Best Renters Insurance in Indiana (2026)

Lemonade, Erie and State Farm are the top-rated renters insurance companies in Indiana based on their affordability, coverage and customer experience scores.

Find out if you're overpaying for renters insurance below.

Written by Mark Fitzpatrick

Updated: March 10, 2026

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Key Takeaways: Indiana Renters Insurance

Lemonade is Indiana's best overall renters insurance company, earning a 4.8 out of 5 MoneyGeek score.

At $83 annually, USAA offers the most affordable renters insurance premiums statewide for eligible military members.

Get quotes from several insurers to find the most competitive rates matching your coverage needs.

5 Best Renters Insurance Companies in Indiana

Lemonade tops Indiana's renters insurance market, with a MoneyGeek score of 4.8 out of 5. Erie comes in second, scoring 4.8 overall and excelling in customer experience. State Farm, Nationwide and Westfield complete the top five.


Lemonade	4.76	2	8	5
Erie Insurance	4.76	10	1	2
State Farm	4.73	4	3	7
Nationwide	4.63	3	7	9
Westfield Insurance	4.63	8	10	1

*Our ratings consider different combinations of coverage levels and renter details to identify the best overall options. Rankings may differ based on your profile.

Lemonade

Top Choice for Indiana Renters

MoneyGeek Rating

4.8/ 5

4.9/5Affordability

4.7/5Customer Experience

4.4/5Coverage

Average Annual Premium
$103
Average Monthly Premium
$9
J.D. Power Renters Insurance Customer Satisfaction Score
661/1,000

pros
- Cheapest rates in Indiana at $8.56 monthly
- Ranked #1 overall insurer with top customer experience
- Saves you $75 annually compared to the state average
cons
- Coverage options rank lower than some competitors
- Digital-first approach means no local agent support
- Limited traditional insurance company experience
Scoring 4.8 out of 5, Lemonade earns our top recommendation for renters in Indiana. The company leads in multiple categories while charging rates under the state average. You'll get rapid claim approvals through Lemonade's AI-powered digital process that handles payouts directly through their app.

Compare the Cheapest Renters Insurance Companies in Indiana

USAA charges the cheapest renters insurance in Indiana at $83 per year for $20,000 in personal property coverage, saving renters $95 compared to the state average of $178 annually. Lemonade comes in second at $103 per year, though coverage is limited to military members, veterans and their families. Nationwide costs $129 and has statewide availability. All eight cheapest insurers charge below the state average, with rates from $83 to $186 per year, making cheapest renters insurance accessible across Indiana.

Cheapest Renters Insurance in Indiana Chart

Average Cost of Renters Insurance in Indiana

Indiana renters pay $178 per year on average for renters insurance, $18 below the national average cost of renters insurance of $196. This reflects coverage with $20,000 in personal property protection, $100,000 in liability limits and a $500 deductible.

Your premium varies by coverage limits, deductible choice and where you live within the state.


IN	$178	$-18

Indiana's renters insurance costs vary by up to $42 across cities. Indianapolis charges the highest average premium at $204 per year, $12 above the state average, while Butler has the lowest rates at $162 annually, $30 less than the state average of $192.
Butler $162 $-16
Elkhart $167 $-10
Evansville $163 $-14
Fort Wayne $165 $-12
Goodland $169 $-9
Indianapolis $204 $27
South Bend $182 $4


Butler	$162	$-16
Elkhart	$167	$-10
Evansville	$163	$-14
Fort Wayne	$165	$-12
Goodland	$169	$-9
Indianapolis	$204	$27
South Bend	$182	$4

Higher coverage limits increase your renters insurance premium in Indiana. A basic policy with $20,000 in personal property coverage and $100,000 in liability costs $178 per year, while increasing to $50,000 in personal property runs $288 annually. Comprehensive coverage with $250,000 in personal property and $300,000 in liability costs $1,200 per year.


$20K Personal Property / $100K Liability	$15	$178
$50K Personal Property / $100K Liability	$24	$288
$100K Personal Property / $100K Liability	$37	$449
$250K Personal Property / $300K Liability	$100	$1,200

Your credit score affects renters insurance rates in Indiana. Those with poor credit pay $423 per year, compared to $178 for good credit and $121 for excellent credit, more than three times the rate.
Excellent $10 $121
Good $15 $178
Fair $20 $240
Below Fair $27 $322
Poor $35 $423


Excellent	$10	$121
Good	$15	$178
Fair	$20	$240
Below Fair	$27	$322
Poor	$35	$423

Do You Need Renters Insurance in Indiana?

