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Best car insurance in Indiana in 2023

Updated Sep 13, 2023
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Best car insurance companies in Indiana

According to our research, Geico, USAA, 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 from J.D. Power’s 2022 U.S. Auto Insurance Satisfaction Study, financial strength ratings from AM Best, 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:

Geico
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info
J.D. Power score (North Central region)
847
/1,000
Average monthly full coverage premium
$79
Average annual full coverage premium
$946
USAA
Rating: 4.3 stars out of 5
4.3
Bankrate Score
Info
J.D. Power score (North Central region)
891
/1,000
Average monthly full coverage premium
$85
Average annual full coverage premium
$1,020
State Farm
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info
J.D. Power score (North Central region)
848
/1,000
Average monthly full coverage premium
$86
Average annual full coverage premium
$1,031
Auto-Owners
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info
J.D. Power score (North Central region)
834
/1,000
Average monthly full coverage premium
$91
Average annual full coverage premium
$1,090
Progressive
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info
J.D. Power score (North Central region)
827
/1,000
Average monthly full coverage premium
$110
Average annual full coverage premium
$1,325
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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.

USAA not officially ranked by J.D. Power due to eligibility restrictions

Geico
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info
J.D. Power score (North Central region)
847
/1,000
Average monthly minimum coverage premium
$19
Average annual minimum coverage premium
$228
USAA
Rating: 4.3 stars out of 5
4.3
Bankrate Score
Info
J.D. Power score (North Central region)
891
/1,000
Average monthly minimum coverage premium
$22
Average annual minimum coverage premium
$263
State Farm
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info
J.D. Power score (North Central region)
848
/1,000
Average monthly minimum coverage premium
$23
Average annual minimum coverage premium
$276
Auto-Owners
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info
J.D. Power score (North Central region)
834
/1,000
Average monthly minimum coverage premium
$21
Average annual minimum coverage premium
$253
Progressive
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info
J.D. Power score (North Central region)
827
/1,000
Average monthly minimum coverage premium
$26
Average annual minimum coverage premium
$306
Powered by Coverage.com (NPN: 19966249)
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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.

USAA not officially ranked by J.D. Power due to eligibility restrictions

Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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Insurance Disclosure

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.

Best for multiple discount opportunities

Rating: 4.4 stars out of 5
4.4 Bankrate Score
JD Power: 847/1,000 AM Best: A++

Average annual premium

$ 946 for full coverage
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Why Geico made our list: Geico is well-known in the insurance industry for having some of the lowest rates available. Geico’s average annual full and minimum coverage premiums are well below the state average for Indiana. The company also offers a wide array of discounts to help customers lower their premiums even more. However, Geico does not offer as many optional coverage types as some other carriers, and its policies are relatively basic.

Who Geico may be good for: Geico might be a good choice if you are on a budget, value both low rates and discount opportunities, and aren’t looking for a policy that is too complex or personalized. Geico’s average premiums tend to be below state and national averages, and the company has one of the longest lists of discounts in the industry.

USAA logo

Best for military-focused coverage

Rating: 4.3 stars out of 5
4.3 Bankrate Score
JD Power: 891/1,000 AM Best: A++

Average annual premium

$ 1,020 for full coverage
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Why USAA made our list: USAA offers its customers low average rates, plenty of coverage options, several discounts and excellent customer satisfaction. However, the company is not eligible for official ranking with J.D. Power due to its eligibility restrictions; the company is only available to military members and veterans, as well as certain qualifying family members. Not all drivers will qualify for coverage.

Who USAA may be good for: If you qualify for its coverage, USAA could be a good option if you are looking for low rates, as well as military-focused coverage options and discounts. Members of the military community may benefit from discounts for garaging their vehicles on a base, for example, or for being deployed.

Best for local agencies

Rating: 4.2 stars out of 5
4.2 Bankrate Score
JD Power: 848/1,000 AM Best: A++

Average annual premium

$ 1,031 for full coverage
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Why State Farm made our list: State Farm is the largest U.S. auto insurer by market share. However, the company has a higher-than-average overall complaint index score from the National Association of Insurance Commissioners (NAIC). A 1.00 score represents an average number of complaints. State Farm’s overall score is 1.55, meaning that the NAIC receives more complaints than average regarding State Farm.

Who State Farm may be good for: State Farm may appeal to you if you prefer to do business with an in-person agent rather than handling your insurance needs online, as the company sells its products through local agents. It could also be a good choice for bundling multiple insurance and banking products with one company.

Best for personalized coverage

Rating: 4.2 stars out of 5
4.2 Bankrate Score
JD Power: 834/1,000 AM Best: A++

Average annual premium

$ 1,090 for full coverage
Get a quote

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

Why Auto-Owners made our list: Auto-Owners is a regional carrier selling coverage in 26 states, including Indiana. Auto-Owners offers several coverage options to choose from, including gap insurance, diminished value coverage and new car replacement. However, Auto-Owners does not provide quotes online at this time. You will need to work with a local agent to get a quote and sign up for insurance.

Who Auto-Owners may be good for: If you’re looking for a policy that you can tailor to your unique needs, Auto-Owners might be a good fit. The company offers numerous optional coverage types and discounts to help you create a policy that fits your circumstances.

Best for digital policy management

Rating: 4.2 stars out of 5
4.2 Bankrate Score
JD Power: 827/1,000 AM Best: A+

Average annual premium

$ 1,325 for full coverage
Get a quote

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

Why Progressive made our list: Progressive has one of the strongest digital platforms in the industry, with the ability to get quotes, buy policies and manage accounts entirely online or through its mobile app. However, Progressive does have a higher average premium than the other companies on our list, although the company does offer numerous discounts, which could help you lower your premium.

Who Progressive may be good for: Progressive could be a good option if you value digital tools. The carrier’s Name Your Price tool lets you shop by inputting your preferred auto insurance rates. It then shows you a range of coverage options that fit your budget.

How Bankrate chose the best car insurance companies in Indiana

Indiana drivers can choose from dozens of companies for their car insurance needs, but Bankrate knows that the best insurance company in Indiana is different for each consumer. Our goal in reviewing the Indiana car insurance market is to help you find the best insurance for you. We started by reviewing average car insurance rates from Quadrant Information Services for the largest auto insurers in Indiana by market share. Next, we analyzed third-party customer satisfaction reviews from J.D. Power and the National Association of Insurance Commissioners (NAIC) as well as financial strength ratings from AM Best. We finished by doing a thorough review of each company's coverage offerings, discounts, digital tools and other perks.

We combined these metrics into a single Bankrate Score on a scale of 0.0 to 5.0. A higher overall score means that a company ranked more highly in the underlying categories. Using our Bankrate Score metric can help you easily see how companies compare to each other using a single data point, making the shopping process easier and more seamless for you.

How much is car insurance 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. The average cost of car insurance in Indiana is $327 per year for minimum coverage and $1,295 per year for full coverage. These average costs are cheaper than the national average cost of car insurance, which is $622 annually for minimum coverage and $2,014 annually for full coverage.

Average rates in Indiana are also significantly cheaper than those in Michigan, the state’s neighbor to the north, where minimum coverage costs an average of $1,104 per year and full coverage costs an average of $2,691 per year. To the south, Kentucky drivers also pay more than drivers in Indiana, with average rates of $678 per year for minimum coverage and $2,124 per year for full coverage. 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 full coverage in Indiana Average annual premium for minimum coverage in Indiana
$1,295 $327

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 auto insurance law 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 both comprehensive and collision coverage, 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.

Frequently asked questions

Written by
Cate Deventer
Former Writer & Editor, Insurance
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 Senior Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute