Who Has Cheap Indianapolis Auto Insurance for a Company Car?

Determining which companies have the lowest-priced insurance rates for a company car will involve a little more effort in order to find the lowest price quote. Each auto insurance company used slightly different criteria to set premium rates, so we’ll go over the insurance companies that tend to be cheaper in Indiana.

Best Cheap Insurance Rates in Indiana

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Rankings for the cheapest car insurance companies in Indiana
Rank Company Cost Per Year
1 Travelers $620
2 Cincinnati Insurance $664
3 USAA $667
4 Erie $712
5 Western Reserve $864
6 Indiana Farmers Mutual $867
7 The Hartford $881
8 Auto-Owners $906
9 Utica National $956
10 Motorists Mutual $956
11 State Farm $957
12 Nationwide $968
13 Safeco $973
14 Hastings Mutual $1,003
15 Farmers $1,053
16 Wolverine Mutual $1,072
17 GEICO $1,089
18 Westfield $1,094
19 Progressive $1,095
20 State Auto $1,098
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Travelers may have some of the most affordable car insurance rates in Indianapolis at around $620 annually. This is $620 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve also are some of the lowest-priced Indianapolis, IN auto insurance companies.

As shown above, if you are a customer of Western Reserve and switched to Cincinnati Insurance, you could realize a yearly price reduction of in the neighborhood of $200. Customers with Indiana Farmers Mutual may save as much as $203 a year, and The Hartford customers might cut rates by $217 a year.

To find out how much you can save, click here or click several companies below for low rates.

Bear in mind that those rates are averages for all drivers and vehicles in Indiana and and are not figured with a specific location for a company car. So the company that is most affordable for your situation may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

One of the many considerations that determine the amount you pay for auto insurance is where you call home in Indianapolis. Cities with larger populations or higher claim trends likely pay more, whereas less populated areas benefit from lower coverage costs.

The following table rates the most costly cities in Indiana for a company car to purchase auto insurance in. Indianapolis comes in at #5 with a yearly premium of $1,092 for the average policy, which is approximately $91 monthly.

How much does car insurance cost in Indianapolis, IN?
Rank City Annual Rate
1 Gary $1,347
2 Hammond $1,327
3 Merrillville $1,095
4 Portage $1,093
5 Indianapolis $1,092
6 Evansville $1,077
7 Lawrence $1,066
8 Jeffersonville $1,038
9 Terre Haute $1,035
10 New Albany $1,028
11 Anderson $1,011
12 Kokomo $1,011
13 South Bend $985
14 Fort Wayne $976
15 Fishers $974
16 Bloomington $968
17 Elkhart $965
18 Noblesville $958
19 Carmel $957
20 Columbus $955
21 Muncie $955
22 Mishawaka $945
23 Richmond $935
24 Greenwood $931
25 Lafayette $899
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Information shown are estimated as the garaging address in Indianapolis can revise coverage rates substantially.

The vehicle that is being insured is a large consideration when quoting cheap coverage for a company car. Vehicles with lower acceleration and performance, an excellent safety record, or a track record of few liability claims will cost much less to insure than fast, unsafe models.

The table below presents car insurance prices for a number of the most economical automobiles to insure in Indiana.

Cheapest Vehicles to Insure in Indianapolis, IN
Vehicle Estimated Cost for Full Coverage
Ford Escape XLT 4WD $1,172
Volkswagen Jetta S 2.5 Station Wagon $1,242
Toyota Prius $1,269
Honda CR-V EX 4WD $1,342
Hyundai Elantra SE Touring Station Wagon $1,422
Hyundai Sonata GLS 4-Dr Sedan $1,454
Ford Fusion SEL 4-Dr Sedan $1,456
Dodge Ram Crew Cab TRX 2WD $1,481
Ford F-150 XLT Super Cab 4WD $1,505
Honda Accord EX 2-Dr Coupe $1,525
Ford Edge SE AWD $1,527
Chevrolet Silverado LTZ Crew Cab 2WD $1,551
Toyota Camry Hybrid $1,560
Toyota RAV4 2WD $1,556
Dodge Grand Caravan CV $1,576
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Premium amounts do not factor in vehicle garaging location which can raise or lower price quotes substantially.

Based upon the table data, you can figure that vehicles like the Ford Escape, Volkswagen Jetta, Toyota Prius, Honda CR-V, and Hyundai Elantra will be a few of the cheapest vehicles to insure for your employer’s vehicle.

Ending up with the best insurer is difficult considering how many choices drivers have in Indianapolis. The ranking data listed below may help you select which companies to look at comparing rates from.

The ratings below are only comprised of companies that insure vehicles nationwide, so companies without a large exposure are not included in the list. To compare price quotes from these and other top-rated companies, just click here.

Best Insurance Companies for a Company Car in Indianapolis
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
Esurance 84 88 85 83% A+ 86
Farmers Insurance 79 88 84 87% A 84.7
The General 88 80 85 80% A- 84.5
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Data Source: Insure.com Best Car Insurance Companies

Rate increases following a ticket or accident

The best way to maintain cheap insurance premiums in Indianapolis for your employer’s vehicle is to drive safe and have a clean driving record. The information below highlights how traffic violations and accident claims increase annual premium costs for different age categories. The data is based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied.

In the previous chart, the average cost of car insurance in Indiana per year with no accidents or violations is $1,840. Add in one speeding ticket and the average cost rises to $2,113, an increase of $272 each year. Now add in one accident along with the one speeding ticket and the yearly cost of insurance for a company car goes up to an average of $2,894. That’s an increase of $1,054, or $88 per month, just for not keeping your driving record clean!

Get discounts on Indianapolis insurance

Discounts on insurance for a company carAuto insurance companies that sell policies for a company car may provide rate discounts that can reduce rates by as much as 35% or more if you can meet the requirements. A few of the larger companies and some of their more popular discounts are outlined below.

The diagram below illustrates the comparison of insurance costs with and without discounts being applied to the rates. The prices are based on a female driver, no accidents or driving violations, Indiana state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with anti-theft, safe-driver, claim-free, marriage, accident-free, and multiple vehicle discounts applied. In this example, the average amount saved each year on insurance for a company car is 27% or $419.

How to find cheaper auto insurance for a company car

The list below summarizes a few penny-pinching ideas that can help drivers buy cheap car insurance.

The last tip in the list is certainly critical, as we noted in the prior article. Car insurance prices can be modified anytime, so drivers shouldn’t be reluctant to buy a different policy if a more affordable rate is found. We understand brand loyalty, but is isn’t recommended if that faithfulness ends up costing you a lot of money. In just a couple of minutes you could compare prices to find cheaper auto insurance for a company car in Indianapolis.

The agents listed below are willing to answer your questions and help you decide which car insurance policy is best, as some people prefer to get some professional advice when trying to find lower insurance rates for your employer’s vehicle. It can be hard to find coverage yourself, and insurance agents can provide comfort knowing your policy gives you decent coverage if you have a claim.

To find an Indianapolis insurance agent near you, click the link at the bottom or click here to compare price quotes now.

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