Landlord Insurance in Indiana: Costs, Requirements & Best Providers
Indiana landlord insurance costs somewhat more than the national average. The homeowners benchmark is $2,985 a year, and landlord policies usually run 15-25% higher. Tornadoes and hail account for most of the risk, with Ohio River flooding in the south and lake-effect snow in the north. Get a landlord insurance quote for the actual address, since a rental in Gary and one in Evansville face different problems.
By LandlordTested editorial teamPrices checked
We may earn a commission if you sign up through links on this page. It never changes a ranking. How we make money.
What landlords pay in Indiana
- Homeowners benchmark
- $2,985 a yearAbout $249 a month; 20% above the $2,490 national average.
- Estimated landlord policy
- $3,450-$3,750 a yearLandlord (DP-3) cover typically runs 15-25% above homeowners cover on the same building. Your quote will differ.
- Main hazards
- Tornado, Hail, Wind, Winter storm/freeze, Flood
- Not included
- Flood and earthquakeBoth need separate policies (NFIP or private flood; earthquake endorsement or policy).
Source: NerdWallet, 2026 homeowners (HO-3) median, $400,000 dwelling cover
Landlord insurance providers in Indiana
Both write landlord policies in all 50 states and quote online. Neither publishes prices, so the only way to know your premium is to get a quote for your address.
- 1
Steadily
Our pickSingle-family and 2-4 unit rentals, including vacant and short-term.
8.5/10 provisionalPrice
Quote-based
Pros, cons and who should skip itHide details
Good
- Covers all 50 states.
- Fast online quotes.
- Writes vacant and renovation properties too.
Watch out
- Mixed claim experiences, including wear-and-tear denials.
- Underwritten through a carrier some lenders have queried.
- Flood needs a separate policy.
Skip it if
Anyone who wants a local agent sitting across the desk.
- 2
Obie
Investors with several properties; portfolio policies available.
8.1/10 provisionalPrice
Quote-based
Pros, cons and who should skip itHide details
Good
- All 50 states plus DC.
- Portfolio (blanket) policies for several rentals.
- Covers short-term rentals and renovations.
Watch out
- Claims run through third-party administrators.
- Some reports of non-renewal after claims.
- Support is mostly email.
Skip it if
Landlords who want claims handled by the company they bought from.
Prices checked Oct 18, 2026. Scores are provisional until our account tests are done.
Want to see how Indiana compares? We keep a table of landlord insurance rates by state, with the method behind every figure.
On this page
Where Indiana premiums come from
At $2,985, Indiana’s benchmark is about 20% above the national average. A landlord (DP-3) policy on the same $400,000 house would start around $3,430 to $3,730. Plenty of Indiana rentals are worth well under $400,000 to rebuild, so the real figure for a three-bedroom in Fort Wayne or Muncie is often lower.
Indiana’s premiums reflect frequent wind and hail. Tornadoes cross the state every spring, and summer thunderstorms bring hail to Indianapolis, Lafayette and the northern counties. Expect the insurer to ask the roof age and material, and expect many policies to carry a separate wind and hail deductible. On a $200,000 dwelling limit, a 1% wind and hail deductible is $2,000.
North and south have different problems
Northwest and north central Indiana. Lake-effect snow off Lake Michigan buries South Bend, Michigan City and Elkhart several times a winter. Ice dams, roof leaks and frozen pipes lead the claims. Policies cover sudden pipe bursts, but they expect the heat to stay on and may limit coverage for units left vacant more than 60 days.
Southern Indiana. The Ohio River floods Evansville, Jeffersonville, New Albany and Madison when spring rains run high. Flood is excluded from landlord policies. Lenders require it in FEMA special flood hazard areas, through the National Flood Insurance Program or a private insurer. Basement water from a sewer backup needs its own endorsement.
Southwest Indiana. This corner sits near both the Wabash Valley Seismic Zone and the New Madrid Seismic Zone. Earthquake is excluded from standard policies. Much of the area is also old coal country. Standard policies exclude earth movement, so ask whether mine subsidence coverage is available for your county.
Vacant and older properties
Indianapolis, Gary and smaller cities have many older rental houses, and some sit vacant between tenants or during rehab. A standard landlord policy may not fit a property that’s empty or under renovation. Steadily and Obie both write vacant and renovation coverage, which is built for that gap.
What lenders want
A lender will typically require dwelling coverage at least equal to the loan or the rebuild cost, the lender named as mortgagee, and flood coverage in a mapped zone. Investment-property lenders often want loss-of-rent coverage.
How to lower an Indiana premium
- Replace an aging roof, or use impact-resistant shingles, and ask for the discount.
- Pick a wind and hail deductible you could pay this year from cash.
- Add a sewer backup endorsement and a battery-backed sump pump in basement units.
- Keep claims small or pay them yourself; frequent small claims raise renewal prices.
- Insure several rentals together with one carrier for a portfolio discount.
Indiana deposit rules and your risk
Indiana has no cap on security deposits. You must return the deposit, with an itemized list of damages, within 45 days after the tenancy ends and the tenant returns possession, and the tenant must give a written forwarding address (Ind. Code § 32-31-3). If you don’t send the list on time, the law treats it as agreement that no damages are due, and the tenant can recover the deposit plus attorney fees. A storm claim and a move-out can overlap, so keep the deposit deadline on the calendar even while you deal with the insurer.
Questions landlords ask
The questions we get most, each answered in a paragraph.
How much is landlord insurance in Indiana?
The 2026 NerdWallet benchmark for an Indiana homeowners policy on a $400,000 house is $2,985 a year, about 20% above the $2,490 national average. Landlord policies usually cost 15-25% more. Many Indiana rentals have lower rebuild costs than the benchmark home and price below it. A quote for the address is the only firm figure.
Is earthquake insurance worth it in Indiana?
In southwest Indiana it's worth pricing. The area sits near the Wabash Valley Seismic Zone and the New Madrid Seismic Zone. Standard landlord policies exclude earthquake, so you'd add an endorsement or buy a separate policy, usually with a percentage deductible. In northern and central Indiana, most landlords skip it.
What happens if I miss Indiana's 45-day deposit deadline?
If you don't send the itemized list of damages within 45 days after the tenancy ends and the tenant returns possession, Indiana law treats it as agreement that no damages are due. The tenant can then recover the deposit plus attorney fees. The tenant must give you a written forwarding address for the clock to work.