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

USAA, State Farm, and Geico 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 no-cost replacement cost coverage, making it ideal for military families. State Farm includes loss-of-use coverage, while Geico provides theft and vandalism protection at $20 for $100,000 coverage.

Insurance Company	Rank	$500 Deductible	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++	Online Convenience	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

USAA remains the most cost-effective option, while State Farm’s bundling discount of 33% makes it ideal for those seeking additional savings.

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 no-cost replacement cost coverage and free flood protection
• Geico provides theft and vandalism protection at $20 for $100,000 coverage
• State Farm allows renters to customize coverage with identity theft protection add-ons

#1 – USAA : Top Overall Pick

Pros

• Most Affordable Premium in Indiana: Offers renters insurance 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 Online Convenience

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.

Finding the Best Deductible for Affordable Renters Insurance

What you pay per month is heavily influenced by the deductible on your renter's insurance. While a greater deductible reduces monthly rates, it increases the amount you'll be responsible for paying out of pocket in the event of a claim. The table below breaks down Indiana renters insurance rates based on $500, $1,000, and $2,000 deductibles, making it easier to find the right balance between affordability and coverage.

Insurance Company	$500 Deductible	$1,000 Deductible	$2,000 Deductible
	$26	$22	$19
	$25	$21	$18
	$21	$18	$15
	$20	$17	$14
	$27	$23	$20
	$22	$19	$16
	$24	$20	$17
	$14	$12	$10
	$50	$42	$35
	$11	$9	$8

If you're looking for the lowest rates, USAA is the most budget-friendly, offering $11 per month for a $500 deductible, $9 for $1,000, and just $8 for $2,000—perfect for military families. State Farm is the best deal for most renters, charging $14 for $500, $12 for $1,000, and $10 for $2,000, while Geico keeps costs low at $20, $17, and $14 with solid coverage.

On the higher end, Travelers is the priciest option, starting at $50 for $500, $42 for $1,000, and $35 for $2,000, which is a big jump from cheaper alternatives. A higher deductible will save you money each month, but if you ever need to make a claim, make sure you can afford to pay more out of pocket.

Learn more: Reasons renters insurance is worth $15 a month

Finding the Best Coverage-to-Cost Ratio for Indiana Renters

The coverage you select for your HO-4 insurance policy, commonly known as renters insurance, will influence the amount of your monthly payment. Since higher fees are linked directly to increased coverage limits, it is very important to find a plan that meets your protection requirements without straining your budget too much. The table below breaks down policy rates for the most affordable renters insurance in Indiana, including $30K, $50K, and $70K.

Insurance Company	$30K	$50k	$70k
	$16	$21	$26
	$13	$18	$23
	$15	$20	$25
	$12	$17	$22
	$24	$29	$34
	$20	$25	$30
	$16	$21	$26
	$12	$17	$22
	$20	$25	$30
	$11	$16	$21

USAA provides the lowest monthly rates for renters looking for the most economical choice; costs start at $11 for $30K, $16 for $50K, and $21 for $70K. Military families will find USAA to be an excellent choice. With prices of $12 for $30K, $17 for $50K, and $22 for $70K, Geico and State Farm are in close pursuit, providing a good mix of affordability and coverage.

American Family is a good mid-range choice because it also maintains prices reasonable, with prices starting at $13 for $30K and going up to $23 for $70K. Liberty Mutual charges$24,$29, and $34, in contrast to the more costly Travelers and Nationwide, which reach $30 at the $70,000 level. To receive the most coverage for the least amount each month, renters should research these options thoroughly.

Monthly Premiums for Indiana Renters Based on Property Value

When you’re picking out an HO-4 insurance policy, how much personal property you want to cover greatly impacts what you’ll pay each month. Whether you just need to protect the basics or you’ve got higher-value stuff, knowing how rates shift by coverage amount helps you make a smarter choice. The table below shows what top insurers in Indiana charge for $15K, $30K, and $50K in personal property coverage.

Insurance Company	$15K Personal Property Coverage	$30K Personal Property Coverage	$50K Personal Property Coverage
	$16	$18	$21
	$13	$15	$18
	$15	$17	$20
	$14	$16	$19
	$24	$26	$29
	$20	$22	$25
	$15	$17	$20
	$10	$12	$15
	$50	$52	$55
	$11	$13	$16

State Farm is the cheapest, starting at $10 a month for $15K, $12 for $30K, and just $15 for $50K—and that includes extras like up to $1 million in liability and loss of use coverage. USAA follows with $11, $13, and $16 and provides full replacement cost and flood protection, making it ideal for military families. American Family comes in at $13 for $15K and tops out at $18 for $50K, with optional add-ons like scheduled personal property for jewelry and electronics.

Geico and Farmers offer similar pricing, with Geico at $14–$19 and Farmers at $15–$20, both underwritten by A++-rated carriers and offering standard theft and fire protection. Meanwhile, Travelers charges the highest rates—$50 for $15K, $52 for $30K, and $55 for $50K, despite offering coverage similar to other carriers. Choosing the right HO-4 insurance policy in Indiana isn’t just about price—it’s about getting specific protections that match your property value without overpaying.

