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Average cost of car insurance in Indiana for 2024

The average cost of car insurance in Indiana is $1,639 for full coverage and $424 for minimum coverage.

Updated Mar 14, 2024
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How much is car insurance in Indiana? 

To determine how much car insurance in Indiana is, Bankrate’s insurance editorial team — which includes licensed agents with industry experience — analyzed average rate data from Quadrant Information Services. Based on our research, the average cost of car insurance in Indiana is $1,639 per year for full coverage and $424 for minimum coverage. However, rates vary by driver based on factors like your ZIP code, credit-based insurance score, claims history, driving record and age, among other factors. Further, insurers weigh rating factors differently, so experts recommend getting quotes from several companies to find the best price for the coverage you need.

Key takeaways

  • Full coverage car insurance costs an average of $1,639 per year in Indiana, while minimum coverage is $424 per year.
  • Monthly, this works out to about $137 for full coverage and $35 for minimum coverage insurance.
  • Drivers with imperfect driving records and less-than-optimal credit will likely pay more for insurance than average.
  • Parents who add young drivers to their policies and young drivers (under age 25) with their own policies pay more for insurance than older, more experienced drivers.

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Indiana car insurance rates by city

Not only do car insurance rates vary by state, but your city is also one of the criteria that may impact your Indiana car insurance rates. Each ZIP code has its own statistical likelihood of accidents, average cost of parts and repairs and other rating factors, resulting in different car insurance rates by city. In general, bigger cities often have more expensive auto insurance premiums. This is partially because cities with a high population density have a higher risk of accidents and vehicle theft than smaller cities.

City Avg. monthly full coverage premium Avg. annual full coverage premium Avg. savings vs. state average

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Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Average car insurance costs by age and gender in Indiana

Age and gender are two factors that may affect car insurance rates in Indiana. Generally speaking, young drivers who are recently licensed pay the highest car insurance rates, as they are at a statistically higher likelihood of accidents due to a lack of experience behind the wheel. Additionally, male drivers tend to pay higher rates than female drivers because of their higher accident frequency and severity.

However, not all states use age and gender as car insurance rating factors. In Hawaii and Massachusetts, car insurance companies cannot consider your age when calculating car insurance rates. In California, Hawaii, Massachusetts, Michigan, North Carolina and Pennsylvania, gender is not a contributing factor to car insurance premiums.

The following tables show the average rates in Indiana broken down by age and gender.

Age 16*
Average annual full coverage premium in IN
$3,580
Average minimum coverage premium in IN
$1,069
Age 18
Average annual full coverage premium in IN
$5,355
Average minimum coverage premium in IN
$1,618
Age 20
Average annual full coverage premium in IN
$4,018
Average minimum coverage premium in IN
$1,070
Age 25
Average annual full coverage premium in IN
$2,151
Average minimum coverage premium in IN
$541
Age 30
Average annual full coverage premium in IN
$1,780
Average minimum coverage premium in IN
$446
Age 40
Average annual full coverage premium in IN
$1,649
Average minimum coverage premium in IN
$421
Age 50
Average annual full coverage premium in IN
$1,514
Average minimum coverage premium in IN
$396
Age 60
Average annual full coverage premium in IN
$1,475
Average minimum coverage premium in IN
$398
Age 70
Average annual full coverage premium in IN
$1,634
Average minimum coverage premium in IN
$468
Age 40
Average annual full coverage premium in IN
$1,649
Average minimum coverage premium in IN
$421
Age 50
Average annual full coverage premium in IN
$1,514
Average minimum coverage premium in IN
$396
Age 60
Average annual full coverage premium in IN
$1,475
Average minimum coverage premium in IN
$398
Age 70
Average annual full coverage premium in IN
$1,634
Average minimum coverage premium in IN
$468
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age 16*
Average annual full coverage premium in IN
$3,286
Average minimum coverage premium in IN
$1,010
Age 18
Average annual full coverage premium in IN
$4,462
Average minimum coverage premium in IN
$1,407
Age 20
Average annual full coverage premium in IN
$3,286
Average minimum coverage premium in IN
$922
Age 25
Average annual full coverage premium in IN
$1,952
Average minimum coverage premium in IN
$514
Age 30
Average annual full coverage premium in IN
$1,728
Average minimum coverage premium in IN
$446
Age 40
Average annual full coverage premium in IN
$1,628
Average minimum coverage premium in IN
$427
Age 50
Average annual full coverage premium in IN
$1,497
Average minimum coverage premium in IN
$393
Age 60
Average annual full coverage premium in IN
$1,451
Average minimum coverage premium in IN
$392
Age 70
Average annual full coverage premium in IN
$1,592
Average minimum coverage premium in IN
$450
Age 40
Average annual full coverage premium in IN
$1,628
Average minimum coverage premium in IN
$427
Age 50
Average annual full coverage premium in IN
$1,497
Average minimum coverage premium in IN
$393
Age 60
Average annual full coverage premium in IN
$1,451
Average minimum coverage premium in IN
$392
Age 70
Average annual full coverage premium in IN
$1,592
Average minimum coverage premium in IN
$450
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
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Bankrate’s take: Car insurance premiums are based on historical and statistical data. While six states don't use gender as an insurance rating factor, all other states (including Indiana) allow the use of gender in determining car insurance rates. According to the Insurance Institute for Highway Safety, men not only tend to drive more, but they are more likely to speed, drive impaired and not wear a seatbelt. These behaviors directly impact the risk and severity of accidents, resulting in increased insurance premiums for male drivers.

