Home Insurance Quote, Compare Home & Condo Insurance in Indiana

One of the most popular questions we get from Indiana home insurance shoppers is: I can only sell my house for $150,000, why do you have it insured for $245,000?

The Market Value (what you could sell your house for) has NOTHING to do with the cost to rebuild your house and the rate you pay for your Indiana home insurance. The Replacement Cost of $245,000 is the estimated cost of reconstructing your home in the event it is completely destroyed. Replacement cost in your Indiana home insurance policy includes labor, building materials, overhead, profit, permits, taxes and other fees. This figure does not include the cost of the land or other structures on your property. To calculate the replacement cost for your Indiana home insurance, insurance companies look at home construction costs in your area and consider your home's square footage, amenities, and built in features.

For Example: A 1000 square foot house on the water might have a Market Value of $500,000 because of its location on the water. But the Replacement Cost of that tiny home is only $135,000 and that is the amount that determines the rate you pay for home insurance in Indiana.

The capital of Indiana is Indianapolis. The largest city in Indiana is Indiana. The most visited state park in Indiana is Indiana Dunes Natl. Lakeshore. The state song of Indiana is "On the Banks of the Wabash, Far Away" Written by Paul Dresser.