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Cheapest car insurance in Indiana for 2024

Our comprehensive study shows that Auto-Owners, Pekin and Grange could be the cheapest car insurance companies in Indiana for a variety of drivers.

Updated Feb 01, 2024
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The cheapest car insurance companies in Indiana

According to Bankrate’s analysis, Auto-Owners, Pekin and Grange are some of the cheapest car insurance companies in Indiana. To determine your premium, insurers look at more than a dozen personal rating factors, such as your age, gender and driving history. The amount of coverage you want to purchase will also play a major role.

To help drivers in Indiana find the cheapest coverage, Bankrate used premium data from analytics provider Quadrant Information Services to curate some of the most affordable car insurance in the state for different driver circumstances.

Key takeaways

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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.

Cheapest car insurance in Indiana for minimum coverage

According to our research, the average annual cost of a minimum coverage car insurance policy in Indiana is $424 per year. However, price may not be your only consideration when shopping for liability-only coverage. Your carrier choice may also depend on your digital tool needs and customer satisfaction priorities. 

Our findings show that you might find cheap car insurance in Indiana by shopping with Auto-Owners, Pekin and Grange. 

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$21
$246
- $178
Pekin
$22
$259
- $165
$23
$270
- $154
Hastings Mutual
$24
$293
- $131
$25
$295
- $129

Minimum coverage requirements for Indiana drivers

According to Indiana’s car insurance laws, every driver must carry at least a minimum amount of car insurance liability coverage to satisfy the state’s financial responsibility law. The minimum coverage requirements are as follows:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 for property damage liability per accident

Indiana car insurance companies must all offer all drivers uninsured motorist coverage and underinsured motorist coverage with a minimum limit of $50,000. Drivers who wish to decline this coverage must do so in writing.

Although a minimum coverage policy could provide cheap Indiana car insurance that satisfies state insurance requirements, insurance experts often encourage drivers to consider opting for higher liability limits for greater financial protection. Minimum coverage may leave you with high out-of-pocket costs if you cause an accident. Additionally, minimum coverage does not offer any protection for damages to your vehicle — you need comprehensive and collision for that (otherwise known as full coverage). If you lease or finance your vehicle, a full coverage policy is typically required by your lender or leasing company.

Cheapest car insurance in Indiana for full coverage

Based on average rates, Hastings Mutual and Encompass provide some of the cheapest car insurance in Indiana for full coverage. Full coverage car insurance typically includes collision and comprehensive coverage, which provide physical damage coverage for your own vehicle in the event of an at-fault accident or other covered incident. Most insurance experts recommend carrying full coverage car insurance if you can afford to do so, and you may be required to carry full coverage if you lease or finance your vehicle.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
Hastings Mutual
$73
$872
- $767
$88
$1,056
- $583
$93
$1,121
- $518
Pekin
$98
$1,178
- $461
$101
$1,211
- $428

Cheapest car insurance in Indiana for drivers with prior incidents

Several factors, including driving record, impact auto insurance rates. Drivers with traffic violations in the last three to five years tend to see higher car insurance rates. However, not all insurance companies assign equal weight to driving incidents, so it may be possible to find cheap auto insurance in Indiana even with a mark or two on your record. 

Cheapest insurance companies for drivers in Indiana with a speeding ticket: Auto-Owners

A speeding ticket conviction in Indiana will generally raise your insurance rate, as speeding may lead to costly claims and is typically seen as a high-risk behavior by insurers. Depending on the severity and your carrier, a speeding ticket will typically only impact your insurance rates for three to five years, but as you can see below, you may be able to save by shopping around.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$305
$1,355
Pekin
$324
$1,441
$347
$1,217
$369
$1,607
$381
$1,634

Cheapest car insurance for drivers in Indiana with an at-fault accident: Hastings Mutual

Unless you have accident forgiveness coverage, causing a collision will generally drive up your cost of car insurance. After an at-fault accident, your insurance premium will likely increase for three to five years (depending on the circumstances surrounding the collision). Minor collisions may have a smaller impact on rates, whereas more serious incidents might cause your premium to increase more drastically.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
Hastings Mutual
$300
$892
$347
$1,432
Pekin
$347
$1,544
$372
$1,675
$406
$1,422

Cheapest rates in Indiana for high-risk drivers: Progressive

Certain events may cause your insurance company to put you in the “high-risk driver” category. These events may include a DUI conviction. After a DUI, you might have to purchase car insurance from a non-standard carrier, particularly if you need to obtain an SR-22 or similar type of form. These policies are typically more expensive than coverage offered by standard auto insurers. It may still be possible to find low-cost car insurance in Indiana with a DUI by shopping with some of the companies below. However, it is important to note that carriers may choose to decline coverage depending on the circumstances of your violation.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$389
$1,478
$462
$2,191
$474
$2,043
Pekin
$509
$2,139
$568
$2,315
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Bankrate’s take: Car insurance companies operate at their own discretion regarding who they offer coverage to, and some companies may refuse coverage to drivers with DUIs on their record. DUIs are typically seen as indicators of high-risk behavior, and some companies may be unwilling to take on the risk of insuring you. Seeking out a personalized quote with your individual driving record information may be the fastest way to see if you could qualify for coverage with a particular carrier after a DUI.

