Home Insurance in Kokomo, IN

When you're buying a new home or revising your budget, home insurance in Kokomo, IN, is a critical consideration.
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Keeping Up With Kokomo Living

Kokomo, IN, is a fast-growing city of nearly 60,000 residents as of the 2020 U.S. Census, up from about 45,000 in 2010. If you're among those who live or plan to move here, you can enjoy easy access to both Indianapolis and Chicago, vibrant community life with lots of festivals and events, and many local parks and trails to explore. Home insurance in Kokomo, IN, protects your property so you don't have to worry about the financial fallout of severe weather and other covered events.

The Kokomo Housing Landscape

The low cost of living in Kokomo extends to the city's housing market, with a median home price of just $137,100. That's about 147% lower than the national median value of $338,100 based on data from Sperling's Best Places.

Homes here have a median age of 57, compared to a median of 42 years for the entire U.S., so you may want to set aside funds in your budget for upgrades. Residential properties in Kokomo have increased in value by more than 72% over the past decade.

Concerns for Kokomo Property Owners

Indiana has an elevated risk of storms involving high winds, a common concern for homeowners here. According to the National Weather Service, Kokomo had 18 tornadoes from 1950 to 2015. Home insurance prepares you for the possibility of a severe storm with coverage for wind damage, temporary housing and other related expenses.

It's also important to have home insurance in Kokomo that protects against property crime. According to Sperling's Best Places, the city has a higher-than-average rate of incidents like theft and vandalism, 2.56 per 100 residents compared to 2.11 for the U.S. and 1.97 for Indiana. VIU by HUB can help you find an affordable policy that covers all your valuables.

Average Premiums for Home Insurance in Kokomo, IN

Although most Indiana homeowners pay about $ 2,146 for an annual insurance policy according to MarketWatch, average rates tend to be higher in Kokomo. Homeowners here pay about $2,539, which is also higher than the national average of $2,417 per year.

Many different factors affect the cost of home insurance in Kokomo, IN. Providers may consider your credit score, claims history, home size, home value, local crime rate, geographic location and many other data points. Each insurance company has its own proprietary pricing formula. Fortunately, you can compare costs quickly to find the lowest premiums with VIU by HUB.

Understanding Indiana Homeowner's Coverage

Basic homeowner's policies in Indiana cover three key areas:

  • Damage to the home itself caused by a covered event
  • Liability costs for damage or injury experienced by someone else at your home
  • Damage to or loss of personal property

MarketWatch notes that Indiana residents have an elevated risk of flood damage. You may want to consider an expanded policy that covers flooding depending on exactly where you live in Kokomo. Standard home insurance in Kokomo, IN, excludes this type of damage.

Connect With Great Home Insurance in Kokomo, IN

Home insurance in Kokomo, IN, gives you a way to pay for damage to your home and other catastrophic events. Without the right policy, you could end up with significant out-of-pocket costs to repair damage and replace lost property. Compare rates and terms from multiple providers in minutes with online quotes from VIU by HUB.

This information is intended for general informational purposes only and is not intended to constitute legal advice.



National Weather Service

Sperling's Best Places

U.S. Census Bureau

Home insurance in Indiana by city

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