Cheapest Car Insurance In Indiana For 2024

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Updated: 31 August 2024
Written by Bob Phillips
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If affordable car insurance in Indiana is what you’re after, Auto-Owners is the leading provider. Known for its competitive rates and dependable service, it provides excellent value for both liability and full-coverage plans.

This guide compares various insurance options with a focus on affordability. With more than a decade of experience in reviewing car insurance, I’ve meticulously examined the top providers to give you the best insights. My thorough analysis takes a deep dive into each company’s offerings, ensuring you get the critical information you need.

Cheapest Car Insurance Companies In Indiana

Cheapest Car Insurance, Indiana, 2024

Cheapest Car Insurance In Indiana For Minimum Coverage

Auto-Owners boasts the lowest-priced car insurance in Indiana, with an average monthly premium of $21.

Provider Average Monthly Cost Average Annual Cost
Auto-Owners $21 $254
Pekin $22 $269
Grange Insurance $23 $272
Hastings Mutual $24 $283
Encompass $25 $299

The minimum coverage for car insurance in Indiana meets the legal obligations and provides basic protection. It consists of Personal Injury Protection (PIP), which covers medical bills and lost income for you and your passengers, regardless of fault, and Property Damage Liability (PDL), which addresses damage to others’ property in accidents where you’re responsible. Though this option appeals to drivers seeking affordable solutions, its limitations in serious accidents should be considered.

Minimum coverage meets state requirements and provides basic protection, but it does not offer the extensive benefits of more comprehensive insurance plans. It does not cover collision or comprehensive insurance, leaving drivers liable for damages to their vehicle in accidents, theft, or natural disasters. Consequently, drivers should evaluate their specific circumstances and consider additional coverage beyond the minimum requirements to ensure adequate protection.

Cheapest Car Insurance In Indiana For Drivers With Poor Credit

GEICO auto insurance is the most budget-friendly choice for those with bad credit, costing only $1,223 per year.

Provider Average Monthly Cost Average Annual Cost
GEICO $102 $1,223
USAA $104 $1,251
Progressive $140 $1,684
Indiana Farmers Mutual $150 $1,801
Auto-Owners $161 $1,933

Credit scores are a major factor in setting car insurance premiums, as they provide insurers with insight into a driver’s risk level. Drivers with lower credit scores are viewed as more likely to file insurance claims, which places them in a higher-risk category and results in higher premiums. Consequently, drivers with poor credit tend to pay more for car insurance compared to those with better credit. Credit scores help insurers assess not only driving history but also a driver’s overall financial stability and responsibility.

Despite the general trend, the insurance market does offer some help for drivers with less-than-ideal credit histories. Some insurance companies have customized their products for this group, offering more competitive rates that don’t penalize poor credit as much as standard policies. These insurers often use a more comprehensive approach in assessing risk, looking at factors beyond just the credit score such as driving record, location, and type of vehicle insured. For drivers affected by a lower credit score, it’s crucial to compare quotes from these specialized insurers. They may find more forgiving pricing structures that make car insurance more affordable despite credit difficulties.

Cheapest Car Insurance In Indiana For Full Coverage

For affordable full coverage car insurance, Hastings Mutual typically offers the lowest rate, averaging $71 per month.

Provider Average Monthly Cost Average Annual Cost
Hastings Mutual $71 $852
Encompass $89 $1,073
Auto-Owners $99 $1,186
Pekin $102 $1,227
Grange Insurance $104 $1,249

Full coverage car insurance offers extensive protection compared to minimal coverage, making it a popular choice among drivers. It typically includes both comprehensive and collision insurance, providing a comprehensive safety net. Comprehensive insurance covers non-collision incidents such as theft, vandalism, and natural disasters, while collision insurance covers vehicle damage in accidents, regardless of fault.

This dual-layered strategy ensures drivers are covered in numerous situations, including accidents and environmental damages. It’s especially recommended for owners of newer or high-value vehicles, which often require costly repairs or replacements. Despite being more expensive than minimal coverage, full coverage offers significantly enhanced protection. For owners of newer or more expensive vehicles, this insurance is essential to safeguard their investment.

Cheapest Car Insurance In Indiana For Seniors

Auto-Owners budget-friendly insurance policy for seniors is priced at approximately $566 per year.

Provider Average Monthly Cost Average Annual Cost
Auto-Owners $47 $566
American Family $48 $577
Geico $62 $741
Westfield $62 $748
Travelers $63 $761

Indiana seniors have the opportunity to obtain competitive car insurance rates, thanks to various advantageous factors. While age might suggest a decline in driving skills, many older drivers maintain excellent records. Insurance providers frequently offer better rates to seniors who have a history of minimal accidents and traffic violations, reflecting their driving experience.

