Average renters insurance cost in Fort Wayne, IN

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In Fort Wayne, renters insurance costs an average of $234 per year for $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible, which is $15 less than the statewide average of $249.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you rent, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

Looking for affordable renters insurance in Fort Wayne? We’ve compared the top companies to help you find the cheapest options.

Key Takeaways

The average cost of renters insurance in Fort Wayne is $234 annually or $20 monthly.
The cheapest option for renters in Fort Wayne is State Farm, offering coverage at $12 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as installing a security system or bundling policies.

What is the average cost of renters insurance per month in Fort Wayne?

On average, renters insurance costs in Fort Wayne are $20 per month. It’s $1 less than the state average of $21. Renters in Fort Wayne pay these rates for a coverage limit of $40,000 in personal property coverage, $1,000 deductible, and $300,000 in liability protection coverage.

Renters insurance rates can vary by city based on your insurer and the amount of coverage you choose. In Fort Wayne, for example, renters pay around $14 per month for $20,000 in personal property coverage with a $1,000 deductible. If you increase your coverage to $40,000, the monthly premium goes up by $6.

If you own high-value items like jewelry, electronics, or designer furniture, it’s a good idea to consider higher coverage limits to make sure you’re fully protected.

How much is renters insurance in Fort Wayne by deductible?

Renters insurance in Fort Wayne costs $177 per year for a $500 deductible and $20,000 in personal property coverage.

Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $12 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$177	$251	$322
$1,000	$165	$234	$302

Note: The liability protection coverage is $100,000.

Who offers affordable renters insurance in Fort Wayne?

State Farm provides the cheapest rates in Fort Wayne, with an annual premium of $144 or $12 per month. Indiana Farmers Insurance is the second-cheapest company, followed by Farmers.

Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$144	$12
Indiana Farmers Insurance	$182	$15
Farmers	$196	$16
Nationwide	$222	$18
American Family	$265	$22
Allstate	$282	$24
Erie Insurance	$308	$26
Auto-Owners	$366	$31
Indiana Farm Bureau	$429	$36
Travelers	$466	$39
USAA	$105	$9

Tips for reducing the cost of renters insurance

Here are some tips to help reduce renters insurance costs in Fort Wayne:

Bundle insurance policies. If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Fort Wayne.

Increase deductible. Opting for a higher deductible can lower your premium in Fort Wayne, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage. Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims. Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around. Don’t settle for the first quote you receive. Compare renters insurance quotes in Fort Wayne from multiple providers to find the best price for the coverage you need.

Renters insurance in Fort Wayne, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Fort Wayne in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.