Average renters insurance cost in Indiana

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Renters in Indiana pay an average of $268 annually – or $22 per month – for a policy with $40,000 in personal property coverage, $300,000 in liability protection, and a $1,000 deductible. For most renters, this is a practical benchmark to start from.

Your actual premium is shaped by the amount of coverage you select, the insurer you go with, and individual factors such as your ZIP code, claims history, and depending on your state – your credit score.

How much does renters insurance cost in Indiana?

The average monthly cost of renters insurance in Indiana is $22 for a policy with $40,000 in personal property coverage and $300,000 in liability protection. Premiums can shift depending on where you live, how much coverage you need, and the total value of your belongings – which is why getting quotes from several insurers is a smart move.

Generally speaking, raising your deductible lowers your monthly premium, while adding coverage for valuables like jewelry or electronics increases it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Indiana: Where to start

Renters insurance in Indiana averages $268 per year, or $22 per month for a standard policy
If you’re looking for the lowest price, State Farm tends to offer the most competitive rates in Indiana, averaging around $176 per year
Since pricing varies widely between providers, it pays to compare a few options before making a decision

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?

At the standard coverage level – $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – renters insurance in Indiana averages $268 per year.

If you reduce your personal property coverage to $20,000, that average drops to around $195 annually. Before making that adjustment, it’s worth confirming that $20,000 would genuinely cover the cost of replacing your belongings.

The table below compares average annual renters insurance costs in Indiana at both the $20,000 and $40,000 coverage levels.

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?

Coverage needs vary from person to person, but a common starting range is $20,000 to $40,000 in personal property protection and at least $300,000 in liability coverage. The right amount ultimately comes down to the value of what you own, whether any of your items warrant separate endorsements, and how much of a financial cushion you want between you and an unexpected loss.

Renters insurance rates in Indiana by city

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How much does renters insurance cost by city in Indiana?

Renters insurance rates in Indiana aren’t the same across the board – where you live within the state can make a noticeable difference. Local factors like crime rates, weather exposure, and population density all influence what insurers charge.

Here’s a look at how average rates compare across major cities in Indiana.

Does your ZIP code affect renters insurance rates in Indiana?

Your ZIP code is one of the biggest factors insurers use to set rates. Local risks like theft, fire and weather claims can drive premiums up or down, so two renters with the same coverage may pay very different prices.

In Indiana, rates range from about $243 in 46943 to $328 in 46282. Here are the cheapest and most expensive ZIP codes for renters insurance in Indiana.

Why your ZIP code affects renters insurance costs

Insurers use local risk data to calculate renters insurance premiums, which means rates can vary significantly by neighborhood and ZIP code.

Factors that affect renters insurance rates include:

Local theft and vandalism rates
Weather risks such as hurricanes, floods, or wildfires
Fire claims and rebuilding costs in your area

Even moving a few ZIP codes away can affect your monthly premium.

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

In Indiana, your ZIP code plays a major role in determining your premiums. Based on our data, 46943 is the most affordable ZIP code for renters insurance, with an average annual cost of $243.

ZIP codes with lower theft rates and fewer severe weather claims tend to have more affordable renters insurance premiums.

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 is the most expensive ZIP code for renters insurance in Indiana, at an average cost of $328 annually or $27 monthly.

Here are the average annual renters insurance rates for every ZIP code in Indiana, based on quotes from major insurers.

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

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

Compare at least 3 quotes – rates for the same coverage can vary by $100+ between insurers in the same ZIP code
Bundle with auto insurance to save 5% to 15% on your renters policy
Ask about safety device discounts for smoke detectors, deadbolts, security systems, and smart-home monitoring
Raise your deductible from $500 to $1,000 to save around 10%
Check claims-free discounts if you haven’t filed a claim in 3+ years

Is renters insurance worth it in Indiana?

For most renters in Indiana, renters insurance is well worth having. It protects your belongings against fire, theft, vandalism, and certain natural disasters, while also providing liability coverage if someone is injured in your home.

According to the US Department of Commerce, the US Census Bureau and American Community Survey â€“ over 48% of renter households in the US spend more than 30% of their income on rent and utilities, which means even smaller ongoing expenses like insurance are worth managing carefully.

Finding the right policy comes down to shopping around. Price matters, but it’s also important to review coverage options, deductibles, and customer satisfaction. Paying slightly more for better coverage can make a real difference when you need to file a claim.

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.