Average renters insurance cost in Indiana

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Renters insurance in Indiana costs an average of $268 per year, or $22 per month. That’s for a standard policy with $40,000 in personal property coverage, $300,000 in liability protection, and a $1,000 deductible – a solid starting point for most renters.

Your actual rate depends on how much coverage you choose, which insurance company you go with, and personal factors like your ZIP code, claims history, and in some states, credit score

How much does renters insurance cost in Indiana?

Renters insurance in Indiana costs an average of $22 per month for a standard policy with $40,000 in personal property coverage and $300,000 in liability protection. Your actual premium can vary based on your location, coverage level, and the value of your belongings, so it’s worth comparing quotes from multiple insurers to find the best rate.

As a general rule, opting for a higher deductible can bring your monthly costs down, while adding extra coverage for high-value items like electronics or jewellery will push it up. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Indiana: Where to start

The average cost of renters insurance in Indiana is $268 per year, or $22 per month for a standard policy
For the most affordable option, State Farm offers the lowest average rates in Indiana at around $176 annually
Rates vary quite a bit between insurers, so comparing a few quotes before committing is worth the effort

Which companies offer the cheapest renters insurance in Indiana?

State Farm offers the most affordable renters insurance in Indiana, with an average annual cost of $176. Indiana Farmers Insurance and Nationwide are also worth considering if you’re looking to keep costs down.

Choosing the cheapest insurer isn’t always the best option, so it’s important to review coverage limits, deductibles, and available discounts alongside price. The table below shows average annual and monthly rates from a range of insurers in Indiana.

Company	Average annual rate	Average monthly rate
State Farm	$176	$15
Indiana Farmers Insurance	$235	$20
Nationwide	$240	$20
Farmers	$289	$24
American Family	$311	$26
Allstate	$323	$27
Erie Insurance	$343	$29
Auto-Owners	$407	$34
Travelers	$657	$55
USAA*	$126	$11

*USAA is only available to military community members and their families.

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history, and other rating factors.

Renters insurance calculator in Indiana

$247/year

Estimated renters insurance rates in Indiana

$21

Monthly renters insurance cost in Indiana

-9%

Compared to national average

How much does renters insurance cost by coverage level in Indiana?

The average annual cost of renters insurance in Indiana is $268, with a personal property coverage limit of $40,000, $300,000 in liability coverage and a $1,000 deductible.

However, if you lower your personal property coverage from $40,000 to $20,000, you can expect to pay $195 a year for renters insurance in Indiana. Make sure $20,000 is enough to cover your belongings before deciding to adjust your coverage.

The table below shows average annual renters insurance premiums in Indiana for personal property coverage of $20,000 and $40,000.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$189	$16
$20,000 with $500 Deductible and $300,000 Liability	$209	$17
$20,000 with $1,000 Deductible and $100,000 Liability	$175	$15
$20,000 with $1,000 Deductible and $300,000 Liability	$195	$16
$40,000 with $500 Deductible and $100,000 Liability	$265	$22
$40,000 with $500 Deductible and $300,000 Liability	$286	$24
$40,000 with $1,000 Deductible and $100,000 Liability	$247	$21
$40,000 with $1,000 Deductible and $300,000 Liability	$268	$22
$60,000 with $500 Deductible and $100,000 Liability	$339	$28
$60,000 with $500 Deductible and $300,000 Liability	$363	$30
$60,000 with $1,000 Deductible and $100,000 Liability	$318	$26
$60,000 with $1,000 Deductible and $300,000 Liability	$341	$28

People also ask: How much renters insurance coverage do I need?

Most renters need enough coverage to replace their personal belongings and protect against liability claims. A common starting point is $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. That said, the right amount really depends on the value of what you own, any endorsements you might add for higher-value items, and how much risk you’re comfortable carrying yourself.

How much does renters insurance cost by city in Indiana?

Renters insurance premiums can differ depending on where in Indiana you live. Factors like local crime rates, weather patterns, and the density of the area all play a part in what insurers charge.

Here’s how average renters insurance rates compare across major cities.

