- What does your renters insurance cover in Indiana?
- What damages to my property does renters insurance protect against in Indiana?
- How much is renters insurance in Indiana?
- Is renters insurance required in Indiana?
- What's the right amount of coverage to get?
- How can I lower my renters insurance rate in Indiana?
- Getting a Lemonade renters insurance quote in Indiana
Whether you’re renting a cozy spot in Bloomington or a spacious three bedroom in Fort Wayne, if you’re a renter in Indiana, you’ll want to make sure your belongings are protected with renters insurance.
Renters insurance in Indiana can help cover everything from storm damage to theft and vandalism, giving you peace of mind no matter where you call home in the Hoosier State.
Let’s dive into everything you need to know about renters insurance in Indiana.
What does your renters insurance cover in Indiana?
Okay, so you get that a renters insurance policy is a great idea in theory… but obviously you’re curious about what it can actually do for you. Let’s break down the components of what your policy covers and your coverage options.
Personal Property
‘Personal property coverage makes sure your stuff, your personal belongings, is protected, whether you’re relaxing at your apartment or traipsing across Europe. So if your living room furniture is ruined due to water damage from that burst pipe, or your phone is stolen while you’re taking a trip to Berlin, your renters insurance policy has your back.
Loss of Use
What about if disaster strikes? If you can’t stay at your home because of covered losses (like a fire or windstorm), your ‘loss of use coverage provides reimbursements for temporary housing and additional living expenses such as food, laundry, hotel parking, and more.
Liability coverage
If someone is injured in your apartment or anyone on your policy causes damage to someone else’s property or stuff, your insurance company should have things like legal fees and property damage covered.
Medical Protection
Your insurer covers medical expenses if your guests get injured at your place or if you accidentally hurt people outside of your home as well. Note that your renters insurance policy does not cover medical payments if you or someone residing with you is injured—only non-residents and guests.
What damages to my property does renters insurance protect against in Indiana?
Renters insurance protects your stuff against several potential damages (or ‘perils’ in insurance speak), including theft, fire, vandalism, and water damage from things like burst pipes.
Here’s a complete list of covered perils included in your standard renters insurance policy in Indiana:
- Fire or lightning
- Windstorm or hail
- Explosion
- Riots
- Aircraft
- Vehicles
- Smoke
- Vandalism
- Theft
- Falling objects
- Weight of ice, snow, or sleet
- Accidental discharge or overflow of water or steam
- Sudden and accidental tearing, cracking, burning, or bulging
- Freezing
- Volcanic eruption
Take note that there are extras that you can tack onto your renters insurance policy to protect against additional dangers, like pet damage, water damage, and earthquake damage.
How much is renters insurance in Indiana?
The average monthly cost of renters insurance in Indiana is $24. But how much you pay on renters insurance will ultimately depend on several factors including where you live, how much coverage you need, which discounts you’re eligible for, and the deductible you choose.
This is what renters spend on premiums, on average, in several major Indiana cities:
| City | Average monthly cost | Average annual cost |
|---|---|---|
| Indianapolis | $29 | $348 |
| Fort Wayne | $24 | $288 |
| Evansville | $24 | $288 |
| Fishers | $22 | $264 |
| South Bend | $29 | $348 |
BTW: Did you know that the cost of Lemonade renters insurance across the U.S. is around $14 a month, with policies starting as low as $5/month? It’s important to remember, as mentioned above, that your policy price depends on a lot of factors—like where you live, your deductible, and the actual amount of coverage you need.
Is renters insurance required in Indiana?
While there’s no law requiring that you purchase renters insurance in Indiana, your individual landlord might specifically require it. And if your lease specifies that you need renters insurance, well… that’s that.
The good news is that it’s easy to sign up for a renters insurance policy with Lemonade, and you’ll thank yourself later if your stuff gets stolen or damaged! When signing up, your landlord might request they be added as an ‘interested party‘ on your policy. This just means they’ll be kept in the loop when you make any policy changes—or if you cancel your policy. It’s super easy to add them using the Lemonade app.
What’s the right amount of coverage to get?
There’s no easy answer to that question, and it depends on how much stuff you have to cover and what it’s worth. As we discussed above, your policy has a few main categories: Contents (your stuff); Loss of Use (temporary living expenses); and then personal liability insurance for renters and medical bills.
You’re able to set the coverage limits for these categories when you sign up for a Lemonade policy. Lower coverage limits might save you a few bucks on your monthly premiums—but they might also leave you with insufficient coverage when you have to make a claim. You’ll also need to figure out your deductible. It’s a balancing act and one that requires you to think about your property and lifestyle. Take a few minutes to apply to see your renters insurance quote to get a sense of your insurance options.
Also, if you’ve got valuables that are especially pricey or important—things like engagement rings, fancy cameras, musical instruments, or artworks—you can add ‘scheduled personal property coverage’ for those items. At Lemonade, we simply call it ‘Extra Coverage’—here’s a bunch more info about that.
How can I lower my renters insurance rate in Indiana?
Renters insurance is generally quite affordable, but there are still some ways you can cut down on costs. Here are a few:
Look for discounts
Many insurers offer certain discounts that can help reduce your renters insurance premium. At Lemonade we offer discounts for the following:
- Check for security devices: Check to see if your rental property has a fire alarm or burglar alarm—you could qualify for a discount.
- Pay in full: Paying your annual premium in full rather than month-to-month will earn you a discount with many insurance providers, including Lemonade.
- Bundle: One of the easiest ways to save money on your renters insurance is to bundle multiple policies. You can get a discount by bundling renters insurance with car insurance, for instance. Or, if you’re a pet owner, you can bundle renters with pet insurance by clicking the button below.
Adjust your deductible and coverage amounts
Raising your deductible (aka the amount you’d have to pay out of pocket if you need to file a claim) will automatically lower your premium. Lowering your total coverage amount will also save you some money.
Just make sure that your stuff is still adequately covered should disaster strike, and that you have enough liability coverage in the event that you accidentally injure another person or their property.
Getting a Lemonade renters insurance quote in Indiana
Getting renters insurance doesn’t have to be a hassle. With Lemonade, the process is quick, easy, and even kind of fun. You can get a policy in less than 2 minutes—all thanks to the power of tech.
Just hop on the Lemonade app, answer a few simple questions, and AI Maya will instantly crunch the numbers and provide you with a personalized renters insurance quote. No paperwork, no phone calls, no stress.
Need to make changes later? Whether your landlord requires updated coverage or you realize your stuff is worth more than you thought, you can tweak your policy anytime on the app using Lemonade’s Live Policy feature.
Filing a claim is just as easy. If something goes wrong, just chat with AI Jim, Lemonade’s claim bot, and quickly share what happened. The best part? 30% of claims are approved in as little as 3 seconds.
But Lemonade doesn’t stop there. Any premiums left at the end of the year go to a charity of your choice through our annual Giveback program. That means you’re not just protecting your belongings—you’re contributing to a good cause.
With Lemonade, renters insurance in Indiana is fast, fair, and designed to make life easier. Why wait? Get started today.
A few quick words, because we <3 our lawyers: This post is general in nature, and any statement in it doesn’t alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. You’re encouraged to discuss your specific circumstances with your own professional advisors. The purpose of this post is merely to provide you with info and insights you can use to make such discussions more productive! Naturally, all comments by, or references to, third parties represent their own views, and Lemonade assumes no responsibility for them. Coverage and discounts may not be available in all states.
