We assessed renters insurance rates in 111 cities throughout Indiana to determine which cities had the cheapest annual renters insurance costs. Indiana renters pay an average of $273 per year for their renters insurance based on our sample policy. Indianapolis, the capital and largest city in Indiana, ranked as the seventh most expensive city in the state. Below, we profile the least and most expensive cities in Indiana for renters insurance. Read more about our findings, or use our quote tool above to find renters insurance quotes in your area.
- Cheapest Renters Insurance Companies in Indiana
- The 5 Best Cities and Towns for Renters Insurance in Indiana
- Top 5 Most Expensive Cities and Towns for Renters Insurance in Indiana
Cheapest Renters Insurance Companies in Indiana
We gathered rates for our sample residence across 111 cities from State Farm, Allstate, Liberty Mutual, Farmers and Nationwide. Quotes from each company were averaged to find which insurance companies had the best renters insurance rates in Indiana. Overall, State Farm had the best renters insurance rates out of the five insurers in our study. The graph below shows the average costs per year to insure our sample residence by company alongside the state average:
Top 5 Least Expensive Cities for Renters Insurance in Indiana
1. Connersville, IN
Connersville is located in the eastern part of Indiana in Fayette County, less than 25 miles from the Ohio border. The city is home to the only high school in the county and the economy is mostly supported by manufacturing, retail and healthcare. Some of the major employers in the city are Fayette Regional Health System, Stant Corporation and Walmart Supercenter.
Connersville ranked as the most affordable city for renters insurance out of the 111 cities in our study. Our research found that residents pay an average annual renters insurance cost of $240, which is 12% less than the average in Indiana. The best renters insurance rates were offered by State Farm, the state's cheapest insurer, at a cost of $133 per year. Allstate offered the most expensive annual rate of $291 for our sample policy, which is $18 more than the state average.
2. Winchester, IN
Winchester is located north of Connersville and less than 15 miles from the border of Ohio. The city is the county seat of Randolph County and is home to the Winchester Speedway, which was built in 1914. It is also home to a post office that has been in operation since 1820. Winchester has a mansion and two districts listed on the National Register of Historic Places.
The city of Winchester has the second cheapest renters insurance rates in Indiana. We found that the average annual quote for renters insurance was $241, which is $1 more than the most affordable city, Connersville. State Farm offered the best quote of $131. And Allstate quoted the highest rate of $330, which is $57 more than the state average and $1 more than Nationwide's quote of $329.
3. Wabash, IN
Wabash is located towards the northern part of Indiana. It is home to multiple historic districts and the Wabash and Erie Canal, which was a shipping canal that linked the Great Lakes to the Ohio River using an artificial waterway. The largest employers in the city include Ford Meter Box Company Inc., Walmart Supercenter and Paper Works Industries Inc.
Wabash is the third cheapest city for renters insurance in the state of Indiana. On average, residents of the city pay $244 per year for renters insurance. That represents a rate that is $29 less than the state mean. Farmers and Nationwide offered annual renters insurance quotes of $220 and $240, respectively. State Farm quoted the lowest rate of $148 per year, which is $72 less than Farmers and $92 less than Nationwide.
4. Rushville, IN
Rushville is located less than 20 miles from Connersville, the most affordable city on our list. The city was named after Dr. Benjamin Rush, a civic leader in Philadelphia who signed the Declaration of Independence. To add to the city's political significance, Rushville served as the campaign headquarters for Wendell Willkie's presidential campaign against Franklin D. Roosevelt in 1940.
Rushville ranks as the fourth most affordable city in Indiana for renters insurance. The average cost of renters insurance in the city is $247, which is $26 less than the state average. If you're looking for low cost renters insurance, State Farm quoted the most affordable rate for the city of $133. Farmers offered a quote of $154, which is only $21 more expensive than State Farm. Allstate offered the most expensive quote at an annual cost of $341.
5. Rensselaer, IN
Rensselaer is located to the west of Indiana along the Iroquois River and is less than 25 miles from the Illinois border. The city was platted in 1839 and was originally called Newton. Its name was changed in 1844 by James Van Rensselaer, a merchant who came to the area from Utica, New York after his business failed in the Panic of 1837.
