Finding cost effective auto insurance is not the easiest thing to accomplish, and deciding which company offers the best insurance rates in Indianapolis takes even more perseverance. Each company uses a little different formula for filing rates in each state, so let’s begin by taking a look at the insurance companies with the most affordable rates in Indiana.
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $602 |
| 2 | Cincinnati Insurance | $664 |
| 3 | USAA | $687 |
| 4 | Erie | $705 |
| 5 | The Hartford | $855 |
| 6 | Western Reserve | $864 |
| 7 | Indiana Farmers Mutual | $875 |
| 8 | Auto-Owners | $915 |
| 9 | Motorists Mutual | $966 |
| 10 | State Farm | $967 |
| 11 | Nationwide | $968 |
| 12 | Utica National | $995 |
| 13 | Hastings Mutual | $1,003 |
| 14 | Safeco | $1,003 |
| 15 | Wolverine Mutual | $1,061 |
| 16 | Farmers | $1,064 |
| 17 | Westfield | $1,094 |
| 18 | State Auto | $1,120 |
| 19 | Progressive | $1,128 |
| 20 | GEICO | $1,133 |
| Quote Your Rates Go | ||
Travelers generally has some of the cheapest car insurance rates in Indianapolis at around $602 annually. This is $638 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and The Hartford also qualify as some of the lowest-priced Indianapolis, IN insurance companies.
As shown in the table above, if you are insured with Cincinnati Insurance and switched to Travelers, you could realize annual savings of around $62. Policyholders with USAA could save as much as $85 a year, and Erie customers might lower prices by $103 a year.
If you want to find out if you’re overpaying, click here to start a quote or feel free to get quotes from the companies below.
Remember that these policy prices are averaged across all insureds and vehicles and and are not figured with a price discount in Indianapolis. So the insurer that fits you best may not even be in the top 36 companies in the list above. That point stresses why you need to get rate quotes from many companies using your own individual information.
Indiana car insurance rates by city
For drivers in Indianapolis, one of the more important components that are looked at to determine the amount you pay for auto insurance is where your residence is. Cities with larger populations or higher claim trends like Gary, Merrillville, and Lawrence are more likely to pay higher prices, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The information below lists the most expensive cities in Indiana to purchase a policy in.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Gary | $1,360 |
| 2 | Hammond | $1,275 |
| 3 | Merrillville | $1,128 |
| 4 | Portage | $1,093 |
| 5 | Lawrence | $1,088 |
| 6 | Terre Haute | $1,077 |
| 7 | Jeffersonville | $1,070 |
| 8 | Indianapolis | $1,060 |
| 9 | Evansville | $1,055 |
| 10 | New Albany | $1,028 |
| 11 | Anderson | $1,011 |
| 12 | Kokomo | $1,011 |
| 13 | Bloomington | $988 |
| 14 | Fishers | $983 |
| 15 | South Bend | $976 |
| 16 | Greenwood | $969 |
| 17 | Elkhart | $965 |
| 18 | Mishawaka | $965 |
| 19 | Fort Wayne | $947 |
| 20 | Columbus | $946 |
| 21 | Richmond | $935 |
| 22 | Carmel | $929 |
| 23 | Muncie | $927 |
| 24 | Noblesville | $920 |
| 25 | Lafayette | $899 |
| Compare Rates Now Go | ||
Rate information is comparative as the garaging address in Indianapolis can decrease or increase coverage prices substantially.
The vehicle model you are seeking coverage for is one of the main factors that determines the availability of the best coverage in Indianapolis. Vehicles with limited top-end speed, a great safety record, or a low likelihood of liability claims will cost significantly less to insure than fast, unsafe models. The information below features insurance rates for a handful of the most economical automobiles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Dodge Grand Caravan SE | $622 |
| Ford F-150 XLT Regular Cab 4WD | $630 |
| Honda CR-V LX 2WD | $627 |
| Ford Edge Limited 2WD | $643 |
| Chevrolet Impala LS | $652 |
| Chevrolet Silverado LS Regular Cab 2WD | $657 |
| Chevrolet Equinox LS 2WD | $664 |
| Jeep Grand Cherokee Laredo 4WD | $657 |
| Ford Escape Limited 4WD | $662 |
| Toyota Prius | $675 |
| Volkswagen Jetta S 2.5 Station Wagon | $677 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $690 |
| Toyota Corolla LE | $694 |
| Hyundai Sonata GLS 4-Dr Sedan | $706 |
| Toyota Tacoma 2WD | $714 |
| Get a Custom Quote Go | |
Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Rate information does not factor in specific zip code location which can raise or lower coverage prices noticeably.
Based on these rates, you can assume that makes and models like the Dodge Grand Caravan, Ford F-150, Honda CR-V, and Ford Edge are some of the cheaper vehicles to insure for drivers in Indianapolis.
Get discount Indianapolis insurance rates
Insurance companies that provide policies in Indianapolis may have rate discounts that could reduce prices by 35% or more if you qualify. Large insurance companies and the discounts they provide can be found below.