Renters insurance rates in Indiana by city

See rates in your city

Does your ZIP code affect renters insurance rates in Indiana?

When it comes to pricing renters insurance, your ZIP code carries a lot of weight. Insurers look at the risk profile of your specific area – including local theft levels, weather exposure, and claims history – to determine your rate. Two renters with identical policies can pay very different premiums simply because of where they live.

Across Indiana, annual premiums range from around $243 in 46943 to $328 in 46282. The cheapest and most expensive ZIP codes in Indiana are listed below.

Why your ZIP code affects renters insurance costs

Renters insurance premiums are calculated using localized risk data, so rates can vary considerably depending on your neighborhood and ZIP code.

Factors that influence pricing include:

Local rates of theft and vandalism
Exposure to weather events such as wildfires, floods, or hurricanes
Fire incident history and repair costs in your area

A change of just a few ZIP codes can meaningfully affect your monthly rate.

What are the most affordable ZIP codes for renters insurance in Indiana?

Among all ZIP codes in Indiana, 46943 has the lowest average annual renters insurance rate at $243.

Lower theft rates and fewer weather-related claims are the main drivers behind more affordable premiums in these areas.

ZIP code	City	Average annual rate	Average monthly rate
46943	Laketon	$243	$20
46835	Fort Wayne	$244	$20
46748	Perry	$247	$21
46590	Winona Lake	$247	$21
46714	Bluffton	$248	$21
46032	Carmel	$248	$21
46761	Clearspring	$248	$21
46738	Garrett	$248	$21
46765	Leo-Cedarville	$248	$21
46544	Mishawaka	$248	$21

What are the least affordable ZIP codes for renters insurance in Indiana?

46282 carries the highest average renters insurance cost in Indiana at $328 per year, or $27 per month.

Below are average annual renters insurance rates for every ZIP code in Indiana.

How to lower your renters insurance, even in a high-cost ZIP code

Compare quotes from a minimum of 3 insurers – pricing for the same coverage can vary by over $100 within a single ZIP code
Bundle renters and auto insurance with the same provider to unlock savings of 5% to 15%
Look into discounts tied to safety features. Smoke detectors, deadbolts, security cameras, and smart home systems can all qualify
Consider raising your deductible to $1,000 if it’s currently $500 – the savings can be around 10% annually
Ask your insurer about claims-free discounts if you’ve gone 3 or more years without filing

ZIP code	City	Average annual rate	Average monthly rate
46282	Indianapolis	$328	$27
46402	Gary	$325	$27
47617	Hatfield	$308	$26
47439	Koleen	$308	$26
47880	Shepardsville	$308	$26
46393	Wheeler	$308	$26
47654	Mackey	$307	$26
47863	New Goshen	$307	$26
46355	Leroy	$306	$26
47878	Seelyville	$306	$26

Is renters insurance worth it in Indiana?

For most renters in Indiana, a renters insurance policy protects your belongings from risks like fire, theft, vandalism, and certain weather events, and shields you from liability if someone is injured inside your home.

According to figures from the US Department of Commerce, the US Census Bureau, and the American Community Survey, approximately 48% of US renter households allocate more than 30% of their income toward rent and utilities. When housing already takes up a large share of your budget, it’s worth being thoughtful about every ongoing cost – including insurance.

Shopping around makes a real difference. Beyond price, look at what each policy actually covers, what the deductible is, and how the insurer performs when claims are filed. Slightly higher premiums can be worthwhile if the coverage is meaningfully better.

Frequently asked questions

What does renters insurance actually cover?

A standard renters insurance policy covers personal belongings, liability, and additional living expenses if your rental becomes unlivable. It protects against losses from events like fire, theft, and vandalism, and can cover legal or medical costs if someone is hurt on your property. Always check the specific limits and exclusions in any policy you’re considering.

Do I really need renters insurance in Indiana?

While renters insurance isn’t legally required in most cases, it provides real financial protection that’s hard to replicate otherwise. Even a basic policy can cover thousands of dollars in losses from theft, fire, or accidental damage – costs that would otherwise come straight out of pocket. Many landlords in Indiana also make renters insurance a condition of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.