How much is renters insurance in Indiana?

The average cost of renters insurance in Indiana is $249 a year, and the average monthly cost is $21. That's for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance may differ from your neighbours because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium$249
Average monthly premium$21
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Best renters insurance companies in Indiana

Indiana Farmers, American Family and Erie Insurance are our best renters insurance companies in Indiana.

Rates differ widely between renters insurance providers, so it pays to shop around. But rates aren’t the entire picture. It’s also important to choose an insurance company with a good reputation so you know it will be there for you when you need it.

To help you choose the best renters insurance in Indiana, we reviewed rates and third-party ratings including complaint volume with the National Association of Insurance Commissioners (NAIC) and financial ratings from AM Best.

Among the carriers surveyed, Indiana Farmers is the best renters insurance company in Indiana, with a top score and an average renters insurance rate of $191.

Below is our list of best renters insurance companies in Indiana based on that analysis, with our score out of five.

CompanyAverage annual premiumAM BestNAICInsurance.com rating
Indiana Farmers$191A0.315
American Family$280A0.374.59
Erie Insurance$296A+0.384.58
Auto-Owners$368A++0.334.52
Farmers$198A0.544.5
Indiana Farm Bureau Grp$465A++0.424.04
Allstate$296A+0.94.01
State Farm$153A++0.953.99
Nationwide$246A+0.873.76
Travelers$549A++0.543.52
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Cheapest renters insurance in Indiana

State Farm is the cheapest renters insurance company in Indiana based on our rate analysis with an average annual premium of $153.

Renters insurance prices can vary drastically between companies. That's why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the cheapest renters insurance companies in Indiana and their average annual premiums.

Company nameAverage annual premium
State Farm$153
Indiana Farmers$191
Farmers$198
Nationwide$246
American Family$280
Allstate$296
Erie Insurance$296
Auto-Owners$368
Indiana Farm Bureau Grp$465
Travelers$549
USAA$112
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Renters insurance calculator

Average renters insurance rates in Indiana
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$20,000
$20,000 $40,000 $60,000
$100,000
$100,000 $300,000
$500
$1,000 $500

Most & least expensive ZIP codes for renters insurance in Indiana

ZIP codeCityHighest rate
46402Gary$312
46404Gary$311
46403Gary$310
46406Gary$310
ZIP codeCityLowest rate
46835Fort Wayne$226
46943Laketon$227
46550Nappanee$228
46738Altona$228
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Indiana renters insurance: The least and most expensive ZIP codes

Where you live in Indiana affects how much you pay for renters insurance. The most expensive ZIP code in Indiana for renters insurance is 46402, where the average annual rate is $312 which is $63 more than the state average insurance premium.

On the other end of the spectrum, the least expensive ZIP code for renters insurance is 46835, with an average annual rate of $226.

The following table lists the least and most expensive ZIP codes in Indiana for renters insurance.

Best home insurance companies in Texas
ZIP codeAverage annual rate
46402$312
46406$310
46282$308
46409$305
46218$301
46408$301
46312$295
46235$294
46201$292
46225$291
ZIP codeAverage annual rate
46835$226
46943$227
46550$228
46628$255
47175$257
47833$259
47535$278
46327$279
46320$280
47878$282

Compare renters insurance rates by city in Indiana

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in Indiana.

CityAnnual insurance premium
Bloomington
$233
Carmel
$230
Evansville
$235
Fishers
$230
Fort Wayne
$228
Hammond
$272
Indianapolis
$275
Lafayette
$230
Noblesville
$226
South Bend
$246
Read our methodology

How to get cheap renters insurance in Indiana

There are a few things you can do to get cheaper renters insurance in Indiana:

  • Shop around. Not every Indiana renters insurance company offers the same rates or discounts. Shop around for the best price.
  • Ask about discounts. There are a lot of discounts available on renters insurance; one of the biggest is bundling your home and auto insurance, so ask for an auto quote at the same time.
  • Chose a higher deductible. Your deductible affects your premiums; higher deductibles mean lower rates. Just ensure you can afford the deductible if you have to pay it.

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

Indiana renters insurance: FAQ

Do I need renters insurance in Indiana?

Renters insurance isn’t required by law, but your landlord may require you to purchase a policy as part of your lease agreement.

How much renters insurance do I need in Indiana?

You don’t need any renters insurance by law, but when buying a policy you should ensure you have enough personal property coverage to cover all of your personal property at replacement cost.

Compare Indiana renters insurance rates with other states

Alabama
$310 /year
Alaska
$233 /year
Arizona
$237 /year
Arkansas
$346 /year
California
$253 /year
Colorado
$175 /year
Connecticut
$265 /year
Delaware
$170 /year
Florida
$230 /year
Georgia
$334 /year
Hawaii
$231 /year
Idaho
$169 /year
Illinois
$227 /year
Iowa
$188 /year
Kansas
$238 /year
Kentucky
$193 /year
Louisiana
$472 /year
Maine
$174 /year
Maryland
$243 /year
Massachusetts
$244 /year
Michigan
$323 /year
Minnesota
$203 /year
Mississippi
$367 /year
Missouri
$210 /year
Montana
$256 /year
Nebraska
$266 /year
Nevada
$233 /year
New Hampshire
$160 /year
New Jersey
$190 /year
New Mexico
$191 /year
New York
$276 /year
North Carolina
$323 /year
North Dakota
$173 /year
Ohio
$231 /year
Oklahoma
$266 /year
Oregon
$266 /year
Pennsylvania
$249 /year
Rhode Island
$473 /year
South Carolina
$272 /year
South Dakota
$188 /year
Tennessee
$272 /year
Texas
$214 /year
Washington, D.C.
$260 /year
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