Renters insurance in Indiana: Cost, best companies and how to save

What is the average cost of renters insurance in Indiana?

The average cost of renters insurance in Indiana is $249 per year. Rates vary depending on factors like your location, the amount of coverage you choose, your deductible, and your claims history.

"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 company in Indiana: Indiana Farmers

Indiana Farmers ranks as the best renters insurance company in Indiana, earning a top score among the carriers we surveyed. Its average rate is $191 per year.

American Family and Erie Insurance are also among the top insurance companies for renters insurance in Indiana.

Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.

To help you find the best renters insurance in Indiana, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.

Here are the best renters insurance companies in Indiana.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
Indiana Farmers	$191	A	0.31	5
American Family	$280	A	0.37	4.59
Erie Insurance	$296	A+	0.38	4.58
Auto-Owners	$368	A++	0.33	4.52
Farmers	$198	A	0.54	4.5
Indiana Farm Bureau Grp	$465	A++	0.42	4.04
Allstate	$296	A+	0.9	4.01
State Farm	$153	A++	0.95	3.99
Nationwide	$246	A+	0.87	3.76
Travelers	$549	A++	0.54	3.52

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Cheapest renters insurance in Indiana

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

Since renters insurance rates vary significantly from one provider to another, comparing quotes is the best way to find affordable coverage that fits your needs.

Below is the list of the cheapest renters insurance companies in Indiana and their average annual premiums.

Company name	Average 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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Indiana renters insurance: The least and most expensive ZIP codes

Your location in Indiana directly impacts the cost of renters insurance. The most expensive ZIP code in Indiana is 46402, with an average annual premium of $312. This amount is $63 more than higher than the state average.

On the other hand, 46835 is the least expensive ZIP code for renters insurance with an average annual premium of $226 a year.

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Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
46402	$312
46406	$310
46282	$308
46409	$305
46218	$301
46408	$301
46312	$295
46235	$294
46201	$292
46225	$291

ZIP code	Average annual rate
46835	$226
46943	$227
46550	$228
46628	$255
47175	$257
47833	$259
47535	$278
46327	$279
46320	$280
47878	$282

Renters insurance cost in Indiana by city

Renters insurance rates vary widely across cities in Indiana, driven by factors such as weather risks, crime rates, and other factors. To find the best deal in your city, you should consider these factors and compare quotes from multiple insurers before choosing a policy.

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

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How to save on renters insurance in Indiana

There are several easy ways to lower the cost of renters insurance in Indiana without losing necessary coverage:

Bundle your policies. Many insurance companies offer a discount if you buy renters and auto insurance together.
Increase your deductible. Choosing a higher deductible will lower your monthly or yearly premium; just ensure you can afford it.
Ask about discounts. Most providers offer savings for things like smoke alarms, security systems, or being claims-free.
Compare quotes. Prices can vary widely between companies, so getting quotes from multiple insurers can help you find the best deal.
Pay annually. Some insurers offer a small discount if you pay once a year instead of monthly.

Methodology

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.

FAQ: Indiana renters insurance

Do I need renters insurance in Indiana?

You do not legally require renters insurance, but your landlord may require you to carry 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.