What Insurance is Cheapest for High School Students in Indianapolis?

The car, truck, or SUV requiring coverage is a significant factor that determines whether or not you find the best cheap coverage for high school students. Vehicles with economical engines, excellent safety ratings, or low incidents of liability claims will cost much less to insure than high performance models.

The next table estimates insurance rates for the most affordable vehicles to insure in Indiana.

Cheapest Vehicles to Insure in Indianapolis, IN
Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $4,158
Ford Escape XLS 2WD $4,166
Honda CR-V EX-L 4WD $4,206
Honda Accord EX-L 4-Dr Sedan $4,482
Toyota Prius $4,530
Ford Edge Limited 2WD $4,887
Ford Focus S 4-Dr Sedan $4,895
Honda Odyssey EX W/Rear Entertainment $4,887
Chevrolet Impala LS $4,896
Volkswagen Jetta LE 4-Dr Sedan $4,935
Toyota Camry LE $4,940
Chevrolet Equinox LS 2WD $4,935
Toyota RAV4 2WD $4,943
Nissan Altima 2.5 4-Dr Sedan $4,935
Ford F-150 Lariat Super Cab 2WD $4,982
Dodge Grand Caravan Crew $4,992
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $4,982
Ford Explorer Eddie Bauer 4WD $4,992
Toyota Corolla S $5,213
Honda Civic Hybrid 4-Dr Sedan $5,261
Chevrolet Malibu LTZ $5,271
GMC Sierra 2500HD SLE Crew Cab 4WD $5,261
Jeep Grand Cherokee Limited 4WD $5,269
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Data based on single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in vehicle garaging location which can change price quotes greatly.

Looking at the numbers, you can figure that models like the Hyundai Elantra, Ford Escape, Honda CR-V, and Honda Accord are some of the cheapest vehicles to insure for teenagers. Car insurance rates will be more costly just due to the fact that there is more exposure for high school students, but in general those models will most likely have the lowest insurance rates available.

For teenagers, one of the largest considerations that are used to help calculate the price you pay for insurance is where you keep your vehicle in Indianapolis. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas areas that tend to be more rural have the benefit of cheaper auto insurance prices.

The next table rates the priciest cities in Indiana for high school students to buy an auto insurance policy in. Indianapolis is ranked #9 with an annual premium of $1,060 for the average insured, which is approximately $88 each month.

Car insurance prices in Indianapolis
Rank City Average Per Year
1 Gary $1,347
2 Hammond $1,275
3 Portage $1,104
4 Lawrence $1,099
5 Merrillville $1,095
6 Evansville $1,087
7 Terre Haute $1,077
8 Jeffersonville $1,070
9 Indianapolis $1,060
10 New Albany $1,059
11 Kokomo $1,031
12 Anderson $1,011
13 Elkhart $995
14 South Bend $976
15 Richmond $964
16 Bloomington $958
17 Carmel $957
18 Fort Wayne $956
19 Columbus $955
20 Fishers $954
21 Mishawaka $945
22 Greenwood $931
23 Muncie $927
24 Noblesville $920
25 Lafayette $917
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Annual rates are approximated as specific Indianapolis zip code can increase or decrease prices noticeably.

Finding dependable, low-cost insurance is easier said than done, and figuring out which insurers offer the lowest-priced car insurance rates for high school students will require even more work. Every insurance provider has their own formula to establish rates, so first let’s look at the rankings for the most affordable car insurance companies in Indianapolis, IN.

It’s important to understand that Indiana car insurance rates are impacted by many things that control the price you pay for coverage. Events like turning one year older, buying a safer car, or getting a couple of tickets can trigger rate changes that may make certain companies higher-priced than the competition.

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Rankings for the cheapest Indiana auto insurance companies
Rank Company Cost Per Year
1 Travelers $620
2 Cincinnati Insurance $664
3 USAA $681
4 Erie $712
5 Western Reserve $846
6 The Hartford $863
7 Indiana Farmers Mutual $867
8 Auto-Owners $888
9 Nationwide $940
10 State Farm $957
11 Safeco $983
12 Utica National $985
13 Motorists Mutual $996
14 Hastings Mutual $1,013
15 Farmers $1,022
16 Westfield $1,072
17 Wolverine Mutual $1,072
18 GEICO $1,089
19 Progressive $1,128
20 State Auto $1,131
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Travelers offers some of the most affordable car insurance rates in Indianapolis at around $620 a year. This is $620 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are also some of the more affordable Indianapolis, IN car insurance companies.