Many landlords require renters insurance as a lease condition, though Indiana law doesn't mandate coverage. Property managers often mandate it to protect themselves from liability claims, sometimes requiring $100,000 or more in liability protection. While the state doesn't require it, your landlord can require coverage as part of your rental agreement. Check your lease before moving in to see if you need a policy.

HOW TO DETERMINE YOUR RENTERS INSURANCE COVERAGE NEEDS

Typical personal property coverage ranges from $20,000 to $50,000 for most renters' belongings. Go through your unit and add up replacement values for electronics, furniture, clothing and other items to calculate your personal property coverage. You'll also want to select at least $100,000 in liability coverage to protect yourself if someone gets injured in your apartment.

How to Find the Best Cheap Renters Insurance in Indiana

Choosing quality home insurance in Indiana involves comparing multiple providers while weighing your budget, coverage requirements and service expectations. This guide walks you through the key factors that'll help you make the right decision.

1
Compare quotes from at least three companies
Premiums differ by $50 or more across companies for identical coverage. Get quotes from both national carriers like GEICO and Allstate, plus regional providers serving Indianapolis and Fort Wayne. This comparison shopping ensures you're not overpaying for basic renters insurance protection.
2
Check customer satisfaction ratings and reviews
Low prices aren't worth much if your insurer has poor claims handling or customer service. Research J.D. Power ratings and review customer complaints filed with the Indiana Department of Insurance before purchasing. A slightly higher premium often pays off when you need to file a claim.
3
Bundle renters and auto insurance
Insurers give 10% to 25% off when you bundle policies with the same company. State Farm and Allstate offer some of Indiana's largest bundling discounts, making them popular choices in cities like Evansville and South Bend. Contact your current auto insurer first to compare their bundled rates.
4
Ask about available discounts
You can get discounts for alarm systems, smoke detectors and staying claims-free for several years. Many insurers also offer savings for being a non-smoker, paying annually instead of monthly or having good credit. Ask your agent which specific discounts you qualify for to maximize your savings potential.

Best Cheap Renters Insurance in Indiana: Bottom Line

Lemonade, Erie Insurance, State Farm, Nationwide and Westfield are Indiana's best renters insurance companies. Get quotes from several companies to find rates matching your needs. Try the calculator below for personalized quotes depending on your coverage, deductible and credit.

Personalized Indiana Renters Insurance Rates

Get free renters insurance rate estimates for Indiana based on your coverage needs. Rates reflect a profile of renters aged 21 to 64 with no prior claims.

Coverage Level

Select Coverage Level

Deductible

Select Deductible

Credit Score

Select Credit Score

Average Annual Premium—

Renters Insurance in Indiana: FAQ

Common questions about Indiana renters insurance:

Does renters insurance cover roommates in Indiana?

Renters insurance covers only the policyholder and their relatives living in the unit. Your roommate needs their own policy to protect their belongings and get liability coverage. Each roommate should buy separate renters insurance with at least $20,000 in personal property coverage.

How much renters insurance do I need in Indiana?

Most Indiana renters need $20,000 to $50,000 in personal property coverage and $100,000 in liability protection. Add up replacement costs for your furniture, electronics, clothing and other belongings to calculate your needs. Your landlord may require specific coverage amounts, so check your lease before buying a policy.

How do I file a renters insurance claim in Indiana?

Contact your insurer immediately after damage occurs or items get stolen. Document the damage with photos and videos before cleaning up. Provide a list of damaged or stolen items with purchase dates and estimated values. Your insurer will assign a claims adjuster to review your case. Most claims get processed within two to four weeks.

Does renters insurance cover hotel stays if my apartment becomes unlivable?

Renters insurance covers temporary housing costs through loss of use coverage if covered damage like fire makes your apartment unlivable. This pays for hotel rooms and restaurant meals while repairs happen. Most policies limit loss of use to 20% to 30% of your personal property coverage amount. Floods and earthquakes aren't covered.

How We Found the Best Cheap Renters Insurance Companies in Indiana

We analyzed Indiana renters insurance companies to identify insurers with low rates and reliable service.

We collected quotes for renters aged 26 to 64 with good credit and no claims history. The profile included $20,000 in personal property coverage, $100,000 in liability protection and a $500 deductible.

Affordability determined 50% of each company's score. Customer satisfaction from industry research made up 40%. Add-on coverage options contributed 10%. Companies with the highest combined scores across all factors made our list of Indiana's best renters insurance providers.

About Mark Fitzpatrick

Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

He writes about economics and insurance, breaking down complex topics so people know what they're buying.

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