Buying cheaper car insurance for a Jeep Grand Cherokee relies on many different factors such as how far you drive to work, whether or not you have prior claims, and citations or violations on your driving record. Drivers pay approximately $960 per year to insure their Grand Cherokee, but that amount is a projection using a 50-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.
More likely than not, you may not be 50 years old (or even male), maybe you are married instead of single, or maybe you don’t qualify for the same discounts. Having the smallest difference in the factors used in pricing a policy can result in a massive change in how much coverage for a Jeep Grand Cherokee costs.
Everyone has unique insurance needs, and this illustrates why the best method for finding the cheapest rates for your Jeep is to compare as many rates as possible. It takes less than five minutes and you will receive rate quotes from some of the best companies that sell coverage in Indiana.
Compare Jeep Grand Cherokee Insurance Rates
Your Jeep’s trim level will influence the annual cost of coverage, so the cost to insure a Grand Cherokee Laredo 2WD will be $106 lower than the insurance cost for the more well-appointed Grand Cherokee SRT-8 4WD trim level, as shown below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Grand Cherokee Laredo 2WD | $208 | $450 | $318 | $18 | $94 | $1,088 | $91 |
| Grand Cherokee Laredo 4WD | $208 | $450 | $318 | $18 | $94 | $1,088 | $91 |
| Grand Cherokee Limited 2WD | $234 | $530 | $318 | $18 | $94 | $1,194 | $100 |
| Grand Cherokee Limited 4WD | $234 | $530 | $318 | $18 | $94 | $1,194 | $100 |
| Grand Cherokee SRT-8 4WD | $234 | $530 | $318 | $18 | $94 | $1,194 | $100 |
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Price information does not factor in vehicle location which can alter coverage rates significantly.
Finding decent, cheap insurance is difficult, and determining which company has the best insurance rates for a Jeep Grand Cherokee calls for even more diligence.
Every car insurance company has a different formula to set premium rates, so let’s take a look at the most budget-friendly insurance companies in Indianapolis, IN.
Best Car Insurance Prices for Your Jeep
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $596 |
| 2 | USAA | $661 |
| 3 | Cincinnati Insurance | $684 |
| 4 | Erie | $733 |
| 5 | Indiana Farmers Mutual | $849 |
| 6 | The Hartford | $863 |
| 7 | Western Reserve | $864 |
| 8 | Auto-Owners | $906 |
| 9 | Nationwide | $958 |
| 10 | Utica National | $965 |
| 11 | State Farm | $967 |
| 12 | Safeco | $973 |
| 13 | Motorists Mutual | $996 |
| 14 | Hastings Mutual | $1,013 |
| 15 | Farmers | $1,022 |
| 16 | Westfield | $1,072 |
| 17 | Wolverine Mutual | $1,072 |
| 18 | State Auto | $1,087 |
| 19 | GEICO | $1,100 |
| 20 | Progressive | $1,106 |
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Travelers may offer some of the cheapest car insurance rates in Indianapolis at around $596 per year. This is $644 less than the average price paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual also are some of the most economical Indianapolis, IN insurance companies.
As the rates illustrate above, if you are currently insured with Erie and switched to USAA, you might realize an annual savings of upwards of $72. Drivers with Indiana Farmers Mutual may save as much as $188 a year, and The Hartford insureds might realize rate reductions of up to $202 a year.
To see if your current coverage is too expensive, click here to start a quote or quote rates from the companies below.
Bear in mind that those estimates are averages for all insureds and vehicles and do not factor in a specific vehicle garaging location for a Jeep Grand Cherokee. So the company that is most affordable for your situation may not even be in the top 36 companies shown above. That illustrates why you need to compare as many prices as possible using your own individual information.
Does full coverage make sense?
Finding cheaper insurance should be important to most vehicle owners, and one easy way to buy cheaper insurance for a Jeep Grand Cherokee is to only buy liability coverage. The chart below illustrates the comparison of premium costs with full physical damage coverage compared to only buying liability only. The data assumes no driving violations, no at-fault accidents, $250 deductibles, marital status is single, and no policy discounts are applied.
As an average for all age groups, full coverage on your policy costs $1,752 per year over liability only. Lot’s of drivers question when is the right time to remove full coverage. There is no definitive guideline of when to stop paying for full coverage on your policy, but there is a broad guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
There are some scenarios where dropping physical damage coverage is not recommended. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
Your cheap Grand Cherokee insurance may actually be overpriced
Indianapolis insurance rates are calculated based on many things that may substantially change the price you have to pay for coverage. Simply improving your credit, moving to a different location, or having a fender bender can produce rate changes that may make certain companies much cheaper than others.
Not only that, but companies modify rates multiple times each year to adjust for gains or losses. Larger than normal claims may cause more expensive premiums, while a better claims history can result in lower-priced Grand Cherokee insurance rates.
To illustrate this example, the data below compares the cheapest car insurance in Indianapolis, IN for a 30-year-old female driver with no prior accidents, a clean driving record, and solid credit. If we estimate rates based on her personal risk profile, Travelers may offer the lowest car insurance rates in Indianapolis at $710 each year. This is $530 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual round out the rest of the best Indianapolis, IN auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates a chargeable claim, less-than-perfect credit, and a few traffic violations. Since each insurance company has a unique approach for setting prices, comparing prices may now result in a substantially altered list of affordable companies as shown below.
Western Reserve now has the cheapest price in Indianapolis with Auto-Owners, Cincinnati Insurance, USAA, and Utica National also having competitive pricing. This example proves why it is important to shop around when trying to find the lowest insurance rates for a Jeep Grand Cherokee. Insurance prices are impacted by many risk factors and can decrease or increase without notice, so the most economical option six months ago may now be priced much higher than other options.
Tips to find budget-friendly auto insurance for a Jeep Grand Cherokee
Lowering your rates is not difficult, and here are some of the recommended penny-pinching ideas that can help Indiana drivers quote low-cost auto insurance.
- You will pay more if you get tickets or have at-fault accidents
- Prevent rate increases by staying accident-free
- Drive a car with a high safety rating
- Pay cheaper rates with good credit scores
- Raise your deductibles
- Look for cheaper rates once a year by shopping around
The last tip is particularly valuable, as was discussed in this piece. Prices charged by companies can change significantly in a year, so don’t be unwilling to buy from a different company if a cheaper price is available. Staying with the same company for years is fine, but is isn’t recommended if that inflexibility results in costing you a wad of cash every year. Take a couple minutes and compare prices to find cheaper insurance for a Jeep Grand Cherokee in Indianapolis.