How Much Does Home Insurance Cost in Bloomington, Indiana

Nate Jones, CPCU, ARM, CLCS, AU
Jan 14
2 min read

If you’re a homeowner in Bloomington, Indiana, understanding home insurance costs is key to protecting your investment while staying within budget. Premiums vary depending on your home’s value, location, age, and risk factors. Working with a local agency like Wexford Insurance can help you find competitive rates and the right coverage.

This guide explains what affects home insurance pricing, what coverage you need, and how Bloomington homeowners can save.

Factors Affecting Home Insurance Costs in Bloomington

Several factors influence how much you’ll pay for home insurance in Bloomington:

Home Value and Size – Larger or more expensive homes require higher coverage.
Age and Condition of Home – Older homes may have higher premiums due to increased risk of damage.
Location – Homes near flood zones or in high-traffic areas may cost more to insure.
Coverage Limits and Deductibles – Higher limits increase premiums; higher deductibles reduce them.
Claims History – Past claims on the property or homeowner history can impact rates.
Security Features – Burglar alarms, smoke detectors, and storm-resistant construction can lower premiums.

For official guidance on homeowners insurance in Indiana, check the Indiana Department of Insurance website.

Average Home Insurance Costs in Bloomington

While rates vary widely, the average home insurance premium in Bloomington ranges from $900 to $2,000 per year, depending on coverage and property characteristics.

Keep in mind: The cheapest policy is not always the best. Comprehensive coverage for your dwelling, personal property, liability, and additional living expenses is essential.

Necessary Home Insurance Coverages in Bloomington

When comparing policies, ensure your coverage includes:

Dwelling Coverage – Protection for the home’s structure
Personal Property Coverage – Covers belongings like furniture, electronics, and clothing
Liability Insurance – Protects against lawsuits for injuries on your property
Loss of Use Coverage – Pays for temporary living expenses if your home is uninhabitable
Other Structures Coverage – Covers detached structures like garages or sheds

Wexford Insurance — **REQUEST A FREE INSURANCE QUOTE**

How to Save on Home Insurance in Bloomington

Compare Multiple Quotes – Independent agencies like Wexford Insurance can provide quotes from multiple insurers.
Bundle Policies – Combining home and auto insurance often qualifies for discounts.
Increase Deductibles – Higher deductibles reduce your monthly premium, but ensure you can cover it if needed.
Maintain Your Home – Updated wiring, roofing, and plumbing can lower premiums.