It’s easy to assume that insurance companies don’t want policyholders to shop around. Insureds who get comparison quotes once a year will probably switch companies because the odds are good of finding a cheaper policy. A study discovered that drivers who routinely shopped for cheaper coverage saved approximately $3,400 over four years compared to people who never shopped around.
If finding budget-friendly car insurance in Indianapolis is the reason you’re reading this, then learning about the best way to compare insurance coverage can make the process more efficient.
The best way we recommend to get affordable auto insurance rates in Indianapolis is to compare quotes once a year from different companies in Indiana. Prices can be compared by following these steps.
- First, read about what is in your policy and the things you can control to drop your rates. Many policy risk factors that drive up the price like getting speeding tickets and an unfavorable credit rating can be eliminated by making lifestyle changes or driving safer. Read the full article for more details to help prevent costly coverage and get bigger discounts that may have been overlooked.
- Second, compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or Allstate, while independent agencies can quote rates from many different companies.
- Third, compare the new rates to your existing policy to see if cheaper Outback coverage is available in Indianapolis. If you can save money and buy the policy, make sure coverage does not lapse between policies.
- Fourth, tell your current agent or company to cancel your current auto insurance policy. Submit any necessary down payment along with the completed application for your new coverage. As soon as you receive it, put the certificate of insurance in your vehicle.
The most important part of shopping around is that you’ll want to make sure you compare similar limits and deductibles on every quote request and and to get quotes from all possible companies. Doing this ensures a fair price comparison and the most accurate and complete price analysis.
How to Lower Your Insurance Premiums
Many things are part of the calculation when quoting car insurance. A few of the factors are predictable like your driving record, although some other factors are less apparent like your vehicle usage or your financial responsibility. Smart consumers have a good feel for some of the factors that come into play when calculating your premiums. When you know what positively or negatively positively or negatively impacts your premiums, this allows you to make good choices that can earn you cheaper rates.
The itemized list below are a few of the things insurance companies consider when setting your rate level.
Responsible drivers have lower costs – Even a single chargeable violation can increase the cost of insurance by as much as twenty percent. Careful drivers receive lower rates than their less careful counterparts. Drivers who have gotten careless violations such as DUI, reckless driving or excessive speeding are required to prove financial responsibility to the state department of motor vehicles in order to drive a vehicle legally.
The information below illustrates how traffic citations and at-fault claims drive up Subaru Outback auto insurance costs for different categories of driver ages. The prices are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
- Vehicles with better crash test results cost less to insure – Safe vehicles tend to be cheaper to insure. Highly rated vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries means your insurance company pays less and more competitive rates for policyholders.
Premiums drop with age – More experienced drivers are shown to be more cautious, cause fewer claims and accidents, and are generally more financially stable. Inexperience drivers tend to be less responsible with other occupants in the car and because of this, their insurance rates are much higher.
The next chart uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Your address can influence price – Having an address in a small town is a good thing when trying to find low car insurance rates. Urban drivers tend to have more traffic problems and longer commutes to work. Fewer drivers translates into fewer accidents.
- Save money with higher deductibles – Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your Subaru. Some examples of covered claims could be a broken side mirror, flood damage, and having your car stolen. The deductibles are the amount of money you are willing to pay out-of-pocket if a claim is determined to be covered. The more you have to pay, the less your insurance will be.
- Insurance policy lapses raise rates – Going without insurance will be a guaranteed way to bump up your insurance costs. And not only will your rates increase, being ticketed for driving with no insurance could earn you a revoked license or a big fine.
Insurance loss data for Subaru Outback vehicles – Companies include the past claim history for a vehicle when determining insurance rates. Vehicles that the statistics show to have higher frequency or amount of claims will have increased rates. The table below demonstrates the insurance loss data for Subaru Outback vehicles.
For each coverage category, the claim probability for all vehicles, as an average, is represented as 100. Values that are below 100 represent a good loss history, while percentage values above 100 indicate more frequent claims or larger claims.
