- Cheapest Car Insurance Companies In Indiana
- What Is The Average Cost Of Car Insurance In Indiana?
- Annual Indiana Car Insurance Estimates By Age
- Annual Indiana Car Insurance Estimates By Gender
- Annual Indiana Car Insurance Estimates For Drivers With Bad Credit
- Annual Indiana Car Insurance Estimates For Bad Drivers
- Best Car Insurance In Indiana
- #1 Geico: First Choice For Indiana Car Insurance
- Geico Pros and Cons
- #2 Erie: Cheapest Car Insurance In Indiana
- Erie Pros and Cons
- #3 USAA: Best For Military
- USAA Pros and Cons
- #4 Country Financial: Excellent Local Service In Indiana
- #5 Farmers: Good For Seniors
- Indiana Car Insurance Requirements
- Indiana Driver Statistics
- What Affects Indiana Car Insurance Rates?
- Can You Drive Without Car Insurance In Indiana?
- How Much Is SR-22 Insurance In Indiana?
- Final Thoughts On Car Insurance In Indiana
You can find cheap rates on auto insurance in Indiana, but you have to know where to look
Shopping for car insurance in Indiana can feel like wading through a minefield of high rates and hazy coverage options. Some companies aren’t very clear about what they offer, while others are upfront about what you get when you buy their policies. The good thing is that drivers in Indiana can take advantage of some of the lowest rates and cheapest auto insurance in the nation.
We’ve compared the best car insurance companies on things like price, availability, customer service, and financial strength. Our first choice for Indiana car insurance is Geico, while our runner-up picks are Erie Insurance, USAA, Country Financial, and Farmers. Read on to learn more about coverage and minimum requirements in the Hoosier State.
To collect and compare quotes from providers available in your state, use the tool below:
Cheapest Car Insurance Companies In Indiana
The cheapest car insurance in Indiana is USAA, according to our full coverage rate estimates. Good drivers may pay about $695 per year with the company. Other cheap options include Geico, State Farm, Erie, and Progressive.
Car Insurance ProviderAverage Annual Cost EstimateUSAA$695Geico$810State Farm$922Erie$1,006Progressive$1,054
What Is The Average Cost Of Car Insurance In Indiana?
Even with a high number of miles per driver, car insurance in Indiana is still affordable when compared to other states. According to the National Association of Insurance Commissioners, the national average car insurance expenditure was $1,057 per year in 2018. Drivers in Indiana only paid an average of $768, making it the ninth cheapest state for car insurance in the U.S. That’s a significant amount of savings.
Type of CoverageAverage Annual Expenditure in 2018Liability coverage$443Collision coverage$286Comprehensive coverage$136Total cost$768
*To calculate average expenditures, NAIC assumed that all insured vehicles would carry liability coverage but not necessarily collision or comprehensive. Total cost per year measures what consumers actually spent.
Keep in mind that not all drivers purchased the same types of Indiana car insurance, and some purchased more than the state minimum.
Annual Indiana Car Insurance Estimates By Age
According to our rate estimates, a 24-year-old may pay 39 percent more for car insurance in Indiana than a 35-year-old.
AgeIndiana Annual Car Insurance24$1,53535$1,106
Annual Indiana Car Insurance Estimates By Gender
Men pay about two percent more for full coverage car insurance in Indiana than women.
GenderIndiana Annual Car InsuranceFemale$1,095Male$1,117
Annual Indiana Car Insurance Estimates For Drivers With Bad Credit
A bad credit score can increase your rates in Indiana. According to our estimates, drivers with fair credit pay about 23 percent more, and drivers with poor credit pay about 82 percent more.
Credit RatingIndiana Annual Car InsuranceGood$1,106Fair$1,358Poor$2,013
Annual Indiana Car Insurance Estimates For Bad Drivers
Your driving record has a big impact on prices for car insurance in Indiana. A speeding ticket can increase your rates by 34 percent, an accident by 54 percent, and a DUI by 63 percent.
Driving RecordIndiana Annual Car InsuranceClean$1,106Speeding Ticket$1,490At-Fault Accident$1,712DUI$1,803
Best Car Insurance In Indiana
To find the best car insurance in Indiana, we sorted through our top providers list and re-examined these companies in light of Indiana laws. We also considered Indiana driver satisfaction scores according to the J.D. Power 2020 U.S. Auto Insurance Satisfaction StudySM. Here is what we found.
