Indiana had 4,467,848 licensed drivers on the road in 2015, the most recent year with available data. Indiana requires that drivers have car insurance in order to legally drive on its roads. Many Hoosiers are looking for cheap car insurance because it is an expensive expense.
Currently, Indiana drivers pay around $367 a year for minimum coverage and $1,254 for full coverage, which is well below the national average annual cost of insurance. The national average rate for minimum coverage is $565 and full coverage is $1,674. Although Hoosiers already pay less than the national average for auto insurance, knowing which carriers tend to offer the cheapest auto insurance in Indiana could help you to save even more.
Indiana has the cheapest car insurance
There are many options for Indiana drivers when it comes finding the best car insurance. Quadrant Information Services was used by Bankrate to get current 2021 premiums from Indiana insurers. Then, we identified the providers that offered the best coverage and had high customer satisfaction ratings.
USAA offers the lowest average minimum and full coverage premiums for Indiana. However, it currently serves only active and retired military personnel as well as their immediate families. USAA may be an option for you if you are eligible for coverage. J.D. has not officially ranked USAA. Power due to its eligibility restrictions, USAA did receive the highest number of points in the 2021 U.S. Auto Insurance Study for the North Central region, which includes Indiana.
USAA offers policyholders discounts that can help them save even more. A loyal customer, driving safely, or owning a new car may all qualify for discounts. USAA, a member-based association, offers benefits other than insurance coverage. You can join USAA to gain access insurance products, financial advice, and banking services.
State Farm is the largest insurer of private passenger vehicles in the United States with just over 16% of the market share. However, State Farm’s auto insurance policy is relatively basic, with only a few options for customization, like ridesharing coverage and car rental insurance.
State Farm’s average premium for full coverage is the second-lowest on our list. State Farm also offers a wide range of discounts that can help you save more. Two safe driver programs, Drive Safe & Save (for adults) and Steer Clear (for teens), are among the most valuable.
Erie was ranked high in the 2021 J.D. Power U.S. Auto Insurance Study and claims that it retains more than 90% of its customers each year. It offers a variety of unique features, such as pet coverage and coverage for personal items.
One of Erie’s most appealing features is the Erie Rate Lock option. This feature maintains your premium at the same level as before. You won’t be charged for an accidental damage or your premium will not increase year after year. If you make changes to your policy such as adding or removing a driver or car, the cost of your auto insurance won’t change.
Through a network independent agents, Auto-Owners provides insurance products in 26 states including Indiana. You can find an independent agency by using the “Find an Agent” tool on the company website.
Auto-Owners is a great option for auto insurance if you own a classic car or an older vehicle. There are many discounts available, including multi-policy, paid-in-full and advanced quotes. This could help you save money on your auto insurance.
Geico isn’t the lowest-priced provider on our list but they offer the largest range of discounts. There are some ways you can save money: Be a federal employee or a military member, use your seatbelt, and be a safe driver.
Geico is a great option if you prefer to manage your policy online or via an app. Geico offers a user-friendly customer service portal. Customers can use the mobile app to make claims, pay bills and print ID cards. They can also call for roadside assistance.
Indiana drivers must have minimum coverage
Indiana drivers are required to carry at least the state-required minimum liability limits to drive legally. Indiana’s minimum liability coverage is 25/50/25. Your provider will provide coverage up to:
- $25,000 per person to cover bodily injury/death
- $50,000 per accident for bodily injuries/death
- $25,000 per accident to cover property damage
Every policy must include at least the following underinsured/uninsured motorist coverage unless you reject the coverage in writing:
- $25,000 per person, $50,000 per accident uninsured motorist bodily Injury
- $25,000 per accident for property damage to uninsured motorists
- $50,000 per person, $50,000 per accident underinsured motorist bodily Injury
While choosing minimum coverage may result in a lower premium, insurance experts recommend higher liability limits and full coverage if possible. Minimum liability limits may not be enough to pay for all damages if you are involved in an accident. You could end up with large out-of-pocket costs. You will need comprehensive and collision coverage to get minimum coverage. Your lender may require that you have auto insurance with full coverage if you have a loan, lease, or other financial obligation.
How to Get Cheap Auto Insurance in Indiana
It is often beneficial to get quotes from multiple companies when you’re looking for Indiana’s lowest-priced insurance. Every company uses a series of factors to calculate how much you will pay for a policy with them. These factors include driving record, marital status, and car type. Each company will weigh the importance of each factor in a different way.
It is possible that your marital status might be less important to one company than it would be with another. It is important to compare quotes and shop around.
It is a great way of determining if a company fits your needs. Different discounts are offered by different companies. You may be able lower your premium if you find a company offering multiple discounts. While discounts are usually available online, you can also contact an agent to find out which discounts may be available for your policy.
There are many ways to save, aside from choosing the right company and discount. You can increase your deductible if you decide to buy comprehensive or collision insurance. If you file a claim, your deductible is the amount that you will have to pay out of pocket. The deductible you pay will affect how much your premium. It is important to get your agent to change this before you do so. This can sometimes save you a lot of money. If you have to file a claim, make sure you choose the deductible you can afford. Increasing your credit score, keeping your driving record clean and driving a cheap car may also help to keep your premium low.
Questions frequently asked
Which insurance policy is best for Indiana drivers?
Insurance is a personal decision and each customer will have a different experience. To find the best car insurance in Indiana for your needs, compare quotes and coverage options from multiple insurers, a tried and tested way of getting good deals on auto insurance. You can also find the best insurance providers by looking at third-party ratings and customer reviews.
Is it common for car accidents in Indiana?
In 2019, there were 217,387 car crashes in Indiana, with the highest numbers occurring in Marion, Lake and Allen counties. These areas are all large metropolitan areas so it is not surprising that there is a high number of cars on the roads. In the same year, 800 people died in motor vehicle accidents, while 46,310 were left with non-fatal injuries.
What coverage do I need to purchase for uninsured motorists in Indiana?
Indiana drivers are not required to have uninsured motorist coverage. However, you must be offered this coverage when you request a quote, and you must reject it in writing if you choose not to purchase it. This coverage is recommended by most insurance professionals to provide financial protection in case you are struck by someone without insurance.