It’s hard to miss the captivating ads from insurers like State Farm and Farmers that say if you switch you’ll get big savings. So you should just choose any of them, right?
It’s not that simple, unfortunately, as there are many unknown elements like if you own or rent your home, your annual mileage driven, if you are married or single, and the deductible level you need, that all impact the cost of coverage. The content below will cover these factors and others that can influence the price of auto insurance and will give you a good start in finding the cheapest insurance in Indiana.
The vehicle model needing coverage is a large factor when comparison shopping for affordable coverage for drivers with good credit. Vehicles with average performance, an excellent safety record, or a low likelihood of liability claims will cost quite a bit less to insure than high performance models.
The data below shows insurance rates for a handful of the cheapest vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,047|
|Honda CR-V LX 2WD||$1,055|
|Ford Escape XLS 2WD||$1,047|
|Ford Explorer XLT 4WD||$1,174|
|Ford F-150 XL Crew Cab 4WD||$1,197|
|Ford Focus SE 4-Dr Sedan||$1,218|
|Dodge Grand Caravan Hero||$1,241|
|Chevrolet Equinox LT AWD||$1,247|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,255|
|Ford Edge Sport AWD||$1,308|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,331|
|Chevrolet Impala LS||$1,333|
|Honda Odyssey EX W/Rear Entertainment||$1,342|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,354|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,356|
|Chevrolet Malibu Hybrid||$1,359|
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Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Table data does not factor in zip code location which can alter coverage prices considerably.
Looking at the rates, models like the Hyundai Elantra, Honda CR-V, Ford Escape, and Ford Explorer should be the less-costly vehicles to insure for financially responsible drivers.
Figuring out which insurers offer the cheapest auto insurance rates for drivers with good credit will involve a tad more effort in order to find the best price. Each auto insurer has a unique formula to set policy rates, so we’ll go over the most budget-friendly auto insurance companies in Indianapolis.
It’s important to understand that Indianapolis auto insurance rates are determined by lots of factors that will increase or decrease the cost of your policy. Getting older, buying a new vehicle, or getting a DUI can trigger price changes resulting in some rates now being more affordable than others.
Find Cheaper Car Insurance for High Credit
|Rank||Company||Cost Per Year|
|7||Indiana Farmers Mutual||$875|
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Travelers normally has some of the cheapest car insurance rates in Indianapolis at around $620 each year. USAA, Cincinnati Insurance, Erie, and The Hartford also rank well as some of the cheapest Indianapolis, IN insurance companies.
In the above rates, if you are a policyholder with The Hartford and switched to USAA, you might see savings of in the vicinity of $174. Customers with Western Reserve could save as much as $191 a year, and Indiana Farmers Mutual insureds might realize rate reductions of up to $194 a year.
If you would like to find cheaper car insurance rates, click here to start your custom quote or click through to the companies below.
These policy rates are averaged across all drivers and vehicles and and are not figured with a vehicle location for drivers with good credit. So the car insurance company that can offer you the best rate may not even be in the top 36 companies shown above. That affirms the importance of why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
For financially responsible drivers, one of the big considerations that aid in calculating car insurance rates is where you choose to live. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with less congestion have the luxury of cheap car insurance rates.
The illustration below shows the most expensive areas in Indiana for drivers with good credit in which to purchase auto insurance. Indianapolis comes in at #6 with an annual rate of $1,082 for the average policyholder, which is around $90 monthly.
|Rank||City||Premium Per Year|
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Prices are estimated as the specific geographic location can raise or lower coverage prices noticeably.
Insuring your vehicle with the right car insurance company is hard considering how many different insurance companies sell coverage in Indianapolis. The information in the lists below can help you decide which companies to look at comparing price quotes from.
These ratings are only comprised of the largest companies in the United States, so companies that only write business in Indiana or surrounding areas are not factored into these rankings. To view rates from these and other companies in Indiana, follow this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Types of discounts on Indianapolis auto insurance
Auto insurance companies that provide coverage for drivers with good credit may provide premium discounts that can reduce rates by as much as 40% or more if you qualify. Popular auto insurance companies and a summarized list of policyholder discounts are included below.
- State Farm includes discounts for safe vehicle, multiple policy, passive restraint, Steer Clear safe driver discount, student away at school, and good student.
- Liberty Mutual has savings for safety features, new graduate, new move discount, multi-car, new vehicle discount, and hybrid vehicle.
- American Family policyholders can earn discounts including multi-vehicle, air bags, good driver, TimeAway discount, and good student.
- Progressive discounts include good student, online quote discount, multi-vehicle, continuous coverage, and multi-policy.
- Farmers Insurance may offer discounts for early shopping, homeowner, teen driver, good student, switch companies, pay in full, and alternative fuel.
- Auto-Owners Insurance may include discounts for good student, paperless, company car, anti-lock brakes, group or association, and air bags.
- SAFECO offers discounts including homeowner, teen safe driver, bundle discounts, teen safety rewards, anti-lock brakes, and accident prevention training.
The chart below shows the comparison of insurance rates with and without discounts applied to the premium. The rates are based on a female driver, no driving violations, no at-fault accidents, Indiana state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with marriage, safe-driver, anti-theft, multiple vehicle, defensive driving course, and passive restraint discounts applied. When these discounts are applied, theamount saved on auto insurance for drivers with good credit is 28% or $470.
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Indiana auto insurance rates are influenced by many factors that control the policy price. Simply turning a year older, moving to a new city, or getting a couple of tickets may prompt premium changes that can make some companies cheaper than before. Not only may things change on your end, but insurers change prices as needed to adjust for unexpected claims or profits. Unexpectedly high claims can cause higher prices, while lower claim expenses can cause more affordable Indianapolis car insurance rates.
To illustrate this point, the data below shows the company with the cheapest car insurance in Indianapolis, IN for a 30-year-old female driver with no accidents or violations, and a good credit history. Based on her current risk profile, Travelers offers the cheapest car insurance rates in Indianapolis at $715 per year. This is $525 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are the remaining best Indianapolis, IN auto insurance companies.
In this example, we will give the driver from the first rate comparison a couple of claims, a lower credit rating, and a couple of points charged on her driving record. Since each company has a different process for determining prices, analyzing rate quotes most likely will result in a different ranking of companies as shown below.
The Hartford now has the best insurance rate in Indianapolis, IN with Auto-Owners, Nationwide, USAA, and Utica National now being in the top five. This illustrates why it is critical to perform a complete rate comparison when trying to find cheap insurance rates for drivers with good credit. Prices can be altered by many things and change substantially, so the cheapest company a year ago may now not even be in the top five.