Best Indiana Car InsuranceMotor1 RatingAverage Annual Cost1. Geico Car Insurance4.6$8092. Erie Car Insurance4.5$1,0033. USAA Auto Insurance4.8$6954. Country Financial Auto Insurance4.2N/A5. Farmers Insurance4.4N/A
*Not all companies were included in our rate estimates for each state. Also, you may notice that some car insurance companies are listed above those with higher star ratings. This is because our ratings take into account nationwide factors, while our ranking for this article looks specifically at what insurance providers are best for auto insurance in Indiana.
#1 Geico: First Choice For Indiana Car Insurance
We think Geico car insurance is the best choice overall for Indiana car insurance. With Geico, many people find rates that are below the state average, plus the company offers a good number of perks and car insurance discounts.
Geico stands for Government Employees Insurance Company. While Geico insures more than just government workers today, the company still gives a discount to federal employees. Geico has the highest financial rating from AM Best, which means the company can manage its assets and can easily handle claims. Geico also has an A+ rating from the Better Business Bureau (BBB).
Speaking of claims, Geico scored 837 out of a possible 1,000 points in the J.D. Power 2021 U.S. Auto Insurance StudySM for the North Central region (which includes Illinois, Indiana, Michigan, Ohio, and Wisconsin). This put Geico just below the average of 839 points.
If you’ve just purchased a new car, you can take advantage of Geico’s mechanical breakdown insurance when you purchase car insurance in Indiana. This program is similar to an extended car warranty, and it covers the failure of mechanical parts in your car.
Drivers in Indiana can also get the DriveEasy app. This is Geico’s usage-based program that offers discounts according to your driving skills.
Geico Pros and Cons
#2 Erie: Cheapest Car Insurance In Indiana
Erie was founded in 1925, and it currently offers Insurance in the District of Columbia and 12 states. Erie has a financial rating of A+ from AM Best and an A+ rating from the BBB.
The company really shines in its shopping experience. According to survey participants in J.D. Power’s 2021 U.S. Auto Insurance Satisfaction StudySM, Erie offers easy claims filing, excellent policy offerings, and a low price. Erie ranked third for midsize insurers.
Perks to Indiana car insurance with Erie include:
- Pet insurance: Covers up to $500 per pet ($1,000 total for multiple pets) when an insured driver’s pet is injured in an accident
- Auto glass repair: Waives the deductible for glass repair or replacement and includes wiper blades
- Personal item coverage: Covers up to $350 of personal items damaged from an accident
- Erie Auto Plus: Boosts coverage to include things like a diminishing deductible, $10,000 death benefit, extra transportation expense coverage, and increased limits for locksmith costs
Erie doesn’t have a usage-based option for car insurance in Indiana. But, it does have a mobile app that allows you to view your insurance card and view your claim status.
Erie Pros and Cons
Erie ProsErie ConsA+ rating from the BBB and A+ rating in financial strength from AM BestMixed customer service reviews during claims processHigh customer satisfactionComprehensive coverage optionsVariety of auto insurance discounts
#3 USAA: Best For Military
USAA auto insurance is only available to military members and their families, so a USAA policy is not an option for everyone. Those who are eligible should consider this provider because of its low cost, high customer satisfaction, and comprehensive coverage options. We think USAA is an excellent choice for drivers in most states, and one of our top choices for car insurance in Indiana.
In the J.D. Power 2021 U.S. Auto Insurance Study, USAA scored a total of 895 out of 1,000 points for the North Central region. This made USAA the highest-scoring provider in the area, though it was not eligible to rank because it is not available to all drivers.
USAA scores well in other rankings too. In addition to earning 4.8 out of 5.0 stars in our USAA auto insurance review, the company holds an A++ (Superior) financial strength rating from AM Best.
With USAA, Indiana drivers can find all types of coverage from the minimum required coverage to comprehensive, full-coverage policies. In addition to standard auto insurance, USAA offers:
- Guaranteed asset protection (GAP): If you finance a vehicle, this protection covers the difference between what the car is worth versus what is owed should your vehicle be declared a total loss after an accident.
- Car replacement assistance (CRA): The biggest difference between this plan and GAP insurance is that CRA pays 20 percent more than the actual cash value of your vehicle.
