Shopping around for the best car insurance in Indiana involves weighing all your options.
Although selecting the cheapest premium is the most obvious choice, it’s vital that you find a company that gives you sufficient coverage and offers a reliable claims process and professional customer service.
You should think about each of these items before you make a final decision to make sure you’re covered in case of an accident.
The main factors that impact your car insurance rate include your age, driving record, gender, the make and model of your vehicle, where you live, and other considerations about your locality.
The information below contains the answers you need to find the best car insurance in Indiana at a cost that won’t break the bank.
Average Cost of Car Insurance in Indiana
Once you learn the average cost of car insurance for vehicles in Indiana, you can determine if the rates you’ve been quoted are reasonable.
According to the National Association of Insurance Commissioners, insurance rates in Indiana increased by just $45 between 2011 and 2015.
The price of insurance in Indiana is lower compared to its neighboring states, and it’s about $255 cheaper than the national average.
The price differential varies considerably; Ohio is just $34 higher, but Michigan insurers pay a lot more at $1,364.
|Average Cost of Car Insurance in Indiana||$755.03|
|Average Cost of Car Insurance in Michigan||$1,364.00|
|Average Cost of Car Insurance in Illinois||$884.56|
|Average Cost of Car Insurance in Kentucky||$938.51|
|Average Cost of Car Insurance in Ohio||$788.56|
|Countrywide Average Cost of Car Insurance||$1009.38|
Several things about where you live impact the price you pay for your insurance, including the following four:
Traffic Conditions in Indiana
Conditions, such as traffic density and accident rates, are part of the calculations used by most insurance providers to determine risk and assign insurance rates.
When you evaluate the information below, remember that traffic is going to be worse in urban areas than in smaller towns and rural areas.
According to the 2014 on traffic density, there were 819,082 vehicle miles driven per total highway miles throughout Indiana, which is somewhat higher than the national average of 724,348.
When you look at vehicle miles per registered mile, which is based on the total number of miles traveled compared to the total number of registered vehicles in the state, Indiana is again higher than the national average.
Indiana comes in at 13,680, while the U.S. average is 12,010.
Fatal accidents are above average, at a rate of 0.13 per 1,000 registered vehicles, which is exactly the same as the U.S. average.
These somewhat higher traffic density and accident rates may increase the cost of car insurance for certain drivers in Indiana.
Vehicle Theft Rates in Indiana
According to the Insurance Information Institute, Indiana does not appear on the “Top 10 Most and the Fewest Number of Motor Vehicle Thefts for 2016” list.
According to the Federal Bureau of Investigation (FBI), in 2016 an estimated total of 222.1 auto thefts occurred per 100,000 residents throughout Indiana.
This rate is lower than the national average of 236 auto thefts per 100,000 residents but higher than that of Michigan, which is 203 auto thefts per 100,000 residents.
A good way to keep your insurance rates down in Indiana is to opt for a vehicle with below-average theft rates.
The National Insurance Crime Bureau’s Hot Wheels Report reveals that the Ford full-size pickup and Chevrolet full-size pickup are the most stolen vehicles in Indiana. In 2016 alone, a total of 719 Ford full-size pickups and 616 Chevrolet full-size pickups were stolen.
Other popular targets of theft in the state are the Chevrolet Impala, the Dodge full-size pickup, and the Chevrolet Malibu.
Population Density in Indiana
Population density in your area shouldn’t directly affect what you pay for insurance, but it factors into other items that influence your rate. Higher population densities typically mean more vehicles on the road and, therefore, more auto theft and accidents.
Insurance companies consider these higher population rates to be a risk, and that results in higher premiums for consumers. Indiana has a higher than average population density, at 184 people per square mile. The U.S. average is 90 people per square mile.
Population densities are higher in metropolitan areas than in rural areas and towns, so if you are among the 78.2 percent of Indianans living in an urban area, you may pay higher premiums.
Disposable Income in Indiana
Disposable income also has an indirect effect on your insurance price. States with higher disposable incomes tend to have expensive vehicles, leading to higher theft rates as well as higher repair and replacement expenses.
The insurance companies try to counterbalance these costs by charging more expensive premiums to customers. According to the NAIC, in 2014 the per capita disposable income per person throughout Indiana was $36,364.
This figure is lower than the national average of $40,859 but on par with that of Michigan at $36,419 and Ohio at $37,490.
Companies with the Best Car Insurance in Indiana
When you’re ready to buy car insurance in Indiana, think about all your options.
It’s tempting to look for the lowest rate, yet it’s equally important to compare more than just price quotes.
Researching the customer reviews, coverage options, and financial strength of at least three insurance providers can give you with a good idea of which carrier can offer you the best coverage and rates.
