Average cost of condo insurance in Indianapolis

The average cost of condo insurance (HO-6) in Indianapolis is $570 per year, which is $47 per month, for a coverage level of $40,000 for personal property and liability protection of $100,000 with a $1,000 deductible.

However, insurance rates vary depending on your location in the city, the company and the coverage limits. The highest average rate for condo insurance in Indianapolis is $1,657, $1,440 more than the lowest average rate of $217.

Average annual costAverage per month costHighest average rateLowest average rate
$570$47$1,657$217
Data updated in 2024
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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.

CompanyAverage annual premiumAverage 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
Data updated in 2024
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Condo insurance cost in Indianapolis compared with the state average

Condo insurance costs an average of $570 per year in Indianapolis. That's $64 more expensive than the state average of $506.

City average costState average cost
$570$506
Data updated in 2024
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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.

CoverageAverage annual rateAverage per month rate
$40,000$570$47
$60,000$647$54
$80,000$719$60
$100,000$792$66
Data updated in 2024
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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.

CoverageAverage annual rateAverage per month rate
$40,000$585$49
$60,000$664$55
$80,000$737$61
$100,000$812$68
Data updated in 2024
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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 2024.