Finding reliable, cost effective auto insurance is confusing at best, and deciding which companies quote the cheapest car insurance rates for drivers under 21 takes even more diligence. Every car insurance company has their own guidelines to establish rates, so we’ll go over the car insurance companies that tend to be cheaper in Indianapolis.
It’s a good idea to be aware that Indiana car insurance rates are calculated based on many things that control the price of your policy. Price variation is why it is important to compare many different companies to find the most affordable insurance rates for drivers under 21. Car insurance prices can be determined by many different factors and can change substantially, so the cheapest option the last time you shopped your coverage around may now cost much more than other companies.
Find Cheaper Car Insurance for Minors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $596 |
| 2 | Cincinnati Insurance | $678 |
| 3 | USAA | $687 |
| 4 | Erie | $726 |
| 5 | Indiana Farmers Mutual | $841 |
| 6 | The Hartford | $863 |
| 7 | Western Reserve | $872 |
| 8 | Auto-Owners | $915 |
| 9 | Utica National | $956 |
| 10 | Motorists Mutual | $956 |
| 11 | State Farm | $957 |
| 12 | Nationwide | $958 |
| 13 | Safeco | $973 |
| 14 | Hastings Mutual | $1,003 |
| 15 | Westfield | $1,061 |
| 16 | Farmers | $1,064 |
| 17 | GEICO | $1,089 |
| 18 | Wolverine Mutual | $1,094 |
| 19 | Progressive | $1,106 |
| 20 | State Auto | $1,120 |
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Travelers generally has some of the best car insurance rates in Indianapolis at around $596 annually. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual also qualify as some of the cheaper Indianapolis, IN insurance companies.
As shown in the table above, if you are a policyholder with Cincinnati Insurance and switched to Travelers, you could realize an annual premium reduction of around $82. Drivers with USAA might save as much as $91 a year, and Erie insureds might reduce rates by $130 a year.
To find cheaper insurance rates for your vehicle, click here to get a free quote or click through to the companies below.
Be aware that those policy rates are averaged for all ages of drivers and types of vehicles and and are not calculated with an exact zip code location for drivers under 21. So the auto insurance company that fits you best may not even be in the top 36 companies shown above. That points out the importance of why you need to compare prices as often as possible using your own driver information and specific vehicle type.
For minors, one of the largest criteria that help determine the annual cost of car insurance is your address. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The following table sorts the most expensive places in Indiana for drivers under 21 in which to buy car insurance. Indianapolis shows up at #6 costing $1,082 for the average insurance policy, which is about $90 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Gary | $1,360 |
| 2 | Hammond | $1,314 |
| 3 | Portage | $1,137 |
| 4 | Merrillville | $1,128 |
| 5 | Lawrence | $1,088 |
| 6 | Indianapolis | $1,082 |
| 7 | Jeffersonville | $1,080 |
| 8 | Evansville | $1,055 |
| 9 | Kokomo | $1,041 |
| 10 | Terre Haute | $1,035 |
| 11 | New Albany | $1,028 |
| 12 | Anderson | $1,001 |
| 13 | Fort Wayne | $985 |
| 14 | South Bend | $985 |
| 15 | Elkhart | $985 |
| 16 | Fishers | $983 |
| 17 | Richmond | $973 |
| 18 | Bloomington | $968 |
| 19 | Mishawaka | $965 |
| 20 | Greenwood | $960 |
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Table data uses estimated as specific location information can affect price quotes greatly.
The illustration below highlights how deductible selection can change insurance costs when getting quotes for cheap insurance for drivers under 21. The rate quotes are based on a married male driver, full coverage, and no policy discounts are applied.
A 50-year-old driver could cut expenses by $264 a year by increasing from a $100 deductible to a $500 deductible, or save $398 by switching to a $1,000 deductible. Young drivers, like the age 20 example, could roll back prices up to $890 or more by choosing a higher deductible. If you make the decision to raise deductibles, it will be necessary to have enough spare savings to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Cautious Indianapolis drivers save money
One of the best ways to earn affordable car insurance premiums in Indianapolis for minors is to drive safe and avoid accidents and violations. The information below shows how violations and at-fault accidents can raise yearly insurance costs for each different age group. The premiums assume a single female driver, full coverage, $100 deductibles, and no discounts are applied.
In the previous example, the average cost of a car insurance policy in Indianapolis per year with no violations or accidents is $1,529. Factor in two speeding tickets and the average cost jumps to $2,057, an increase of $528 each year. Now add in one accident along with the two speeding tickets and the annual cost of car insurance for drivers under 21 jumps again to an average of $2,583. That’s an increase of $1,054, or $88 per month, just for not driving responsibly!
Indiana car insurance companies
Buying coverage from a high-quality auto insurance provider is hard considering how many companies there are to choose from in Indianapolis. The company information in the next section could help you select which car insurance providers to look at when shopping insurance around for drivers under 21.
These ratings are only comprised of the largest companies in America, so companies with more of a regional focus are not taken into consideration for the list. To get price quotes from these and other top-rated companies, click this link.
Top 10 Major Auto Insurance Providers in Indianapolis Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- Allstate
- 21st Century
- Travelers
Top 10 Major Auto Insurance Providers in Indianapolis Ranked by A.M. Best Rating
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Tips to find low-cost insurance for drivers under 21
The list below summarizes a few thrifty solutions that can help drivers locate lower-cost car insurance.
- Choose a safer vehicle and pay lower rates
- Be a safe driver
- Do not get into accidents that are your fault
- Better credit scores save money
- Higher deductibles mean lower rates
- Keep rates low by shopping around frequently
The last idea is extremely crucial, as we noted in the prior article. Insurance prices in Indianapolis adjust often, so drivers shouldn’t hesitate to buy a policy from a new company if a better rate can be found. Brand loyalty is not necessarily bad, but it’s not recommended if that faithfulness ends up costing you hundreds every year. Spend a few minutes and shop around to find cheaper insurance for drivers under 21.