For foreigners, one of the more important components that determine the cost of insurance is the neighborhood you call home. Cities with more crime and/or more people likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive slightly lower rates.
The following table ranks the highest-priced places in Indiana for immigrants to buy auto insurance in. Indianapolis is listed at #6 costing $1,050 for car insurance, which is about $88 per month.
|Rank||City||Average Per Year|
|Find the Best Rates Go|
Rate quotes are approximated as specific location information can alter rates substantially.
The car, truck, or SUV you are buying coverage for is one of the biggest factors that determines whether or not you can buy the best cheap insurance for immigrants. Vehicles with lower acceleration and performance, a plethora of safety features, or a low likelihood of having liability claims will cost less to insure than fast, unsafe models. The table below ranks car insurance costs for some of the most cost-effective automobiles to insure in Indiana.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,058|
|Dodge Grand Caravan SE||$1,189|
|Chevrolet Impala LS||$1,231|
|Ford Escape XLT 4WD||$1,240|
|Honda CR-V EX 4WD||$1,246|
|Toyota Camry LE||$1,254|
|Chevrolet Equinox LT AWD||$1,264|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,278|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,286|
|Ford Explorer Eddie Bauer 4WD||$1,278|
|Honda Accord EX-L 4-Dr Sedan||$1,317|
|Toyota Corolla S||$1,320|
|Ford Fusion Sport 4-Dr Sedan||$1,343|
|Nissan Rogue S 2WD||$1,345|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,409|
|Compare Cheap Rates Go|
Price 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 safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Premium costs do not factor in your specific Indianapolis, IN location which can revise coverage rates considerably.
Based upon the rates shown, we can expect cars like the Hyundai Elantra, Dodge Grand Caravan, Chevrolet Impala, and Ford Escape will be a few of the most economical vehicles to insure for foreigners.
Types of discounts on Indianapolis insurance rates
Insurance providers that provide coverage for immigrants may also provide price discounts that can reduce rates by as much as 25% or more if you qualify. Popular insurance companies and the discounts they provide are:
- Farmers Insurance has savings for bundle discounts, good student, multi-car, distant student, and homeowner.
- State Farm has discounts for safe vehicle, passive restraint, defensive driving training, Drive Safe & Save, multiple policy, good driver, and anti-theft.
- Liberty Mutual includes discounts for new vehicle discount, newly retired, newly married, teen driver discount, safety features, and new graduate.
- MetLife offers premium reductions for good driver, multi-policy, defensive driver, claim-free, good student, and accident-free.
- Progressive offers discounts including multi-policy, continuous coverage, online signing, multi-vehicle, homeowner, online quote discount, and good student.
The chart below illustrates the difference between insurance premiums with and without discounts applied to the policy rates. The price estimates are based on a male driver, no violations or accidents, Indiana state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, claim-free, multiple vehicle, defensive driving course, and anti-theft discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for immigrants is 28% or $499.
Rate comparison of full coverage and liability-only
Reducing the cost of insurance is probably important to the majority of drivers, and one of the easiest ways to buy cheap insurance for immigrants is to not insure for full coverage. The information below illustrates the difference between auto insurance rates with liability coverage only compared to full coverage. The information is based on no violations or claims, $100 deductibles, marital status is single, and no discounts are applied to the premium.
On average, full coverage on your policy costs an extra $1,797 per year more than just buying liability only. That is a significant amount which raises the question when is the right time to remove full coverage. There is no clear-cut rule of when to drop full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
There are a few cases where eliminating full coverage is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.
The illustration below highlights how deductible choice can increase or decrease insurance prices when quoting cheap insurance for immigrants. Data assumes a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
The data above shows that a 50-year-old driver could lower rates by $198 a year by switching from a $100 deductible to a $500 deductible, or save $296 by selecting a $1,000 deductible. Young drivers, like the 20-year-old category, can cut up to $652 or more by selecting a higher deductible. If you do decide to increase your deductibles, it is a good idea to have enough savings set aside to offset the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
The insurance agents in Indianapolis listed below can probably aid you in deciding which auto insurance policy would work best for you, as some drivers aren’t sure which coverage they need and prefer to have a little guidance when shopping for cheaper insurance for immigrants. It can be challenging to find the best policy yourself, and a licensed agent can give satisfaction knowing you have enough protection.
To find an Indianapolis insurance agent using an interactive map, click the button link following the list or click here to compare price quotes now.
Owens Insurance Agency
N Alabama St #350 – Indianapolis, IN 46204 – (317) 572-8080
Shepherd Insurance and Financial Services
111 Congressional Blvd Suite 100 – Carmel, IN 46032 – (317) 846-5554
Allstate Insurance: Scott Verbarg
6120 E Thompson Rd Ste B – Indianapolis, IN 46237 – (317) 802-1550