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Best cheap home insurance in Fort Wayne in 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best home insurance companies in Fort Wayne
Fort Wayne is the second-largest city in Indiana and one of the top 25 fastest-growing cities in the country. Perhaps because of the uptick in population, Fort Wayne home values have risen by nearly 8 percent over the past year. A home is a large (if not your largest) investment, and having a great insurance policy is the smartest way to protect that investment. Bankrate’s insurance editorial team, which includes licensed agents, is here to help you find the best home insurance in Fort Wayne for your needs and budget. Based on our research, USAA, Erie, Nationwide, Allstate and American Family are some of the best home insurance companies in Fort Wayne.
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why USAA made our list: USAA’s home insurance policies automatically insure your personal property at replacement cost value — something that usually costs extra with other insurance companies. Identity theft protection is also included up to $5,000. Notably, USAA is only available to members of the military and their qualifying family members, so not everyone will be able to get a policy.
Why USAA may be the best overall: USAA tied for the best home insurance company overall title in the 2024 Bankrate Awards partially for its highly rated customer service. Although its eligibility requirements preclude it from official ranking with J.D. Power, it is a consistently high scorer for customer service, claims satisfaction and digital tools. This is extra impressive, considering USAA does not have any brick-and-mortar agencies.
| Bankrate Score | 4.7 |
| J.D. Power | 737/1,000 |
| AM Best Rating | A++ |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why Erie made our list: Despite only servicing 12 states, Erie beat out all of the national home insurance companies in the 2023 J.D. Power Home Insurance Study (except USAA). Erie was ranked first in this study, and came in third in the 2024 Property Claims Satisfaction Study. Customer service aside, Erie also includes guaranteed dwelling replacement cost coverage in its policies and up to $500 for pets.
Why Erie may be the best regional insurance company: Working with a larger, national insurance company has benefits, but it may not be suitable for all homeowners. Erie has multiple agent offices in Fort Wayne for homeowners who prefer in-person service. Plus, working with a local agent could help provide boots-on-the-ground insight into your area's unique home insurance needs.
| Bankrate Score | 4.4 |
| J.D. Power | 674/1,000 |
| AM Best Rating | A+ |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why Nationwide made our list: Nationwide home insurance can be a good option for a variety of Fort Wayne property owners. As a near-national insurer, you can also get car, life, pet, other insurance lines and some financial products through Nationwide, making it a good choice for homeowners looking for a one-stop-shop for all their needs. Its policies are flexible, too, with unique add-ons like Better Roof Replacement and Brand New Belongings.
Why Nationwide may be the best for discounts: Nationwide won the 2024 Bankrate Award for best budget home insurance company for its low average rates and a broad selection of discounts. On its website, Nationwide advertises nine different discount opportunities and its On Your Side Review, where a licensed Nationwide agent reviews your policy and speaks with homeowners about potential new savings and cutting unnecessary coverage to help you save money.
| Bankrate Score | 4.3 |
| J.D. Power | 641/1,000 |
| AM Best Rating | A |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why Allstate made our list: Based on our research, Allstate has some of the cheapest home insurance in Fort Wayne. Claims filings and customer service is available 24/7, and it was one of the only carriers ranked above average for both service and shopping in the J.D. Power Digital Experience Study. For homeowners who prefer in-person service, Allstate has offices throughout Fort Wayne.
Why Allstate may be the best overall: Not everyone qualifies for a USAA policy, but those looking for a similarly well-rounded home insurance provider may be interested in Allstate. In addition to its highly rated customer service, Allstate also offers homeowners a lengthy list of endorsement options. Like USAA, Allstate was also awarded the best home insurance company overall Bankrate Award.
| Bankrate Score | 4.2 |
| J.D. Power | 631/1,000 |
| AM Best Rating | A+ |
Bankrate Score
Avg. annual premium
$300K dwelling coverage
JD Power
Why American Family made our list: Although American Family scored a few points below average in the J.D. Power Home Insurance Study, it ranked above average for claims satisfaction. Customer service is also available 24/7, which includes claims filing and general inquiries.
