Terre Haute Homeowners Insurance

Your Complete Guide to Terre Haute, IN Homeowners Insurance

Beautiful home exterior on bright sunny day with green grass and blue sky

Terre Haute, Indiana is located on the eastern bank of the Wabash River, about 75 miles west of Indianapolis. The city’s 170,000 residents enjoy a plethora of festivals, museums, restaurants, and shopping in the newly revitalized downtown area. Terre Haute is also home to Indiana State University as well as several other higher education institutions. 

If you own a home in Terre Haute, homeowners insurance is your financial backup for when something causes damage to your home. It helps you pay for damage and repairs when disaster strikes, or even when you have a small kitchen fire, a break-in, or minor wind damage. An independent insurance agent in the area can help you compare quotes and find the best coverage and price for your needs. 

How Much Does Homeowners Insurance Cost in Terre Haute, IN?

Indiana is the 31st most expensive state for homeowners insurance in the US, and the cost of coverage in Terre Haute is even lower than the state average. 

  • National average yearly premium: $1,173
  • Indiana average yearly premium: $983
  • Terre Haute average yearly premium: $788

Homeowners insurance rates are definitely not one-size-fits-all. Insurance companies determine your rates by looking at your individual home, the risk factors for your neighborhood, and your specific coverage needs. If you live in a ZIP code that has a high crime rate or is highly susceptible to natural disasters, you can expect to pay more than someone living in a safer area. Shopping around for the best rate for a Terre Haute homeowners insurance policy is easy with the help of an independent insurance agent. Independent agents aren’t tied down to one carrier, so they can obtain multiple quotes and help you make an informed choice. 

Homeowners Insurance Covers Your Property

The Indiana climate is characterized by hot summers and cold winters. Severe storms, flooding, snowstorms, and winter freezing can damage your Terre Haute home. You’re likely to need financial backup to pay for repairs in these cases. Your Terre Haute homeowners insurance policy is designed to protect you when fires, severe weather, or other disasters strike. It contains dwelling coverage, which pays for repairing the physical structure of your home. It also contains contents coverage, which pays for repairing or replacing lost or damaged personal property after a covered event. 

  • Number of declared disasters in Indiana: 41
  • Most common reasons for disasters in the state: Severe Storms and Floods
  • Average number of tornadoes per year in Indiana: 24.6
  • Average amount of property damage per year in Indiana: $1,003,810,000
  • 1 in 15 insured US homes has a claim each year

If you’re at risk for flooding, talk to your insurance agent about purchasing flood insurance. Flood insurance is not included in your homeowners policy. A separate flood policy must be purchased from the National Flood Insurance Program (NFIP), with the help of a local independent insurance agent. 

The Importance of Liability Insurance for Terre Haute Homeowners

Homeowners may face claims of negligence at any time. If someone gets hurt on your property or your child or pet causes an injury or property damage, you may need to pay for the injured party’s property repairs or medical bills. What’s more, you could be sued and face extensive legal costs to defend yourself or settle the issue. Your homeowners liability insurance—an essential part of your Indiana homeowners insurance policy—covers the costs of these kinds of lawsuits. It pays for your court costs, attorney fees, and even any settlements or judgments that you are required to pay. 

Some homeowners might want more liability coverage than their homeowners insurance allows. In these cases, a personal umbrella insurance policy offers supplemental liability coverage beyond the limits of your home insurance and car insurance. A local independent insurance agent can help you review your options and compare costs.

Does Terre Haute Homeowners Insurance Offer Coverage for Burglaries?

Terre Haute has a very high home burglary rate compared to the state and national averages. This might contribute to higher-than-average home insurance rates in certain neighborhoods where property crimes are more prevalent.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Indiana: 5.14
  • Number of burglaries per 1,000 homes in Terre Haute: 11.44

It’s important for all Terre Haute residents to protect their homes from burglaries, break-ins, and vandalism. Be sure to install security lights and cameras, use deadbolt locks, and leave your house lights on when you’re away from home. A home security system is one of the best ways to prevent break-ins. It can keep burglars away, alert you when break-ins are attempted, and may even help you get a discount on your home insurance. If you are the victim of a break-in or burglary, your homeowners insurance can help you make repairs and replace your stolen or damaged belongings. And your independent insurance agent will be there to relieve you of some of the burden by helping you through the claims process. 

Insurance Coverage for Second Homes and Vacation Homes 

Second homes can be tricky when it comes to homeowners insurance. A house that is not your primary residence has additional risk factors. Your insurance company may require you to purchase different amounts and types of coverage than you would for your year-round home. Vacation homes are periodically unoccupied. Any home that is vacant for long periods is more susceptible to break-ins, vandalism, and water or ice damage. What’s more, you might not notice the damage for a while, causing it to worsen. Many vacation homes need vacant home insurance in order to be properly protected when something goes wrong. 

Owners of rental properties have a greater chance of being sued by tenants as well as additional liability risks. If you own a rental property, you might require increased liability coverage but less coverage for the contents of the property. Landlord insurance can help you properly cover your rental property. Your local independent insurance agent can help you obtain multiple quotes for your additional residential properties. You can choose the coverage that best fits your needs.

Why Work with an Independent Insurance Agent in Terre Haute?

Independent insurance agents make comparison shopping for homeowners insurance easy. Independent agents work with several different insurance companies, so they can help you find the right coverage for your needs and budget.

Contact an agent in or near Terre Haute for customized quotes now. 


Sources © 2020, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com

© 2020, Consumer Agent Portal, LLC. All rights reserved.

Now, who's ready to get their insurance problems solved?