One of the many criteria that are used to help calculate the cost of insurance is where you choose to live. Regions with more people or even just more weather-related claims tend to have higher rates, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.
The information below ranks the most expensive areas in Indiana for drivers over age 60 to buy car insurance in. Indianapolis comes in at #8 with a yearly cost of $1,050 for the average insurance policy, which is approximately $88 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Gary | $1,401 |
| 2 | Hammond | $1,314 |
| 3 | Portage | $1,104 |
| 4 | Lawrence | $1,099 |
| 5 | Merrillville | $1,095 |
| 6 | Evansville | $1,077 |
| 7 | Terre Haute | $1,077 |
| 8 | Indianapolis | $1,050 |
| 9 | Jeffersonville | $1,048 |
| 10 | Kokomo | $1,041 |
| 11 | Anderson | $1,031 |
| 12 | New Albany | $1,028 |
| 13 | Bloomington | $998 |
| 14 | Columbus | $984 |
| 15 | Fort Wayne | $976 |
| 16 | South Bend | $976 |
| 17 | Mishawaka | $965 |
| 18 | Carmel | $957 |
| 19 | Elkhart | $956 |
| 20 | Muncie | $955 |
| 21 | Fishers | $945 |
| 22 | Richmond | $944 |
| 23 | Greenwood | $931 |
| 24 | Noblesville | $930 |
| 25 | Lafayette | $899 |
| Find Cheaper Rates Go | ||
Prices are approximated as vehicle location can decrease or increase auto insurance rates considerably.
Locating cheap car insurance is not the easiest thing to accomplish, and figuring out which company offers the best car insurance rates for drivers over age 60 will take even more shopping around. Every car insurance company uses their own method to establish rates, so let’s begin by examining the overall cheapest car insurance companies in Indiana.
Compare Cheap Insurance Quotes for Age 60+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | Cincinnati Insurance | $658 |
| 3 | USAA | $661 |
| 4 | Erie | $733 |
| 5 | Western Reserve | $838 |
| 6 | Indiana Farmers Mutual | $849 |
| 7 | The Hartford | $889 |
| 8 | Auto-Owners | $915 |
| 9 | Nationwide | $958 |
| 10 | Motorists Mutual | $986 |
| 11 | State Farm | $987 |
| 12 | Utica National | $995 |
| 13 | Hastings Mutual | $1,003 |
| 14 | Safeco | $1,003 |
| 15 | Farmers | $1,022 |
| 16 | Westfield | $1,061 |
| 17 | Wolverine Mutual | $1,061 |
| 18 | State Auto | $1,131 |
| 19 | GEICO | $1,133 |
| 20 | Progressive | $1,139 |
| Compare Rates Now Go | ||
Travelers may have some of the most affordable car insurance rates in Indianapolis at around $620 a year. This is $620 less than the average rate paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve also rank well as some of the more affordable Indianapolis, IN auto insurance companies.
As illustrated above, if you have coverage with Western Reserve and switched to Cincinnati Insurance, you may realize yearly savings of in the vicinity of $180. Policyholders with Indiana Farmers Mutual may save as much as $191 a year, and The Hartford policyholders might lower prices by $231 a year.
Bear in mind that those policy rates are averaged across all ages of drivers and types of vehicles and and are not calculated with a specific zip code for drivers over age 60. So the auto insurance company that fits your age and vehicle best may not even be in the top 36 companies shown above. That helps illustrate why you need to get auto insurance quotes using your own driver and vehicle profiles.
Types of discounts on Indianapolis car insurance rates
Car insurance companies that offer quotes for drivers over age 60 may have discounts that may potentially lower prices by as much as 30% if you qualify for them. Popular car insurance companies and their offered discounts are included below.
- State Farm has discounts for multiple autos, good student, student away at school, multiple policy, and defensive driving training.
- Liberty Mutual offers premium reductions for newly retired, new move discount, good student, hybrid vehicle, exclusive group savings, new graduate, and new vehicle discount.
- American Family policyholders can earn discounts including good student, air bags, accident-free, mySafetyValet, and early bird.
- Progressive offers discounts including multi-vehicle, good student, continuous coverage, multi-policy, homeowner, online quote discount, and online signing.
- Farmers Insurance includes discounts for electronic funds transfer, distant student, homeowner, multi-car, good student, and mature driver.
- Auto-Owners Insurance has savings for mature driver, teen driver, safe driver, anti-theft, and anti-lock brakes.
- SAFECO may include discounts for teen safety rewards, anti-theft, drive less, homeowner, teen safe driver, and bundle discounts.
The diagram below compares insurance premiums with and without policy discounts. The data is based on a male driver, no claims or driving violations, Indiana state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with claim-free, marriage, accident-free, passive restraint, homeowner, and defensive driving course discounts applied. When discounts are factored in, theaverage yearly reduction on car insurance for drivers over age 60 is 30% or $590.
Careless Indianapolis drivers pay higher rates
The recommended way to maintain the cheapest car insurance rates in Indianapolis for older drivers is to be a careful driver and avoid accidents and traffic violations. The illustration below shows how speeding tickets and at-fault accidents can affect insurance prices for each age group. Data assumes a single female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
The data above shows the average cost of a car insurance policy per year with no accidents or violations is $1,529. Get written up for two speeding tickets and the average cost swells to $2,057, an increase of $528 each year. Then add in two accidents along with the two speeding tickets and the annual cost of car insurance for drivers over age 60 goes up to an average of $3,923. That’s an increase of $2,394, or $199 per month, just for not maintaining a clean driving record!
How to find the cheapest auto insurance for drivers over age 60
The list below summarizes some of the better money-saving ideas that can help Indiana drivers quote cheap auto insurance.
- Avoid getting tickets or violations
- Do not insure for full coverage
- Don’t have frequent claims
- Increase your deductibles
- Avoid having at-fault accidents
- Compare rate quotes frequently
That final tip is incredibly valuable, as was stressed in this write-up. Prices charged by companies fluctuate constantly, so drivers shouldn’t be resistant to switch to a new company if a better rate can be found.
We understand brand loyalty, but it’s not a good idea if it’s costing you money that could be used for better things. It only takes a couple minutes to shop around to find cheaper auto insurance for drivers over age 60 in Indianapolis.
If you have questions and prefer to have professional advice when shopping for cheaper insurance for older drivers, the agencies below can probably answer your questions and help you decide which auto insurance coverages would be the best in your situation. To locate an agency by location nearest to you, click the button link following the list.
- Haleh Krauter – State Farm Insurance Agent
11204 Fall Creek Rd – Indianapolis, IN 46256 – (317) 849-9996 - Tia Walker – State Farm Insurance Agent
2169 Glebe St #100a – Carmel, IN 46032 – (317) 890-1200 - Affordable Insurance Agency
10 S Mickley Ave – Indianapolis, IN 46241 – (317) 484-9195 - Steffey Hatoway Insurance
8365 Keystone Crossing #202 – Indianapolis, IN 46240 – (317) 334-3743