You have most likely seen the catchy advertisements from companies like GEICO and State Farm that make promises of dirt cheap rates. So drivers just need to choose the one with the best commercial, right?
It’s just not that easy, however, as there are many unknown elements like where you live in Indianapolis, if you own or rent your home, whether you are married or single, and whether you are male or female, that all have an effect on the price. We will touch on some of these topics and should give you a good beginning to your quest for cheaper car insurance.
The make and model of vehicle requiring insurance is probably the largest consideration when trying to find the best coverage for Uber drivers. Vehicles with high performance, poor crash test ratings, or a history of substantial liability claims will cost more to insure than safer, lower-performance models.
The next table outlines car insurance premiums for a selection of the most economical vehicles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,298 |
| Honda Accord EX 4-Dr Sedan | $1,307 |
| Honda CR-V LX 2WD | $1,298 |
| Ford Edge SE 2WD | $1,301 |
| Toyota Prius | $1,315 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,337 |
| Ford Escape XLT 4WD | $1,374 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,431 |
| Toyota Corolla XLE | $1,480 |
| GMC Sierra SLE Crew Cab 2WD | $1,507 |
| Honda Odyssey EX | $1,517 |
| Volkswagen Jetta SEL 4-Dr Sedan | $1,507 |
| Ford F-150 XLT Crew Cab 2WD | $1,509 |
| Jeep Grand Cherokee Laredo 2WD | $1,536 |
| Ford Explorer Limited AWD | $1,566 |
| Nissan Rogue SL AWD | $1,578 |
| Chevrolet Impala LT | $1,583 |
| Toyota RAV4 Limited 4WD | $1,592 |
| Nissan Altima 2.5 4-Dr Sedan | $1,583 |
| Ford Fusion Sport AWD 4-Dr Sedan | $1,610 |
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Table data does not factor in specific location which can affect auto insurance rates substantially.
Based on these rates, you can presume that cars like the Hyundai Elantra, Honda Accord, Honda CR-V, Ford Edge, and Toyota Prius are going to be a few of the cheaper vehicles to insure for Uber vehicles.
One of the many components that help determine the annual cost of car insurance is where you call home in Indianapolis. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas that tend to be more rural benefit from lower prices.
The following table ranks the most costly cities in Indiana for Uber drivers to buy an auto insurance policy in. Indianapolis makes the list at #5 with an annual cost of $1,082 for coverage, which is around $90 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Gary | $1,388 |
| 2 | Hammond | $1,275 |
| 3 | Portage | $1,126 |
| 4 | Merrillville | $1,106 |
| 5 | Indianapolis | $1,082 |
| 6 | Lawrence | $1,066 |
| 7 | New Albany | $1,059 |
| 8 | Jeffersonville | $1,048 |
| 9 | Evansville | $1,045 |
| 10 | Terre Haute | $1,045 |
| 11 | Anderson | $1,041 |
| 12 | Kokomo | $1,031 |
| 13 | Bloomington | $998 |
| 14 | Elkhart | $995 |
| 15 | Fishers | $983 |
| 16 | Columbus | $975 |
| 17 | Muncie | $965 |
| 18 | Noblesville | $958 |
| 19 | South Bend | $956 |
| 20 | Carmel | $947 |
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Rate information is approximated as vehicle location can revise coverage prices considerably.
Finding dependable, cost effective auto insurance is confusing at best, and figuring out which company offers the cheapest auto insurance rates for Uber drivers takes even more work.
Each auto insurance company has their own guidelines for filing rates in each state, so we’ll go over the auto insurance companies that tend to be cheaper in Indianapolis.
Cheapest Insurance Rates for Your Uber Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | Cincinnati Insurance | $664 |
| 3 | USAA | $687 |
| 4 | Erie | $733 |
| 5 | Western Reserve | $846 |
| 6 | Indiana Farmers Mutual | $867 |
| 7 | Auto-Owners | $879 |
| 8 | The Hartford | $881 |
| 9 | Nationwide | $930 |
| 10 | Utica National | $965 |
| 11 | Motorists Mutual | $986 |
| 12 | State Farm | $987 |
| 13 | Hastings Mutual | $1,003 |
| 14 | Safeco | $1,013 |
| 15 | Farmers | $1,022 |
| 16 | Wolverine Mutual | $1,072 |
| 17 | Progressive | $1,095 |
| 18 | State Auto | $1,098 |
| 19 | Westfield | $1,105 |
| 20 | GEICO | $1,122 |
| Compare Rates Now Go | ||
Travelers may offer some of the cheapest car insurance rates in Indianapolis at around $620 per year. Cincinnati Insurance, USAA, Erie, and Western Reserve would also make the list of some of the cheapest Indianapolis, IN car insurance companies.