Additionally, some insurance companies recognize the maturity and experience that comes with age, regarding senior drivers as responsible and less prone to risky driving behaviors. They further attract senior drivers by offering discounts tailored specifically for this age group, which can depend on factors such as age, how often they drive, and completion of senior driver safety courses. Many insurers encourage seniors to participate in defensive driving courses and may offer discounts upon completion. These courses are designed to refresh driving skills and promote safer driving habits.

Cheapest Car Insurance In Indiana For Good Drivers

Geico provides affordable auto insurance for motorists who drive safely.

Provider Average Monthly Cost Average Annual Cost
Geico $67 $806
State Farm $82 $983
Indiana Farmers Insurance $84 $1,006
American Family Insurance $100 $1,195
Progressive $101 $1,215

Competent drivers, known for their flawless driving histories, often qualify for lower car insurance premiums. Insurance companies evaluate risk by reviewing a driver’s past; those with no violations or accidents are categorized as low-risk. This favorable risk assessment stems from a demonstrated history of responsible and safe driving, implying a reduced probability of future claims. As a result, insurers are more inclined to offer these drivers more competitive premiums, reflecting the diminished financial risk they represent. For drivers who consistently obey traffic laws, avoid accidents, and demonstrate careful driving habits, this equates to significant long-term savings on their car insurance premiums.

 

Cheapest Car Insurance In Indiana For Young Drivers

Car insurance can be expensive for young drivers, particularly teenagers, because they have less experience driving. Insurance companies view inexperienced drivers as high-risk because statistics consistently show that they are more likely to have accidents and traffic violations. This increased risk leads to higher premiums as insurers try to cover potential claim costs from these novice drivers. Insurance rates for 16-year-olds, who are just starting to drive, can be especially high.

As teenagers begin driving, they are still developing their road awareness, reaction times, and decision-making skills in diverse traffic conditions, all crucial for safe driving. Despite these challenges, there are positive developments for young drivers looking for affordable insurance options. Some insurance providers understand the need to offer more budget-friendly solutions for new drivers. These insurers may offer special programs or discounts tailored to young drivers, such as discounts for good academic performance or completing certified driver education courses. These initiatives not only make insurance more accessible for teenagers but also promote responsible driving and the acquisition of better driving skills.

Cheapest Indiana Car Insurance For 16-Year-Olds

Searching for economical car insurance for a 16-year-old? Allstate offers the lowest rate at $164 per month.

Provider Average Monthly Cost Average Annual Cost
Allstate $164 $1,965
Indiana Farmers Insurance $168 $2,018
State Farm $263 $3,159
GEICO $312 $3,746
Indiana Farm Bureau Insurance $361 $4,326

Cheapest Indiana Car Insurance For 17-Year-Olds

Indiana Farmers Insurance provides affordable car insurance plans tailored for 17-year-olds, averaging $1,954 annually.

Provider Average Monthly Cost Average Annual Cost
Indiana Farmers Insurance $163 $1,954
Allstate $164 $1,965
GEICO $196 $2,349
State Farm $232 $2,784
Auto-Owners $258 $3,100

Cheapest Indiana Car Insurance For 18-Year-Olds

Indiana Farmers Insurance extends its affordable car insurance options to include 18-year-olds, with an average yearly premium of $1,894.

Provider Average Monthly Cost Average Annual Cost
Indiana Farmers Insurance $158 $1,894
Allstate $164 $1,965
GEICO $164 $1,971
State Farm $204 $2,443
Auto-Owners $235 $2,823

Cheapest Indiana Car Insurance For 21-Year-Olds

GEICO offers the best deal on car insurance for 21-year-olds, priced at around $1,142 per year.

Provider Average Monthly Cost Average Annual Cost
GEICO $95 $1,142
Indiana Farmers Insurance $121 $1,448
State Farm $137 $1,647
Auto-Owners $160 $1,924
Travelers $164 $1,965

Cheapest Car Insurance In Indiana For Drivers With Prior Incidents

In Indiana , drivers with prior accidents, speeding tickets, or DUIs often struggle to find inexpensive car insurance because they are considered high-risk by insurance companies. This classification is due to the higher probability that these drivers will file claims in the future, leading insurers to raise premiums. This trend is particularly evident in Indiana, where traffic incidents occur more frequently than in other states. Insurers base their pricing strategies on statistical analyses and risk assessments, which indicate that a history of driving incidents correlates with an increased likelihood of future claims.

Cheapest Car Insurance For Drivers With A Speeding Ticket

State Farm provides an average premium of $93, making it the top cost-effective option for speeding ticket holders.

Provider Average Monthly Cost Average Annual Cost
State Farm $93 $1,112
Indiana Farmers Mutual $106 $1,274
GEICO $110 $1,317
Travelers $130 $1,561
Progressive $153 $1,831

Cheapest Car Insurance For Drivers With An At-Fault Accident

Indiana Farmers Mutual is the cheapest insurance provider for those with an at-fault accident, offering average premiums of $117.

