Indiana Insurance

About Indiana Insurance Laws, Health Insurance and Regulations…


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The Indiana insurance industry is home to more than 179 companies and 1,600 licensed agents.

The industry accounted for approximately $3.8 billion of the Indiana’s gross state product in 2001 and has been continued to grow despite some challenges it has faced in a changing regulatory landscape. The Indiana insurance industry is regulated by the state’s Department of Insurance, which enforces both state and federal standards for business. Regulations exist to ensure that insurance companies and consumers can be free from exploitation and fraud and must be adhered to by both parties.

As in other states, auto insurance is mandatory in Indiana. Because of the various types of auto insurance policies that are available in the state, the Department of Insurance has determined that drivers may carry a minimum level of coverage, which may be more accommodating to those with financial concerns. Drivers in the state must hold at least a minimum level of coverage that accounts for: $25,000 worth of liability coverage for bodily injury of one person; $50,000 worth of liability coverage for all bodily injuries; and $10,000 worth of liability coverage for property damage. Drivers are not required to carry personal injury protection (PIP) coverage.

All new auto insurance policies written in Indiana must contain coverage for uniIndiana Insurancensured and underinsured drivers. Drivers are free to reject this coverage option and have it removed from their policies.

According to the Department of Insurance,  the average cost of auto coverage in the state is $1,593.

The Indiana insurance industry has a strong property sector that provides service to a wide range of consumers and businesses. As in other states, homeowners in Indiana are not required by the state to purchase and maintain property insurance policies. It is advised that homeowners do protect their properties with coverage plans, however, in the case of natural disasters or other loss scenarios. Rates are based on a wide range of factors, but the average cost of homeowners insurance in Indiana is $863 per year. This cost does not include flood or earthquake protection.

Insurance News Update: In 2011, Indiana determined that it would work towards building its own health insurance exchange system. The plans for this system were approved by then-Governor Mitch Daniels through Executive Order #11-01. These plans have since been dismantled by the state’s current Governor, Mike Pence. Indiana now has no plans to develop its own health insurance exchange system.

Indiana boasts of a population of over 6 million, 11% of which currently has no access to affordable health insurance plans. Though the Indiana insurance industry has worked to make plans as accessible as possible for consumers, insurers continue to raise rates on coverage to account for several risk factors and the rising cost of medical care.

Indiana Insurance Resources:

Indiana Insurance Commissioner: Stephen W. Robertson

Indiana Department of Insurance Website: http://www.in.gov/idoi/

Indiana Insurance Licensing Info: http://www.in.gov/idoi/2611.htm

File Insurance Complaint: http://www.in.gov/idoi/2547.htm

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