Finding decent, cost effective insurance is difficult, and finding out which company has the cheapest car insurance rates for 20 year old women requires even more perseverance. Every insurance company has a different process for setting prices, so let’s begin by examining the most competitive car insurance companies in Indianapolis.
We do need to point out that Indianapolis, IN car insurance rates are based on many factors which can substantially change the cost of your policy. Simply improving your credit, moving to a different location, or getting a few speeding tickets can produce rate changes that can now make some companies higher-priced than before.
Best Auto Insurance Prices for Women Age 20
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $602 |
| 2 | USAA | $681 |
| 3 | Cincinnati Insurance | $684 |
| 4 | Erie | $712 |
| 5 | Western Reserve | $846 |
| 6 | The Hartford | $855 |
| 7 | Indiana Farmers Mutual | $867 |
| 8 | Auto-Owners | $906 |
| 9 | Nationwide | $930 |
| 10 | Utica National | $956 |
| 11 | State Farm | $967 |
| 12 | Hastings Mutual | $973 |
| 13 | Safeco | $983 |
| 14 | Motorists Mutual | $986 |
| 15 | Farmers | $1,053 |
| 16 | Westfield | $1,061 |
| 17 | Wolverine Mutual | $1,061 |
| 18 | State Auto | $1,098 |
| 19 | GEICO | $1,100 |
| 20 | Progressive | $1,128 |
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Travelers may offer some of the best car insurance rates in Indianapolis at around $602 a year. This is $638 less than the average price paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve would also make the list of some of the lowest-priced Indianapolis, IN auto insurance companies.
As shown in the table above, if you are a customer of USAA and switched to Travelers, you could see a yearly savings of in the neighborhood of $79. Indiana drivers with Cincinnati Insurance may save as much as $82 a year, and Erie customers might reduce prices by as much as $110 a year.
To see if your current coverage is too expensive, click here to start your custom quote or visit any of the companies below.
Bear in mind that those policy rates are averaged across all insureds and vehicles and are not factoring in an exact zip code location for 20 year old women. So the auto insurance company that can offer you the lowest price may not even be in the list above. That underscores the importance of why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
For young women, one of the largest components that are used to help calculate the amount you pay for auto insurance is where your car is garaged. Cities with more crime and/or more people will most likely have higher rates, whereas areas with less people or fewer weather incidents profit from lower rates.
The following table lists the most costly cities in Indiana for 20 year old women to buy an auto insurance policy in. Indianapolis shows up at #9 having an annual price of $1,050 for the average policyholder, which is approximately $88 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Gary | $1,401 |
| 2 | Hammond | $1,275 |
| 3 | Merrillville | $1,128 |
| 4 | Portage | $1,104 |
| 5 | Lawrence | $1,099 |
| 6 | Evansville | $1,077 |
| 7 | Jeffersonville | $1,070 |
| 8 | New Albany | $1,059 |
| 9 | Indianapolis | $1,050 |
| 10 | Terre Haute | $1,045 |
| 11 | Anderson | $1,031 |
| 12 | Kokomo | $1,001 |
| 13 | Bloomington | $988 |
| 14 | Fort Wayne | $985 |
| 15 | Elkhart | $985 |
| 16 | South Bend | $976 |
| 17 | Greenwood | $969 |
| 18 | Fishers | $954 |
| 19 | Noblesville | $948 |
| 20 | Columbus | $946 |
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Rate quotes are comparative as the garaging address in Indianapolis can increase or decrease coverage rates considerably.
Impact of violations and accidents on rates
The easiest method to receive the best car insurance premiums in Indianapolis for young women is to drive cautiously and not get tickets or have accidents. The information below highlights how speeding tickets and accident claims influence insurance rates for each age group. Data assumes a single female driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
The data charted above shows the average cost of auto insurance in Indianapolis per year with no accidents or violations is $1,265. Get written up for one speeding ticket and the average cost rises to $1,433, an increase of $169 each year. Next add two accidents along with the one speeding ticket and the yearly cost of car insurance for 20 year old women goes up to an average of $2,949. That’s an increase of $1,684, or $140 per month, just for being a less-than-perfect driver!
Should you buy full coverage?
Finding the cheapest car insurance is important to most drivers, and one good way to reduce the cost of insurance for 20 year old women is to not insure for full coverage. The information below illustrates the difference between yearly insurance costs with full physical damage coverage and with liability coverage only. The data assumes a clean driving record, no claims, $500 deductibles, marital status is single, and no discounts are factored in.
Averaged out for all age groups, physical damage insurance costs $1,771 per year more than just buying liability only. At some point, about every driver wonders if paying for full coverage is a waste of money. There is no exact formula to stop paying for comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
There are a few situations where dropping physical damage coverage is not a good idea. If you still owe money on your vehicle, you have to carry full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Which car insurance company is best in Indiana?
Choosing a highly-rated insurance provider can be challenging considering how many companies sell coverage in Indiana. The ranking data listed below may help you choose which coverage providers you want to consider comparing prices from. These rankings are for large insurance companies, so companies that may only write in Indiana are not taken into consideration for this list.
| 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 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
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Data Source: Insure.com Best Car Insurance Companies
Indianapolis car insurance rates
Indianapolis car insurance rates are influenced by many factors which can substantially decrease or increase the price you have to pay for coverage. Improving your credit rating, buying a home instead of renting, or getting caught speeding may generate price changes resulting in some rates now being cheaper in comparison to the competition. Not only that, but insurers change rates every year or even multiple times each year in order to be able to pay unexpected claims. Heavier than normal losses may result in higher priced premiums, while better underwriting can result in cheaper Indianapolis car insurance rates.
To illustrate this point, the graph below shows a variety of companies that have the cheapest car insurance in Indianapolis, IN for a 45-year-old female driver with no prior accidents, a clean driving record, and solid credit. When comparing rates based on her current risk factors, Travelers may have the cheapest car insurance rates in Indianapolis at $689 a year. This is $551 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are also included in the top five cheapest Indianapolis, IN auto insurance companies.
In the next rate comparison, we’ll give the driver from the first set of rates a chargeable accident, a lower credit rating, and a blemish on her driving record. Due to the fact that every auto insurer has a proprietary formula for setting rates, getting updated rate quotes could result in a different set of the cheapest car insurance companies in Indianapolis as shown below.
Indiana Farmers Mutual now has the cheapest insurance rate in Indianapolis with Auto-Owners, Nationwide, Motorists Mutual, and Cincinnati Insurance also being competitive. This example shows why drivers need to compare many different companies to get affordable insurance quotes for 20 year old women.
Prices are impacted by many things and change substantially, so the most economical option a year ago may now be costing you a lot of money.