Best practice guidance - single index vs. multiple indices

Hey all - I’m fairly new to Algolia & hoping to get some best practice guidance on whether to use a single index or multiple indices for website content. We have multiple content types for items like locations, news articles, events, content pages, etc. They all share some common fields like title, short desc, body, category, publish date, etc. They have content type specific fields; e.g. location has address, event has event date, etc.

I feel like we should use a single index that includes all content types & then use replica indices if we need content type specific ranking formulas. If I understand it correctly, the other option is to implement a multi-index search via InstantSearch. For that scenario, I’m having trouble groking how the index specific ranking formulas would be combined into one search experience.

I’ve googled around for getting started strategy documents, but haven’t had much luck. Any insights or perspective would be appreciated - Thanks!