The most effective way to find reliable insurance providers is to look for those with strong reputations and familiar names, such as:
Travelers Insurance is the oldest insurance company in the country. It originated in 1853 in Saint Paul, Minnesota, and has since expanded its operations to several countries throughout the world.
It offers a variety of insurance options to customers, including home, auto, and life insurance.
USAA offers affordable home and auto insurance policies exclusively to military members and their families.
The company has many discounts suited to policyholders that live on military bases.
Progressive is well-known for its quirky commercials featuring spokeswoman “Flo” as well as its popular “Name Your Price” tool.
The company offers plenty of discounts and coverage options to its policyholders.
Allstate is an American insurance provider that opened its doors in 1931. Its insurance options include home, auto, and business-related policies.
It offers a wide range of discount options to its customers and is known for a quick and reliable claims process and high customer satisfaction ratings.
Liberty Mutual is a major industry player that has both personal and commercial insurance policies.
It operates globally and offers its auto insurance customers perks that include a “New Car Replacement” policy and 24/7 roadside assistance.
MetLife Insurance is a financial company that offers insurance, employee benefits, retirement planning services, and annuities.
Its insurance offerings are broad, and the company prides itself on its exemplary customer service.
Esurance operates under the Allstate umbrella and offers simple insurance policies without a lot of bells and whistles.
Its technology-focused solutions include a smartphone app that allows customers to manage their policy, monitor driving habits, and file claims online.
What is Mandatory for Car Insurance in Indiana?
In Indiana, as in most states, there are minimum auto insurance requirements.
According to the Indiana Department of Insurance, all drivers are required to carry liability insurance to cover the cost of property damage or injuries resulting from an accident.
There are minimum limits set by the state of Indiana regarding how much coverage must be obtained by every driver.
Liability Minimums Required:
- $25,000 for bodily injury/death of one person and $50,000 for bodily injury/death of two people
- $25,000 for damage to or the destruction of property in one accident.
Uninsured/Underinsured motorist coverage protects you and your passengers from drivers who don’t have insurance or have insufficient insurance to cover the costs associated with an accident.
Each new Indiana auto liability policy must have uninsured and under insured motorist’s coverage included with the following minimums:
- Uninsured motorist bodily injury: $25,000/$50,000
- Uninsured motorist property damage: $25,000
- Underinsured motorist bodily injury: $50,000
The uninsured and underinsured motorist’s coverage allows drivers to recover these damages from their insurance company.
Drivers have the option to waive this coverage but must have written proof of doing so.
Indiana drivers cannot register their vehicles without proof of insurance.
If requested by law enforcement officers, the driver must provide this proof of insurance, therefore it is required to carry the document in the vehicle at all times.
How to Reduce the Cost of Your Car Insurance
Purchase car insurance to protect yourself, your passengers, and your financial assets.
While insurance often seems expensive, the price is low when compared with the cost of repairs and medical bills that result from car accidents.
To help reduce the price of insurance, you can follow the tips below, which are based on the advice of the Insurance Information Institute:
- Request an increase to your deductible or reduce coverage on older cars
- Reduce your mileage by moving closer to work or telecommuting a few days a week
- Pay your insurance policy once a year or set up discounted automatic payments
Factors such as a good credit rating impact how much you pay for insurance.
The best insurance providers give you discounted rates if you have a good driving record and choose to drive a car with high safety ratings and safety features.
When you’re buying insurance, keep the following information on hand to take advantage of common discounts:
- Vehicle information including make, model, year, VIN, usage habits, safety features, and anti-theft devices for all vehicles on your policy
- Number of drivers in your home, amount of the preferred deductible, where you live and where you park your car
- Information for all drivers on your policy, including their ages and driving history
If you have a teen driver, remember to tell your insurer when he/she gets good grades, attends college, or gets a job, because these factors can lower your rates.
What Can Increase the Cost of Your Car Insurance in Indiana?
Several factors result in higher prices, so try and reduce your risk in these areas to help keep your rates reasonable:
- Overall Value: Driving an expensive car increases the price of your insurance. Pricey vehicles cost more to repair or replace in the event of an accident, which increases the risk to your insurance provider. When you buy a new vehicle, choose one with a lower value to receive a lower rate.
- Traffic Infractions: Violating traffic laws by speeding, running stop lights, or driving under the influence almost always results in higher insurance prices. Obeying the law is the best way to avoid rate increases due to traffic infractions. If you do receive traffic tickets, contest them in court whenever it’s justified and complete any required traffic courses to bring your rate back down incrementally.
You should now feel confident answering any questions about finding the best car insurance in Indiana and in your ability to find the best car insurance in Indiana.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.