Best and Cheapest Renters Insurance in Indiana for 2025 (10 Most Affordable Companies)

USAA, State Farm, and Farmers stand out as the best and cheapest renters insurance in Indiana, offering comprehensive coverage and competitive rates starting at just $11 per month.

USAA provides $100,000 in personal liability and replacement cost coverage, making it ideal for military families. State Farm includes up to $1 million in personal liability and loss-of-use coverage, while Farmers offers policy bundling discounts of up to 10%.

Insurance Company	Rank	$100K Policy	A.M. Best	Best For	Jump to Pros/Cons
	#1	$11	A++	Military Focus	USAA
	#2	$14	A++	Nationwide Reach	State Farm
	#3	$20	A++	Affordable Rates	Geico
	#4	$21	A	Customer Service	Farmers
	#5	$22	A+	Multiple Discounts	Nationwide
	#6	$24	A+	Broad Coverage	Progressive
	#7	$25	A	Loyalty Programs	American Family
	#8	$26	A+	Safe Home	Allstate
	#9	$27	A	Bundling Options	Liberty Mutual
	#10	$50	A++	Customizable Options	Travelers

Additionally, State Farm and Farmers allow policyholders to customize coverage with add-ons like identity theft protection and scheduled personal property endorsements.

Compare these top providers to secure the best renters insurance in Indiana. Find the best local rates by entering your ZIP code.

What You Should Know

• USAA is the top pick, offering $100,000 in liability and replacement cost coverage
• Renters in Indiana can get coverage for as low as $11 per month, with loss-of-use protection included
• State Farm and Farmers provide up to $1 million in liability and bundling discounts up to 10%

#1 – USAA : Top Overall Pick

Pros

• Most Affordable Premium in Indiana: Offers $100,000 in personal liability coverage for just $11 per month, the lowest statewide.
• Full Replacement Cost at No Extra Charge: Unlike competitors, USAA pays full value for damaged/stolen items without depreciation.
• Disaster Protection Standard: Includes flood, hurricane, tornado, and earthquake coverage, which most competitors require add-ons for.

Cons

• Restricted to Military Members & Families: Only active duty veterans and their dependents in Indiana qualify for coverage. Check out insurance savings in our complete USAA insurance review.
• No Civilian Bundling Options: Unlike State Farm or Farmers, renters insurance cannot be bundled with standard auto policies for non-military members.

#2 – State Farm: Best for Nationwide Reach

Pros

• Low Price for High Liability Coverage: Renters in Indiana can afford up to $1 million in liability coverage for just $14 a month.
• Complete Property Protection: Provides protection against theft, fire, vandalism, and water damage (apart from floods) to personal belongings, electronics, jewelry, and appliances.
• Top-Tier Financial Strength: They have a smooth and dependable claim handling process, as seen by their A++ rating from A.M. Best.

Cons

• Limited Discount Options: Indiana tenants cannot take advantage of loyalty awards or extended bundling discounts that are available in other states.
• Flood Damage Excluded: Indiana tenants must obtain a separate NFIP policy for flood protection instead of USAA, which includes it. Discover more about offerings in our State Farm renters review.

#3 – Geico: Best for Affordable Rates

Pros

• Competitive Premiums for Standard Coverage: Indiana renters pay $20 per month, which is $2 below the state average.
• Theft & Fire Protection Included: Covers smoke damage, vandalism, and burglary, essential for urban renters in Indiana.
• Easy Policy Management: Offers a simple online platform for quick claims, policy updates, and coverage adjustments. Access comprehensive insights into our Geico renters insurance review.

Cons

• Third-Party Policy Management: Geico outsources renters insurance to partner firms, resulting in uneven policy conditions.
• No Claims-Free Discount: Unlike Nationwide or Farmers, Geico does not provide price breaks for long-term tenants with no claims.

#4 – Farmers: Best for Customer Service

Pros

• Multi-Policy Discounts Available: Indiana renters save 10% when bundling renters insurance with Farmers auto or life insurance. Read how in our Farmers insurance review.
• Highly Rated Customer Support: Earns 4.3/5 stars for fast claim processing and policyholder satisfaction in Indiana.
• Identity Theft Protection Included: Covers $25,000 in financial fraud reimbursement at no additional cost.

