No, renters insurance isn't mandatory in Indiana unless it's included as a requirement in your lease agreement.
Nonetheless, having coverage is really important if you want protection for your personal belongings and liability. It also covers you for additional living expenses if you need to move out of your place temporarily due to things like fire, theft, or vandalism.
Renters insurance coverages
Some renters think their landlord will foot the bill if personal items are damaged. Not so. Even though the landlord insures the rental structure itself, it's usually up to you to protect the contents of your place (like clothing, artwork, jewelry, etc.).
Renters insurance in Indiana can offer:
Personal property coverage
This protects your belongings from damage due to a covered risk, like burglary or fire. It can even cover your stuff while you're on the move (like if valuables are taken from your car or out of your suitcase).
Nobody likes to think about it, but you could end up with a lawsuit if a guest is injured at your home. Liability coverage can help cover your legal costs when accidents happen.
If a guest, say, burns themselves on a cookie sheet you just took out of the oven, medical payments coverage will help cover the bills to fix them up.
Additional living expenses
Coverage even helps pay for incremental living expenses like hotels and food if a covered loss forces you to live elsewhere temporarily.