Insurance Loss Ratings for Subaru Outback Vehicles Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Subaru Outback 4WD 58 68 106 63 64 68 Subaru Outback with Eyesight 4WD 57 46 106 61 58 40BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Finding a lower price on Subaru Outback insurance can be relatively painless. All you need to do is take time to get quotes from online providers.
It’s so fast and easy to compare rates online that it replaces the need to call or drive to different Indianapolis agent offices. Quoting and buying Subaru Outback insurance online eliminates this option unless you have a complicated situation and need the professional assistance of a local agency. If you prefer, some companies allow you to get the lowest quotes online but purchase the actual policy in an agency.
The companies shown below can provide free quotes in Indianapolis, IN. If multiple providers are shown, we recommend you get prices from several of them to find the most affordable auto insurance rates.
Auto insurance analysis for a Subaru Outback
The premium information below showcases detailed analysis of insurance premium costs for Subaru Outback models. Having insight into how rate quotes are established can benefit drivers when making decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Outback 2.5I Premium||$154||$244||$264||$16||$80||$758||$63|
|Outback 2.5I Limited||$154||$244||$264||$16||$80||$758||$63|
|Outback 3.6R Premium||$154||$244||$264||$16||$80||$758||$63|
|Outback 3.6R Limited||$170||$288||$264||$16||$80||$818||$68|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Price information does not factor in Indianapolis location which can lower or raise insurance rates significantly.
The illustration below illustrates how choosing a deductible and can influence Subaru Outback insurance costs for different age categories. The premiums assume a married male driver, comp and collision included, and no discounts are applied to the premium.
Price comparison of only insuring for liability
The illustration below compares Subaru Outback insurance premiums when comparing full coverage to state minimum liability only. The price estimates are based on no claims or violations, $1,000 deductibles, marital status is single, and no policy discounts are applied.
Guidelines for dropping full coverage
There is no definitive rule that works best for making the decision to drop comp and collision coverage, but there is a broad guideline. If the yearly cost of full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s pretend your Subaru Outback claim settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $5,000 after you pay the deductible. If you are paying more than $500 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where eliminating full coverage is not recommended. If you haven’t paid off your loan, you must maintain physical damage coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage.
Three main reasons to buy insurance
Despite the fact that insurance is not cheap in Indianapolis, insuring your vehicle is required in Indiana but it also protects you in many ways.
First, most states have mandatory insurance requirements which means the state requires a minimum amount of liability insurance if you drive a vehicle. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you have a lien on your vehicle, it’s most likely the lender will make it mandatory that you buy full coverage to protect their interest in the vehicle. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Subaru at a much higher premium rate and force you to pay for the expensive policy.
Third, insurance safeguards both your car and your assets. Insurance will also pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if anyone sues you for causing an accident. If damage is caused by hail or an accident, your insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than offset the price you pay, particularly for liability claims. The average driver in America is wasting up to $700 annually so you should quote your policy with other companies at every renewal to ensure rates are inline.
Don’t neglect these discounts
Insurance can cost an arm and a leg, but there may be some discounts that may help make it more affordable. Some trigger automatically when you quote, but occasionally some discounts must be manually applied before you will receive the discount. If you don’t get every credit you qualify for, you could be saving more on your auto insurance.
- Accident-Free Discounts – Insureds who avoid accidents and claims are rewarded with significantly better rates on Indianapolis car insurance quote in comparison with policyholders that have many claims.
- Good Drivers – Drivers without accidents can save up to 40% or more on their Indianapolis car insurance quote than their less cautious counterparts.
- No Charge for an Accident – Not really a discount, but certain companies will forgive one accident without raising rates if you are claim-free before the accident.
- Low Mileage Discounts – Driving less may allow you to get lower prices due to less chance of an accident.
- Life Insurance Discount – Larger insurance carriers have a lower premium rate if you buy a life policy as well.
