Do you want to save money by buying more affordable Mitsubishi Lancer insurance in Indianapolis? Are you burned out from paying out the nose to buy car insurance? Your situation is no different than many other Indiana consumers.
It’s amazing but nearly 70% of drivers renewed their policy with the same company for over three years, and nearly 40% of drivers have never shopped around. Many consumers in Indiana can cut their rates by 55% a year, but they feel it’s too difficult to compare rates and save money.
Online insurance companies like State Farm, GEICO and Farmers Insurance all claim big savings with advertising and it is difficult to separate fact from fiction and do the work needed to find the best deal.
Consumers should take time to check car insurance prices yearly because rates trend upward over time. Just because you found the best deal on Mitsubishi Lancer insurance in Indianapolis at your last renewal other companies may now be cheaper. Forget all the misinformation about car insurance because you’re going to get a crash course in how to use the internet to remove unneeded coverages and save money.
Cheapest companies for Mitsubishi Lancer insurance
The auto insurance companies shown below offer comparison quotes in Indianapolis, IN. If several companies are displayed, we suggest you click on several of them in order to get a fair rate comparison.
Rates and information analytics
The data table below covers estimates of insurance premium costs for Mitsubishi Lancer models. Having a good grasp of how policy rates are figured can aid in making smart choices when comparing insurance quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $196 | $400 | $340 | $20 | $102 | $1,058 | $88 |
| Lancer ES | $196 | $400 | $340 | $20 | $102 | $1,058 | $88 |
| Lancer GTS | $218 | $460 | $340 | $20 | $102 | $1,140 | $95 |
| Lancer Sportback GTS | $218 | $460 | $340 | $20 | $102 | $1,140 | $95 |
| Lancer RALLIART | $240 | $520 | $340 | $20 | $102 | $1,222 | $102 |
| Lancer Sportback Ralliart | $240 | $520 | $340 | $20 | $102 | $1,222 | $102 |
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Information does not factor in specific location which can revise prices greatly.
How Your Lancer Insurance Prices are Determined
When buying car insurance it’s important to understand the different types of things that go into determining your car insurance rates. If you have a feel for what controls the rates you pay, this enables you to make decisions that could result in big savings.
- Car insurance liability protection limits – The liability coverage on your policy will afford coverage when you are ruled to be at fault for personal injury or accident damage. Your policy’s liability insurance provides legal defense coverage up to the limits shown on your policy. This coverage is very inexpensive compared to physical damage coverage, so drivers should make sure they buy enough to cover all assets.
- Small coverages can add up – Insurance policies have a lot of extra coverages that sound like a good idea at the time but may not be useful. Things like coverage for rental cars, death and dismemberment, and additional equipment coverage are probably not needed. You may think they are a good idea when you first buy your policy, but if you have no use for them remove them and pocket the money.
- Lower stress equals lower premiums – Jobs such as military generals, business owners, and medical professionals generally pay higher rates than the rest of us due to intense work requirements and incredibly demanding work hours. On the other hand, occupations such as farmers, athletes and performers generally pay rates lower than average.
- Single drivers take more risk – Having a significant other actually saves money on your car insurance policy. It demonstrates that you tend to be more mature than a single person and insurance companies like that being married results in fewer claims.
- More policies can equal more savings – The majority of insurers provide better rates to clients who carry more than one policy in the form of a multi-policy discount. Even with this discount, consumers should still comparison shop to help ensure you have the lowest rates.There is a good possibility that you can save even more than the discount even if you insure with multiple companies
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Insurance losses for a Mitsubishi Lancer – Insurance companies factor in historical loss data to calculate a rate that will offset any claims. Models that the statistics show to have higher number or severity of losses will have a higher premium rate. The next table shows the loss history for Mitsubishi Lancer vehicles.
For each type of coverage, the claim probability for all vehicles, as a total average, is equal to 100. Numbers that are below 100 suggest losses that are better than average, while numbers shown that are more than 100 indicate more frequent losses or statistically larger claims.
Mitsubishi Lancer Insurance Loss Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mitsubishi Lancer 2WD 153 146 127 192 218 172 Mitsubishi Lancer 4WD 149 131 148 135 Mitsubishi Lancer Evolution 4WD 225 123 221 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Determine discounts on Indianapolis auto insurance
Companies offering auto insurance don’t necessarily list the entire discount list very well, so the list below gives a summary of a few of the more common and the more hidden discounts that you can inquire about if you buy Indianapolis auto insurance online.
- Accident Forgiveness – Not really a discount, but companies like Progressive, Allstate, and GEICO may permit one accident before they charge you more for coverage so long as you are claim-free before the accident.
