Renters insurance in Indianapolis, Indiana
It's important to carry renters insurance if you’re renting an apartment or house. It insures your rental dwelling — and any personal property within it — in a variety of circumstances, including theft, fire, vandalism, or wind damage. Given the relatively common frequency of these incidents, the affordability of a renters policy, and the potentially high cost of replacing your belongings, a renters insurance policy is a solid investment.
How much your renters insurance policy costs will come down to a number of factors, including the building's age, its material constitution, its geographic location, and the pricing rules of your insurance company. In areas prone to hail, fire, lightning, or damaging wind, renters insurance policies may be more expensive to account for the extra risk.
The average annual cost of renters insurance in Indianapolis is $207.
Finding reliable renters insurance in Indianapolis starts with shopping around and comparing policies. Check out our breakdown of Indianapolis, Indiana renters insurance rates to ensure you start your search with as much background info as possible. Remember: rates will vary based on your coverage limits and other factors.
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Popular renters insurance companies in Indianapolis
How much you pay for renters insurance in Indianapolis depends on the insurance company. For instance, USAA offers the most affordable renters insurance in Indianapolis, at just $102 per year. This compares favorably to the city's typical renters insurance cost of $207, providing a $105 price break on typical rates in the city.
Begin your search for a renters insurance policy by reviewing the cheapest companies in Indianapolis.
AFFORDABLE RENTERS INSURANCE COMPANIES IN INDIANAPOLIS
| Company | Average Annual Rate in Indianapolis |
| USAA | $102 |
| Hastings Mutual | $116 |
| Safeco | $125 |
| Cincinnati Insurance | $131 |
| Travco | $155 |
Indianapolis renters insurance pricing by coverage tier
Your renters insurance rates will vary depending on your coverage levels. Two of the most common levels of renters insurance coverage are $25,000 and $50,000. In Indianapolis, the difference in annual premium between these two tiers is approximately $85. If you can afford the up-front expense, it's worth considering.Coverage Level Average Annual Rate in Indianapolis $25K Property $164 $50K Property $249
Tip: bundle your auto and renters insurance policies in Indianapolis
If you’re trying to save, purchase your renters and auto policies from a single company. Pairing renters and car insurance in Indianapolis can result in substantial savings. In fact, bundling renters and auto insurance leads to average savings of 6.7% on car insurance rates. The auto insurance company offering the most affordable rate with a renters bundle is Erie, followed by GEICO and Indiana Farm Bureau.
CAR AND RENTERS BUNDLING DISCOUNTS IN INDIANAPOLIS
| Annual Bundle Savings | Bundle Savings % |
| $73 | 6.7% |