Cost considerations for young drivers in Indiana

Average car insurance costs in Indiana are generally the highest for young drivers. Insurers charge higher rates to offset the risk of insuring young drivers, who have less experience on the road. However, premiums can vary significantly depending on whether a young driver has their own car insurance policy or is insured on their parents’ policy. While drivers can’t purchase their own policy until they turn 18, it’s almost always cheaper for young drivers to remain on their parents’ insurance as long as they’re able.

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Age 16*
Avg. annual premium for drivers in IN
$3,433
Age 17
Avg. annual premium for drivers in IN
$3,161
Age 18
Avg. annual premium for drivers in IN
$2,931
Age 19
Avg. annual premium for drivers in IN
$2,586
Age 20
Avg. annual premium for drivers in IN
$2,503
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age 18
Avg. annual premium for drivers in IN
$4,908
Age 19
Avg. annual premium for drivers in IN
$3,905
Age 20
Avg. annual premium for drivers in IN
$3,652
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age Avg. annual premium difference for drivers on their own policy
Age 18 67 percent more
Age 19 51 percent more
Age 20 46 percent more

*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied

How does driving record impact the cost of car insurance in Indiana?

Your driving record has one of the biggest impacts on your car insurance rate. Drivers considered high-risk due to a history of speeding ticket convictions, at-fault accidents and DUI or OWI convictions often pay much higher rates for car insurance coverage. The table here outlines the average car insurance rates in IN for certain violations and how these rates compare to the average rate for a clean record.

Clean driving record
Avg. annual premium* in IN
$1,639
Percentage increase from IN avg. annual premium*
0%
Avg. annual premium* in IN
$2,016
Percentage increase from IN avg. annual premium*
23%
Avg. annual premium* in IN
$2,331
Percentage increase from IN avg. annual premium*
42%
Avg. annual premium* in IN
$3,012
Percentage increase from IN avg. annual premium*
84%
*The rates reflected are for full coverage policies.

Car insurance rates in Indiana by credit score

Car insurance companies are allowed to use credit-based insurance scores to help determine car insurance rates in every state except California, Hawaii, Massachusetts and Michigan. That means car insurance companies in Indiana may check your credit when calculating your rate and base your premiums, in part, on your payment and credit history. Based on our analysis, drivers with poor credit in Indiana pay the highest average rates, while drivers with excellent credit pay the lowest average rates.

Avg. annual premium* in IN
$3,034
Percentage difference from IN avg. annual premium*
85%
Average
Avg. annual premium* in IN
$1,796
Percentage difference from IN avg. annual premium*
10%
Avg. annual premium* in IN
$1,639
Percentage difference from IN avg. annual premium*
0%
Excellent
Avg. annual premium* in IN
$1,368
Percentage difference from IN avg. annual premium*
-17%
*Rates reflect full coverage policies.

Indiana car insurance rates by vehicle type

When you apply for a car insurance policy, you will be asked to provide the make and model of your vehicle and/or the VIN. The type of car you have will generally impact the cost of your insurance. To give you an idea of what you might pay for insurance based on your vehicle type, we’ve included average rates for several popular cars in the table.

Avg. annual premium* in IN
$1,639
Avg. annual premium* in IN
$1,528
Avg. annual premium* in IN
$1,409
BMW 330i
Avg. annual premium* in IN
$2,027
Toyota Prius
Avg. annual premium* in IN
$1,641
*Rates reflect full coverage policies.

Estimate your car insurance cost in Indiana

With so many factors and decisions involved in selecting a car insurance policy, estimating what you can expect to pay for coverage can be a great place to start your search. To make it easy, Bankrate created the estimation calculator tool below. After entering some basic information, you'll see a rough insurance premium estimate. While this is not an exact quote, it can give you a good idea so you can budget accordingly.

Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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How to save on car insurance in Indiana

Car insurance rates are different for every driver, and some people pay higher rates than others. Fortunately, there are many ways to potentially get a lower premium. Here are a few suggestions for getting cheaper car insurance in Indiana:

  • Look for discounts: Many car insurance companies in Indiana offer discounts. Some of the most common discounts include savings for getting good grades, not submitting claims, taking a defensive driver course and insuring a vehicle with certain safety features.
  • Improve your credit: In Indiana, car insurance companies can use your credit-based insurance score to determine your rate. Improving your credit may help you save money on your policy.
  • Raise your deductibles: Some car insurance coverage options, like collision insurance, require you to pay a deductible when you have a claim. Choosing a higher deductible can help lower your monthly rate but will cost you more out of pocket if you file a claim for a covered incident.
  • Shop around: Comparing car insurance quotes from a few companies can help you find the most affordable rate for your situation. You can also get new quotes from other car insurance companies every year or after a major event, like getting into an accident, to compare your options and ensure your rate remains low.
  • Pay in full: Most car insurance companies in Indiana will offer a discount on your car insurance premium if you pay up front and in full for your six- or 12-month policy premium. You might also be able to get a discount for enrolling in automatic payments.

Frequently asked questions

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Methodology 

Bankrate utilizes Quadrant Information Services to analyze the latest rates in February 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate changes filed by insurance companies that affect our profile. These revised rates are then weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Credit-based insurance scores: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Model: To determine cost by vehicle type, we evaluated our base profile with the following vehicles applied: BMW 330i, Ford F-150, Honda Odyssey, Toyota Prius and Toyota Camry (base).

Age: Rates were calculated by evaluating our base profile with the ages 16-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Gender: The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, North Carolina, Pennsylvania.

Teens: Rates were determined by adding a 16- or 17-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy unless otherwise noted.

Written by
Shannon Martin
Writer, Insurance

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute