Who Has The Cheapest Renters Insurance Quotes in Indiana?

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There are a lot of renters in the Hoosiers state, especially in Indianapolis and nearby the state’s many universities, and our study determined which places have the cheapest and most expensive renters insurance there. The study shows renters insurance premiums vary quite a bit in the state - rates in the most expensive city are 49% higher than rates in the cheapest. We used data from one a sample property (a rental property with roughly 1,000 square feet of living space and $100,000 in liability coverage), so rates have comparative value, but are not indicative of what all tenants can expect to pay for their renters insurance. Enter your zip code to find a list of companies to start shopping for renters insurance quotes. 

Cheapest Renters Insurance in Indiana

Our study examined the renters insurance of five companies in Indiana based on quotes for a 1,000 square-foot home and found that based on our sample renters policy, State Farm ranked the cheapest with an annual rate of $183. This is about 36% lower than the average rate. Liberty Mutual ranked the most expensive among the companies in our study. The following table shows the annual rates of the five companies, ranked from lowest to highest:

RankCheapest Renters Insurance CompanyAverage Annual Rates
1 State Farm $183
2 Allstate 284
3 Farmers 300
4 Nationwide 313
5 Liberty Mutual 353
Average 287

These rates were for a profiled property. To find the best rates for yourself, look for quotes from multiple insurance companies and compare. 

Best Renters Insurance Rates in Indiana: by City

Many of the cheapest places for renters insurance are located outside of the Indianapolis metropolitan area but are somewhat central in the rectangular state. The exception is Jasper, which is located in the southwest corner of Indiana. As a whole, renters insurance is relatively cheap in Indiana compared to other states.

RankCityAverage Annual Rate% Difference vs State Average
1 Rushville $244 -15%
2 Alexandria 250 -13%
3 Peru 251 -13%
4 Jasper 252 -12%
5 Kendallville 252 -12%

*The Average Annual Rate has been rounded to the nearest whole dollar amount.

Rushville, IN

The the city is the seat of Rush County, which was named after Dr. Benjamin Rush, who signed the Declaration of Independence in 1776. Lawyer, business executive and Rushville native Wendell Willkie campaigned in 1940 for the presidential election against Franklin D. Roosevelt and lost. Rushville have the cheapest renters insurance rates for our sample property, with rates 15% less than the state average for the property.

Alexandria, IN

Alexandria was founded in 1836. Located in the Indiana Natural Gas region, the city experienced rapid industrial development while maintaining its agricultural economy. Grammy winners Bill and Gloria Gaither are from Alexandria and the city hosts a very popular go-kart grand prix that hundreds of people participate in. Renters insurance rates for our sample property are 13% lower in Alexandria than the average for the state. 

Peru, IN

Known as the “Circus Capital of the World,” William N. Hood officially established Peru in 1834. During the early 20th century, Peru was home to the Model Automobile Company, a then pioneering automobile manufacturer which has since closed. The city is still the site of the Circus Hall of Fame and holds a circus city festival every July. Composer and songwriter Cole Porter was from Peru and his home is now a historic site that attracts visitors. With rates 13% lower than the average rate for the sample property in Indiana, Peru has the third cheapest renters insurance in the state.

Jasper, IN

Jasper was originally on 120 acres of land purchased by Joseph Enlow. The town was supposed to have been named 'Eleanor' in honor of Enlow's wife, but instead she suggested Jasper. In 2005, Relocate America ranked Jasper one of the top 10 best places to live in the U.S. The city also has some of the best renters insurance rates in Indiana. Renters insurance premiums in Jasper also are 13% lower than the state average for the study sample property.

Kendallville, IN

Kendallville was named after Amos Kendall, the postmaster general of the city. There are now almost 10,000 residents there along with several historic sites and many outdoor activities. Tenants pay 12% less to insure our sample rental property than the average Indiana premium for the study sample home.

Most Expensive Renters Insurance in Indiana

The most expensive places for renters insurance in Indiana are scattered throughout the state. Gary and Indianapolis are the only two larger cities in the top five - the others are smaller and located in more rural areas. When ranked, policies very gradually get more expensive leading up to the top five most costly renters premiums in the state. 

RankCityAverage Annual Rate% Difference vs State Average
1 Gary $365 27%
2 Indianapolis 357 24%
3 Albion 355 24%
4 Greencastle 345 20%
5 Loogootee 344 20%

*The Average Annual Rate has been rounded to the nearest whole dollar amount.

Gary, IN

Gary, Indiana is a beach town on the shore of Lake Michigan that serves as a great getaway from Chicago, but still has views of its skyline. There is a robust shopping district in the city  along with a number of galleries. It also has outdoor activities including, boating and jet skiing. Renters insurance for the sample property is 27% higher in Gary than the sample property average for the state.

Indianapolis, IN

The capital of Indiana also is the largest city in the state, with more than 843,000 residents. It has a diverse economy that includes three Fortune 500 companies, hosted the Pan American Games and the NFL Super Bowl, and is home to the world’s largest children’s museum. There are a number of professional sports teams in the city but it is especially known for having a rich history in auto racing. Indianapolis has some of the most expensive renters insurance rates in the state, with premiums 24% higher than the state average for our sample property.

Albion, IN

Albion, has a population of about 2,400 people. It hold an annual Harvest Fest each fall where participants can rent space for visitors to to purchase things from. Tenants pay 24% more for renters insurance policies in Albion than the average cost for the sample home in the state. 

