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 (North Central region)|
*Not officially ranked by J.D. Power due to eligibility restrictions
USAA offers its customers excellent customer satisfaction, a low average rate for full coverage, plenty of coverage options and several discounts. USAA has the lowest average annual full coverage premium on our list and provides numerous discounts for its policyholders, which may help save even more. However, the company is not eligible for official ranking with J.D. Power due to its eligibility restrictions, and the company is only available to military members and veterans, as well as certain qualifying family members. Not all drivers will qualify for coverage.
Learn more: USAA insurance review
Geico is well-known in the insurance industry for having some of the lowest rates available. Geico’s average annual premium is the second-lowest on our list, and the carrier may be a good choice if you’re on a budget but don’t qualify for USAA. 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.
Learn more: Geico insurance review
State Farm is one of the best-known insurance companies in the industry. The company 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. 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.
Learn more: State Farm insurance review
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.
Learn more: Auto-Owners Insurance review
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. However, Progressive does have the highest average rate for full coverage on our list, although the company does offer numerous discounts, which could help you lower your premium.
Learn more: Progressive insurance review
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|
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
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 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.