Cons

• Fewer Discount Options: Unlike some competitors, Indiana renters won’t find loyalty rewards or claims-free discounts to lower their rates.
• Limited High-Value Item Coverage: Requires scheduled personal property endorsements for jewelry, antiques, and firearms.

#5 – Nationwide: Best for Multiple Discounts

Pros

• Extensive Discount Programs: Indiana renters qualify for multi-policy, claims-free, workplace affiliation, and security system discounts.
• Flexible Coverage Add-Ons: Offers water backup, theft outside the home, and identity theft protection.
• Excellent Financial Strength Rating: Holds A.M. Best’s A+ rating, proving stable claims processing.

Cons

• Slightly Above-Average Premiums: Indiana renters pay $22 per month, $8 more than USAA’s rate. Discover insights in our Nationwide insurance review.
• Workplace Discount Restrictions: Not all Indiana professionals qualify for employer-based savings, making it less accessible.

#6 – Progressive: Best for Broad Coverage

Pros

• Bundling Discount of 12%: Indiana renters save when combining auto and renters insurance, making it ideal for multi-policy customers.
• Customizable Deductibles: Offers $250, $500, or $1,000 deductible options to control monthly costs, starting at $24 per month.
• High Financial Strength Rating: Rated A+ by A.M. Best, ensuring long-term financial security.

Cons

• Higher Premiums Compared to Competitors: Indiana renters pay $24 per month, twice the cost of USAA’s premium.
• No Long-Term Loyalty Discounts: Unlike American Family, Progressive does not offer rewards for long-term policyholders. Explore your options in our Progressive insurance review.

#7 – American Family: Best for Loyalty Programs

Pros

• Loyalty Discounts Available: Indiana renters save 5% after maintaining coverage for five consecutive years.
• Identity Theft Protection at No Extra Cost: Covers $25,000 for financial fraud, stolen funds, and credit monitoring assistance.
• Scheduled Property Coverage: Offers extra protection for high-value items like jewelry, collectibles, and electronics.

Cons

• Higher Monthly Premiums Than State Average: Indiana renters pay $25 per month, $14 more than USAA’s rate. For details, read our American Family insurance review.
• No Online Policy Adjustments: Requires speaking to an agent for coverage changes, unlike Geico or Progressive.

#8 – Allstate: Best for Safe Home Discounts

Pros

• 15% Security Discount: Indiana renters receive premium reductions for smoke alarms, burglar alarms, and fire sprinklers.
• Claim-Free Incentive: Offers Claim RateGuard, which prevents premium increases after a first claim. Get more quotes in our Allstate insurance review.
• High Liability Limits Available: Provides up to $500,000 in personal liability coverage, higher than most competitors.

Cons

• Expensive Monthly Premiums: Indiana renters pay $26 per month, $15 more than USAA renters insurance.
• Higher Deductibles Required: Indiana renters must choose a $500 minimum deductible, making small claims costly.

#9 – Liberty Mutual: Best for Bundling Options

Pros

• Up to 10% in Multi-Policy Savings: Indiana renters can bundle auto, renters, and life insurance for significant discounts. Get a list of discounts in our Liberty Mutual renters review.
• Specialized Add-On Coverage: Includes earthquake protection, identity fraud coverage, and electronics insurance.
• Full Replacement Cost Coverage: Pays for replacements of new items without depreciation deductions.

Cons

• More Expensive Than State Average: Indiana renters pay $27 monthly, making it one of the costliest options.
• Few Local Agents Available: Requires online or phone-based claims processing, with limited in-person support.

#10 – Travelers: Best for Customizable Options

Pros

• Highly Customizable Coverage: Allows Indiana renters to adjust personal property, liability, and loss-of-use coverage levels.
• Green Home Discounts Available: Renters with energy-efficient apartment buildings qualify for lower premiums. Discover insights in our Travelers insurance review.
• Flexible Payment Options: Let Indiana renters choose monthly, quarterly, or annual payment plans to fit their budget.

