It's safe to conclude that car insurance companies don't want you to look at other companies. Drivers who compare other prices are very likely to switch car insurance companies because of the good chance of finding a lower-priced policy. Remarkably, a study showed that drivers who made a habit of comparing rates saved $70 a month as compared to drivers who didn't regularly shop around.
If finding the lowest price for auto insurance in Indianapolis is your ultimate objective, knowing how to choose a company and compare coverages can save time and money.
The most effective way to get cheaper auto insurance rates in Indianapolis is to annually compare prices from different companies that sell auto insurance in Indiana.
- Read about policy coverages and the things you can control to drop your rates. Many risk factors that drive up the price such as speeding and an imperfect credit score can be improved by being financially responsible and driving safely. Keep reading for ideas to help prevent expensive coverage and find more discounts that you may not know about.
- Compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from one company like GEICO or State Farm, while independent agents can give you price quotes for a wide range of insurance providers. Compare rates now
- Compare the quotes to your existing rates to determine if you can save on Altima insurance. If you can save some money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
One bit of advice is that you'll want to make sure you compare identical coverages on each quote request and and to get quotes from all possible companies. Doing this enables the most accurate price comparison and a better comparison of the market.
If you already have coverage, you will be able to save money using this strategy. Choosing the best rates in Indianapolis is really quite simple as long as you have a good starting point. Although Indiana drivers must understand how insurance companies sell insurance online and use it to find better rates.
What Affects Nissan Altima Insurance Premiums?
Many different elements are used when premium rates are determined. Some are obvious such as traffic violations, although some other factors are less apparent like where you live or how financially stable you are. Smart consumers have a good feel for a few of the rating criteria that go into determining auto insurance rates. When consumers understand what determines base rates, this helps enable you to make changes that can help you get lower rates.
The list below includes some of the factors used by insurance companies to determine premiums.
Poor credit can mean higher prices - A driver's credit score is likely to be a major factor in calculating your premium rate. Drivers who have high credit ratings tend to be more responsible and file fewer claims than drivers who have lower credit scores. So if your credit history could use some work, you could save money insuring your Nissan Altima if you clean up your credit.
Always have auto insurance - Driving without insurance can get you a ticket and you may have a hard time finding new coverage because you let your insurance coverage expire. And not only will insurance be more expensive, not being able to provide proof of insurance will get you fines and jail time. You may need to submit proof of financial responsibility or a SR-22 with the Indiana motor vehicle department to get your license reinstated.
Safeguard your assets with liability protection - Liability insurance is the protection when you are determined to be liable for causing personal injury or damage in an accident. It provides legal defense which can cost a lot. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so buy as much as you can afford.
Urban residents pay more - Living in less populated areas of the country may provide you with better prices when talking about auto insurance. Residents of big cities tend to have more auto accidents and higher rates of accident claims. Fewer people means fewer accidents.
Insurance is expensive for teen drivers - Mature drivers tend to be more responsible, statistically cause fewer accidents, and usually have better credit. Drivers with little experience tend to be inattentive and easily distracted when behind the wheel and because of this, their auto insurance rates are much higher.
The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Nissan Altima historical loss data - Companies take into consideration historical loss data for every vehicle when they file their rates in each state. Vehicles that tend to have higher claim frequency or loss amount will cost more for specific coverages. The table below shows the loss history for Nissan Altima vehicles.
For each policy coverage, the claim probability for all vehicles compiled together is considered to be 100. Values that are under 100 indicate a favorable loss history, while values that are above 100 show a trend for more claims or a tendency for losses to be larger than average.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
How to lower your Nissan Altima insurance cost in Indianapolis
When comparison shopping, there are several ways to compare quotes from all the different companies. The best method to lower the rate you pay for Nissan Altima insurance involves getting comparison quotes online.
Online shopping is fast and free, and it makes it obsolete to make phone calls or go to insurance agencies in your area. Comparing Nissan Altima insurance rates online has reduced the need for local agents unless you're the type of person who wants the trained advice of an agent trained in personal lines coverage. Although, it is possible obtain prices from the web and get advice from an agent in your area. Keep in mind that getting more free quotes helps you find the best rates.
