An investigation of fluoroindate glass and fiber co-doped with Yb3+/Er3+ ions as a potential temperature sensor was assessed using the fluorescence intensity ratio (FIR) technique. Analysis of thermally coupled levels (TCLs—2H11/2 and 4S3/2), non-thermally coupled levels (non-TCLs—4F7/2 and 4F9/2), and their combination were examined. Additionally, the luminescent stability of the samples under constant NIR excitation using different density power at three different temperatures was carried out. The obtained values of absolute sensitivity (0.003 K−1—glass, 0.0019 K−1—glass fiber 2H11/2 → 4S3/2 transition) and relative sensitivity (2.05% K−1—glass, 1.64% K−1—glass fiber 4F7/2 → 4F9/2 transition), as well as high repeatability of the signal, indicate that this material could be used in temperature sensing applications.