Indiana variant. This is a Indiana-specific version of the Homeowners Insurance Estimator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Homeowners Insurance Estimator.
Homeowners insurance in Indiana typically runs about 0.30%–0.40% of home value per year. On the $240,000 median home, that's roughly $840 annually.
What Indiana homeowners insurance covers
Premiums fund dwelling coverage, personal property, liability, and loss of use. Indiana's $240,000 median home value sets the baseline dwelling coverage and therefore the premium.
Local risk - wildfire, hurricane, hail, flood - drives big swings. Flood is separately insured. Use the estimator to refine the Indiana average for your build cost and deductible.
About taxes and housing in Indiana
Indiana has a low flat state income tax, and counties may add their own local income taxes on top.
Indiana caps property taxes through a constitutional limit tied to a percentage of a home's value, keeping bills predictable.
Indiana has one of the most manufacturing-intensive economies in the country, with steel, autos, and pharmaceuticals as major sectors.
Worked example: $240,000 home
$240,000 × 0.35% ≈ $840/year ($70/month). Replacement-cost coverage, not market value, ultimately sets the premium - land value is excluded.
Quick reference
- State income tax: Flat 3.05% (decreasing toward 2.9%)
- State sales tax: 7% (plus 0.00% avg local)
- Median home value: $240,000
- Median household income: $67,173
- Effective property tax rate: 0.84%
- Avg auto insurance: $1,304/yr
Frequently Asked Questions
How much is homeowners insurance in Indiana?
Roughly $840/year on the $240,000 median home, varying with local catastrophe risk.
Does homeowners insurance cover floods in Indiana?
No - flood coverage is purchased separately through the NFIP or private insurers.