Provider Average Monthly Cost Average Annual Cost
Indiana Farmers Mutual $117 $1,399
State Farm $130 $1,563
Travelers $165 $1,978
Auto-Owners $190 $2,274
GEICO $208 $2,492

Cheapest Car Insurance For Drivers After A DUI

Indiana Farmers Mutual stands out as the cheapest provider for DUI drivers, with average premiums of $106.

Provider Average Monthly Cost Average Annual Cost
Indiana Farmers Mutual $106 $1,274
State Farm $107 $1,284
Progressive $125 $1,495
Geico $176 $2,110
Auto-Owners $280 $3,364

Average Cost Of Auto Insurance In Indiana – By Age

Age Average Monthly Cost Average Annual Cost
16 $381 $4,569
17 $299 $3,589
18 $266 $3,186
19 $226 $2,710
21 $173 $2,074
25 $129 $1,546
35 $118 $1,421
45 $108 $1,290
55 $101 $1,212
65 $106 $1,276
75 $125 $1,500

Average Cost Of Auto Insurance In Indiana – By Credit Tier

Credit Tier Average Monthly Cost Average Annual Cost
Excellent $47 $569
Good $57 $691
Fair $68 $827
Poor $81 $973

Average Cost Of Car Insurance In Indiana- By Gender & Marital Status

Gender Marital Status Average Annual Cost
Female Single $1,025
Male Single $1,050
Female Married $900
Male Married $950

Cheapest Car Insurance In Indiana By City

City Average Monthly Cost Average Annual Cost
Lafayette $99 $1,185
Muncie $99 $1,189
Elkhart $100 $1,204
Westfield $101 $1,214
Mishawaka $102 $1,228
West Lafayette $103 $1,230

Car Insurance Discounts In Indiana

When searching for car insurance, it’s smart to explore options that offer discounts tailored to your situation. Also, speaking with your insurance agent can reveal discounts you might be missing. Here are some common discounts offered by top insurers:

  • Multi-policy: Combine multiple insurance policies with one company to receive a discount.
  • Multi-vehicle: Insure more than one vehicle on the same policy for savings.
  • Military: Discounts for active military members and veterans.
  • Senior: Offered to drivers aged 55 and older.
  • Homeowners: Available if you own your home.
  • Good student: For students under 25 who maintain a B average.
  • Good driver: Save by having a clean driving record.
  • Defensive driving: Receive a discount after completing an approved defensive driving course.
  • Driver training: Discounts for taking a driver education course.
  • New car: Vehicles typically no older than three model years may qualify for discounts.
  • Safe car: Discounts for cars with safety features like anti-theft technology.
  • Paperless: Opt for digital documents to save on your premium.
  • Pay-in-full: Save by paying your premium in a lump sum.
 

Minimum Car Insurance Requirement In Indiana

In Indiana, drivers are required by law to maintain certain minimum car insurance coverage:

  • PIP: $10,000 per accident
  • Property damage liability: $10,000 per accident

Indiana’s legal framework, including the Financial Responsibility Law and No-Fault Law, mandates that all drivers have adequate car insurance coverage. This ensures they can handle accident expenses through required coverage like Personal Injury Protection (PIP) and Property Damage Liability (PDL).

In Indiana, Personal Injury Protection (PIP) is required under the state’s no-fault insurance laws. This coverage provides up to $10,000 for medical expenses, regardless of who is at fault in an accident. It also includes compensation for lost wages and death benefits for the policyholder and their family. Additionally, Property Damage Liability (PDL) is mandatory, covering up to $10,000 for damages to others’ property caused by the policyholder. PDL does not cover damage to the policyholder’s vehicle.

Our Methodology

Drawing from an in-depth analysis encompassing customer service ratings, product selections, pricing details, and extensive reviews from online sources, I've crafted a thorough understanding of Indiana's car insurance providers.

This perspective is shaped by my extensive career as a licensed insurance agent in Indiana, involving frequent interactions with company representatives and firsthand experience in purchasing car insurance.

61

Quotes Analyzed

15+

Years Of Industry Experience

18

Brands Reviewed

28+

Research Hours

FAQs

How much is car insurance a month in Indiana?

Monthly car insurance expenses in Indiana vary greatly, generally ranging from $150 to $300. Your driving history, the type of coverage you opt for, and the specifics of your vehicle’s make and model are influential factors in these variations.

What is the minimum car insurance one must have in Indiana?

The minimum insurance required in Indiana includes $10,000 for both Personal Injury Protection (PIP) and Property Damage Liability (PDL).

Which insurance is better in Indiana?

Selecting the best car insurance in Indiana depends on individual preferences. Auto-Owners and Indiana Farmers are favored choices due to their affordability and customer-oriented approach.

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