Greencastle, IN

Greencastle was founded in 1821 by Ephraim Dukes and named after Greencastle, Pennsylvania. The city is located in Putnam County which was named after Israel Putnam, who served as a General during the Revolutionary War. DePauw University was established in Greencastle during the 1830s and still exits today. Greencastle renters insurance quotes were 20% higher than the state average for the same property, according to our study.

Loogootee, IN

The small town is host to a quiet, suburban lifestyle, with community events like Summer Fest, the annual Easter Egg hunt and the Shoals Catfish Festival. Loogootee was briefly mentioned in the film Hoosiers, in reference to a basketball referee, but the name of the city's was misspelled in the credits. Renters insurance rates in Loogootee are 20% higher than the state average for the study sample property. 

Average Cost of Renters Insurance in Indiana: by City 

The study gathered quotes for our sample property from five major renters insurance carriers for 122 cities across Indiana. Our analysis determined the mean renters insurance rate for the sample in Indiana was $287 and the most expensive city was 49% higher than the cheapest. Relative to other states, those differences between the mean rate are small. In the state of New Jersey, premiums for the most expensive identical property is 72% more than the cheapest. 

Study Methodology

Our study examined renters insurance quotes for a 1,000-square-foot residence with at least $25,000 in personal property coverage and $100,000 in liability coverage. We then collected quotes for that sample residence from five of the major carriers that offer a renters insurance product in the state of Indiana. We averaged rates for the sample home in each city as a benchmark to show which cities are relatively cheaper or more expensive. Those comparative values are not indicative of what tenants can expect to pay for an annual renters insurance premium. 

RankCityAverage Annual Rate% Difference vs State Average
120 Albion $355 24%
2 Alexandria 250 -13%
38 Anderson 274 -4%
61 Angola 287 0%
59 Attica 286 0%
22 Auburn 269 -6%
27 Aurora 270 -6%
7 Batesville 255 -11%
57 Bedford 282 -2%
49 Berne 280 -2%
33 Bloomington 274 -5%
42 Bluffton 278 -3%
54 Bourbon 282 -2%
64 Brazil 287 0%
74 Bremen 292 2%
81 Brookville 294 3%
99 Brownstown 304 6%
96 Butler 302 5%
92 Carmel 298 4%
102 Charlestown 306 6%
86 Chesterton 296 3%
46 Churubusco 280 -2%
83 Cloverdale 294 3%
13 Columbia-City 262 -9%
105 Columbus 307 7%
93 Connersville 299 4%
55 Corydon 282 -2%
70 Crown-Point 291 1%
100 Culver 304 6%
101 Dale 305 6%
39 Decatur 275 -4%
89 Demotte 298 4%
36 Elkhart 274 -4%
87 Elwood 297 4%
67 Evansville 288 0%
80 Ferdinand 294 2%
17 Fishers 266 -7%
117 Flora 327 14%
58 Fort-Wayne 284 -1%
28 Frankfort 272 -5%
48 Franklin 280 -2%
12 Garrett 260 -9%
122 Gary 365 27%
84 Goshen 295 3%
119 Greencastle 345 20%
37 Greenfield 274 -4%
24 Greensburg 270 -6%
10 Hartford-City 260 -9%
23 Huntertown 270 -6%
79 Huntington 294 2%
121 Indianapolis 357 24%
4 Jasper 252 -12%
35 Jeffersonville 274 -5%
5 Kendallville 252 -12%
14 Kentland 264 -8%
29 Knightstown 273 -5%
82 Knox 294 3%
26 Kokomo 270 -6%
94 La-Porte 299 4%
20 Lafayette 269 -6%
104 Lagrange 307 7%
30 Lawrenceburg 273 -5%
8 Lebanon 257 -11%
62 Ligonier 287 0%
68 Linton 290 1%
19 Logansport 268 -6%
118 Loogootee 344 20%
103 Lowell 307 7%
95 Madison 301 5%
47 Marion 280 -2%
113 Martinsville 311 8%
75 Michigan-City 292 2%
66 Milford 288 0%
21 Monticello 269 -6%
115 Mooresville 313 9%
40 Muncie 276 -4%
116 Munster 325 13%
51 Nappanee 281 -2%
65 Nashville 288 0%
90 New-Albany 298 4%
50 New-Castle 280 -2%
109 New-Harmony 308 7%
112 New-Paris 310 8%
108 Newburgh 308 7%
43 Noblesville 278 -3%
106 North-Vernon 307 7%
16 Ossian 266 -7%
111 Paoli 310 8%
52 Pekin 281 -2%
97 Pendleton 302 5%
3 Peru 251 -13%
71 Plainfield 291 1%
34 Plymouth 274 -5%
78 Portland 293 2%
85 Princeton 296 3%
25 Rensselaer 270 -6%
32 Richmond 274 -5%
18 Rising-Sun 268 -7%
72 Rochester 291 1%
76 Rockport 292 2%
53 Rockville 281 -2%
1 Rushville 244 -15%
98 Scottsburg 304 6%
41 Seymour 278 -3%
45 Shelbyville 280 -3%
114 Shoals 312 9%
77 South-Bend 292 2%
31 Spencer 274 -5%
107 Sullivan 308 7%
91 Tell-City 298 4%
56 Terre-Haute 282 -2%
63 Tipton 287 0%
9 Versailles 257 -10%
88 Vincennes 297 4%
15 Wabash 264 -8%
60 Warsaw 286 0%
44 Washington 279 -3%
110 West-Terre-Haute 309 8%
69 Westfield 291 1%
73 Williamsport 292 2%
6 Winchester 255 -11%
11 Zionsville 260 -9%

*The Average Annual Rate has been rounded to the nearest whole dollar amount.

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