The companies shown below are ready to provide price quotes in Indianapolis, IN. If the list has multiple companies, it's a good idea that you get rates from several of them in order to get a fair rate comparison.
Rates and data analysis
The premium table displayed next covers detailed analysis of insurance prices for Nissan Altima models. Learning how prices are determined helps drivers make smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Altima 2.5 4-Dr Sedan||$208||$414||$364||$22||$110||$1,118||$93|
|Altima 2.5 S 4-Dr Sedan||$208||$486||$364||$22||$110||$1,190||$99|
|Altima Hybrid 4-Dr Sedan||$236||$486||$364||$22||$110||$1,218||$102|
|Altima 2.5 S 2-Dr Coupe||$236||$486||$412||$24||$124||$1,282||$107|
|Altima 3.5 SR 4-Dr Sedan||$236||$486||$364||$22||$110||$1,218||$102|
|Altima 3.5 SR 2-Dr Coupe||$236||$560||$412||$24||$124||$1,356||$113|
|Get Your Own Custom Quote Go|
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Information does not factor in vehicle location which can raise or lower coverage rates greatly.
Auto insurance rates by gender and age
The diagram below shows the difference between Nissan Altima car insurance rates for male and female drivers. The prices are based on no claims, a clean driving record, comp and collision included, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
Cost of full coverage
The example below visualizes the comparison of Nissan Altima insurance premiums with full coverage compared to only the Indiana minimum liability coverage. The prices are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no additional discounts are factored in.
Should you pay for full coverage or liability only?
There is no clear-cut formula of when to exclude comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, then it's probably a good time to buy liability coverage only.
For example, let's say your Nissan Altima replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,000 after the deductible is paid. If premiums are more than $400 a year for physical damage coverage, then it might be time to buy liability only.
There are a few cases where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
Best reasons to buy insurance in Indiana
Despite the high insurance cost for a Nissan Altima in Indianapolis, insurance is required by state law in Indiana and it also provides benefits you may not be aware of.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance coverage in order to drive the car. 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.
- If you have a lien on your Altima, it's guaranteed your bank will stipulate that you have insurance to protect their interest in the vehicle. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Nissan for a lot more money and force you to pay for the much more expensive policy.
- Insurance preserves both your assets and your Nissan. It also can pay for medical expenses incurred in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense in the event you are sued. If your car is damaged in a storm or accident, your policy will pay to repair the damage minus the deductible amount.
The benefits of buying insurance definitely exceed the price paid, particularly when you have a large claim. But the average American driver is overpaying more than $869 every year so you should quote and compare rates at every policy renewal to save money.
Earn discounts on Indianapolis car insurance
Car insurance companies don't always advertise their entire list of discounts in a way that's easy to find, so we break down both well-publicized as well as the least known credits that you can use to lower your rates.
- Low Miles Discount - Low mileage vehicles could be rewarded with slightly better car insurance rates than normal.
- Discount for Passive Restraints - Vehicles equipped with air bags or automatic seat belts can receive discounts up to 30%.
- Homeowners Savings - Owning your own home or condo can save a few bucks because owning a home requires personal responsibility.
- Pay Upfront and Save - If paying your policy premium upfront as opposed to paying monthly you may have a lower total premium amount.
- Distant Student Discount - Older children who are attending college without a vehicle on campus could get you a discount.
- Savings for New Vehicles - Buying coverage on a new vehicle may earn a small discount because newer models are generally safer.
Please keep in mind that some of the credits will not apply to the entire cost. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. So even though you would think you can get free auto insurance, you aren't that lucky.
The example below shows the difference between Nissan Altima car insurance rates with and without discounts being applied to the rates. The prices are based on a female driver, a clean driving record, no claims, Indiana state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, multi-policy, safe-driver, and marriage discounts applied.
Large car insurance companies and their possible discounts are:
- GEICO has savings for emergency military deployment, daytime running lights, seat belt use, anti-theft, air bags, federal employee, and anti-lock brakes.