- Service Members Pay Less – Having a family member in the military could be rewarded with lower rates.
- Policy Bundle Discount – If you have multiple policies with one insurance company you may save up to 20% off your total Lancer insurance premium.
- College Student – Older children who are enrolled in higher education away from home and won’t have access to an insured vehicle may be insured at a cheaper rate.
- E-sign Discounts – A handful of larger companies will provide an incentive for completing your application on the web.
A little note about advertised discounts, most discount credits are not given to the entire cost. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Despite the fact that it seems like having all the discounts means you get insurance for free, it just doesn’t work that way.
The diagram below illustrates the difference between Mitsubishi Lancer auto insurance costs with and without policy discounts. The costs are based on a female driver, a clean driving record, no at-fault accidents, Indiana state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, homeowner, multi-policy, and claim-free discounts applied.
A list of companies and the discounts they provide can be found below.
- State Farm has discounts for anti-theft, accident-free, multiple autos, multiple policy, safe vehicle, and driver’s education.
- GEICO policyholders can earn discounts including military active duty, five-year accident-free, air bags, good student, multi-policy, and defensive driver.
- Progressive includes discounts for good student, online signing, multi-vehicle, online quote discount, multi-policy, continuous coverage, and homeowner.
- 21st Century discounts include automatic seat belts, student driver, homeowners, driver training, defensive driver, good student, and early bird.
- American Family has savings for mySafetyValet, Steer into Savings, TimeAway discount, bundled insurance, air bags, multi-vehicle, and defensive driver.
- The Hartford offers premium reductions for air bag, defensive driver, bundle, driver training, anti-theft, vehicle fuel type, and good student.
- AAA offers discounts for good student, education and occupation, multi-policy, good driver, and AAA membership discount.
Check with each company or agent which discounts they offer. Some credits may not apply to policies in Indianapolis. To view companies with discount auto insurance rates in Indiana, click here.
When to talk to an insurance agent
Some people still like to go talk to an agent and there is nothing wrong with that. An additional benefit of getting free rate quotes online is that you can obtain cheap car insurance rates but still work with a licensed agent. Supporting local agencies is important especially in Indianapolis.
To make it easy to find an agent, after completing this form (opens in new window), your information is immediately sent to agents in your area that give free quotes for your car insurance coverage. You don’t have to visit any agencies since rate quotes are delivered straight to your inbox. You can most likely find cheaper rates without having to waste a lot of time. If you want to compare prices from one company in particular, just jump over to their website and complete a quote there.
Finding a good insurer requires more thought than just the price. Ask your prospective agent these questions:
- Are there any hidden costs in their price quote and does it include driving and credit history?
- When do they do a full risk review?
- How much can you save by raising your physical damage deductibles?
- Will one accident increase rates?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Is the coverage adequate for your vehicle?
- In the event of vehicle damage, can you pick the collision repair facility?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
One last note
As you prepare to switch companies, it’s not a good idea to skimp on critical coverages to save a buck or two. There are many occasions where drivers have reduced physical damage coverage only to regret at claim time that the small savings ended up costing them much more. The ultimate goal is to purchase plenty of coverage at the lowest possible cost and still be able to protect your assets.
In this article, we presented a lot of tips how to lower your Mitsubishi Lancer insurance rates in Indianapolis. It’s most important to understand that the more rate quotes you have, the better chance you’ll have of finding inexpensive Indianapolis auto insurance quotes. Drivers may even discover the lowest priced car insurance comes from a small mutual company. These companies may often insure only within specific states and give better rates than the large multi-state companies such as GEICO and State Farm.
Steps to buying discount Mitsubishi Lancer insurance in Indianapolis
The best way to find affordable Mitsubishi Lancer insurance in Indianapolis is to compare prices regularly from insurers who provide auto insurance in Indiana. You can compare rates by following these steps.
- Step 1: Try to comprehend how your policy works and the modifications you can make to prevent rate increases. Many risk factors that are responsible for high rates like traffic violations, accidents, and a not-so-good credit rating can be improved by being financially responsible and driving safely.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from one company like GEICO and State Farm, while agents who are independent can provide price quotes from multiple companies.
- Step 3: Compare the new rate quotes to your current policy and determine if cheaper Lancer coverage is available in Indianapolis. If you can save money and switch companies, verify that coverage does not lapse between policies.
The critical component of shopping around is that you use identical limits and deductibles on each price quote and and to get prices from as many car insurance companies as possible. Doing this enables a level playing field and plenty of rates choose from.
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