a $1,000 deductible. The renter is 40, single, with good credit and no claims. Rates as of Sept. 30, 2026, from 105 sample prices by 3 insurers across 35 Indianapolis ZIP codes.

• $40K belongings
• $300K liability
• $1,000 deductible

What does renters insurance cover in an Indianapolis apartment?

Your landlord’s insurance is for the building; a renters policy is for your belongings and your liability. The policy we priced pays up to $40,000 for belongings after a covered fire, storm or burglary and $300,000 if you’re responsible for someone’s injury or property damage. In Indianapolis, that package averages $26 a month; flood and earthquake damage need separate coverage.

How we got these renters prices: each insurer’s average across the 35 Indianapolis ZIP codes in our data. Sample prices, not quotes or offers.

You may also want to compare: car + home insurance in Indianapolis

Many Indianapolis homeowners insure a car too. Some insurers take roughly 5% to 15% off when you buy home and car insurance from them together (Insurance Information Institute), but the same insurer has to write both policies, and buying both from one insurer isn’t always the lower-priced choice, so compare both ways.

See car insurance rates in Indianapolis · Indiana car insurance rates · How bundling home and auto insurance works