Cheapest Car Insurance Rates in 2023
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Cheap SR 22 Auto Insurance in Indiana: Best Companies & SR50 Quotes
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Tyron Jones is a finance expert who has operated within the auto insurance business for more than 10 years. He has written many other finance related articles for a number of prominent publications.
Best Car Insurance Companies in Indiana
- State Farm
- Auto Owners Insurance
- Farmers Insurance
|State Farm||Erie||USAA||Geico||Auto Owners Insurance||Farmers Insurance|
|AM Best Financial Strength Rating||A++||A+||A++||A++||A++||A+|
|JD Power 2019 Overall Customer Satisfaction score||3/5||5/5||4/5||3/5||3/5||4/5|
|Avg Annual Premium||$551||$499||$374||$488||$707||$771|
|Consumer Reports Reader Score||78||86||92||78||N/A||72|
|BBB Rating||A+||A+||Not Rated||A+||A+||A+|
Auto Insurance Statistics in Indiana
Top 10 Cheapest Car Insurance Companies in Indiana
|Rank||Company Name||Avg. Annual Premium|
|10||Hastings Mutual Insurance Co||$1,173|
Drunk Driving Fatalities
Every year, drunk drivers cause accidents on the road, and in some cases, these accidents end up being fatal. The National Highway Traffic Safety Administration has done a tally of the number of drunk driving fatalities in Indiana vs. nationwide.
Drunk driving fatalities in Indiana from 2013 to 2017
Teen Drinking and Driving
Teen drinking and driving in Indiana has been relatively low when compared with the national average. It is important to warn teen drivers about the dangers of drinking while driving.
The below statistics represent the percentage of Indiana drivers that are teenagers who are drinking and driving when compared with national averages.
Teen Drinking & Driving in Indiana vs. Nationwide (2017)
SR-22 Insurance in Indiana
In Indiana, officials sometimes refer to an SR-22 as a ‘proof of financial responsibility' document. The reason behind this is that an SR-22 form provides the state DMV with financial assurances that you will be able to pay any issues that stem from an accident. You will need one of these insurance policies to reinstate your license after various types of infractions.
Indiana has similar coverage requirements to many other states in the US. You will be required to have property coverage damage of $10,000, bodily injury coverage of $25,000 (for one person), and bodily injury coverage of $50,000 (for multiple people). The insurance provider will provide direct verification of whether or not you have this insurance, so there's no way of getting around this requirement.
Car Theft in Indiana
Car theft in Indiana has been relatively similar to the rates of car theft across the country. When selecting car insurance, it helps to consider the number of vehicle thefts locally to see if you should invest in comprehensive car insurance coverage. Comprehensive insurance in Indiana is the best option when you want to make sure that your vehicle is protected.
Vehicle thefts by rank nationwide vs. Indiana
Uninsured Motorists in Indiana
Driving without uninsured and underinsured motorist coverage is risky because not every driver in the state of Indiana carries insurance on their vehicles. To lower your level of risk while driving, it is recommended to get uninsured and underinsured motorist coverage. The below data shows how well Indiana ranks in the total number of reported uninsured motorists in the state in the year 2015.
Percentage of uninsured drivers (Top 10 States in 2015)
Source: Insurance Information Institute
Best Insurance Companies
Living in Indiana means you have dozens of insurance agencies at your beck and call. They all offer you a different rate, different features, and a number of other considerations. National statistics tell us it’s the best car insurance companies such as Erie Insurance, Indiana Farm Bureau, Farmers, Wolverine Mutual, and Hastings Mutual that have the lowest rates to offer their customers. Keep in mind most people have different life situations to consider, so these companies might not offer you the same low rates they’re offering to other drivers.
Factors Used to Consider Insurance Premiums
All insurance companies have a list of factors they use to determine what you qualify for in terms of insurance rates. These factors are considered for all applicants, but the personal aspect of each is what drives the price of your insurance premium.
- Credit history
- Driving history
- Type of vehicle you drive
If you want the lowest rates for insurance, you need a clean credit history, a clean driving record, and you should live in an area with a low crime rate not situated near a major highway or any other high-crime location. You should work in a profession that’s not dangerous, doesn’t require you spend much time on the road, and doesn’t put your life at risk.
You should also drive a newer vehicle with a larger size, but one that has a smaller engine is the least expensive to insure with almost all companies. You should also have multiple cars on one policy and bundle all policies to receive the biggest discounts. Be sure to do a home and auto insurance bundle comparison to locate the best rates.
How to Lower Your Rate
If you feel you need a lower rate for your insurance, call your insurance company to see if you can get a lower rate. If you’ve been a long-time customer with a clean driving record, there’s no reason your insurance company shouldn’t want to work with you to provide a lower rate. You can do this simply, or you can inform them in your politest voice you are planning on looking for a new insurance policy with a new company. This often makes your company want to work with you due to the threat of leaving.
You can compare rates at a few companies and call yours first to tell them what you’re being offered elsewhere. You should also mention if you belong to any professional organizations such as AAA Car Insurance that offer discount car insurance. Another way to lower your rate is to let the insurance company know if there are any major life changes in your life. If you got married, you can get a discount on your policy. If you are a young man who recently turned 25, you might qualify for a discount because of your age. It’s helpful to ask for as many discounts as possible
All Indiana insurance companies work to find the best customers, so they’re going to check your credit and driving record. You can change those things. You can only do better from this point forward and hope it helps in the future.
Your insurance is necessary, but that doesn’t mean it needs to be unaffordable. Do your homework to find out which companies are least expensive in and around your Indiana city and follow up with a few to see if they can offer you a lower rate. It’s the simplest things that often have the biggest impact on your financial future.
Types of Auto Insurance Coverage in Indiana:
- Comprehensive Insurance Coverage
- Bodily Injury Liability Insurance
- Uninsured/Underinsured Motorist Bodily Injury Insurance
- Uninsured Motorist Property Damage Insurance
- Property Damage Liability Insurance
Minimum Requirements For Car Insurance in Indiana
There are minimum requirements for car insurance in the state of Indiana. According to the Indiana Department of Insurance, it is mandatory to have at least liability coverage as well as uninsured/underinsured motorist coverage, however, the latter can be refused in writing.
Liability Coverage minimums for the state of Indiana:
- $10,000 for property damage
- $25,000 per single bodily injury or death
- $50,000 per multiple bodily injury or deaths
Source: Department of Insurance
New Driver License Requirements in Indiana
New Driver Licensing Requirements
In Indiana, new drivers must obtain a drivers license in a timeframe of 60 days after becoming a resident of the state. New drivers who don’t have any other out of state licenses will need to apply for a learner’s permit so that they can drive. The stipulations to obtain a learner’s permit include that the driver must be 15 years old, complete a driver education course, and pass a knowledge and vision test.
Cheap Auto Insurance Discounts
CheapAutoInsurance.co has a singular goal of helping you save on the amount of your auto insurance premiums each month. That is why we have compiled a list of the best possible car insurance discounts available with your local insurance company. The discounts listed below will help you to save even more money each month on your car insurance rates.
- Anti-theft discount
- Mature driver discount
- Military or Veteran discount
- Bundling insurance policies discount
- Senior citizen discount
- Car safety features discount
- Good student discount
- Defensive driving discount
- Low-mileage discount
- Multi-car auto insurance discount
- Infrequent usage discount
General Auto Insurance Information
In this section, you will find frequently asked questions pertaining to general auto insurance questions.
What type of auto insurance protection is required in Indiana?
What is the state minimum coverage for auto insurance in Indiana?
Who must have auto insurance in Indiana?
What is the best car insurance in Indiana?
When should I add my child to my car insurance in Indiana?
How do you get car insurance in Indiana for a vehicle?
In Indiana, how long do I have to get auto insurance when I buy a new car?
When do you need to add a teenager to my car insurance in Indiana?
How long does a DUI stay on your car insurance in Indiana?
What is an auto insurance company responsible for in Indiana?
What is the type of insurance you have to have when leasing a car in Indiana?
How long do you have to tell insurance company about a new car in Indiana?
What is Indiana minimum for property damage on car insurance?
How long do you have to switch insurance after buying a car in Indiana?
What does an Indiana car insurance policy number consist of?
Who regulates car insurance companies in Indiana?
How long does an auto insurance company in Indiana have to authorize body repairs?
Who is the number one rated car and home insurance company in Indiana?
How long to get insurance on used car in Indiana?
How to become an auto insurance agent in Indiana?
Where to fax proof of auto insurance in Indiana?
In Indiana, do we add a child to car insurance when they get their license?
How much is car insurance with SR22 in Indiana?
How long do I have until I can get sued by a debt collector over a car insurance wreck in Indiana?
In an Indiana divorce, who pays car insurance?
How to get motorcycle insurance without a license?
Auto Insurance Prices in Indiana
In this section, you will find frequently asked questions regarding the price of auto insurance in Indiana.
How much is car insurance in Indiana?
Who has the cheapest car insurance in Indiana?
How much is full coverage car insurance in Indiana?
How much is car insurance per month in Indiana?
Who has the best auto insurance rates in Indiana?
How much is car insurance for a 16 year old in Indiana?
Who has the cheapest car insurance in Northwest Indiana?
How much is car insurance for a 19 year old per month in Indiana?
How much is car insurance in Gary, Indiana?
How do Indiana and Illinois compare for auto insurance?
Auto Insurance Coverage in Indiana
In this section, you will find frequently asked questions regarding general auto insurance coverage questions in Indiana.
What is considered full coverage auto insurance in Indiana?
What car insurance coverage is required in the state of Indiana?
How much liability car insurance do I need in Indiana?
How long should you keep auto insurance policies in Indiana?
When purchasing a car from a dealer in Indiana what are the terms for full coverage insurance?
Lack of Auto Insurance in Indiana
In this section, you will find commonly asked questions pertaining what occurs when drivers lack car insurance in the state of Indiana.
What happens if you hit a car and you have no insurance in Indiana?
How long will your license be suspended in Indiana for a car accident without insurance?
What happens if you don’t have car insurance in Indiana?
What is Indiana law for car repossession for lack of auto insurance?
How can they tell if you have no insurance coverage in Indiana for your car?
What if I’m hit in a car accident and I don’t have insurance in Indiana?
What happens when your high risk car insurance lapses in Indiana?
Auto Insurance Claims
In this section, you will find common Indiana auto insurance claims questions that most insurance companies in Indiana must cover.