- AAA may offer discounts for good driver, education and occupation, AAA membership discount, multi-car, and pay-in-full.
- Progressive discounts include online quote discount, multi-policy, good student, multi-vehicle, homeowner, and continuous coverage.
- State Farm includes discounts for student away at school, multiple autos, multiple policy, good student, accident-free, and defensive driving training.
- Esurance policyholders can earn discounts including multi-policy, online shopper, anti-theft, good driver, and anti-lock brakes.
- Nationwide has discounts for accident-free, anti-theft, multi-policy, defensive driving, and easy pay.
The diagram below shows the difference between car insurance rates with and without discounts. The premiums assume a female driver, no accidents or driving violations, Indiana state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second bar shows the rates with marriage, defensive driving course, anti-theft, claim-free, accident-free, and safe-driver discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on insurance in Indianapolis is 28% or $527.
The illustration below illustrates how your deductible choice can raise or lower insurance costs when researching cheap insurance in Indianapolis. The costs are based on a single female driver, full physical damage coverage, and no discounts are applied.
A 40-year-old driver could reduce rates by $222 a year by increasing from a $100 deductible up to a $500 deductible, or save $334 by changing to a $1,000 deductible. Young drivers, like the Age 20 chart data, could drop their prices up to $566 or even more by choosing a larger deductible amount. When choosing a higher deductible, it will be important to have enough savings set aside to allow you to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Driving violations and accidents
The ideal way to enjoy affordable insurance rates for drivers in Indianapolis is to be a careful driver and avoid accidents and keep your driving record clean. The chart below highlights how speeding tickets and at-fault accidents can influence annual premium costs for each age group. The data assumes a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
In the prior example, the average cost of auto insurance in Indianapolis per year with no violations or accidents is $1,598. Factor in two speeding tickets and the average cost surges to $2,104, an increase of $506 each year. Now add in two accidents along with the two speeding tickets and the yearly cost of insurance in Indianapolis jumps again to an average of $4,205. That’s an increase of $2,607, or $217 per month, just for not paying attention while driving!
Why you should compare rates
Indianapolis insurance rates are calculated based on many things that may substantially change the price of your policy. Simply getting older, having a claim, or getting a couple of tickets may prompt premium changes that can make some companies cheaper than before. Additionally, insurance companies file new rates without warning to ensure their profitability. Significantly higher claims can cause more expensive premiums, while a better loss history can cause cheaper Indianapolis car insurance rates.
To help illustrate this point, the data below shows which company has the cheapest car insurance in Indianapolis, IN for a 40-year-old female driver with no prior accidents, a clean driving record, and good financial standing. If we compare prices based on her current risk profile, Travelers might offer the cheapest car insurance rates in Indianapolis at $739 a year. This is $501 less than the average rate paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual are also included in the most affordable Indianapolis, IN auto insurance companies.
Now we will pretend the driver from the first set of rates a claim or two, a lower credit score, and an imperfect driving record. Because each company has a proprietary method to establish rates, getting updated rate quotes most likely will result in a different set of affordable Indianapolis car insurance companies as shown below.
The Hartford now has the cheapest rate in Indianapolis, IN with Cincinnati Insurance, Auto-Owners, Nationwide, and Motorists Mutual now being in the top five. This example illustrates why Indianapolis drivers need to compare rates when trying to get the cheapest car insurance quotes in Indianapolis. Auto insurance prices consist of many factors and can decrease or increase without notice, so the best option three years ago may now be wasting a lot of money.
Tips for finding low-cost insurance in Indianapolis
It is possible to find better rates, and here are a few penny-pinching suggestions that can help drivers locate cheaper auto insurance.
- Do not get traffic citations
- Safe vehicles generally have lower rates
- Claim-free drivers earn discounts
- Do not get into accidents that are your fault
- Insure your home and auto with the same company
- Shop around for cheaper prices often
The final tip is certainly necessary, as was noted in the prior information. Auto insurance rates in Indianapolis go up and down frequently, so don’t be unwilling to switch to a new company if a cheaper price is available.
Loyalty to a specific company is fine, but we do not recommend it if that faithfulness ends up costing you lots of money. It takes less than five minutes to compare prices and find cheaper car insurance in Indianapolis.
The Indianapolis auto insurance agencies shown below can help you determine which coverages and limits you need, as some drivers have questions and prefer to have professional advice when comparing insurance rates for drivers in Indianapolis. It can be difficult to find the best policy on your own, and using a licensed agent can give you comfort knowing your policy gives you adequate protection in case of an accident or claim.
To find an auto insurance agency in your neighborhood, click the button following the list.
- Allstate Insurance: Sarah Franke
916 Shadeland Ave – Indianapolis, IN 46219 – (317) 359-8271 - GEICO Insurance Agent
3837 N High School Rd Suite 10 – Indianapolis, IN 46254 – (317) 216-0932 - Access Auto Insurance
2107 W Washington St – Indianapolis, IN 46222 – (317) 687-8807