- Use Seat Belts – Drivers who always wear seat belts and also require passengers to fasten their seat belts could save 15% off the PIP or medical payment premium.
- Passive Restraints – Vehicles equipped with air bags or automatic seat belts can receive discounts of more than 20%.
- Anti-theft System – Anti-theft and alarm system equipped vehicles prevent vehicle theft and qualify for as much as a 10% discount.
Consumers should know that some credits don’t apply to your bottom line cost. A few only apply to individual premiums such as comprehensive or collision. Even though it appears adding up those discounts means a free policy, it just doesn’t work that way.
The information below visualizes the comparison of Subaru Outback premium costs with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Indiana state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, claim-free, multi-car, and homeowner discounts applied.
For a list of insurance companies that have a full spectrum of discounts in Indiana, follow this link.
Local Indianapolis insurance agencies
A lot of people just want to have an agent’s advice and often times that is recommended Insurance agents can help you choose the best coverages and give you someone to call. One of the best bonuses of getting free rate quotes online is that you can find the best rates and still have a local agent. Buying from and supporting neighborhood agents is important particularly in Indianapolis.
For easy comparison, once you complete this short form, your insurance coverage information is submitted to local insurance agents in Indianapolis who will give you bids for your car insurance coverage. There is no need to leave your computer since rate quotes are delivered to you directly. If you need to get a price quote from a specific insurance company, you can always navigate to their website and submit a quote form there.
When searching for a good insurance agency, you should know the different agency structures and how they operate. Indianapolis agents are considered either independent agents or exclusive agents depending on their employer. Both handle car insurance, but it’s good to learn why they differ because it may have an impact on your selection of an agent.
Independent Car Insurance Agents (or Brokers)
Agents that choose to be independent are not required to write business for one company so they can write business with an assortment of companies and help determine which has the cheapest rates. If they find a cheaper price, they simply move your policy to a different company without you having to go to a different agency. When comparing rate quotes, you will want to include rate quotes from a couple of independent agencies in order to have the best price comparison.
Featured below is a small list of independent agents in Indianapolis that can give you pricing information.
Indiana Discount Insurance
5502 N Keystone Ave – Indianapolis, IN 46220 – (317) 863-0349 – View Map
These type of agents can only provide pricing for a single company such as Allstate, Farmers Insurance or State Farm. These agents are not able to provide other company’s prices so always compare other rates. These agents are usually quite knowledgeable on their products and sales techniques and that can be a competitive advantage.
Below are Indianapolis exclusive insurance agents willing to provide price quote information.
Finding the right auto insurance agent is decision based upon more than just a cheap price quote. Here are some questions you might want to ask.
- What will you get paid if your car is a total loss? How is that amount determined?
- Do they have 24-hour customer assistance?
- Are aftermarket or OEM parts used to repair vehicles?
- Can you get a list of referrals?
- Does the agent have a valid license to sell insurance in Indiana?
Smart consumers save more
When trying to cut insurance costs, it’s very important that you do not skimp on critical coverages to save a buck or two. In many cases, drivers have reduced full coverage only to discover later they didn’t purchase enough coverage. Your aim should be to get the best coverage possible at the best cost, but do not skimp to save money.
Budget-friendly car insurance in Indianapolis can be purchased from both online companies as well as from insurance agents, so you need to quote Indianapolis car insurance with both in order to have the best price selection to choose from. There are still a few companies who do not offer rate quotes online and most of the time these smaller providers only sell coverage through independent insurance agents.
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Who Has the Cheapest Indianapolis Auto Insurance Rates for Low Credit Scores? (FAQ)
- What Auto Insurance is Cheapest for Nurses in Indianapolis? (FAQ)
- What Car Insurance is Cheapest for First-time Drivers in Indianapolis? (FAQ)
- How Much are Indianapolis Car Insurance Rates for a Hyundai Sonata? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Credit Impacts Car Insurance Rates (State Farm)