Most homeowners want to cut costs, but finding affordable home insurance should not require sacrificing quality coverage. According to the U.S. Census Bureau, 62% of Fort Wayne homes are owner occupied, with a median home price of $115,100. Fort Wayne residents pay an average homeowners insurance premium of $1023, which covers $250,000 worth of dwelling coverage.
We searched for Fort Wayne’s best home insurance at a great price. We looked for companies that are friendly and responsive, have a strong claim process, and provide the necessary coverages. Five top Fort Wayne insurance companies were found. All of our top carriers offer homeowners insurance rates that are lower than the average in Fort Wayne.
Fort Wayne’s best home insurance company
Annual premiums are important, but to find the best homeowners insurance companies in Fort Wayne, we also looked for insurers that provide excellent customer support, have sound financial stability, provide excellent standard and optional coverages and extend money-saving discounts.
Travelers is the Fort Wayne’s top home insurance company with the lowest average annual premiums. The provider offers a handful of potential homeowners discounts, including up to a 5% discount for LEED certified green homes, up to a 12% multi-policy discount and further savings for homes equipped with safety and security devices, such as burglar alarm systems and smoke detectors.
While Travelers’ standard home insurance policies pay actual cash value for covered personal property, the carrier offers optional replacement cost coverage. This valuable coverage allows you to replace kitchen appliances and furniture at current market price after a loss. Optional scheduled personal property coverage is also available by Travelers. This provides additional protection for valuable possessions like jewelry, silverware, and coins.
Erie Insurance’s standard homeowners policies include guaranteed dwelling replacement cost coverage, a feature some insurers only offer as an option. This guarantee is only applicable to repairs exceeding $5,000. It does not cover any ordinances or laws. Standard policies from the provider include $500 in coverage for your pet’s animal, bird, and fish needs.
Erie also offers water backup and sump-overflow coverage, and service line protection. This protects underground utilities that connect your home to infrastructure like a sewer or electric grid. Customers who buy more than one Erie policy can receive a 16% to 25 percent multi-policy discount.
American Family pulls ahead of the pack with an impressive selection of optional coverages. Many providers don’t offer equipment breakdown coverage. This covers the critical systems of your home, including electrical and mechanical systems. American Family’s matching siding coverage replaces damaged siding. It also pays up to $20,000 for new, unaffected siding. American Family has partnered with CyberScout to offer optional credit theft protection and monitoring coverage. This alerts you if someone opens fraudulent credit accounts in your name.
You can get up to 20% off your homeowners policy when you combine American Family home insurance with auto insurance. This could save you up to 29% on your auto coverage. The carrier also extends a smart home discount to houses equipped with smart home security systems and safety devices such as water monitors. Through a partnership with Frontpoint Home Security Systems, American Family offers its policyholders security systems and 24/7 monitoring service.
J.D. Power’s 2020 U.S. Home Insurance Study, USAA dominated the competition. J.D. Power’s 2020 U.S. Home Insurance Study rated USAA as the best, with an overall customer satisfaction score of 889 out 1000. But, USAA does not qualify for ranking in the survey, because it only offers home insurance to members of the U.S. military, veterans, pre-commissioned officers and their kids and spouses.
USAA’s standard home insurance policies include all basic coverages, plus earthquake coverage, which most providers only offer as an add-on. Standard policies include home sharing coverage. This covers your home if it is rented out to someone who is regularly lodged or if you are deployed. Standard policies include personal property replacement cost coverage, which is included at no extra cost.
All over the country
Nationwide stands out in the crowd with a notable selection of discounts. Nationwide offers a discount for customers who have been insured with another provider continuously and additional savings for homes that were purchased within the past 12 months. If you have multiple policies, if your home is located in a gated community, or is equipped with security and safety devices, you can get a discount. If you make improvements to your home’s heating, cooling, or plumbing systems, the insurer will offer a discount.
Nationwide’s standard home insurance policies include ordinance or law coverage, which, following a covered loss, pays to repair your house to current building codes. Credit card coverage is also included in standard policies. This covers losses due to fraudulent ATM card transactions or forged checks, up to a certain limit.
Fort Wayne Home Insurance Considerations
Fort Wayne does not require homeowners insurance. If you have a mortgage, your lender may require that you purchase a home insurance policy. Typically, standard home insurance policies include dwelling, other structures, loss of use, personal liability and medical payments coverages. Fort Wayne residents may consider adding some optional coverages.
- Insurance policies that do not include earthquake coverage are rare. Indiana lies near the New Madrid Seismic Zone (NMSZ). According to the Missouri Department of Public Safety, the NMSZ experiences around 200 tremors per year, with magnitude 4.0 or greater quakes occurring about every 18 months. Fort Wayne residents can get earthquake insurance to protect their homes, personal property, and vehicles. Many major insurers offer this endorsement for home insurance policies.
- Flood insurance: Standard home policies do not include flood coverage. Fort Wayne regularly experiences flood events. Although the city has attempted to reduce flooding by building levees in certain areas, it has also supported home purchase programs for extremely threatened homes. Houses that lie in certain flood hazard areas, which were purchased with a federally insured loan, require flood insurance. You can buy flood insurance through the National Flood Insurance Program (NFIP). NFIP flood insurance is sold by some Fort Wayne insurance companies.
- Scheduled property coverage: Insurance companies set limits on the amount they will pay to repair or replace certain types of personal property. You can also purchase scheduled property coverage to protect expensive items like antiques, jewelry and musical instruments. If your home is damaged by weather or fire, or if burglars are present, scheduled property coverage may be able to save the day.
Fort Wayne home insurance discounts
When shopping for a new home insurance company, and when renewing an old policy, always try to take advantage of discounts. While some insurers offer many homeowners insurance discounts while others only offer one or two, some do not. Fort Wayne policyholders are offered the following discounts:
- Multi-policy discounts and bundle discounts: You may be eligible for a discount if more than one policy is purchased from the same provider. Erie Insurance offers a multi-policy discount of up to 25%, while American Family provides a discount up to 20% when you bundle auto and home insurance policies.
- Discounts for new and renovated homes: Some policyholders are entitled to a discount when purchasing a new house. Some providers offer discounts to homeowners who renovate large systems like the electrical or plumbing infrastructure.
- Discounts on protective devices: Devices like smoke detectors and burglar alarms can help protect your home from major damages. Many home insurance companies offer discounts to homes that are equipped with protective devices.
Questions frequently asked
Which is the best company for home insurance?
Your personal rating and needs will determine which home insurance company is best for you. Look for providers that offer great rates, financial stability, and customer service.
What is the cost of Fort Wayne home insurance?
Quadrant Information Services reports that Fort Wayne residents pay an average homeowners premium of $1.023, which is $250,000 for dwelling coverage. The price you will pay for home insurance will depend on several factors, including your home’s age, construction type and proximity to a fire station, as well as the amount of coverage you buy and your policy’s deductible.
What amount of Fort Wayne home insurance do you need?
Experts recommend that you have enough coverage for your dwelling to rebuild your entire home. You can usually choose the amount of personal property coverage that you require. Keep in mind, however, that standard policies do not cover personal property beyond its cash value. You may want to add personal property replacement cost coverage and earthquake and flood insurance, as well as scheduled property coverage for costly possessions.