It takes a little time, but the best way to find lower priced car insurance rates in Indianapolis is to compare quotes annually from companies who can sell car insurance in Indiana. You can compare prices by following these steps.
- Step 1: Learn about the different coverages in a policy and the measures you can take to keep rates in check. Many risk factors that cause rate increases like careless driving and a not-so-good credit score can be rectified by making small lifestyle or driving habit changes.
- Step 2: Request rate estimates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from a single company like GEICO or Allstate, while independent agencies can provide rate quotes from multiple companies. Select a company
- Step 3: Compare the new rate quotes to the premium of your current policy to see if cheaper Accord coverage is available. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Tell your current company of your intention to cancel the current policy and submit any necessary down payment along with the completed application to your new carrier. Immediately upon receiving it, store the proof of insurance paperwork with your registration paperwork.
One key aspect of rate comparisons is to use identical coverage information on each price quote and and to analyze every insurance company. Doing this helps ensure an apples-to-apples comparison and the most accurate and complete price analysis.
It's astonishing, but nearly 70% of customers have remained with the same auto insurance company for at least four years, and almost 40% of drivers have never even compared quotes to find cheaper rates. American insurance shoppers could save nearly $860 every year just by comparing rates, but they don't want to spend time to find cheaper rates by getting comparison quotes.
If you are already insured or are just looking to switch companies, you can use this information to get lower rates while maintaining coverages. These techniques will help you learn how car insurance companies work. Smart shoppers just have to learn the quickest way to compare rates using one simple form.
Affordable car insurance in Indianapolis, IN
The companies in the list below provide quotes in Indianapolis, IN. If multiple companies are shown, we recommend you visit as many as you can in order to find the lowest rates.
Honda Accord insurance statistics and information
The rate table displayed next covers estimates of policy rates for Honda Accord models. Having knowledge of how auto insurance premiums are formulated can be valuable when making smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$188||$300||$238||$14||$72||$812||$68|
|Accord LX 4-Dr Sedan||$188||$300||$238||$14||$72||$812||$68|
|Accord EX 4-Dr Sedan||$188||$300||$238||$14||$72||$812||$68|
|Accord LX-P 4-Dr Sedan||$188||$300||$238||$14||$72||$812||$68|
|Accord LX-P 4-Dr Sedan||$188||$300||$238||$14||$72||$812||$68|
|Accord EX-L 4-Dr Sedan||$216||$366||$238||$14||$72||$906||$76|
|Accord EX 2-Dr Coupe||$216||$430||$318||$18||$94||$1,076||$90|
|Accord LX-S 2-Dr Coupe||$216||$430||$318||$18||$94||$1,076||$90|
|Accord EX-L 2-Dr Coupe||$244||$430||$318||$18||$94||$1,104||$92|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Information does not factor in vehicle location which can modify premium rates noticeably.
The diagram below demonstrates how deductible levels and can influence Honda Accord insurance costs for each different age group. The price estimates are based on a single male driver, comp and collision included, and no other discounts are factored in.
Insurance premiums for males and females
The example below shows the comparison of Honda Accord premium costs for male and female drivers. The prices are based on no violations or accidents, full physical damage coverage, $250 deductibles, marital status is single, and no discounts are applied to the premium.
Full coverage or liability only
The chart below visualizes the comparison of Honda Accord yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Indiana. The data is based on no accidents or driving violations, $250 deductibles, single marital status, and no additional discounts are factored in.
When to drop full coverage
There is no definitive formula for eliminating comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let's assume your Honda Accord replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $3,000 after paying the physical damage deductible. If you are paying more than $300 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some scenarios where eliminating full coverage is not advised. If you haven't paid off your loan, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Indianapolis car insurance discounts
Insurance can be prohibitively expensive, but discounts can save money and there are some available that you may not know about. Many discounts should be triggered at the time of quoting, but a few need to be requested specifically before being credited.
- Safe Driver Discounts - Drivers who avoid accidents may save up to 50% more compared to rates paid by drivers with frequent claims.
- Discount for Home Ownership - Just owning your own home can get you a discount because it requires a higher level of personal finance.
- Low Mileage Discounts - Low mileage vehicles may enable drivers to earn better rates on cars that stay parked.
- Defensive Driving Course - Taking time to complete a course teaching defensive driver skills could cut 5% off your bill and make you a better driver.
- Air Bags and Passive Restraints - Cars that have air bags or automatic seat belts may earn rate discounts of more than 20%.
- Senior Citizen Rates - Older drivers may be able to get reduced rates.
Drivers should understand that many deductions do not apply to the entire policy premium. Most only apply to individual premiums such as comprehensive or collision. Even though it appears adding up those discounts means a free policy, you aren't that lucky.
The diagram below shows the difference between Honda Accord car insurance costs with and without discounts applied to the premium. The rate quotes are based on a male driver, no driving violations, no at-fault accidents, Indiana state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-policy, claim-free, homeowner, and multi-car discounts applied.
Car insurance companies that may offer policyholders some of the discounts shown above may include but are not limited to:
Before purchasing a policy, check with each company or agent how many discounts you can get. Some of the discounts discussed earlier may not be available everywhere. To see a list of providers that offer the discounts shown above in Indianapolis, click this link.
Buying from insurance agents
A small number of people still like to talk to an insurance agent and doing so can bring peace of mind Good agents can help you choose the best coverages and help file insurance claims. The biggest benefit of comparing rate quotes online is that drivers can save money and get cheaper prices but still work with a licensed agent. Buying insurance from neighborhood agents is definitely important in Indianapolis.