- Mercury Insurance may offer discounts for good driver, annual mileage, good student, accident-free, and anti-theft.
- Farmers Insurance includes discounts for distant student, bundle discounts, alternative fuel, youthful driver, and business and professional.
- Auto-Owners Insurance policyholders can earn discounts including anti-theft, safe vehicle, mature driver, company car, good student, and multiple vehicles.
- Liberty Mutual offers discounts including preferred payment discount, newly married, new graduate, new move discount, multi-car, and hybrid vehicle.
- SAFECO discounts include accident prevention training, multi-car, drive less, teen safety rewards, and anti-theft.
- Progressive has discounts for homeowner, multi-policy, good student, continuous coverage, and multi-vehicle.
- USAA may include discounts for driver training, defensive driver, loyalty savings, vehicle storage, military installation, multi-policy, and multi-vehicle.
If you are trying to find inexpensive Indianapolis auto insurance quotes, ask all companies you are considering to give you their best rates. Some credits may not apply to policyholders in Indianapolis.
When to talk to an agent
Many people just prefer to talk to a local agent and that is a personal choice. One of the benefits of comparing rates online is you can get cheaper prices but also keep your business local. And supporting local insurance agents is especially important in Indianapolis.
For easy comparison, once you complete this short form, your insurance data is emailed to insurance agents in Indianapolis that can provide free Indianapolis auto insurance quotes for your insurance coverage. You never need to contact an agency as quotes are delivered immediately to your email address. You can find lower rates without the usual hassles of price shopping. If you need to compare prices for a specific company, feel free to visit that company's website and submit a quote form there.
Shown below are Indianapolis insurers that are able to give price quotes for Nissan Altima insurance in Indianapolis.
Finding the right insurer requires more thought than just the price. You should also get answers to these questions.
- Will your rates increase after a single accident?
- Will they take your side in the event of a claim?
- By raising physical damage deductibles, how much would you save?
- Is the agency covered by Errors and Omissions coverage?
- Do you work with a CSR or direct with the agent?
- Are they giving you every discount you deserve?
- Are they properly licensed to sell insurance in Indiana?
- Do they offer rental car reimbursement?
After receiving satisfactory answers to all your questions in addition to an acceptable price estimate, you may have just found an insurer that can be relied on to provide auto insurance coverage. Just be aware that once you purchase a policy you can cancel coverage whenever you wish so never feel that you're stuck with the auto insurance policy for the full term.
What is the best insurance coverage?
Always remember that when buying your policy for your vehicles, there isn't really a perfect coverage plan. Everyone's needs are different.
Here are some questions about coverages that can help discover whether your personal situation may require specific advice.
- Are my custom wheels covered?
- What are the best liability limits?
- Who is covered by my policy?
- What is glass protection for?
- What is the rate difference between pleasure use and commuting?
- What if I total my Nissan Altima and owe more than it's worth?
- Am I covered if I drive in a foreign country?
- What discounts do I qualify for?
If you can't answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete this form.
Cheaper car insurance in Indianapolis can be found both online and from local insurance agents, and you need to comparison shop both to have the best selection. Some insurance providers do not provide price quotes online and many times these small insurance companies work with independent insurance agencies.
Insureds change insurance companies for a number of reasons such as policy cancellation, being labeled a high risk driver, high rates after DUI convictions or not issuing a premium refund. It doesn't matter what your reason, finding a great new company is actually quite simple.
When searching for low cost Indianapolis auto insurance quotes, don't be tempted to reduce coverage to reduce premium. In many cases, an insured dropped liability limits or collision coverage and found out when filing a claim that they should have had better coverage. Your objective should be to find the BEST coverage for the lowest price, but don't skip important coverages to save money.
Additional car insurance information is available on the following sites:
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- How Much are Indianapolis Car Insurance Rates for Inexperienced Drivers? (FAQ)
- Teen Driver Licensing Information (iihs.org)
- Vehicle Insurance (Wikipedia)
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)