Determining which companies have the lowest-priced insurance rates for a company car will involve a little more effort in order to find the lowest price quote. Each auto insurance company used slightly different criteria to set premium rates, so we’ll go over the insurance companies that tend to be cheaper in Indiana.
Best Cheap Insurance Rates in Indiana
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | Cincinnati Insurance | $664 |
| 3 | USAA | $667 |
| 4 | Erie | $712 |
| 5 | Western Reserve | $864 |
| 6 | Indiana Farmers Mutual | $867 |
| 7 | The Hartford | $881 |
| 8 | Auto-Owners | $906 |
| 9 | Utica National | $956 |
| 10 | Motorists Mutual | $956 |
| 11 | State Farm | $957 |
| 12 | Nationwide | $968 |
| 13 | Safeco | $973 |
| 14 | Hastings Mutual | $1,003 |
| 15 | Farmers | $1,053 |
| 16 | Wolverine Mutual | $1,072 |
| 17 | GEICO | $1,089 |
| 18 | Westfield | $1,094 |
| 19 | Progressive | $1,095 |
| 20 | State Auto | $1,098 |
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Travelers may have some of the most affordable car insurance rates in Indianapolis at around $620 annually. This is $620 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve also are some of the lowest-priced Indianapolis, IN auto insurance companies.
As shown above, if you are a customer of Western Reserve and switched to Cincinnati Insurance, you could realize a yearly price reduction of in the neighborhood of $200. Customers with Indiana Farmers Mutual may save as much as $203 a year, and The Hartford customers might cut rates by $217 a year.
To find out how much you can save, click here or click several companies below for low rates.
Bear in mind that those rates are averages for all drivers and vehicles in Indiana and and are not figured with a specific location for a company car. So the company that is most affordable for your situation may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
One of the many considerations that determine the amount you pay for auto insurance is where you call home in Indianapolis. Cities with larger populations or higher claim trends likely pay more, whereas less populated areas benefit from lower coverage costs.
The following table rates the most costly cities in Indiana for a company car to purchase auto insurance in. Indianapolis comes in at #5 with a yearly premium of $1,092 for the average policy, which is approximately $91 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Gary | $1,347 |
| 2 | Hammond | $1,327 |
| 3 | Merrillville | $1,095 |
| 4 | Portage | $1,093 |
| 5 | Indianapolis | $1,092 |
| 6 | Evansville | $1,077 |
| 7 | Lawrence | $1,066 |
| 8 | Jeffersonville | $1,038 |
| 9 | Terre Haute | $1,035 |
| 10 | New Albany | $1,028 |
| 11 | Anderson | $1,011 |
| 12 | Kokomo | $1,011 |
| 13 | South Bend | $985 |
| 14 | Fort Wayne | $976 |
| 15 | Fishers | $974 |
| 16 | Bloomington | $968 |
| 17 | Elkhart | $965 |
| 18 | Noblesville | $958 |
| 19 | Carmel | $957 |
| 20 | Columbus | $955 |
| 21 | Muncie | $955 |
| 22 | Mishawaka | $945 |
| 23 | Richmond | $935 |
| 24 | Greenwood | $931 |
| 25 | Lafayette | $899 |
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Information shown are estimated as the garaging address in Indianapolis can revise coverage rates substantially.
The vehicle that is being insured is a large consideration when quoting cheap coverage for a company car. Vehicles with lower acceleration and performance, an excellent safety record, or a track record of few liability claims will cost much less to insure than fast, unsafe models.
The table below presents car insurance prices for a number of the most economical automobiles to insure in Indiana.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,172 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,242 |
| Toyota Prius | $1,269 |
| Honda CR-V EX 4WD | $1,342 |
| Hyundai Elantra SE Touring Station Wagon | $1,422 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,454 |
| Ford Fusion SEL 4-Dr Sedan | $1,456 |
| Dodge Ram Crew Cab TRX 2WD | $1,481 |
| Ford F-150 XLT Super Cab 4WD | $1,505 |
| Honda Accord EX 2-Dr Coupe | $1,525 |
| Ford Edge SE AWD | $1,527 |
| Chevrolet Silverado LTZ Crew Cab 2WD | $1,551 |
| Toyota Camry Hybrid | $1,560 |
| Toyota RAV4 2WD | $1,556 |
| Dodge Grand Caravan CV | $1,576 |
| Start a Quote Go | |
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Premium amounts do not factor in vehicle garaging location which can raise or lower price quotes substantially.
