Deciding which company quotes the lowest-priced auto insurance rates for drivers requiring a SR22 will take more work than just picking a company at random. Each auto insurer has a unique approach for determining rates, so let’s look at the rankings for the auto insurance companies with the overall cheapest rates in Indianapolis.
Find Cheaper Car Insurance for SR22 Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $596 |
| 2 | Cincinnati Insurance | $678 |
| 3 | USAA | $687 |
| 4 | Erie | $726 |
| 5 | Western Reserve | $838 |
| 6 | Indiana Farmers Mutual | $867 |
| 7 | The Hartford | $881 |
| 8 | Auto-Owners | $915 |
| 9 | Utica National | $956 |
| 10 | State Farm | $957 |
| 11 | Nationwide | $958 |
| 12 | Hastings Mutual | $973 |
| 13 | Safeco | $983 |
| 14 | Motorists Mutual | $996 |
| 15 | Farmers | $1,033 |
| 16 | Wolverine Mutual | $1,061 |
| 17 | Westfield | $1,094 |
| 18 | GEICO | $1,100 |
| 19 | State Auto | $1,120 |
| 20 | Progressive | $1,139 |
| Find Cheaper Rates Go | ||
Travelers has some of the cheapest car insurance rates in Indianapolis at around $596 each year. This is $644 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve also qualify as some of the more affordable Indianapolis, IN car insurance companies.
As the rates illustrate above, if you have coverage with Erie and switched to Cincinnati Insurance, you may realize an annual savings of roughly $48. Drivers with Western Reserve may save as much as $160 a year, and Indiana Farmers Mutual insureds might see rate reductions of $189 a year.
Be aware that those policy rates are averaged for all insureds and vehicles and and are not calculated with a specific location for drivers requiring a SR22. So the car insurance company that can offer the best rates for your situation may not even be in the list above. That points out the importance of why you need to compare rates from multiple companies using your own personal information and vehicle type.
The type of vehicle that needs insurance is a large consideration in finding the cheapest insurance for drivers requiring a SR22. Vehicles with lots of horsepower, a lack of advanced safety features, or a track record of large liability claims will cost substantially more to insure than safer, lower-performance models. The next table illustrates insurance prices for the cheapest vehicles to insure in Indiana.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $3,654 |
| Honda Accord LX-P 4-Dr Sedan | $3,764 |
| Ford Escape XLS 2WD | $3,803 |
| Volkswagen Jetta S 2.5 Station Wagon | $4,013 |
| Toyota Prius | $4,058 |
| Jeep Wrangler Sport 4WD 2-Dr | $4,063 |
| Dodge Grand Caravan SE | $4,253 |
| Ford Edge Limited 2WD | $4,282 |
| Ford F-150 STX Super Cab 4WD | $4,298 |
| Toyota RAV4 2WD | $4,323 |
| Toyota Camry LE | $4,330 |
| Chevrolet Malibu LS | $4,501 |
| Chevrolet Equinox LS AWD | $4,511 |
| Compare Cheap Rates Go | |
Data variables include single male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Rates do not factor in specific garaging location which can decrease or increase rates noticeably.
Based upon the table data, we can assume that makes and models like the Honda CR-V, Honda Accord, Ford Escape, Volkswagen Jetta, and Toyota Prius will be a few of the most budget-friendly vehicles to insure for high risk drivers. The price for car insurance will tend to be more expensive anyway because of the fact that there is more claim risk for drivers requiring a SR22, but generally speaking those models will probably have the lowest prices that you are likely to find.
For high risk drivers, one of the largest factors that aid in calculating the amount you pay for auto insurance is where your car is garaged. Areas with high crime rates or more dense population tend to have higher auto insurance costs, whereas more rural areas have the luxury of lower rates.
The information below lists the most expensive cities in Indiana for drivers requiring a SR22 in which to purchase auto insurance. Indianapolis shows up at #6 with an annual rate of $1,082 for the average insurance policy, which is approximately $90 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Gary | $1,360 |
| 2 | Hammond | $1,288 |
| 3 | Merrillville | $1,128 |
| 4 | Portage | $1,093 |
| 5 | Lawrence | $1,088 |
| 6 | Indianapolis | $1,082 |
| 7 | Evansville | $1,077 |
| 8 | Terre Haute | $1,067 |
| 9 | Jeffersonville | $1,048 |
| 10 | New Albany | $1,039 |
| 11 | Anderson | $1,011 |
| 12 | Kokomo | $1,011 |
| 13 | Fort Wayne | $985 |
| 14 | Columbus | $984 |
| 15 | South Bend | $976 |
| 16 | Fishers | $974 |
| 17 | Mishawaka | $974 |
| 18 | Elkhart | $965 |
| 19 | Bloomington | $958 |
| 20 | Carmel | $957 |
| 21 | Muncie | $955 |
| 22 | Richmond | $944 |
| 23 | Greenwood | $931 |
| 24 | Lafayette | $926 |
| 25 | Noblesville | $920 |
| Find Cheaper Rates Go | ||
Rate quotes are approximated as the garaging address in Indianapolis can affect prices substantially.