Cons

• Most Expensive Option on This List: Indiana renters pay $50 monthly, making it the highest-cost provider.
• Limited Bundling Opportunities: Not all Indiana renters qualify for auto or umbrella insurance savings.

Breaking Down Indiana Renters Insurance Costs by Provider

Renters insurance prices in Indiana can be all over the place, so it’s worth comparing your options before picking a provider. The three most affordable choices are USAA, State Farm, and Geico, all offering solid coverage at the best prices. USAA stands out as the most reasonable alternative, with prices starting at $11 for $100,000 and $18 for $300,000, making it a preferred choice for qualifying military families.

Insurance Company	$100K Policy	$300K Policy
	$26	$40
	$25	$38
	$21	$30
	$20	$28
	$27	$42
	$22	$32
	$24	$36
	$14	$22
	$50	$75
	$11	$18

It also includes flood and earthquake insurance coverage at no extra cost, something most insurers don’t offer. State Farm has the finest combination of pricing and coverage for the general public, with policies ranging from $14 for $100,000 to $22 for $300,000. It offers high personal liability coverage of up to $1 million and has an A++ financial strength rating, which ensures claim stability.

Geico rounds out the top three with rates at $20 for $100K and $28 for $300K, making it a budget-friendly choice while still offering solid theft and vandalism protection, ideal for urban renters. On the other end of the spectrum, Travelers ranks as the most expensive provider, charging $50 for $100K and $75 for $300K, nearly five times the cost of USAA’s entry-level policy. Renters hoping to save hundreds of dollars per year should thoroughly consider their alternatives before making a decision.

Unlocking the Best Renters Insurance Discounts in Indiana

Lowering your renter's insurance premium in Indiana isn't just about choosing a provider—understanding the best ways to save money on renters insurance can make a huge difference. The table below highlights key savings opportunities, including bundling, claim-free, security system, and loyalty discounts.

Insurance Company	Bundling	Claim-Free	Security Systems	Loyalty
	27%	10%	15%	10%
	19%	10%	5%	29%
	28%	10%	15%	10%
	25%	10%	15%	10%
	30%	10%	15%	10%
	39%	10%	15%	10%
	20%	10%	15%	10%
	33%	10%	15%	10%
	25%	10%	15%	10%
	10%	10%	15%	10%

Nationwide offers the highest bundling discount at 39%, making it the best option for renters combining auto and renters insurance. State Farm follows with 33%, while Liberty Mutual provides 30%, helping policyholders save significantly. For those with security systems, Allstate, Farmers, Geico, and others offer 15% off for installing fire alarms, smart locks, or monitored security devices. American Family leads in loyalty rewards at 29%, giving long-term customers the biggest break.

Meanwhile, all insurers offer a 10% claim-free discount, rewarding renters who maintain a clean claims record. Although USAA's bundling discount is only 10%, its policies include military-specific perks like full replacement cost coverage. By stacking these savings, Indiana renters can cut costs while keeping solid protection.

Key Coverage Options for Indiana Renters Insurance Policies

Renters insurance provides essential protection against theft, fire, vandalism, and unexpected expenses. Most policies include personal property coverage, which reimburses for damaged or stolen belongings, additional living expenses, temporary housing if a rental becomes unlivable, and medical payments to others, which pay for guest injuries.

Insurance Company	Personal Property	Additional Living Expenses	Medical Payments to Others	Replacement Cost	Identity Theft
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	❌
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	❌
	✅	✅	✅	✅	❌
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	❌

Some insurance includes replacement cost coverage, which provides full recompense for lost things rather than depreciated value. While these standard protections are useful, certain tenants may want additional coverage for financial stability. Identity theft protection is an important add-on that helps renters recover from fraud and illegal credit activity.

Allstate, American Family, Farmers, Liberty Mutual, Nationwide, and Travelers include this feature, while Geico, Progressive, State Farm, and USAA do not. Renters who prioritize affordability may find Geico and State Farm adequate, whereas those seeking comprehensive coverage can pick Allstate or Nationwide. Comparing companies guarantees Indiana renters receive the best insurance price with enough coverage.

