Best and cheapest renters insurance in Indiana

Best renters insurance companies in Indiana

When choosing the best renters insurance company in Indiana, make sure you’re comparing on more than just price. We’ve compared quotes, coverage options and J.D. Power scores from all the major insurers in Indiana. Below is our list of best renters insurance companies in Indiana based on that analysis, with our score out of five. Note that USAA only offers coverage to military families.

Company	Average rating(out of 5)
Erie Insurance	4
State Farm	4
American Family	3.5
Farmers	3.5
Nationwide	3.5
USAA	3.5
Allstate	3
Travelers	2.5

Compare the best renters insurance companies in Indiana

Comparing quotes from multiple insurance carriers is one way to ensure you will get your money’s worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for Indiana residents based on their average rates and ratings from J.D. Power. Among the carriers surveyed, Erie Insurance is the best renters insurance company in Indiana. It earned 881 out of 1000 from J.D. Power and has an average renters insurance rate of $279.

The table below offers a detailed comparison of renters insurance companies in Indiana.

Company	J.D. Power Score	Average Annual Premium	AM Best Ratings
Erie Insurance	881	$279	A+
State Farm	844	$168	A++
Nationwide	852	$255	A+
American Family	856	$272	A
Farmers	842	$198	A
USAA	894	$112	A++
Allstate	835	$296	A+
Travelers	835	$516	A++

How much is renters insurance in Indiana

Indiana residents pay an average of $240 a year for renters insurance, and the average monthly cost is $20. 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 will not be the same as a neighbor’s price 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	Average Monthly Premium
$240	$20

Most expensive ZIP codes in Indiana for renters insurance

Several factors affect your renters insurance coverage cost in Indiana, including your location and the coverage you buy. The most expensive ZIP code in Indiana for renters insurance is 46402, where the average annual rate is $308 which is $68 more than the state average insurance premium.

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

ZIP code	Average Annual Rate
46402	$308
46404	$307
46282	$305
46403	$304
46407	$301
46409	$300
46218	$296
46201	$295
46408	$294
46205	$291

Least expensive ZIP codes in Indiana for renters insurance

Renters insurance rates in Indiana are cheaper in some areas. Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in Indiana is 46943, and its average annual rate is $218.

Below, you’ll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP code	Average Annual Rate
46943	$218
46835	$219
46804	$221
46748	$222
46785	$223
46563	$224
46526	$225
46795	$226
46819	$227
46115	$228

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.

City	Annual insurance premium
Bloomington	$233
Carmel	$230
Evansville	$235
Fishers	$230
Fort Wayne	$228
Hammond	$272
Indianapolis	$275
Lafayette	$230
Noblesville	$226
South Bend	$246

Cheap renters insurance in Indiana by company

There are a lot of companies offering renters insurance in Indiana. Among the carriers surveyed by Insurance.com, USAA is the cheapest renters insurance company in Indiana; its average annual premium is $112.

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 best cheap renters insurance companies in Indiana and their average annual premiums.

Company Name	Average Annual Premium
USAA	$112
State Farm	$168
Indiana Farmers	$191
Farmers	$198
Nationwide	$255
American Family	$272
Erie Insurance	$279
Allstate	$296
Indiana Farm Bureau Grp	$360
Auto-Owners	$381
Travelers	$516

Methodology

Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions 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. Content was updated in 2023.