Learn more: Homeowners insurance vs. renters insurance

Unlocking the Best Renters Insurance Discounts in Indiana

Reducing your renters insurance in Indiana cost goes beyond picking a provider—knowing the smartest ways to save money on renters insurance can have a big impact.

Insurance Company	Bundling	Claim-Free	Security Systems	Loyalty
	15%	20%	10%	8%
	10%	22%	29%	10%
	12%	25%	10%	7%
	18%	15%	10%	12%
	14%	20%	10%	6%
	11%	18%	10%	9%
	16%	21%	10%	10%
	20%	24%	17%	12%
	13%	16%	10%	8%
	10%	23%	10%	11%

State Farm offers the biggest bundling discount at 20%, while Farmers has the highest claim-free discount at 25%. If you want extra savings for home security, State Farm knocks off 17% for installing a security system, much higher than the standard 10% most companies offer. For renters who stick with the same provider, American Family gives the best loyalty discount at 29%, while Liberty Mutual only offers 6%.

If you have multiple policies, State Farm’s 20% bundling discount is the best deal. Renters with no past claims can save the most with Farmers’ 25% claim-free discount. American Family rewards long-term customers with a 29% loyalty discount, while USAA gives an 11% loyalty discount for military families.

If security is a priority, State Farm offers a 17% discount for installing a security system, compared to the standard 10% from Allstate, Farmers, and Liberty Mutual. With such a diverse selection of discounts, selecting the appropriate provider might make a significant difference in how much you pay every month.

Understanding Renters Insurance Coverage in Indiana

Renters insurance does more than cover stolen or damaged belongings—it also helps with unexpected expenses. Personal property coverage reimburses for lost or damaged items due to theft, fire, or vandalism. Medical expenses for visitors hurt in your house are covered by medical payments to others, regardless of who is to blame.

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

Loss of use also called additional living expenses, helps pay for hotel stays, food, and temporary housing if your rental becomes unlivable. State Farm, USAA, and Farmers provide full coverage, including replacement costs and identity theft protection, while Allstate and Travelers do not cover replacement costs, meaning renters may only get partial reimbursements.

The most comprehensive coverage is offered by USAA, Farmers, and State Farm; it covers identity theft, medical payments, loss of use, personal property, and replacement costs. Geico, Nationwide, and Progressive are good substitutes because they also provide full coverage. Allstate and Travelers only reimburse the value of depreciated items; they do not pay replacement costs.

American Family leads in identity theft protection, offering the most extensive fraud recovery support. Every insurer includes loss of use coverage, helping renters cover hotel stays and temporary housing. Comparing the best renters insurance companies helps renters secure top-tier protection without coverage gaps.

See more: What does renters insurance NOT cover?

Smart Ways to Lower Your Renters Insurance Costs in Indiana

Renters insurance in Indianapolis, IN, 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 renters insurance in my area 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

No secret formulas, just honest consumer reviews—that's how Clearsurance rates apartment insurance providers. Claims data from actual policyholders are used by Clearsurance to rate insurers rather than hidden algorithms.

• 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 renters insurance quotes 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

Renters insurance is a must in Indianapolis and other large Indiana cities due to the higher-than-average property crime rate. There are 1,847 property crimes reported year, which affects insurance rates, according to FBI figures. Of these offenses, 1,427 constitute larceny thefts, and 272 constitute burglaries. In order to guarantee that renters receive complete compensation for lost or damaged belongings, USAA, Farmers, and State Farm provide comprehensive coverage that includes personal property, loss of use, medical payments, replacement costs, and identity theft.

Allstate and Travelers, on the other hand, do not cover replacement costs; tenants only receive depreciated item values, which can reduce rates but result in out-of-pocket costs for policyholders. Rates are also impacted by coverage options and add-ons. American Family leads in identity theft protection, offering the best fraud recovery support, which can slightly increase costs but adds financial security.

Every provider includes loss of use coverage, covering hotel stays and temporary housing after a covered event, a key factor in pricing. Renters insurance in Indianapolis can also be made more affordable with security discounts—Geico, Nationwide, and Progressive offer savings for renters who install burglar alarms or upgrade locks. Comparing Indianapolis, IN, renters insurance quotes help renters in high-risk areas find the right balance between affordability and strong protection.

Learn more: Does renters insurance cover theft?

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

There are misconceptions regarding protection because many renters are unaware of what their insurance covers. If a non-resident is hurt on your property, liability coverage, which is included in the majority of policies, helps cover medical costs. 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. Renters looking for cheap renters insurance in Indianapolis, IN, can lower costs by installing security systems, keeping a claims-free record, or bundling renters and auto insurance with the same provider.

See our blog and renters insurance guide for professional advice to help you make an informed choice. To find renters insurance near me that offers the best balance of affordability and protection, use our comparison tool to get a quote without compromising coverage.