Why American Family may be best for custom policies: American Family has some hard-to-find optional coverages like hidden water damage protection, home renovation coverage and senior living protection (to name just a few). Homeowners looking to build out a more customized home insurance policy may want to look into American Family.
| Bankrate Score | 4.2 |
| J.D. Power | 638/1,000 |
| AM Best Rating | A |
Bankrate's trusted insurance industry expertise
Read our full methodologyBankrate’s team knows that, for many homeowners, price is a major consideration when buying insurance. To help you make a more informed buying decision, we update the average rates on this page every single month with Quadrant information services.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest home insurance companies in Fort Wayne
Buying a home is no small feat, especially in the current buying climate. It’s expensive, and if your insurance budget is looking lean, Bankrate can help you find an affordable rate. Our research shows that, on average, Buckeye State Mutual, Allstate and Indiana Farmers are the cheapest home insurance companies in Fort Wayne. Keep in mind that, when looking for cheap home insurance companies, the higher your dwelling limit is, the more you will likely pay for your policy.
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|
|---|---|---|
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Buckeye State Mutual
|
$53
|
$636
|
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$78
|
$935
|
|
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$123
|
$1,477
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|
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$124
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$1,485
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|
|
|
|
|---|---|---|
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Buckeye State Mutual
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$66
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$790
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$112
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$1,341
|
|
|
$176
|
$2,110
|
|
|
$182
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$2,180
|
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Compare home insurance rates
Answer a few questions to see personalized rates from top carriers.
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
How much is home insurance in Fort Wayne, Indiana?
Compared to the national average, Fort Wayne home insurance costs are pretty cheap. The average cost of home insurance in Fort Wayne is $1,536 per year for a policy with a $300K dwelling policy. This is 33 percent less than the national average of $2,304 per year, and 11 percent less than the Indiana average of $1,717. But, these figures may not represent your exact insurance costs. Factors like your credit history, how old your home is and the deductible you choose can also play a part in your home insurance costs.
Fort Wayne rates by credit tier
Your credit history can help determine your Fort Wayne home insurance costs. Insurance actuarial data suggests that homeowners in good or excellent credit tiers file fewer claims than those with average or poor credit. As such, most home insurance companies charge cheaper rates for homeowners with better credit. While raising your credit score can take some time, taking the steps to improve your credit rating could help you save money when your policy renews.
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|---|---|---|---|---|
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Buckeye State Mutual
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$881
|
$557
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$549
|
$530
|
|
$1,387
|
$852
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$770
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$632
|
|
|
Indiana Farmers
|
$2,425
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$1,343
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$1,053
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$710
|
|
$3,178
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$1,348
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$1,088
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$784
|
|
|
$1,721
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$1,200
|
$1,109
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$925
|
Fort Wayne rates by home age
Older homes usually cost more to insure. Older homes, particularly those with older roofs, may be more expensive to repair after a covered claim. To offset these future, potential higher costs, many insurance companies charge older homes higher rates. In the table below, we’ve rounded up average rate data from the cheapest home insurance companies across multiple construction years.
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|---|---|---|---|---|---|
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Buckeye State Mutual
|
$655
|
$636
|
$626
|
$597
|
$508
|
|
$793
|
$825
|
$845
|
$897
|
$621
|
|
|
Indiana Farmers
|
$1,259
|
$1,259
|
$1,259
|
$1,232
|
$915
|
|
$1,520
|
$1,428
|
$1,440
|
$1,425
|
$818
|
|
|
$1,833
|
$1,840
|
$1,845
|
$1,524
|
$852
|
Fort Wayne rates by deductible amount
If your insurance quotes are higher than you’d prefer to pay, you may want to think about raising your deductible. While your out-of-pocket costs after a claim will be higher, your insurance company may offer you a lower premium. Just make sure that your deductible is still an amount of money you could reasonably afford to pay at a moment’s notice.
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|
|
|---|---|---|---|
|
Buckeye State Mutual
|
$361
|
$344
|
$322
|
|
$727
|
$692
|
$539
|
|
|
Indiana Farmers
|
$1,144
|
$1,144
|
$1,144
|
|
$1,056
|
$1,029
|
$895
|
|
|
$1,065
|
$1,026
|
$975
|
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Credit: Rates were calculated based on the following insurance credit tiers assigned to our homeowners: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining home insurance rates: California, Maryland, Massachusetts.
Year built: Rates were calculated based on the following years built for homes and assigned to our homeowners: “1959, 1982, 1992, 2010, 2016 (base) and 2020.”
Bankrate Scores
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
Tier scores are unweighted to show the company's true score in each category out of a possible five points