See more: What does renters insurance NOT cover?

Smart Ways to Lower Your Renters Insurance Costs in Indiana

Renters insurance in Indiana is already more affordable than many other types of coverage, but that doesn't mean you should pay more than necessary. There are several ways customers say they've saved money on renters insurance, helping them lower costs without sacrificing protection.

• Install Safety Features: Adding smoke detectors, deadbolts, or a monitored security system can lower your rates because insurers consider you less risky.
• Raise Your Deductible: Choosing a greater deductible will greatly lower your monthly premium but mean you will pay more out-of-pocket for claims.
• Ask for Discounts: Many insurers offer savings for being claim-free, having protective devices, or maintaining a long-term policy—always ask what's available.
• Bundle Your Policies: Combining renters and auto insurance with the same provider can unlock multi-policy discounts, saving you up to 25%.
• Pay in Full: Paying your policy annually instead of monthly can reduce fees and qualify you for pay-in-full discounts with many insurers.

These are just a few ways customers have successfully lowered their affordable renter's insurance costs while keeping strong coverage. Taking advantage of these savings can help you get the protection you need without overpaying.

Clearsurance’s Data-Driven Method for Ranking Insurance Companies

Clearsurance keeps things straightforward and transparent when rating renters insurance companies—no hidden formulas, just real customer feedback. Instead of relying on secret algorithms, Clearsurance ranks insurers based on what actual policyholders say about their experience.

• Price: How affordable is the insurance premium compared to competitors.
• Customer Service: How well the company treats its customers from sign-up to support.
• Claims Process: How smooth and fair the claims experience is.
• Likelihood to Renew: How many customers stick with the same provider after their policy ends.

Beyond just numbers, Clearsurance also compares what people love about a company to areas where they see room for improvement, making the rankings more balanced and functional. Since all ratings come directly from real customers, renters can trust Clearsurance to provide honest, unbiased insights into the best insurance options in Indiana while also exploring self-insurance strategies for added financial control.

On Reddit, a user shared that USAA's auto and renters insurance has been the cheapest option for them, even compared to Progressive and Geico. They've been with USAA for eight years, checking rates annually, yet USAA always comes out on top. However, they noted that some of their co-workers, even military members, find other insurers more expensive despite military discounts. As an active-duty Space Force member, they also praised USAA's consistently great customer service over the years.

Remember that renters insurance premiums aren't cookie-cutter. This Reddit thread will help you remember that. USAA is known for having reasonable prices and strong coverage for military members, but not all customers receive the same deal. Bundling options, policy details, and location can all impact pricing.

Indiana Property Crime Rates and Renters Insurance Protection

Indiana's property crime rate is slightly higher than the national average, so renters insurance in Indianapolis is a wise choice. According to FBI statistics, the state experienced 1,847 property crimes, 272 burglaries, and 1,427 larceny thefts in a year. That's why having coverage is critical—renters insurance covers theft, vandalism, and other dangers, allowing you to recoup the cost of stolen or damaged possessions.

To stay extra secure, renters can look into add-ons like personal property endorsements and burglar alarm discounts, which boost coverage while lowering insurance premiums. Checking with your insurance provider about security-related savings and coverage options is an easy way to protect your stuff and save money simultaneously.

Renters Insurance Guide: Coverage, Costs, and What to Expect

Many renters aren't fully aware of what their insurance covers, leading to misconceptions about protection. Most policies include liability coverage, which helps pay for medical expenses if a non-resident is injured on your property. You can get temporary housing expenses covered with loss of use coverage if your flat becomes uninhabitable because of a fire or water damage.

Before choosing a policy, it's important to compare insurance premiums, understand coverage limits, and explore add-ons like identity theft protection or scheduled personal property coverage for valuables. Additionally, you can save money by installing security systems, keeping a claims-free record, or combining renters' and vehicle insurance.

See our blog and renters insurance guide for professional advice to help you make an informed choice. To ensure you get cheap renters insurance without compromising quality, use our comparison tool to find a renters insurance quote that offers affordable protection without sacrificing quality.