Why Did My Greenwood Indiana Home Insurance Premium Increase?

Nate Jones, CPCU, ARM, CLCS, AU
Dec 25, 2025
2 min read

If you’ve noticed your homeowners insurance premium creeping up, you’re not alone. Many Greenwood, Indiana homeowners are asking the same question. Insurance rates can change for several reasons—some within your control and others tied to broader trends.

1. Rising Repair and Construction Costs

The cost to rebuild homes in Greenwood has increased due to higher material and labor prices. Since your dwelling coverage is based on rebuild cost, premiums often rise to keep pace.

2. Severe Weather Risks

Indiana faces hailstorms, tornadoes, and freezing winters. Recent storm activity in Johnson County can lead insurers to adjust rates to cover higher risk.

3. Inflation and Market Conditions

General inflation affects everything—including insurance claims. When repair costs rise, insurers adjust premiums to maintain coverage adequacy.

4. Your Claims History

If you’ve filed multiple claims in the past few years, your risk profile changes. Even small claims can impact renewal rates.

5. Policy Changes or Coverage Add-Ons

Adding flood coverage, sewer backup protection, or increasing liability limits will raise your premium—but also strengthen your protection.

6. Credit Score and Risk Factors

In Indiana, credit-based insurance scoring is allowed. A drop in your credit score can lead to higher premiums.

How Greenwood Homeowners Can Lower Premiums

Bundle Home & Auto Policies
Install Security Systems
Update Roof and Electrical Systems
Increase Your Deductible (if affordable)

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Why This Matters

Understanding why your premium increased helps you make informed decisions. Sometimes, a quick policy review can uncover savings opportunities without sacrificing coverage.