Determining which companies quote the best auto insurance rates with multiple speeding tickets will involve more work than just quoting one company’s rates. Every insurance provider has a proprietary formula to set policy rates, so we need to take a look at the auto insurance companies that tend to have lower prices in Indiana.
It’s important to know that Indianapolis auto insurance rates are impacted by many things which can substantially change the price you have to pay for coverage. Simply having a birthday, buying a different vehicle, or getting a ticket for careless driving can trigger changes in premium that may make certain companies cheaper than before.
Best Auto Insurance Prices with License Points
|Rank||Company||Cost Per Year|
|6||Indiana Farmers Mutual||$841|
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Travelers offers some of the cheapest car insurance rates in Indianapolis at around $614 each year. Cincinnati Insurance, USAA, Erie, and Western Reserve would also be considered some of the more affordable Indianapolis, IN auto insurance companies.
As the rates illustrate above, if you are a customer of Erie and switched to Cincinnati Insurance, you could see a yearly price reduction of about $48. Drivers with Western Reserve may save as much as $160 a year, and Indiana Farmers Mutual insureds might lower prices by $163 a year.
Remember that these policy rates are averages for all types of insureds and vehicles and and are not figured with a specific zip code with multiple speeding tickets. So the car insurance company that fits you best may not even be in the list above. That helps illustrate why you need to compare prices as often as possible using your own individual information.
The car, truck, or SUV that is being insured is a significant factor that determines whether or not you can buy the lowest-priced car insurance with multiple speeding tickets. Vehicles with limited top-end speed, advanced safety features, or low incidents of liability claims will cost much less to insure than higher performance models. The data below ranks auto insurance rates for a selection of the cheapest vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$1,523|
|Honda Accord LX-P 4-Dr Sedan||$1,625|
|Ford F-150 XL Crew Cab 2WD||$1,664|
|Ford Explorer XLT 2WD||$1,671|
|Ford Escape XLT 4WD||$1,666|
|Volkswagen Jetta S 2.5 Station Wagon||$1,731|
|Dodge Grand Caravan Hero||$1,763|
|Chevrolet Malibu LT||$1,795|
|Hyundai Elantra Blue 4-Dr Sedan||$1,825|
|Ford Edge SE AWD||$1,846|
|GMC Sierra SLE Regular Cab 2WD||$1,883|
|Toyota RAV4 2WD||$1,889|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$1,903|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,922|
|Jeep Grand Cherokee Laredo 2WD||$1,924|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,959|
|Honda Civic LX-S 4-Dr Sedan||$1,979|
|GMC Sierra 2500HD SLT Extended Cab 4WD||$1,991|
|Kia Optima LX||$2,014|
|Toyota Tacoma X-Runner 2WD||$2,021|
|Honda Odyssey EX-L W/Navigation||$2,031|
|Toyota Camry SE||$2,021|
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Premium data assumes single male driver age 30, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, and claim-free. Rate quotes do not factor in zip code location which can impact premium rates noticeably.
Looking at the numbers, cars like the Honda CR-V, Honda Accord, Ford F-150, and Ford Explorer are going to be some of the most economical vehicles to insure after a few driving violations.
Rate comparison of full coverage and liability-only
Paying less for auto insurance should be important to the majority of drivers, and one of the easiest ways to buy cheaper insurance with multiple speeding tickets is to not buy comprehensive and collision coverage. The illustration below shows the comparison of auto insurance costs when comparing full coverage to liability only. Data assumes no accidents or driving violations, $1,000 deductibles, single status, and no discounts are factored in.
Averaged for all ages 20 through 70, physical damage coverage costs $1,184 per year more than carrying just liability coverage. That touches on the question if buying full coverage is worth the expense. There is no exact formula for excluding comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.
There are a few situations where dropping full coverage is not recommended. If you haven’t paid off your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage in place.
The illustration below illustrates how your deductible choice can affect insurance prices when searching for cheap insurance with multiple speeding tickets. The premiums assume a single female driver, full physical damage coverage, and no policy discounts are applied.
The chart above illustrates that a 40-year-old driver could lower their policy premium by $222 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $334 by using a $1,000 deductible. Younger drivers, like the 20-year-old, could reduce their rates up to $566 or more by choosing a higher deductible.
When raising deductibles, it is important to have plenty of money set aside to enable you to pay the extra out-of-pocket expense that is associated with using high deductibles.
Poor driving habits will raise your auto insurance rates
The common sense way to score low auto insurance premiums in Indianapolis after a few driving violations is to drive attentively and avoid traffic citations and accidents. The illustration below illustrates how speeding tickets and at-fault accidents can increase premium costs for each different age group. Data assumes a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,241. Factor in one speeding ticket and the average cost rises to $1,424, an increase of $183 each year. Now include two accidents along with the one speeding ticket and the annual cost of auto insurance with multiple speeding tickets increases to an average of $3,024. That’s an increase of $1,782, or $149 per month, just for not being more responsible behind the wheel!
How to find low-cost auto insurance with multiple speeding tickets
It’s not impossible to find cheaper rates, and here are some thrifty suggestions that can help you locate low-cost car insurance.
- Avoid accidents
- Do not insure for full coverage
- Violations like speeding or DUI increase rates
- Raise physical damage deductibles
- Good credit can help you save money
- Safe vehicles cost less to insure
- Check for cheaper rates once a year
The last suggestion is especially critical, as we discussed in this article. Rates change frequently, so don’t hesitate to switch to a new company if a more affordable price is available. Sticking with a specific company is fine, but it’s not a great idea if that devotion results in you overpaying hundreds every year. In just a couple of minutes you could shop around and find cheaper auto insurance with multiple speeding tickets in Indianapolis.
If you wish to have professional advice when shopping for cheaper insurance with multiple speeding tickets, the agencies below can answer your questions and help you decide which coverages are best. To find an Indianapolis insurance agent in your neighborhood, click the button following the list or click here to get price quotes now.
Bob Mercer – State Farm Insurance Agent
6437 Rucker Rd b – Indianapolis, IN 46220 – (317) 253-4300
Skaggs Insurance Agencies Inc
5519 E 82nd St e – Indianapolis, IN 46250 – (317) 841-6000
Adam Krockenberger – State Farm Insurance Agent
5685 Lafayette Rd #700 – Indianapolis, IN 46254 – (317) 387-9182