Home Insurance in Gary, IN, Indiana
Protect your largest asset with comprehensive home insurance in Gary, Indiana.
As a booming steel town, Gary was once a vibrant urban center. Today, the city is trying to revitalize itself as the population has decreased over the past 50 years due to the decline of industrial jobs in the area. As part of its renaissance, a Hard Rock Casino opened in 2021 with hopes of bringing life back to the city. Whether you're a long-term resident or buying your first home in the city, make sure to protect your property with home insurance in Gary, Indiana. VIU by HUB can help you find a policy that suits your insurance needs.
The population in Gary is about 70,000 people, making it the 11th largest community in Indiana. In the 1930s, the population exceeded 100,000. Homes are very affordable in Gary, as the median home value is $70,400. Approximately 49% of residents in Gary own their home. Unemployment is high in Gary, at around 13%, but homes have appreciated by around 9.8% over the past 10 years. The cost of living is lower in Gary than in most of the country, which can help your dollars go farther. Finding affordable home insurance in Gary, Indiana, keeps your housing costs within your budget.
Gary sits at the southern end of Lake Michigan. The city averages around 25 inches of snowfall each year. Lake effect snow can drop an intense amount of snow in just a few hours, which can significantly stress the exterior of your home. This phenomenon occurs in the late fall and winter. The winds that come off the lake are especially damaging to your property. Maximum wind speeds are higher now than 30 years ago, so the risk of severe wind damage is increasing. Although Gary is considered an urban community, about 28% of homes are at risk of a wildfire over the next 30 years. Homeowners insurance protects your financial future by covering some of the biggest risks to your home.
Home insurance rates vary in cost, so it's important to find a policy that suits your needs and fits your budget. The average cost of home insurance in Gary, Indiana, is $1,985. If you have a lower credit score, your price may increase. Insurance rates can also vary based on the location of your home, even within the same city. A neighborhood that experiences more crime may pay more for insurance than other neighborhoods. If your home sits in a flood plain, you may want to purchase flood insurance, which is not included in a regular homeowner's insurance policy. It's important to understand which perils are covered under your insurance policy and what isn't covered so that you can make good decisions about your insurance.
Home insurance isn't required by law, but most lenders do require a policy if you have a mortgage. Even if you don't have a mortgage, a home insurance policy is a good idea to help cover the costs of repairs after your home is damaged by a covered peril. VIU by HUB makes shopping for home insurance in Gary, Indiana, easier. Our unbiased advisors help you compare insurance policies to ensure that you're getting the best rates based on your needs.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
