Having a renters insurance policy is crucial in case you fall victim to fire, theft, or someone is injured on your property. Renters insurance will help you replace your belongings or cover medical costs in most cases. Our guide below is designed to answer questions you might have about Illinois renters insurance, and why you need it.
Average Renters Insurance Cost in Indiana
Think about how much it would cost to replace your belongings if they were stolen or damaged by thieves, fire, or weather. From electronics to items such as furniture and jewelry, the expense could quickly add up to thousands of dollars.
Now, consider that the average renters insurance premium in Indiana is just $182 per year. That’s a fraction of the cost of replacing your things and 3% less than the national average. Based on a minimum wage salary, you’d have to work only 25 hours to pay for your annual premium. There’s no doubt about it, renters insurance is a sound and relatively cheap investment.
Indiana Rental Insurance Coverage
In Indiana, 47,612burglaries were reported to authorities in 2012. That’s unsettling, as well as costly to those affected. The average loss per burglary in the U.S. is about $2,200. Fortunately, the typical renters insurance policy in Indiana costs much less, and it can help cover the cost of replacing your belonging if they are stolen.
In addition to theft, renters insurance also protects your things should they be damaged or destroyed by a storm, fire, or other covered event. It can even help pay for medical bills if someone is hurt while visiting you. Any way you look at it, renters insurance is worth the cost for all the coverage it provides.
Discounts Make Renters Insurance in Indiana Even More Affordable
There are a couple factors that influence the cost of your premium, such as: where your home is located, value of belongings, and history of claims. While renters insurance only costs a couple hundred dollars a year on average, there are also opportunities to save more money with Indiana renters insurance discounts.
- Multi-Policy: Bundle auto or another insurance plan with renters insurance and save.
- No Prior Claims: You won’t pay extra if you haven’t ever filed a claim.
- Safety Devices: Smoke detectors, sprinklers, anti-theft systems, and home monitoring systems can save you money.
- Higher Deductibles: If you opt into a plan with a higher deductible, you’ll have a lower payment amount every month. Watch out for this though. Your deductible is something you’re responsible for paying if you file a claim.
Indiana Renters Insurance Facts
In Indiana, 30% of residents rent. While they spend about $744 per month for a two-bedroom rental, they only pay about $182 a year for renters insurance. The numbers make it clear — renters insurance offers excellent protection at a great price.
Get Indiana Renters Insurance
Don’t wait another second for something bad to happen if you’re not covered. Call 855-462-2213 to get affordable rental insurance quotes in Indiana.