As illustrated above, if you currently have coverage with Erie and switched to Travelers, you could see an annual premium reduction of approximately $113. Insureds with Western Reserve may save as much as $226 a year, and Indiana Farmers Mutual policyholders might cut rates by $247 a year.
To find the cheapest rates for your vehicle, click here to start a quote or visit any of the companies below.
Bear in mind that those rates are averages across all insureds and vehicles and do not factor in a specific zip code for Uber drivers. So the company that has the lowest price for you may not even be in the top 36 companies in the list above. That’s why you need to compare as many prices as possible using your own driver information and specific vehicle type.
Get discount Indianapolis auto insurance
Insurance companies that provide coverage for Uber drivers may provide premium discounts that could lower prices by 30% or more if you meet eligibility requirements. A list of companies and their offered discounts are shown below.
- Progressive has discounts for continuous coverage, online signing, homeowner, multi-vehicle, multi-policy, online quote discount, and good student.
- The Hartford offers premium reductions for driver training, air bag, good student, bundle, and anti-theft.
- Mercury Insurance policyholders can earn discounts including multi-car, good driver, age of vehicle, low natural disaster claims, anti-theft, location of vehicle, and ease of repair.
- GEICO may offer discounts for daytime running lights, federal employee, driver training, five-year accident-free, and good student.
- AAA may include discounts for pay-in-full, multi-policy, anti-theft, good student, AAA membership discount, multi-car, and education and occupation.
- State Farm includes discounts for Drive Safe & Save, passive restraint, defensive driving training, Steer Clear safe driver discount, student away at school, driver’s education, and good driver.
The illustration below shows the difference between insurance premiums with and without discounts applied to the premium. The data assumes a female driver, no tickets, no at-fault accidents, Indiana state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, claim-free, homeowner, anti-theft, passive restraint, and defensive driving course discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on auto insurance for Uber drivers is 28% or $337.
The chart below illustrates how your choice of deductibles can affect insurance premiums when quoting cheap insurance for Uber drivers. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
A 50-year-old driver could save $192 a year by changing from a $100 deductible up to a $500 deductible, or save $290 by selecting a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could lower their rates up to $476 or more by choosing a larger deductible amount.
If you do decide to increase your deductibles, it will now be necessary to have spare funds to allow you to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Auto insurance companies ranked
Buying coverage from the best insurance company can be rather challenging considering how many choices there are in Indianapolis. The rank data shown next could help you pick which auto insurance companies to look at when comparing insurance rates for Uber drivers.
These ratings are only comprised of the companies with a significant amount of written premium nationwide, so companies that only write business in Indiana or surrounding areas are not factored into these rankings. To check rates from many more Indiana auto insurance companies, simply click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
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Data Source: Insure.com Best Car Insurance Companies
Are you paying too much for car insurance in Indianapolis?
Indianapolis auto insurance rates are calculated based on many things that will increase or decrease the cost of having a policy. Improving your credit score, buying higher coverage limits, or getting a driving violation may generate price changes resulting in some companies being cheaper than competitors. Not only that, but companies amend premium rates every year or even multiple times each year to adjust for heavy claims or excess profits. A period of increased losses may result in increased rates, while a better claims history may produce lower-cost Indianapolis car insurance rates.
The data below shows which company has the cheapest car insurance in Indianapolis, IN for a 35-year-old male driver with no prior accidents, a clean driving record, and a good credit rating. If we estimate rates based on his current rating profile, Travelers offers the best car insurance rates in Indianapolis at $753 annually. This is $487 less than the average price paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve are also on the list of the top five cheapest Indianapolis, IN auto insurance companies.
In this next rate comparison, we will give the driver from the first set of rates an accident claim, a lower credit score, and a speeding citation. Since every car insurance company has a unique formula to set premium rates, analyzing rates could now result in a different ranking of cheap Indianapolis auto insurance companies as shown below.
The Hartford now has the cheapest rate in Indianapolis with Cincinnati Insurance, Auto-Owners, Nationwide, and USAA also being competitive. This illustrates why consumers need to do a thorough rate comparison when trying to get the most economical car insurance rates for Uber drivers.
Car insurance prices consist of many different factors and change dramatically, so the most economical option the last time you compared rates may now be one of the more expensive options.