Based upon the table data, you can figure that vehicles like the Ford Escape, Volkswagen Jetta, Toyota Prius, Honda CR-V, and Hyundai Elantra will be a few of the cheapest vehicles to insure for your employer’s vehicle.
Ending up with the best insurer is difficult considering how many choices drivers have in Indianapolis. The ranking data listed below may help you select which companies to look at comparing rates from.
The ratings below are only comprised of companies that insure vehicles nationwide, so companies without a large exposure are not included in the list. To compare price quotes from these and other top-rated companies, just 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 |
| 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 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Rate increases following a ticket or accident
The best way to maintain cheap insurance premiums in Indianapolis for your employer’s vehicle is to drive safe and have a clean driving record. The information below highlights how traffic violations and accident claims increase annual premium costs for different age categories. The data is based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied.
In the previous chart, the average cost of car insurance in Indiana per year with no accidents or violations is $1,840. Add in one speeding ticket and the average cost rises to $2,113, an increase of $272 each year. Now add in one accident along with the one speeding ticket and the yearly cost of insurance for a company car goes up to an average of $2,894. That’s an increase of $1,054, or $88 per month, just for not keeping your driving record clean!
Get discounts on Indianapolis insurance
Auto insurance companies that sell policies for a company car may provide rate discounts that can reduce rates by as much as 35% or more if you can meet the requirements. A few of the larger companies and some of their more popular discounts are outlined below.
- GEICO may offer discounts for military active duty, driver training, seat belt use, anti-theft, multi-policy, and five-year accident-free.
- MetLife has savings for multi-policy, good student, good driver, defensive driver, claim-free, accident-free
- State Farm offers discounts for defensive driving training, passive restraint, Steer Clear safe driver discount, accident-free, and good driver.
- Progressive includes discounts for multi-vehicle, continuous coverage, homeowner, online signing, good student, and online quote discount.
- Mercury Insurance policyholders can earn discounts including accident-free, multi-policy, age of vehicle, low natural disaster claims, and professional/association.
- 21st Century discounts include air bags, good student, early bird, anti-lock brakes, and theft prevention.
- Allstate has discounts for anti-lock brakes, good student, teenSMART discount, auto/life discount, and defensive driver.
The diagram below illustrates the comparison of insurance costs with and without discounts being applied to the rates. The prices are based on a female driver, no accidents or driving violations, Indiana state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with anti-theft, safe-driver, claim-free, marriage, accident-free, and multiple vehicle discounts applied. In this example, the average amount saved each year on insurance for a company car is 27% or $419.
How to find cheaper auto insurance for a company car
The list below summarizes a few penny-pinching ideas that can help drivers buy cheap car insurance.
- Serious violations like DUI or reckless driving can increase rates dramatically
- Pay cheaper rates with good credit scores
- Don’t waste money on full coverage for older vehicles
- Buy vehicles with good safety ratings
- Avoid having at-fault accidents
- Higher comprehensive and collision coverage deductibles will save money
- Compare rates once a year for cheaper prices
The last tip in the list is certainly critical, as we noted in the prior article. Car insurance prices can be modified anytime, so drivers shouldn’t be reluctant to buy a different policy if a more affordable rate is found. We understand brand loyalty, but is isn’t recommended if that faithfulness ends up costing you a lot of money. In just a couple of minutes you could compare prices to find cheaper auto insurance for a company car in Indianapolis.
The agents listed below are willing to answer your questions and help you decide which car insurance policy is best, as some people prefer to get some professional advice when trying to find lower insurance rates for your employer’s vehicle. It can be hard to find coverage yourself, and insurance agents can provide comfort knowing your policy gives you decent coverage if you have a claim.
To find an Indianapolis insurance agent near you, click the link at the bottom or click here to compare price quotes now.
- McGowan Insurance Group, Inc.
355 Indiana Ave – Indianapolis, IN 46204 – (317) 464-5000 - Nationwide Insurance: Brelage Insurance Agency Inc
5451 Emerson Way – Indianapolis, IN 46226 – (317) 591-2660 - Allstate Insurance: Jorge Herrera
2346 S Lynhurst Dr Ste 304 – Indianapolis, IN 46241 – (317) 246-7203