Renters Insurance Indiana

The average estimated cost of a rental insurance policy in Indiana was $187 a year in 2013. Renters insurance is cheaper than most people realize; average homeowners insurance is $820 a year in Indiana

Comparing Renters and Owners Insurance in 2013 in Indiana

In 2012, there were 47612 burglaries reported in Indiana. The landlord's policy does not cover renter's damages like burglary, and to protect oneself from events like burglary, fire and similar disasters renters insurance is critical.

Renters Insurance Coverage Types:

Actual cash value policy:

This policy covers the depreciated value of the loss. For instance, that Personal Computers you bought for $2010 might only be worth $1010 six months later – and that's all you're going to get for it.

Replacement Coverage Policy in Indiana:

Quoting the same example, the insurance essentially may not pay for the Personal Computers but one will get adequate amount to buy another laptop same as the lost/damaged one. The replacement cost insurance in Indiana costs around $46.75 more than the actual cash value policy.
Taking into account the median rent in Indiana as $810, the average renters insurance of $20 per month is 2.47% of median monthly rent.

Estimated Renters Insurance for Different House Types in Indiana

House Type	Median Rent	Estimated Renters Insurance
Single Fam	$940	$216
Duplex	$650	$149
One Bed	$560	$128
Two Bed	$700	$161
Three Bed	$1,000	$230

Deductibles in Indiana:

In Indiana, by choosing a $500 deductible over a $250 deductible, an average of $20.57 can be saved on the insurance premium.