Cheapest car insurance in Indiana for 2024

According to Bankrate’s analysis, Auto-Owners, Pekin and Grange Insurance 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

• Cheapest company for minimum coverage: Auto-Owners
• Cheapest company for full coverage: Hastings Mutual
• Cheapest company for drivers with prior incidents: Auto-Owners
• Cheapest company for young drivers: USAA

According to our research, the average annual cost of a minimum coverage car insurance policy in Indiana is $415 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. 

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.

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.

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 car insurance for drivers with a ticket: Auto-Owners
• Cheapest car insurance for drivers with an at-fault accident: Hastings Mutual
• Cheapest car insurance for high-risk drivers: Progressive

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.

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.

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.

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 car insurance for insuring a teen driver: Pekin
• Cheapest car insurance for teens with a ticket: USAA
• Cheapest car insurance for teens with an at-fault accident: Hastings Mutual
• Cheapest car insurance for young drivers with a DUI: Progressive

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.

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.

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

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:

Cheapest Indiana car insurance for young drivers with a DUI: Progressive

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.

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. 

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all 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 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.