Average cost of condo insurance in Indianapolis
The average cost of condo insurance (HO-6) in Indianapolis is $570 per year, or $47 per month for $40,000 in personal property coverage and $100,000 in liability protection with a $1,000 deductible.
However, the cost of condo insurance can vary depending on where you live in the city, the insurance company, and the coverage limits you choose. The highest average rate in Indianapolis is $1,657, which is $1,440 more than the lowest average rate of $217.
| Average annual cost | $570 |
| Average per month cost | $47 |
| Highest average rate | $1,657 |
| Lowest average rate | $217 |
Cheapest condo insurance in Indianapolis
The cheapest condo insurance company in Indianapolis is Indiana Farmers at an average annual rate of $261. The second-cheapest option is State Farm with an average yearly rate of $323.
Of course, these rates are averages, so it's important to shop around and compare rates for your needs.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Indiana Farmers | $261 | $22 |
| State Farm | $323 | $27 |
| Allstate | $350 | $29 |
| Erie Insurance | $371 | $31 |
| Farmers | $469 | $39 |
| American Family | $503 | $42 |
| Auto-Owners | $613 | $51 |
| Nationwide | $644 | $54 |
| Indiana Farm Bureau Grp | $745 | $62 |
| Travelers | $992 | $83 |
| USAA | $677 | $56 |
Condo insurance cost in Indianapolis compared with the state average
The average cost of condo insurance in Indianapolis is $570 per year. That is $64 more than the state average of $506.
| City average cost | $570 |
| State average cost | $506 |
Condo insurance cost in Indianapolis by coverage level
Many factors affect the cost of your HO-6 insurance. One is the area you live in, and another important factor is how much personal property coverage you choose. Generally, the higher your coverage limit, the more expensive your condo insurance will be.
For instance, the average annual rate for personal property coverage of $40,000 is $570 or $47 per month.
Condo insurance rates in Indianapolis with $100,000 liability
The following table shows the cost of condo insurance for four coverage levels with a liability limit of $100,000 and $1,000 deductible.
| Coverage | Average annual rate | Average per month rate |
|---|---|---|
| $40,000 | $570 | $47 |
| $60,000 | $647 | $54 |
| $80,000 | $719 | $60 |
| $100,000 | $792 | $66 |
Condo insurance cost in Indianapolis with $300,000 liability
The following table shows the cost of condo insurance for four coverage levels with a liability limit of $300,000 and $1,000 deductible.
| Coverage | Average annual rate | Average per month rate |
|---|---|---|
| $40,000 | $585 | $49 |
| $60,000 | $664 | $55 |
| $80,000 | $737 | $61 |
| $100,000 | $812 | $68 |
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Information Services from 2023 for around 29,000 cities in all states and Washington D.C for multiple coverage levels. The content has been updated for 2025.
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