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Best car insurance in Indiana in 2022

Updated Sep 30, 2022
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Based on Bankrate’s extensive analysis of the largest Indiana car insurance companies by market share, some of the best car insurance in Indiana is sold by USAA, Geico and State Farm. Auto-Owners and Progressive are also contenders, as they ranked highly based on our scoring metrics, which included average premiums, coverage options, available discounts and third-party rankings.

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Best car insurance companies in Indiana

According to our research, USAA, Geico, State Farm, Auto-Owners and Progressive offer some of the best auto insurance in Indiana. Bankrate’s insurance editorial team systematically reviewed third-party customer satisfaction ratings, financial strength rankings, coverage options and available discounts for the largest auto insurance companies by market share in the Hoosier State. We also reviewed average quoted premiums obtained from Quadrant Information Services. These factors were then converted into a Bankrate Score on a 5.0 scale. The higher the Bankrate Score, the higher a company ranked in each scoring category.

Based on our research, the five best insurance companies in Indiana are:

Car insurance company Bankrate Score Average annual full coverage premium J.D. Power customer satisfaction score
USAA* 5.0 $906 891/1,000
Geico 4.7 $912 837/1,000
State Farm 4.7 $960 848/1,000
Auto-Owners 4.5 $1,103 834/1,000
Progressive 4.4 $1,279 827/1,000

*Not officially ranked by J.D. Power due to eligibility restrictions

BEST CAR INSURANCE COMPANY FOR MILITARY-FOCUSED COVERAGE

J.D. Power:
891 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 257
Avg annual premium for full coverage:
$ 906
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

BEST CAR INSURANCE COMPANY FOR MULTIPLE DISCOUNT OPPORTUNITIES

J.D. Power:
847 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 227
Avg annual premium for full coverage:
$ 912
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

BEST CAR INSURANCE COMPANY FOR LOCAL AGENCIES

J.D. Power:
848 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 273
Avg annual premium for full coverage:
$ 960
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

BEST CAR INSURANCE COMPANY FOR POTENTIAL DISCOUNTS

J.D. Power:
834 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 260
Avg annual premium for full coverage:
$ 1,103
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

BEST CAR INSURANCE COMPANY FOR DIGITAL POLICY MANAGEMENT

J.D. Power:
827 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 306
Avg annual premium for full coverage:
$ 1,279
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Average car insurance cost in Indiana

Indiana is one of the more affordable states in the nation for car insurance, perhaps due to its low population density and competitive insurance market. Indiana drivers can expect to pay an average rate of just $329 per year for minimum coverage and $1,242 per year for full coverage. These average costs are cheaper than the national average cost of car insurance, which is $545 annually for minimum coverage and $1,771 annually for full coverage. Bankrate’s insurance premium data is obtained from Quadrant Information Services. These rates reflect a driver with a clean driving record; your rates will vary based on your unique rating factors.

Indiana’s low cost of insurance may be linked to its decreasing number of licensed drivers. Between 2011 and 2019, the number of licensed drivers in the Hoosier State dropped from over 6.5 million to just under 4.6 million. Fewer drivers on the road may mean fewer accidents.

Average annual premium for minimum coverage in Indiana Average annual premium for full coverage in Indiana
$329 $1,242

How to find the best car insurance in Indiana

Everyone’s needs are different, so car insurance is highly personalized to each driver. That means the best car insurance in Indiana ultimately depends on you and your unique situation. However, you can take some steps to make finding the right policy for your needs a little easier.

Consider minimum insurance requirements in Indiana

Indiana requires that drivers purchase at least minimum levels of auto insurance coverage. If you live in Indiana, you must purchase at least the state’s minimum limits of bodily injury liability and property damage liability to drive legally. Auto insurance companies must also offer you uninsured motorist coverage and underinsured motorist coverage, although you can decline these in writing. You cannot purchase lower than your state’s minimum limits, so there’s no need to memorize the legal requirements. However, understanding the minimum coverage limits could help you identify if you need higher limits or optional endorsements.

Consider lender requirements

If you have a loan or lease on your vehicle, your insurance needs may be different than a driver who owns their vehicle outright. Because you share ownership of your vehicle with a financial institution, you will likely be required to carry comprehensive and collision coverages, often called “full coverage.” Both comprehensive coverage and collision coverage give you financial protection for damage to your vehicle. You may also want to consider gap insurance, which is designed to pay the difference between the cash value of your vehicle and the balance of your loan if your vehicle is stolen or totaled.

Consider your individual needs

Life happens, and when it does, your car insurance might change. If your teen driver gets their license, for example, you will likely be facing increased premiums. Or perhaps you rear-end another driver, get a speeding ticket or are convicted of a DUI. These incidents could flag you as a high-risk driver and increase your rates. Understanding your own specific scenario could help you find a company that sells coverage geared toward your situation. Households with teen drivers could look for companies with student discounts, for example.

Car insurance discounts in Indiana

Although Indiana drivers tend to pay less for car insurance than drivers elsewhere in the nation, there are ways to save even more on your car insurance premium. Most companies offer discounts to help you lower your premium. Some common car insurance discounts in Indiana include:

  • Young driver discounts: Many companies offer good student discounts for full-time students under the age of 25 who maintain a certain GPA. Young drivers might also benefit from teen driver programs or distance student programs, if they go away to school without a car.
  • Safe driver discounts: If you have not been in an accident or gotten a ticket for a certain number of years (which varies by company), you could earn a safe driver discount. Good drivers may also benefit from a telematics program or pay-per-mile discount.
  • Other discounts: If you have more than one vehicle or insurance policy, keeping everything with the same insurance company can result in significant bundling discounts. You could also consider paying in full or going paperless to lower your bills.

Because each company offers its own discounts and has its own underwriting rules, talking with an agent is often the best way to identify savings opportunities. Not all companies list all of their available discounts online.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2022 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 2020 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

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by Insurance Editor
Reviewed by Assistant Vice President & Claims Field Manager