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Condo insurance isn’t required by law in Indiana, but your mortgage company likely requires it. Condo insurance is a home insurance policy that covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Depending on your HOA’s rules, your condo insurance may cover not only personal property, but also provides dwelling coverage known as building property coverage, for the interior of the structure. Make sure you know how much condo insurance you need before you buy condo insurance.

To find the best condo insurance in Indiana, we’ve gathered data on the top companies. Below you’ll find a list of the best condo insurance companies in Indiana with average annual rates.

Key takeaways

  • The residents of Indiana pay an average of $558 per year for condo insurance for a coverage level of $60,000 for personal property, $300,000 for liability protection with a $1,000 deductible.
  • Based on the analysis by Insurance.com, State Farm is the top pick for the best condo insurance company in Indiana.
  • State Farm offers the cheapest condo insurance in Indiana at an average of $291 per year.

Best condo insurance companies in Indiana

In Indiana, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction ratings of major insurers in Indiana. Below are the best condo insurance companies in Indiana based on Insurance.com’s analysis.

CompanyJ.D. Power ScoreAM Best RatingAverage rating (out of 5)
State Farm829A++
4.3
USAA884A++
4.2
Allstate815A+
3.8
Erie Insurance827A+
3.6
Auto-Owners825A++
3.4
American Family842A
3.4
Nationwide816A+
3.2
Farmers792A
2.9
Travelers794A++
2.6

Average cost of condo insurance in Indiana

The average cost of condo insurance in Indiana is $558 a year or $47 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average Annual PremiumAverage Monthly Premium
$558$47

CONDO INSURANCE CALCULATOR

Average condo insurance rates in INDIANA

$60,000
$1,000
$100,000
46402 - Gary
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $762

HIGHEST RATE: $2,249 LOWEST RATE: $178

Most & least expensive zip codes for condo insurance in Indiana

Most Expensive

Zip CodeCityHighest Rate
46236Indianapolis$843
46222Indianapolis$825
46201Indianapolis$823
46202Indianapolis$821

Least Expensive

Zip CodeCityLowest Rate
46769Linn Grove$609
47654Mackey$612
47683Somerville$612
47545Ireland$615

Condo insurance rates by company in Indiana

Rates for condo insurance by company in Indiana vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in Indiana. The cheapest company for condo insurance in Indiana is State Farm. Indiana Farmers, and Allstate, are the second and third cheapest options.

CompanyAverage Annual Rate
State Farm$291
Indiana Farmers$291
Allstate$296
Farmers$419
Erie Insurance$447
American Family$529
Indiana Farm Bureau$557
Nationwide$593
Auto-Owners$689
USAA$701
Travelers$892

Methodology

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2023.

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