Rensselaer had the fifth lowest average renters insurance in the state of Indiana. Based on our study, residents pay 9% less than the state average, which represents a $25 savings. State Farm offered the best annual renters insurance quote for the city of $131. Nationwide and Allstate offered the highest rates within $18 of each other at $323 and $341, respectively.
Top 5 Most Expensive Cities for Renters Insurance in Indiana
1. Jeffersonville, IN
Jeffersonville is located along the Ohio River in Southern Indiana, directly across the river from Louisville, Kentucky. It is the county seat of Clark County and is often referred to as its abbreviated name, Jeff. The largest employers in the city are Clark Memorial Hospital, Shoe Sensation Inc. and Amazon Fulfillment Center, which provides more than 3,000 jobs in Southern Indiana.
Based on our study, residents in Jeffersonville pay an average of $359 for renters insurance, which is 32% more expensive than the state average. The cheapest rate was offered by State Farm at an annual cost of $148. Liberty Mutual offered the highest rate of $732, which is almost five times State Farm's rate and $394 more than the second most expensive rate in Jeffersonville.
2. Loogootee, IN
The city of Loogootee is part of Perry Township in Martin County. There are a few different pronunciations of the city's name but it is thought to be based on the names of Thomas Lowe, an engineer of the first train through the town, and Thomas Nesbe Gootee, who owned the land where Loogootee was built.
Loogootee is the second least affordable city for renters insurance in the state of Indiana. The cheapest renters insurance rate in the city was offered by State Farm at an annual cost of $133. The second-best renters insurance policy was offered by Farmers at $253, which is $120 greater than State Farm's quote. According to our study, the average renters insurance cost in the city is $357, which is 31% more than Indiana's average.
3. Gary, IN
Gary is the ninth largest city in the state of Indiana. It is bordered by Lake Michigan and is approximately 25 miles from downtown Chicago, Illinois. The city is known for being the birthplace of The Jackson 5 music group and for its steel mills. Gary's population has fallen dramatically since its peak in the 1960s and decreased by 25,590 residents between 2000 and 2015.
Gary is the third most expensive city for renters insurance in Indiana. On average, residents pay $353 per year, which is 30% greater than the state mean. The best quote was offered by Farmers, the second cheapest insurer in the state, at a rate of $260 per year. Allstate offered the least affordable quote of $491, which is $231 more than Farmer's quote and $218 more than the state mean.
4. Charlestown, IN
Charlestown lies along the Ohio River across from the border of Kentucky. It is less than 15 miles from Jeffersonville, the most expensive city for renters insurance in Indiana. From 1812 to 1878, the city was the county seat of Clark County but the title was transferred over to Jeffersonville in 1878.
The cheapest policy in the city of Charlestown was offered by State Farm at an annual rate of $133. Liberty Mutual offered the highest rate of $632, which is over four times the cost of State Farm's quote. The rates in the city are 23% higher than the state average. Based on our study, Charlestown ranked as the fourth most expensive city for renters insurance in the state of Indiana with an average renters insurance cost of $336.
5. North Vernon, IN
North Vernon is located in the southeastern section of Indiana and is part of Jennings County. The city was originally called Tripton in honor of Colonel Hagerman Tripp but was later changed to North Vernon in the mid-1800s. In the nineteenth century, North Vernon was known as the "Crossroads of Indiana" because trains going in all directions went through the city.
North Vernon ranked as the fifth least affordable city for renters insurance in the state of Indiana. State Farm quoted the cheapest renters insurance rate in North Vernon at $133 annually, which is $97 less than the second cheapest quote from Farmers of $230. Liberty Mutual quoted the most expensive rate of $632 per year, which is $499 more than State Farm's quote for the city. Residents pay an average of $332 per year for renters insurance.
We evaluated 111 cities, spread out in the state of Indiana. The sample renters insurance policy we gathered quotes for included $30,000 of coverage. Rates were obtained from State Farm, Allstate, Liberty Mutual, Farmers and Nationwide insurance companies. The quotes were then averaged to arrive at a mean value for each city. To see an alphabetical list of all the cities included in the comparison analysis, please see below. We’ve displayed all cities with the average annual cost of insurance for our benchmark policy and how much each city costs relative to the statewide average.
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