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Cheapest car insurance in Indiana for 2023
Our comprehensive study shows that Pekin, Hastings Mutual and Indiana Farmers Insurance could be the cheapest car insurance companies in Indiana for a variety of drivers.
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What To Know First
Bankrate's insurance editorial team has nearly 50 years of combined experience helping drivers find quality coverage that won't break the bank. Our proprietary rate data from Quadrant Information Services shows that Indiana's average full coverage premium is $1,295 per year, 36 percent lower than the national average. This data also revealed Dubois as one of the cheapest cities in Indiana for minimum coverage, with Syracuse being among the most affordable for full coverage. Finally, we learned that, depending on your needs, Pekin, Hastings Mutual and Indiana Farmers Insurance might offer the cheapest car insurance in Indiana.
- Cheapest company for minimum coverage: Pekin
- Cheapest company for full coverage: Hastings Mutual
- Cheapest company for adding a teen driver: Pekin
- Cheapest company for getting a speeding ticket: Pekin
- Cheapest company for being in an at-fault accident: Hastings Mutual
- Cheapest company after a high-risk incident: Indiana Farmers Insurance
On This Page
- The cheapest car insurance companies in Indiana
- The cheapest car insurance companies in Indiana by coverage level
- Cheapest cities in Indiana for car insurance
- Factors that impact cheap rates in Indiana
- Minimum coverage requirements for Indiana drivers
- How to get the cheapest car insurance in Indiana
- Car insurance discounts in Indiana
- Frequently asked questions
- Methodology
Cheapest insurance providers in
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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.
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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.
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
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Pekin | $16 | $195 |
Cheapest company for full coverage
Company | Average monthly full coverage premium | Average annual full coverage premium |
---|---|---|
Hastings Mutual | $46 | $550 |
Cheapest company for adding a teen driver
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Pekin | $37 | $447 |
Cheapest company for getting a speeding ticket
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Pekin | $20 | $243 |
Cheapest company for being in an at-fault accident
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Hastings Mutual | $19 | $230 |
Cheapest company after a high-risk incident
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Indiana Farmers Insurance | $28 | $337 |
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.
Insurance company | Average monthly minimum coverage premium | Average annual minimum coverage premium | Annual savings vs. State average* |
---|---|---|---|
Pekin
|
Average monthly minimum coverage premium
$16
|
Average annual minimum coverage premium
$195
|
Annual savings vs. State average*
- $132 |
Grange
3.7
Bankrate Score
|
Average monthly minimum coverage premium
$19
|
Average annual minimum coverage premium
$225
|
Annual savings vs. State average*
- $102 |
Hastings Mutual
|
Average monthly minimum coverage premium
$19
|
Average annual minimum coverage premium
$225
|
Annual savings vs. State average*
- $102 |
Geico
4.4
Bankrate Score
|
Average monthly minimum coverage premium
$19
|
Average annual minimum coverage premium
$228
|
Annual savings vs. State average*
- $99 |
Auto-Owners
4.2
Bankrate Score
|
Average monthly minimum coverage premium
$21
|
Average annual minimum coverage premium
$253
|
Annual savings vs. State average*
- $74 |
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.
*Based on policies with minimum coverage for 2023
Insurance company | Average monthly full coverage premium | Average annual full coverage premium | Annual savings vs. State average* |
---|---|---|---|
Hastings Mutual
|
Average monthly full coverage premium
$46
|
Average annual full coverage premium
$550
|
Annual savings vs. State average*
- $745 |
Pekin
|
Average monthly full coverage premium
$52
|
Average annual full coverage premium
$621
|
Annual savings vs. State average*
- $674 |
Grange
3.7
Bankrate Score
|
Average monthly full coverage premium
$74
|
Average annual full coverage premium
$893
|
Annual savings vs. State average*
- $402 |
Geico
4.4
Bankrate Score
|
Average monthly full coverage premium
$79
|
Average annual full coverage premium
$946
|
Annual savings vs. State average*
- $349 |
Indiana Farmers
|
Average monthly full coverage premium
$80
|
Average annual full coverage premium
$954
|
Annual savings vs. State average*
- $341 |
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.
*Based on policies with full coverage for 2023
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.
City | City average annual minimum coverage premium | Cheapest car insurance company | Company average annual minimum coverage premium |
---|---|---|---|
Dubois | $275 | Hastings Mutual | $146 |
Saint Anthony | $276 | Hastings Mutual | $146 |
Huntingburg | $276 | Hastings Mutual | $146 |
Celestine | $277 | Hastings Mutual | $146 |
Schnellville | $278 | Hastings Mutual | $146 |
City | City average annual full coverage premium | Cheapest car insurance company | Company average annual full coverage premium |
---|---|---|---|
Syracuse | $1,197 | Hastings Mutual | $436 |
Warsaw | $1,197 | Hastings Mutual | $436 |
Zanesville | $1,197 | Hastings Mutual | $432 |
New Richmond | $1,198 | Hastings Mutual | $440 |
Grabill | $1,199 | Hastings Mutual | $432 |
Factors that impact cheap rates in Indiana
Numerous rating factors unique to your situation can impact the cost of car insurance in Indiana, including certain life events. If you are shopping around for cheaper car insurance due to a recent life change, here some things to consider:
Insuring a teen driver
If you add a teen driver to your policy, you can expect your premium to increase. This is because inexperienced drivers are statistically more likely to cause accidents than older drivers. Although insurance companies charge higher premiums for teen drivers to offset the risk of claims, most also offer discounts specifically geared for young drivers, such as good grades and students living away from home at college without a vehicle. Rates will typically decline over time as the teen driver gets older and has more experience behind the wheel.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Pekin | $447 | $1,127 |
Farmers | $462 | $1,316 |
Motorists | $537 | $2,249 |
Indiana Farmers Insurance | $544 | $1,627 |
Nationwide | $562 | $2,000 |
Getting a speeding ticket
Getting convicted of speeding will generally negatively impact your insurance rate, as speeding is considered by insurers a type of reckless driving behavior that also commonly leads to costly claims. Most speeding tickets stay on your record for three years, during which time your car insurance premium will likely be higher via a surcharge. However, some companies may weigh speeding tickets less heavily than others, as shown in the table below.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Pekin | $243 | $762 |
Geico | $257 | $1,066 |
Hastings Mutual | $297 | $695 |
Indiana Farmers Insurance | $309 | $1,045 |
American Select Insurance Company | $320 | $1,466 |
Getting into an at-fault accident
Unless you have accident forgiveness coverage, causing a collision will generally drive up the 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 can cause your premium to increase more drastically.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Hastings Mutual | $230 | $562 |
Pekin | $260 | $821 |
Grange | $310 | $1,199 |
Geico | $329 | $1,365 |
Indiana Farmers Insurance | $337 | $1,136 |
Being deemed a high-risk driver
Certain events can cause your insurance company to put you in the “high-risk driver” category, including a DUI conviction (which is typically the most severe offense). 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, even 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.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Indiana Farmers Insurance | $337 | $1,136 |
Progressive | $340 | $1,569 |
Pekin | $380 | $1,144 |
Grange | $386 | $1,569 |
State Farm | $398 | $1,434 |
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.