To help locate an agent, after submitting this short form, your insurance data is submitted to companies in Indianapolis who will give you bids for your business. You won't even need to leave your computer since rate quotes are delivered immediately to you. If for some reason you want to get a rate quote from a particular provider, feel free to navigate to their website and fill out the quote form the provide.
Two types of car insurance agents
If you want to use a local insurance agency, there are two different types of agencies and how they differ in how they quote coverages. Car insurance policy providers are either independent (non-exclusive) or exclusive. Either type can sell car insurance policies, but it's important to point out how they are different since it can impact your agent selection.
Independent Car Insurance Agencies or Brokers
These type of agents do not work for one specific company and that is an advantage because they can write policies with many different companies and find the cheapest car insurance rates. If you are not satisfied with one company, they can switch companies in-house and you don't have to do anything.
When comparing rate quotes, you will definitely want to include rate quotes from at a minimum one independent agency to have the most options to choose from. Most have the option of insuring with mutual insurance companies which may have better rates.
Shown below is a short list of independent agents in Indianapolis that can possibly get you rate quotes.
- Indiana Auto Insurance Group
201 N Illinois St - Indianapolis, IN 46204 - (317) 641-4572 - View Map
- Owens Insurance Agency
N Alabama St #350 - Indianapolis, IN 46204 - (317) 572-8080 - View Map
- Access Auto Insurance
2107 W Washington St - Indianapolis, IN 46222 - (317) 687-8807 - View Map
Exclusive Car Insurance Agencies
These type of agents work for only one company like Allstate, Farmers Insurance, State Farm, and AAA. They are unable to compare other company's rates so if the price isn't competitive there isn't much they can do. Exclusive agencies are well schooled on their company's products which can be an advantage. Some consumers prefer to choose to use an exclusive agent primarily because of loyalty to the company rather than having the cheapest rates.
Listed below is a list of exclusive insurance agencies in Indianapolis that can give you rate quotes.
- State Farm: Amy Henry
7035 E 96th St Suite S-2 - Indianapolis, IN 46250 - (317) 897-1900 - View Map
- Sarah Holtrup - State Farm Insurance Agent
1480 W Southport Rd c - Indianapolis, IN 46217 - (317) 888-5200 - View Map
- Farmers Insurance
2229 Martin Luther King Jr St - Indianapolis, IN 46208 - (317) 925-5557 - View Map
Choosing a car insurance agent requires more thought than just the bottom line cost. Any agent in Indianapolis should have no problem answering these questions:
- How often do they review policy coverages?
- How would your car be valued if totaled?
- Does their agency support local causes in Indianapolis?
- Are they in the agency full-time?
- How will an accident affect your rates?
- If they are an independent agency in Indianapolis, which companies do they recommend?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
After talking to the agent and getting positive feedback to any questions you may have in addition to an acceptable price estimate, it's a good possibility that you have found an insurance agency that can be relied on to service your policy.
The coverage is in the details
Knowing the specifics of car insurance aids in choosing the best coverages at the best deductibles and correct limits. Car insurance terms can be confusing and even agents have difficulty translating policy wording.
Comprehensive coverage (or Other than Collision) - Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims such as damage from getting keyed, hitting a bird, fire damage and falling objects. The highest amount a car insurance company will pay at claim time is the ACV or actual cash value, so if it's not worth much more than your deductible it's not worth carrying full coverage.
Auto liability insurance - Liability coverage protects you from damages or injuries you inflict on other people or property. It protects YOU against other people's claims. It does not cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/10 that means you have $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a limit of $10,000 paid for damaged property. Alternatively, you may have a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage protects against things such as medical expenses, bail bonds and medical services. The amount of liability coverage you purchase is your choice, but it's cheap coverage so purchase as high a limit as you can afford. Indiana state law requires minimum liability limits of 25/50/10 but you should think about purchasing more liability than the minimum.
The chart below demonstrates why buying low liability limits may not be adequate coverage.
Uninsured Motorist or Underinsured Motorist insurance - This coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and damage to your Honda Accord.
Because many people have only the minimum liability required by law (Indiana limits are 25/50/10), it doesn't take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Insurance for medical payments - Coverage for medical payments and/or PIP kick in for short-term medical expenses for ambulance fees, prosthetic devices, chiropractic care and rehabilitation expenses. The coverages can be utilized in addition to your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP is not an option in every state but can be used in place of medical payments coverage
Collision - This pays for damage to your Accord resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things like driving through your garage door, colliding with another moving vehicle and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible on your Accord to get cheaper collision coverage.
Cheap rates are available
Some car insurance companies may not provide online rate quotes and these smaller companies prefer to sell through independent agencies. More affordable car insurance in Indianapolis can be purchased from both online companies in addition to local insurance agencies, and you should compare rates from both to have the best rate selection.
When trying to cut insurance costs, it's not a good idea to buy less coverage just to save a little money. There have been many situations where someone dropped full coverage and learned later that it was a big mistake. The ultimate goal is to buy the best coverage you can find at the best possible price.
Insureds leave their current company for a number of reasons such as denial of a claim, lack of trust in their agent, poor customer service or high prices. Regardless of your reason, finding a new car insurance company can be less work than you think.
For more information, feel free to browse the articles below:
- Property Damage Coverage (Liberty Mutual)
- What Car Insurance is Cheapest for Teachers in Indianapolis? (FAQ)
- Who Has Cheap Car Insurance for a Chevrolet Traverse in Indianapolis? (FAQ)
- How Much are Car Insurance Quotes After a Speeding Ticket in Indianapolis? (FAQ)
- Who Has Cheap Auto Insurance for Uninsured Drivers in Indianapolis? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- What is Gap Insurance? (Insurance Information Institute)
- Determining Your Vehicle's Value and Repair Cost (Insurance Information Institute)
- Learn About Car Insurance (GEICO)