As the rates illustrate above, if you buy coverage from Western Reserve and switched to Cincinnati Insurance, you could see a yearly savings of around $182. Insureds with The Hartford might save as much as $199 a year, and Indiana Farmers Mutual policyholders might reduce prices by as much as $203 a year.

To see if your current coverage is too expensive, click here to get a free quote or feel free to get quotes from the companies below.

Bear in mind that those premiums are averages across all drivers and vehicles in Indiana and and are not figured with a specific zip code for high school students. So the insurer that is best suited for you may not even be in the list above. That point stresses why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

The information below illustrates how your deductible choice can change insurance premiums when searching for cheap insurance for high school students. The costs are based on a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

As shown above, a 30-year-old driver could lower rates by $306 a year by switching from a $100 deductible to a $500 deductible, or save $460 by using a $1,000 deductible. Young drivers, like the 20-year-old example, could lower their rates up to $678 or more just by choosing higher deductibles when buying full coverage.

If you make the decision to raise deductibles, it is necessary to have enough funds in savings to allow you to pay the extra out-of-pocket expense that is associated with using high deductibles.

Liability rates compared to full coverage

Saving on car insurance is the goal of most drivers, and a great way to buy cheap insurance for high school students is to only pay for liability coverage. The example below illustrates the comparison of car insurance costs when comparing full coverage to liability only. The data assumes no driving violations, no at-fault accidents, $500 deductibles, single marital status, and no policy discounts are applied.

If averaged for all ages, comprehensive and collision coverage on your policy costs $1,771 per year over and above liability coverage. Many of you may wonder if you should buy full coverage at all. There is no set rule to stop buying physical damage insurance, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then it might be time to buy liability only.

There are a few situations where removing full coverage is not financially feasible. If you haven’t satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Careless Indianapolis drivers pay higher rates

The recommended way to get the cheapest car insurance prices in Indianapolis for teenagers is to drive cautiously and avoid tickets and accidents. The illustration below demonstrates how traffic citations and at-fault accidents influence car insurance costs for each different age group. The premiums are based on a married female driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.

The data in the chart shows the average cost of a car insurance policy in Indiana per year with no accidents or violations is $1,263. Receive two speeding tickets and the average cost increases to $1,797, an increase of $534 each year. Now include one accident along with the two speeding tickets and the annual cost of car insurance for high school students increases to an average of $2,330. That’s an increase of $1,067, or $89 per month, just for a couple of infractions!

The auto insurance agents in Indianapolis shown below can probably answer your questions and help you decide which insurance coverage you need, as lots of drivers aren’t clear which coverage they need and would like to have a little guidance when trying to find lower insurance rates for high school students. It can be challenging to find the cheapest rates, and insurance agents licensed in the state of Indiana can give you satisfaction knowing you have adequate coverage when you need it most.

To find an Indianapolis insurance agency nearest to you, click the button link following the list or click here to compare price quotes.

GEICO Insurance Agent
3837 N High School Rd Suite 10Indianapolis, IN 46254(317) 216-0932

State Farm: Rahvy Murray
3955 Eagle Creek Pkwy EIndianapolis, IN 46254(317) 297-3804

Burns Insurance Agency – Commercial, Personal and Transportation Insurance Specialists
1433 N Meridian StIndianapolis, IN 46202(317) 377-1100

Gregory and Appel Insurance
1402 N Capitol Ave #400Indianapolis, IN 46202(317) 634-7491

Dalessandro Agency Inc.
4255 Lafayette RdIndianapolis, IN 46254(317) 290-2055

View more Indianapolis, IN insurance agents

How to find low-cost car insurance for high school students

The list below summarizes a few thrifty solutions that can help Indiana drivers quote lower-cost coverage.

The last item on the list is particularly critical, as we pointed out in this write-up. Auto insurance rates vary greatly, so don’t hesitate to buy a policy from a new company if a more affordable price is available.

We understand brand loyalty, but we do not recommend it if it’s costing you money that could be going to better use. Now is a great time to shop around and find cheaper car insurance for high school students in Indianapolis.