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Best cheap car insurance in Kokomo

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Drivers in Kokomo, Indiana, pay, on average, less for both full and minimum car insurance than the national average. The average cost of car insurance in Kokomo, Indiana, is $1,202 per year for full coverage insurance, and the cost of minimum coverage averages $383 per year. On the other hand, drivers nationwide pay an average of $1,674 per year for full coverage car insurance and $565 per year for minimum coverage. USAA offers the cheapest average car insurance rates in Kokomo, according to Bankrate’s 2021 study of quoted annual premiums.

Minimum coverage typically has the cheapest rates, but most insurance agents recommend purchasing higher coverage limits if you can. That’s because low coverage limits can expose you financially if you cause an accident with injuries or property damage. Luckily, some of the cheapest car insurance companies in Kokomo also offer robust policy options so you don’t have to sacrifice coverage for price. To help you narrow down the options, Bankrate analyzed average premium data and other factors and third-party ratings to find the best cheap car insurance in Kokomo.

Best cheap car insurance companies in Kokomo

The best cheap car insurance companies in Kokomo are USAA, Grange, Indiana Farmers and Auto-Owners, according to Bankrate’s study of average rate data from Quadrant Information Services. Bankrate then weighed the quoted annual premium information and other important factors, like coverage options, discounts, financial strength and customer satisfaction, to award the insurance companies a Bankrate Score, which drivers can use to assess carriers to find the best option for their individual insurance needs. The Bankrate Score has a maximum of 5 points, with the most points reserved for the insurers that excel in all categories. Drivers can use the same factors to find the best car insurance in Indiana.

Insurance company Bankrate Score J.D. Power score*
(North Central region)
Average annual premium for full coverage Average annual premium for minimum coverage
USAA* 5.0 895/1,000 $774 $242
Grange 3.8 826/1,000 $831 $265
Indiana Farmers 4.0 N/A $966 $302
Auto-Owners 4.5 842/1,000 $1,030 $302

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

USAA

With the cheapest rates for both full and minimum coverage, USAA has a lot to offer Kokomo drivers. However, membership to USAA is limited to active military members, veterans and their qualifying family members, so not everyone is eligible for USAA car insurance. This limitation is why, despite having the highest score in the North Central region on the J.D. Power Auto Insurance Study, USAA is ineligible to rank in the study. Those who qualify for USAA membership, however, may be able to get access to low average car insurance rates and other perks, like 24/7 policy updates and claims access online and through the mobile app. Drivers may also get other opportunities to save with USAA’s discounts, which include good student, bundling home and auto, discounts for being a loyal member and discounts for storing the vehicle without driving it.

Learn more: USAA Insurance review

Grange

Grange offers some of the lowest average car insurance rates to drivers in Kokomo, and drivers may be able to save even more with Grange’s discounts, which include discounts for young drivers, enrolling in the OnTrack telematics program or if you are recently separated or divorced. This insurance company also offers a convenient way to handle minor insurance claims with the Easy-Snap auto claims service. It’s worth noting, however, that Grange was ranked below average by J.D. Power on the North Central region study.

Learn more: Grange Insurance review

Indiana Farmers

Indiana Farmers is a small insurer that operates in just three states: Indiana, Illinois and Ohio. While Indiana Farmers’ average Kokomo rates are the third highest out of the providers on this list, they are still well below average. This carrier offers numerous discounts, including discounts for bundling policies, having more than one car and being a good student. Drivers who choose Indiana Farmers also have the option to customize their car insurance policies with add-on coverages like rental reimbursement, gap insurance, roadside assistance and new car replacement.

Auto-Owners

Auto-Owners has average car insurance rates that are higher than the other providers on this list, but the rates are still low, and it offers several ways that Kokomo drivers can customize their auto insurance policies. Aside from the most common coverage options, drivers have the option of gap insurance, diminished value, roadside assistance and additional expenses coverages. Auto-Owners also offers the Personal Automobile Plus Package, which bundles together 10 coverage options at one affordable rate. Plus, there are other features offered by this insurance provider, such as collision coverage advantage and common loss deductible. Auto-Owners also scored above average in the North Central region on the J. D. Power study.

Learn more: Auto-Owners Insurance review

How to get and keep the cheapest car insurance in Kokomo

Getting and keeping the cheapest and best car insurance in Kokomo can help keep your insurance costs in check. One of the easiest ways to do so is to maintain a clean driving record by practicing safe driving habits. This may also make it possible to qualify for safe driving discounts. Accident forgiveness is also an optional add-on, and it may protect your rate if you cause an accident. Other ways to get and keep the cheapest car insurance in Kokomo include:

  • Shop with multiple insurance providers. One way to get the cheapest rates with the best car insurance companies in Kokomo is to shop with multiple insurance providers before purchasing a policy. By comparing the coverage options and price quotes, you can find the most affordable rates for the right policies.
  • Take advantage of discounts. Most insurance providers offer discounts to help drivers save money on the costs of their policies. It can pay to inquire about discounts you qualify for, and you also have the option to choose a provider that offers numerous discounts that will lower the cost of your policy.

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. 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.

Individual city rates represent 2021 data and a 2020 Toyota Camry.

These are sample rates and should only be used for comparative purposes.

Bankrate Score

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 Moodys 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
Mandy Sleight
Insurance Contributor
Mandy Sleight has been a licensed insurance agent since 2005. She has three years of experience writing for insurance websites such as Bankrate, MoneyGeek and The Simple Dollar. Mandy writes about auto, homeowners, renters, life insurance, disability and supplemental insurance products.
Edited by
Insurance Editor