Picking a high-quality auto insurance provider is hard considering how many companies sell coverage in Indianapolis. The company information shown below can help you select which insurers you want to consider purchasing a policy from. These rankings are only made up of large nationwide companies, so companies that may only write in Indiana are not included in the 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 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Discount Indianapolis car insurance
Auto insurance companies that provide coverage for drivers requiring a SR22 may provide price discounts that may potentially lower prices by 35% or more if you are eligible to receive them. Companies and their possible discounts are:
- Farm Bureau discounts include 55 and retired, renewal discount, multi-vehicle, safe driver, good student, multi-policy, and driver training.
- Liberty Mutual may include discounts for safety features, newly married, new move discount, newly retired, multi-car, and preferred payment discount.
- State Farm has savings for safe vehicle, multiple policy, passive restraint, Drive Safe & Save, and good driver.
- Auto-Owners Insurance offers premium reductions for anti-lock brakes, good student, teen driver, multiple vehicles, mature driver, paid in full, and air bags.
- GEICO may have discounts that include federal employee, multi-policy, emergency military deployment, seat belt use, military active duty, and good student.
- SAFECO may offer discounts for anti-theft, accident prevention training, homeowner, bundle discounts, and teen safety rewards.
The diagram below illustrates the comparison of insurance costs with and without discounts applied to the premium. The rate quotes are based on a male driver, two citations and two at-fault accidents, Indiana state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with anti-theft, multiple policy, passive restraint, homeowner, marriage, and paid-in-full discounts applied. When taking advantage of discounts, the average savings per year on auto insurance for drivers requiring a SR22 is 29% or $1,540.
Rate increases following a ticket or accident
The easiest method to obtain cheap auto insurance rates in Indiana for high risk drivers is to pay attention while driving and avoid at-fault accidents and violations. The illustration below illustrates how violations and at-fault accidents can affect yearly insurance costs for different age groups. The premium estimates are based on a single female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.
In the previous example, the average cost of auto insurance in Indianapolis per year with no accidents and a clean driving record is $1,712. Get one speeding ticket and the average cost rises to $1,940, an increase of $229 each year. Then add two accidents along with the one speeding ticket and the yearly cost of auto insurance for drivers requiring a SR22 increases to an average of $3,990. That’s an increase of $2,278, or $190 per month, just for not driving carefully!
How to find more affordable auto insurance for drivers requiring a SR22
Lowering your rates is not difficult, and here are some thrifty solutions that can help Indiana drivers get low-cost coverage.
- Prevent price hikes by avoiding at-fault accidents
- Avoid getting tickets or violations
- The safer your car, the less it costs to insure
- Buying your home and auto policies from the same company can earn a discount
- Pay for small claims rather than turning them in to your insurance company
- Compare rate quotes often
That final tip is extraordinarily necessary, as we stressed in the article above. Insurance rates can change in a short period of time, so drivers shouldn’t be resistant to buy from a new company if a lower price can be found. Being loyal to a particular company is commendable, but it’s not a good idea if that inflexibility results in costing you a wad of cash every year. It only takes a couple minutes to compare prices and find cheaper car insurance for drivers requiring a SR22 in Indianapolis.
The agencies below can help you determine which auto insurance coverages would be the best in your situation, since many consumers aren’t sure which coverage to buy and prefer to have a little guidance when comparing insurance rates for high risk drivers. It can be hard to find the best policy on your own, and professional agents can provide satisfaction knowing you have sufficient protection if you have a claim. To find an agent in your neighborhood, click the button below the list or click here to compare price quotes.
Scott Nichols – State Farm Insurance Agent
7022 W 10th St b – Indianapolis, IN 46214 – (317) 243-3509
Burns Insurance Agency – Commercial, Personal and Transportation Insurance Specialists
1433 N Meridian St – Indianapolis, IN 46202 – (317) 377-1100
Jim Crinklaw – State Farm Insurance Agent
9423 Pendleton Pike – Indianapolis, IN 46236 – (317) 897-6129
Allstate Insurance: Donald Oldham
303 N Alabama St #360 – Indianapolis, IN 46204 – (317) 687-0777