Cheapest car insurance in Indiana for 2023

The cheapest car insurance companies in Indiana

Generally, car insurance companies review more than a dozen rating factors to calculate your premium. In Indiana, these factors could include your age and driving history. The coverage package you choose also has a significant impact on your rate. Using premium data from analytics company Quadrant Information Services, we’ve curated a list of some of the most affordable car insurance in Indiana based on different driver needs.

Cheapest company for minimum coverage

Cheapest company for full coverage

Cheapest company for adding a teen driver

Cheapest company for getting a speeding ticket

Cheapest company for being in an at-fault accident

Cheapest company after a high-risk incident

The cheapest car insurance companies in Indiana by coverage level 

According to our research, the average annual cost of a full coverage car insurance policy in Indiana is $1,295; minimum coverage averages $327 per year. However, not all cheap car insurance companies are created equal. Drivers looking for the best provider with the most affordable rates may also want to consider varied levels of customer service and the range of product offerings available. 

Our findings show that you might find cheap auto insurance in Indiana by shopping with Pekin, Grange and Hastings Mutual. Geico, Auto-Owners and Indiana Farmers Insurance could also be good choices, depending on whether you need full or minimum coverage.

Cheapest cities in Indiana for car insurance 

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, full coverage 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. 

The only way to know for certain how much you will pay for full coverage is to get a personalized quote using your ZIP code. In our study, we found the Indiana cities below to be the cheapest for full and minimum coverage. Hastings Mutual was also the cheapest company — for both coverage types — in all the cities we reviewed.

Getting a speeding ticket

Getting into an at-fault accident

Being deemed a high-risk driver

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, but these options can be declined 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.

How to get the cheapest car insurance in Indiana 

Although it can take some time, learning how to save on car insurance in Indiana may be worth it. If you’re looking for ways to lower your premium, you may want to consider the following: 

Get multiple quotes

Getting quotes from several different insurance providers before buying coverage can help you compare rates and policy features. Comparing car insurance quotes can also help ensure you are getting the lowest rate for the type and amount of coverage you want.

Maintain a clean driving record

Avoiding accidents by practicing safe driving and limiting your vehicle’s risk for damage, like parking in a covered space, can help reduce the chance of having to file a claim, which can increase auto insurance rates. Avoiding unnecessary insurance claims can help keep your rates from suddenly increasing.

Work on improving your credit

Some states prohibit insurance companies from using your credit score as a factor when determining your premium, but not Indiana. While it may not happen overnight, improving your credit may be one of the most impactful ways to lower your average auto insurance rate. For example, on average, Indiana drivers with average credit pay $1,394 per year for full coverage. Drivers with poor credit pay $2,095, a difference of $701 annually.

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:

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 2021 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. 

Bankrate Scores 

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.