Filing claims with USAA is simple using the USAA mobile app. Customers can take pictures of damages and may be able to receive claims authorization without needing to schedule an inspection. Drivers can choose their choice of mechanic for repairs.
USAA Pros and Cons
#4 Country Financial: Excellent Local Service In Indiana
Country Financial is a mid-sized insurance provider only available in a handful of states. One of these states is Indiana, where the company has a positive reputation for customer satisfaction. It ranked well in the North Central Region in J.D. Power’s 2021 U.S. Auto Insurance Study, scoring 850 out of a possible 1,000 points.
Country Financial earns high marks from us too. We rated the company 4.2 out of 5.0 stars in our Country Financial auto insurance review. While it is not accredited by the BBB, Country Financial holds an A+ rating.
Indiana drivers are able to purchase minimum or full-coverage policies, including:
- Standard coverage
- Safety glass coverage
- Personal effects coverage
- Umbrella insurance policies
For car insurance in Indiana, Country Financial may offer the cheapest options for drivers eligible for a wide range of potential discounts, such as:
- Advance quote discount: Up to 12 percent off when you get a quote while your policy is still active
- Good driver discount: Up to 26 percent off for safe drivers with no accidents or tickets in the last three years
- Simply Drive? discount: A safety course for young drivers that provides up to 10 percent off
- Engaged couple discount: Up to 24 percent off for couples engaged to be married within one year
- Legacy discount: Up to 25 percent off for children under 25 if parents qualify for a multi-car and multi-policy discount
Occupation discount: Up to 10 percent off for K-12 teachers, firefighters, police officers, EMTs, and paramedics
Country Financial ProsCountry Financial ConsSeveral coverage options and discountsMay not offer cheapest coverage options for everyonePositive customer services reviews from drivers in IndianaComprehensive coverage optionsA+ rating from the BBB
#5 Farmers: Good For Seniors
Farmers ranked well in our Farmers insurance review because of its strong customer service reputation, discount opportunities, and comprehensive coverage options. Farmers is also rated highly by the BBB, where it holds an A- rating due to its established reputation, transparency, and dedication to addressing customer concerns.
In addition to offering standard coverage options like liability and comprehensive insurance for Indiana drivers, Farmers also sells:
- New car replacement
- Accident forgiveness insurance
- Custom equipment protection
- Original equipment manufacturer (OEM) parts
- Loss of use coverage
- Guaranteed Value™
- Towing and roadside service
- Rideshare coverage
- Personal umbrella insurance
- Glass and windshield coverage
Farmers policies are made more affordable by a number of discount opportunities, including savings for good drivers, homeowners, good students, certain occupations, and those with vehicle safety features. We think that Farmers is an especially good choice for car insurance in Indiana for older drivers, who may be able to find the cheapest auto insurance coverage with this provider.
Farmes ProsFarmers ConsGood selection of coverage add-ons in all 50 statesCustomer complaints about high premiums, roadside assistance availability, and rental car optionsDiscount opportunities for good driversAverage customer serviceExcellent financial strength rating and A- rating from the BBBHighly-rated apps
Receive free, personalized quotes for Indiana car insurance by entering your zip code below.
Indiana Car Insurance Requirements
Indiana requires car insurance minimums that are similar to many other states. In Indiana, your policy has to cover liability insurance in the amounts of 25/50/25. Here’s what that looks like:
- Bodily injury per person: $25,000
- Bodily injury per accident: $50,000
- Property damage: $25,000
Bodily injury liability covers medical bills, lost wages, and death benefits for other people in accidents that you cause. Property damage covers repairs to other people’s vehicles and property in accidents that you cause.
This is the minimum coverage required under Indiana’s financial responsibility laws. All states have some form of these laws to protect accident victims. These exact coverage minimums are shared by many other states, but remember that they are meant to be a safety net. State-required insurance doesn’t usually protect drivers from catastrophic or multi-car accidents.
Indiana also requires insurance carriers to include underinsured and uninsured motorist coverage on new policies unless the coverage is rejected in writing. You do have an alternative to purchasing car insurance in Indiana. Instead of insurance, you can post a bond or deposit cash with the Bureau of Motor Vehicles in the amount of $40,000. However, if you don’t have $40,000 lying around, we’d suggest you purchase an Indiana car insurance policy.