Cheapest car insurance for young drivers in Indiana

Indiana car insurance companies can consider your age when determining rates. Generally, the younger a driver is, the less experienced they are, and the more risk they pose to insure. Riskier drivers are typically charged higher premiums to compensate. However, shopping around and looking for young driver discounts may help less experienced drivers save on their premiums. 

Cheapest Indiana car insurance for insuring a teen driver: Pekin

If you add a teen driver to your policy, you can usually expect your premium to increase. Although insurance companies typically charge higher premiums for teen drivers to offset the risk of claims, most also offer discounts specifically geared for young drivers, such as savings for good grades and students living away from home at college without a vehicle.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
Pekin
$598
$2,021
$689
$1,956
$769
$4,536
$782
$2,969
$788
$2,536
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Bankrate’s take: Teen drivers have a crash rate nearly three times higher than the rate for drivers ages 20 and older. Many teens also speed and engage in distracted driving. These factors lead most insurance companies to charge significantly higher car insurance rates for young drivers, even if they're added to their parents' policy.

Cheapest Indiana car insurance for teens with a ticket: USAA

Speeding ticket convictions may drive up already costly teen car insurance rates. If your teen has a speeding ticket conviction, shopping around may help you bring down the cost of coverage.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$913
$3,685
Indiana Farmers
$986
$3,228
$1,015
$3,552
$1,123
$3,398
$1,167
$4,343

Cheapest Indiana car insurance for teens with an at-fault accident: Indiana Farmers

For teen drivers, an at-fault accident may compound already steep rates. The following table highlights average rates for an 18-year-old driver in Indiana with an at-fault accident on their record:

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,019
$4,023
Hastings Mutual
$1,104
$3,174
$1,153
$3,786
Indiana Farmers
$1,165
$3,262
$1,186
$3,579
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Bankrate’s take: Some insurance companies offer accident forgiveness coverage to potentially avoid a rate surcharge following your fist at-fault accident. However, this endorsement must usually be added to your policy before the accident occurs. Additionally, while some carriers may allow anyone to purchase this coverage, some may require you to earn it with a set number of accident-free driving years.

Cheapest Indiana car insurance for young drivers with a DUI: Indiana Farmers Insurance

Young drivers with DUIs are typically seen as some of the riskiest individuals to insure. As a result, most carriers charge steep rates for these drivers, if they're willing to insure them at all. You may have to compare many quotes to find a carrier that offers the coverage you need at a premium you can afford. Below you can see companies that offer some of the cheapest average rates for a 21-year-old driver with a DUI conviction.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$645
$2,552
$816
$3,388
$822
$3,359
$961
$6,273
$966
$4,284

Cheapest car insurance rates by city in Indiana

If you’re thinking about moving, it may also be a good time to shop for new car insurance; your ZIP code can have a big impact on your average premium. For instance, insurance premiums may be generally higher in areas that have a more expensive cost of living, or have higher incidence of vehicle theft, vandalism or other crime rates. In our study, we found the Indiana cities below to be the cheapest for full and minimum coverage.

Dubois
City average annual min coverage premium
$358
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$164
Saint Anthony
City average annual min coverage premium
$359
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$164
Huntingburg
City average annual min coverage premium
$359
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$164
Celestine
City average annual min coverage premium
$361
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$164
Schnellville
City average annual min coverage premium
$362
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$164
Syracuse
City average annual min coverage premium
$1,531
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$650
Warsaw
City average annual min coverage premium
$1,528
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$650
Zanesville
City average annual min coverage premium
$1,505
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$744
New Richmond
City average annual min coverage premium
$1,509
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$720
Grabill
City average annual min coverage premium
$1,503
Cheapest car insurance carrier
Hastings Mutual
Company average annual premium
$744

Car insurance discounts in Indiana

While you’re shopping for Indiana car insurance savings, you may want to inquire about some of the state’s most common discounts, including: 

  • Young driver discounts: Teens and young adults could earn discounts for maintaining good grades (usually a 3.0 GPA or higher), living at college with a vehicle or completing a driver’s training course. 
  • Safe driver discounts: Not only do safe drivers typically pay the lowest base rates, but many major carriers offer a safe driver discount, too. Usually, you must be ticket-and-accident-free for three to five years to qualify, but each company creates its own eligibility requirements. 
  • Telematics: Safe drivers may want to consider participating in a telematics program, which could potentially yield hefty savings. Telematics might be a good idea for those working on cleaning up their driving records, too, as it may provide a financial incentive to practice safe driving habits. 
  • Bundling: Periodically shopping for new home insurance can be an excellent way to save, and if you purchase homeowners and auto insurance with the same company, you might get a bundling discount.  
  • Defensive driving course: Some companies could give you a discount after completing an approved defensive driving course. Oftentimes, the course is available online but it may have a small fee attached. Additionally, your company might only give this discount to drivers who are 50 or older, so you may want to ask your agent for details. 

Frequently asked questions

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years of industry expertise
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carriers reviewed
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ZIP codes examined
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quotes analyzed

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 increases filed by insurance companies and are 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.

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.

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

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

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Written by
Joshua Cox-Steib
Contributor, Personal Finance

Joshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance.

Edited by Editor, Insurance