Indiana FAIR Plan: what it covers, what it costs, who qualifies

Does Indiana have a FAIR Plan?

Yes. Indiana's FAIR Plan is the Indiana Basic Property Insurance Underwriting Association (Indiana FAIR Plan), official site www.indianafairplan.com ↗. It exists as the insurer of last resort for property owners who can't get coverage in the standard ("admitted") market.

What does it cover?

Dwelling Fire DP-1 Basic: fire, lightning, extended coverage (windstorm/hail, explosion, riot, aircraft, vehicles, smoke). Dwelling Fire DP-2 Broad: adds additional named perils. Homeowners HO-8 Modified/Basic: limited named perils. Homeowners HO-2 Broad: broader named perils, personal liability ($100,000), and medical payments ($1,000). Commercial CP 00 99. Optional earthquake and mine subsidence endorsements. Does NOT include flood. Settlement on actual cash value basis.

How much will it cover?

The current cap on a single dwelling policy is $250,000 combined building and contents (residential); $1,000,000 combined building and contents (commercial) (Indiana Basic Property Insurance Underwriting Association, verified 2026-05-11).

Who is eligible?

Must have received declination of coverage by at least 3 non-related insurance companies. At renewal, must again show proof of 3 declinations from different carriers within the prior 60 days. Property must be a dwelling or commercial structure in Indiana and meet IBPIUA underwriting standards. Vacant buildings are ineligible unless under active renovation to be completed within 90 days.

How do you apply?

Through a licensed Indiana independent insurance agent, or via the online application system at infairplan.onaipso.com. Contact IBPIUA: 317-692-0559 (general/agents). Address: 3502 Woodview Trace, Suite 100, Indianapolis, IN 46268.

Need a broker who writes the IN FAIR Plan? →

How much does it cost?

Generally more expensive than the standard market for narrower coverage; last resort, not a price-competition fallback. Indiana's FAIR Plan is very small (approximately 660-810 residential policies), suggesting most Indiana properties remain insurable in the standard market.

What is changing right now?

Residential policies in force: ~1,183 (2018) declining to ~660 (2022) -- a 41.5% decrease -- with uptick to ~692 (2023) and approximately 810 per III FY2024 reporting. Total exposure approximately $1.8 million per III FY2024 (figure appears anomalously low -- likely a reporting unit issue; treat as unverified). Indiana SB 338 (2025) requires the Department of Insurance to submit annual reports on the Indiana FAIR Plan. Indiana SB 24 (2025) proposed (status unconfirmed) a 10% rate-increase cap per year. The FHCCI's June 2025 report 'The Insurance Crisis Hits Home' examined Indiana's insurance challenges.

Do you also need a wrap (DIC) policy?

typical

What to do this week if you just got a non-renewal notice

1. Read the notice fully. Note the cancellation date — that's your runway.
2. Call your current agent and ask why. Some non-renewals are reversible (a minor issue, a missed inspection); most aren't.
3. Get quotes from at least three other admitted carriers before going to the FAIR Plan. If you're rural / WUI / coastal you may strike out; that's normal.
4. If admitted carriers decline, contact a broker who writes the Indiana Basic Property Insurance Underwriting Association (Indiana FAIR Plan). They can submit on your behalf the same week.
5. Don't let coverage lapse. A lapse triggers force-placed insurance from your lender — much more expensive and worse coverage.

For the full playbook see I just got a non-renewal notice →