Indiana Driver Statistics
Total Licensed Drivers3,976,241Vehicle Miles per Licensed Driver17,821National Vehicle Miles per Licensed Driver14,425Total Collisions217,077Property Damage Only183,905Non-Fatal Injury32,383Fatal Collisions789Auto Fatality Rate1.05 deaths per 100 million milesNational Auto Fatality Rate1.13 deaths per 100 million miles
*Most drivers carry liability coverage but not necessarily other types of auto insurance. Total average annual expenditure measures what Indiana drivers actually spent on auto insurance in 2017.
As you can see, drivers in Indiana drive a few more miles per year than the national average. On the other hand, the state’s car accident fatality rate is slightly less than the national average, which is 1.13 deaths per 100 million miles. The state’s fatality rate decreased in 2018, but it had been on the rise from 2009 all the way through 2017.
What Affects Indiana Car Insurance Rates?
So what makes you a prime insurance candidate? Well, car insurance quotes are tailored to you. If you have the following qualities, you should find the best rates on Indiana car insurance:
- You are between the ages of 30 and 65.
- If you have a new car, it is a van or family-oriented SUV.
- You have good credit.
- You have a clean driving record with no recent claims.
- You live in a suburban zip code.
- You put fewer miles on your car than the state average.
Some of these things are easier to control than others, and some are impossible to control. You can work on your credit, but you can’t pick your age. To find the best Indiana auto insurance rates, you should get quotes from at least three different providers. You should also reassess your situation when it is time to renew your policy and shop around at those times as well.
Even if you’ve been with the same company for a long time, don’t assume that you have the best rates. You can always shop around for car insurance without letting your agent know about it. Also, telling your agent you are considering swapping providers might prompt them to see if they can get you a lower quote.
Can You Drive Without Car Insurance In Indiana?
Almost one in five drivers in Indiana goes without car insurance, according to the Insurance Information Institute. That means if you get hit by another driver, there’s a good chance that you will have to cover the damages with your own insurance. That’s why many drivers purchase uninsured motorist coverage.
Some people choose to drive without insurance in spite of the penalties. Indiana law can require uninsured drivers to pay hefty fines if they are caught. Uninsured drivers can also have their licenses suspended for three to twelve months, so we recommend purchasing an Indiana car insurance policy.
How Much Is SR-22 Insurance In Indiana?
SR-22 insurance rates are more expensive than regular rates. The exact amount varies depending on why you need an SR-22, but you can expect to pay around $300 to $600 more per year for Indiana car insurance if you’ve filed an SR-22.
It’s not the SR-22 that is expensive – it’s the violation that necessitated the SR-22. In Indiana, you can be required to file an SR-22 form if your license is suspended for convictions like reckless driving, a DUI, or a hit and run. Filing the form costs around $25, but the violation will make your rates go up.
Final Thoughts On Car Insurance In Indiana
Ultimately, the provider you select should be the one that’s best for your individual needs. Though our top recommendations for car insurance in Indiana are Geico, Erie, USAA, Country Financial, and Farmers, we recommend getting car insurance quotes from several different companies.
Methodology
Our expert review team takes satisfaction in providing accurate and unbiased information. We identified the following rating categories based on consumer survey data and conducted extensive research to formulate rankings of the best car insurance providers.
- Affordability: A variety of factors influence cost, so it can be difficult to compare quotes between providers. Our team considers auto insurance rate estimates generated by Quadrant Information Services and discount opportunities when giving this score.
- Coverage: Because each consumer has unique needs, it’s essential that a car insurance company offers an array of coverage options. We take into account types of insurance available, maximum coverage limits, and add-on policies.
- Industry Standing: Our team considers Better Business Bureau (BBB) ratings, financial strength, and years in business when giving this score.
- Availability: Auto insurers with greater state availability and few eligibility requirements are more likely to meet consumer needs.
- Customer Service: Reputable car insurance providers operate with a certain degree of care for consumers. We consider complaints filed with the National Association of Insurance Commissioners (NAIC), J.D. Power claims servicing scores, and customer feedback.
- Online Experience: Insurers with easy-to-use websites and highly rated mobile apps scored best in this category.
Keyword: 5 Best Cheap Car Insurance Companies: Indiana (2022)