Best Renters Insurance in Indiana (2025)
Renters insurance provides worthwhile protection at a relatively affordable price point.
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Written bySarah Sharkey
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7+ years writing insurance and personal finance content
Contributor to top media, including USA Today
A passionate personal finance advocate, Sarah’s writing has graced the pages of many of the personal finance and insurance industries’ top web publications.
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Edited byKatie Powers
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Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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Table of contents
Renters insurance can protect your personal items during covered events. For example, a renters insurance policy might help you replace your belongings after a fire or theft. Many policies also provide liability protection for unforeseen accidents.
Although Indiana state law doesn’t require renters insurance, your landlord might require you to buy it. Here’s what you should know about renters insurance in Indiana.
Quick Facts
In Indiana, a renters insurance policy with $30,000 in personal property coverage and $100,000 in personal liability coverage costs an average of $221 per year, or $18 per month.
Renters insurance usually includes personal property, personal liability, additional living expenses, and medical expenses coverage.
Renters insurance doesn’t cover the building you live in, but it does cover your personal belongings. Your landlord should have landlord insurance to cover the actual building structure.
How renters insurance works in Indiana
Indiana law doesn’t require renters insurance. But landlords often require tenants to purchase this type of coverage, also called tenant insurance. Generally, renters insurance policies include personal property coverage, liability coverage, medical expenses insurance, and additional living expenses coverage.[1]
If you experience a covered event that damages your personal belongings, you can file a claim with the insurance company to help you recoup your losses. For example, if someone steals your TV, you can file a renters insurance claim with your insurance company to cover the cost of the loss.
Here’s a look at how you purchase and use a renters insurance policy:
Shop around for renters insurance. Compare quotes and coverage options to help you find the right policy for your situation and coverage needs.
Purchase coverage. When you find a suitable policy, finalize how much coverage you want and purchase the policy. Most insurers allow you to complete this process online.
File a claim. If you experience a loss due to a covered event, you can file a claim with the insurance company. You’ll have to provide details about the incident. Once your insurer finalizes the claim, you’ll receive a payout based on your loss and policy details.
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Best renters insurance companies in Indiana
Some of the best renters insurance companies in Indiana include State Farm, Lemonade, Amica, Progressive, and Allstate. Both Erie and State Farm earned above-average ratings in the J.D. Power 2024 U.S. Home Insurance Study. Additionally, all the companies below have affordable average premiums.
Although these companies tend to offer top-tier options, the right insurance company for you varies based on your unique situation. The monthly premiums below reflect average costs nationwide.
Insurance Company ▲▼ | Average Monthly Premium ▲▼ | Best For ▲▼ |
|---|---|---|
| State Farm | $19 | Discounts |
| American Family | $15 | Cheap rates |
| Erie | $15 | Top-tier customer satisfaction |
| USAA | $18 | Military families |
| Allstate | $18 | Ample bundling options |
What renters insurance covers in Indiana
A standard renters insurance policy usually covers personal property, loss of use, personal liability, and medical payments. For example, if a tornado damages your apartment and everything in it, a renters insurance policy would help replace your personal property and cover your short-term living expenses.
Here’s a closer look at what renters insurance covers:
Personal property
Personal property coverage protects your personal belongings, like clothing and electronics, against loss. If a covered event causes damage or loss to your items, your insurer helps pay to replace the items with this coverage.
Additional living expenses
If a covered event renders your rental unlivable, your additional living expenses coverage — also known as loss of use coverage — can help you pay for living expenses.
Personal liability
If you cause an accident that causes injuries or damages to another person, personal liability coverage helps pay your legal bills and compensates the party you unintentionally harmed.
Medical payments
Medical payments insurance can cover medical expenses following covered incidents.[2]
Unique considerations for renters insurance in Indiana
Renters insurance can come in handy for Indiana residents — especially if renters include natural disaster coverage. The state is susceptible to many natural disasters, including the following:
Earthquakes: It’s possible for earthquakes to occur in Indiana. A standard renters insurance policy generally won’t cover earthquake damage. Instead, you’ll need to purchase this optional coverage.
Tornadoes: Most renters insurance policies cover tornado damage. But make sure to read the fine print of your policy to confirm you have coverage for this type of disaster.
Flooding: In general, renters insurance policies don’t cover flood damage. Instead, you’ll need to add this type of coverage separately.
As you compare renters insurance options across Indiana insurance companies, take a careful look at policy options for renters to find the best coverage for your concerns.
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How to save on renters insurance in Indiana
Use the following strategies to help you save money on renters insurance in Indiana:
Shop around. Finding cheap renters insurance is possible. Comparing rates from multiple insurance companies can help you find the best renters insurance policy for your situation.
Bundle your insurance policies. If you need to purchase other types of insurance, like auto insurance or life insurance, bundling these coverages with your renters insurance policy can earn you a discount from your insurer.
Increase your deductible. Setting a higher deductible generally leads to lower insurance premiums. If you can afford it, consider paying a higher deductible to earn lower rates.
Install security systems. Many insurers offer renters insurance discounts to renters who install a security system since this lowers your chance of a break-in.
Install a smoke detector. Having an operational smoke detector could help earn you a discount.[3]
Renters insurance in Indiana FAQs
The following information can help answer your remaining questions about renters insurance in Indiana.
Does Indiana require renters insurance?
Indiana law doesn’t require tenants to purchase renters insurance. But landlords might require tenants to carry some level of renters insurance per the lease agreement for your rental home or apartment.
How much is renters insurance in Indiana?
A renters insurance policy in Indiana with $30,000 in personal property coverage and $100,000 in personal liability coverage costs an average of $18 per month, or $221 per year, Insurify data shows.
How much renters insurance do you need in Indiana?
Indiana insurance laws don’t require renters insurance. In some cases, your landlord may require coverage. The exact amount of renters insurance coverage you need varies based on your unique situation. A common amount of coverage is $30,000 in personal property coverage and $100,000 in personal liability coverage.
How do you file a claim for renters insurance in Indiana?
If you need to file a claim for renters insurance in Indiana, reach out to your insurance company. You’ll need to provide your insurer with details about your policy and the incident.
What does renters insurance cover?
Renters insurance typically covers personal property, personal liability, additional living expenses, and medical payments coverage.
Sources
- Insurance Information Institute. "Your renters insurance guide."
- Progressive. "Indiana renters insurance."
- Insurance Information Institute. "Renters Insurance."
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Sarah SharkeyInsurance Writer
Sarah Sharkey is a personal finance writer who enjoys helping people make savvy financial decisions. She covered insurance and personal finance topics. You can find her work on Business Insider, Money Under 30, Rocket Mortgage, Bankrate, and more. Connect with her on LinkedIn.
Sarah has been a contributor at Insurify since September 2022.
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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