INDIANAPOLIS — Homeowners across Indiana are facing significant increases in home insurance premiums, reflecting a national trend driven by extreme weather events, inflation and rising construction costs.
In neighborhoods like Indianapolis’ historic Woodruff Place, residents are feeling the financial impact. One homeowner in the area saw her annual premium through State Farm climb 18% over the past year, from $2,046 to $2,415.
Since purchasing her 120-year-old home in 2018, her insurance cost has surged by more than 70%. The steep rise in premiums mirrors broader increases in property taxes, labor, and building materials…