Renters Insurance

The Best Cheap Renters Insurance in Indiana

The Best Cheap Renters Insurance in Indiana

Lemonade has the cheapest renters insurance in Indiana, with an average rate of only $12 per month.

Lemonade's rate is 29% cheaper than the state average of $200 per year and 10% less than the next cheapest option, State Farm.

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Renters insurance isn't expensive, but it can help protect you if your apartment is damaged or broken into. We collected renters insurance quotes for cities across Indiana to find the best option in the state.

The cheapest renters insurance in Indiana

Lemonade is the most affordable option in Indiana, with a typical price of just $12 per month. Compared to the most expensive option, a typical renter would save $110 per year for the same level of coverage.

Bar chart comparing the most affordable options for renters insurance in Indiana

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At an average of $17 per month, Indiana renters insurance is 7% cheaper than the national average.

Monthly cost
Lemonade logo
State Farm logo
State Farm$13
Travelers logo
Nationwide logo
Farmers logo
Amica logo
Allstate logo

Best renters insurance for most people: Lemonade

Lemonade is our top pick because of its rock-bottom rates and easy-to-use online tools.
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Read our full review of Lemonade insurance.

The good:

  • Low prices
  • Easy online experience

The bad:

  • Mixed customer service reviews
  • Limited discount options

Lemonade is our renters insurance recommendation for most people in Indiana. At just $12 per month, it had the most affordable rates in Indiana — 29% cheaper than the average.

Lemonade also has a convenient online experience both for quotes and claims. Getting a quote doesn't require providing too much information — the company says that in some cases, it can pay claims almost instantly.

A notable drawback to Lemonade renters insurance is inconsistent customer service. Although it has a high rating from J.D. Power, Lemonade, which does not use agents, also receives a high number of complaints, according to the National Association of Insurance Commissioners (NAIC). Lemonade also provides only a few opportunities for discounts to further lower your rates.

Best renters insurance for working with an agent: State Farm

State Farm offers good rates, well-rated customer service and the option of guidance from an agent.
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Read our full review of State Farm insurance.

The good:

  • Low prices
  • Well-rated customer service

The bad:

  • Limited coverage options
  • Few discounts

State Farm is a top insurance option for Indiana renters who still want the security of working with an agent. The company has a good blend of well-rated customer service and low rates that compares well to our top pick.

State Farm has the second-lowest rates in the state, just $16 more per year than Lemonade. It also has the second-best customer service among companies available to all drivers.

The biggest drawbacks of State Farm are a lack of ability to customize coverage and a small number of discounts. State Farm offers extended liability coverage and identity theft protection but does not offer extra coverage for replacement cost or water backup damage.

Best coverage options: Travelers

Travelers has the best coverage options we found in Indiana and below-average rates to boot.
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Read our full review of Travelers insurance.

The good:

  • The best coverage options we found in Indiana
  • Below average rates

The bad:

  • Poor customer service
  • Must be purchased in annual installments

For renters with specialized insurance needs, we recommend Travelers, as it has the best range of coverage options among all the companies we reviewed. It also has good customer service, and its rates are on the affordable side.

When it comes to coverage options, Travers is unmatched. For example, it offers identity theft coverage, optional replacement-cost coverage, equipment breakdown protection and a decreasing deductible.

While it isn't as affordable as our top pick, Travelers was still among the more affordable options we found in Indiana. Its average price was $16 per month, which is 5% less than the average statewide.

The biggest drawback to Travelers insurance is that you must pay for your policy in annual installments — every other insurer allows you to pay on a per-month basis. For our sample renter, it means cutting a check for $190 once a year. While you can get your money refunded if you decide to cancel midyear, it's a pain to do so. For some renters, coming up with that lump sum may be a burden.

Best for customer service: Amica

Amica has the top customer service we found in Indiana, but you will pay more for it.
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Read our full review of Farmers Insurance.

The good:

  • Top-rated customer service
  • Wide range of discounts

The bad:

  • Limited coverage options
  • High rates

Renters looking for strong customer service in Indiana should look at Amica. Although it's one of the more expensive options we found, it can provide a better experience in tough times.

Amica customers file complaints at a rate considerably less than the average insurer. The company receives less than one-third of the complaints expected for a company its size, according to the NAIC.

Strong customer service is important if you have to make a claim, as you will already be dealing with multiple stressful situations. You will have to pay more for that level of service, at $229 per year or 15% more than the state average.

Indiana renters insurance: Costs by city

The city of Mishawaka has the lowest renters insurance rates of Indiana's largest cities, with an average rate of $182 per year.

Gary and Hammond, cities in the northwest part of the state near Chicago, had the highest rates in the state at $260 and $236 per year, respectively.

Average annual cost
Difference from state average (%)
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Renters insurance costs vary across the country. To see how the cost of renters insurance in Indiana compares to other states, take a look at our national study of renters insurance costs.

Customer service: the best insurers in Indiana

Amica and USAA offer the best customer service in Indiana based on various factors.

Both companies receive a low number of complaints relative to their size and have strong editors ratings from ValuePenguin. USAA is also the top-rated renters insurance company in the J.D. Power annual customer satisfaction survey, though it is only available to military members and some of their family members.

State Farm

Frequently asked questions

How much is renters insurance per month in Indiana?

The average cost of renters insurance in Indiana is $17 per month. The cheapest quotes can be found at Lemonade, where a policy costs $12 per month.

Is renters insurance required by law in Indiana?

Renters insurance isn't required in the state of Indiana. However, you may have to buy coverage if your landlord or property management company requires you to do so.

What does Indiana renters insurance cover?

Renters insurance in Indiana should always cover property damage, personal liability, medical payments to guests and additional living expenses. Most companies also give renters the option to expand their coverage with extra add-ons, like protection for valuable property.

How much is renters insurance in Indianapolis?

Renters insurance in the largest city in Indiana, Indianapolis, costs $19 per month, which is 14% more expensive than the statewide average. In comparison, renters in Fort Wayne, the state's second-largest city, pay an average of $16 per month.


We collected renters insurance quotes for 25 of the largest cities in Indiana from seven top renters insurance companies: Lemonade, State Farm, Travelers, Nationwide, Farmers, Amica and Allstate. Our quotes were for a 30-year-old man living by himself with good credit and no recent insurance claims.

He's protected himself with $30,000 of personal property coverage with a $500 deductible, plus $100,000 of liability protection.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.