Cheap Auto Insurance for Teenagers in Indiana

Cheap Auto Insurance for Teenagers in Indiana

Finding out which companies quote the cheapest car insurance rates for teenagers takes a little more work than just picking a company at random. Every auto insurer uses different criteria to establish rates, so let’s take a look at the lowest cost car insurance companies in Indiana.

It’s important to understand that Indiana car insurance rates are calculated based on many things which can substantially decrease or increase the price of your policy. Simply having a birthday, moving to a new city, or having an at-fault accident can trigger changes in premium resulting in some companies being cheaper than others.

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Cheapest Indiana car insurance ranked by price
Rank Company Cost Per Year
1 Travelers $602
2 USAA $667
3 Cincinnati Insurance $678
4 Erie $712
5 Western Reserve $846
6 Indiana Farmers Mutual $867
7 Auto-Owners $879
8 The Hartford $889
9 Motorists Mutual $956
10 Nationwide $958
11 Utica National $965
12 Safeco $973
13 Hastings Mutual $983
14 State Farm $987
15 Farmers $1,053
16 Westfield $1,061
17 Wolverine Mutual $1,094
18 State Auto $1,120
19 Progressive $1,128
20 GEICO $1,133
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Travelers quotes some of the cheapest car insurance rates in Indiana at around $602 a year. USAA, Cincinnati Insurance, Erie, and Western Reserve would also make the list of some of the cheapest Indiana car insurance companies.

In the rate table above, if you currently have a policy with Erie and switched to USAA, you could realize an annual premium reduction of in the neighborhood of $45. Insureds with Western Reserve may save as much as $179 a year, and Indiana Farmers Mutual customers might lower prices by $200 a year.

To see if you’re overpaying, click here to begin a quote or quote rates from the companies below.

It’s important to note that these prices are averaged across all ages of drivers and types of vehicles and and are not calculated with a rate increase for teenagers. So the car insurance company that has the lowest price for you may not even be in the rate chart shown above. That helps illustrate why you need to get auto insurance quotes using your own driver data and vehicle information.

For teen drivers, one of the more important components that insurance companies use to determine the price of your policy is where you choose to live. Areas with a lot of weather claims or more people like Gary, Portage, and Indianapolis tend to pay higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of lower rates.

The following table sorts the priciest cities in Indiana for teenagers in which to purchase auto insurance.

How much does car insurance cost in Indiana?
Rank City Average Per Year
1 Gary $1,360
2 Hammond $1,314
3 Portage $1,137
4 Merrillville $1,106
5 Indianapolis $1,092
6 Lawrence $1,088
7 Terre Haute $1,067
8 New Albany $1,059
9 Evansville $1,055
10 Jeffersonville $1,048
11 Anderson $1,001
12 Kokomo $1,001
13 Bloomington $998
14 South Bend $985
15 Fishers $983
16 Fort Wayne $976
17 Columbus $975
18 Greenwood $969
19 Muncie $965
20 Elkhart $965
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Rates are approximated as the specific Indiana residence address can revise rates considerably.

What is the best car insurance company in Indiana?

Insuring your vehicle with a good quality company can be difficult considering how many different companies insure vehicles in Indiana. The ranking data shown next may help you decide which insurers you want to consider when comparing rates. The ratings below are only comprised of companies that insure vehicles across America, so companies without a large exposure are not taken into consideration for this list.

Indiana Car Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 99 100 90 92% A++ 97.4
21st Century 89 86 100 88% A 92.7
GEICO 97 91 88 85% A++ 92.5
Nationwide 88 94 91 88% A+ 91.3
AAA Insurance 93 87 88 87% A 90.8
Liberty Mutual 91 91 92 87% A 90.7
Safeco Insurance 90 93 88 86% A 90.2
State Farm 91 94 80 88% A++ 90.2
Travelers 89 91 94 79% A++ 90.1
American Family 88 92 83 88% A 89.4
Titan Insurance 89 91 83 86% A+ 89.3
Allstate 90 90 84 85% A+ 89.1
Progressive 83 85 99 87% A+ 88.7
Erie Insurance 92 90 82 88% A+ 88.5
The Hartford 87 89 84 87% A+ 88
Esurance 84 88 85 83% A+ 86
Farmers Insurance 79 88 84 87% A 84.7
The General 88 80 85 80% A- 84.5
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Data Source: Insure.com Best Car Insurance Companies

Cost comparison with and without full coverage

Finding cheap car insurance for teenagers in Indiana is the goal of the majority of people, and a good way to reduce the cost of insurance is to buy liability only. The information below shows the comparison of premium costs with full coverage compared to only the Indiana minimum liability coverage. The rate quotes are based on no claims or violations, $250 deductibles, single status, and no discounts are factored in.

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If we average the cost for ages 20 through 70, full coverage costs $1,480 per year over having just liability coverage. At some point, every insured wonders if buying full coverage is worth the expense. There isn’t a steadfast formula of when to drop physical damage insurance, but there is a guideline you can consider. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

How to find economical insurance for teenagers

Below you’ll find some of the recommended money-saving ideas that can help you buy cheaper car insurance.

  • Increase physical damage deductibles
  • Remove physical damage coverage on older vehicles
  • Good credit scores may lower your rates
  • Earn a discount by not filing claims
  • Vehicles with good safety ratings are usually cheaper to insure
  • Buy your homeowners policy from the same company as your auto insurance
  • Check for cheaper rates once a year

The final tip is extraordinarily vital, as we pointed out in this article. Coverage rates fluctuate constantly, so drivers shouldn’t hesitate to buy a different policy if a better rate can be found.

Staying with the same company for years is fine, but it’s not a good idea if that dedication is costing money that could be used for better things. Now is a great time to shop around and find cheaper car insurance for teenagers.

Who has the cheapest insurance quotes for teen drivers?

Thanks to technology, drivers have a lot of ways to quote car insurance rates in Indiana, but the most prevalent are from an independent or non-exclusive agent, a captive (or exclusive) agency such as Allstate or State Farm, or from a direct company like Geico. Each way has the same basic process, but each is slightly different in how they provide price quotes.

Independent insurance agents work with multiple companies and can get policy pricing from each one. These agents do not write with just one company and can give you more rates, which can help you get the best chance of finding a lower price. If they find a lower price, it’s easy for the agent to move the policy and you don’t have to switch agencies.

An agent who is captive is able to place business with a single company, two of the more popular are a State Farm or Liberty Mutual agent. These agents normally cannot provide multiple price quotes, so if finding the cheapest car insurance is your goal, you will want to shop around.

When you buy car insurance direct, you bypass a local agent and buy direct either online or via phone. Shopping direct can be good for drivers who have lower risk management needs and have a decent understanding of the limitations of car insurance.

When shopping for car insurance, which way works best to find cheap car insurance for teenagers in Indiana? Most people would assume that shopping direct saves the most money because there is no agent involved, but unfortunately, it’s not that simple. An argument could also be made that buying from an independent agent results in the cheapest rates due to having more companies to select from, but again, it’s not a sure thing. In many circumstances, the exclusive agents may have prices that other car insurance companies cannot touch.

Because of the variability of car insurance rates, really the best method to get the lowest rate is to get quotes and compare the rates. If time allows, get price quotes all three ways to give yourself plenty of rates to compare. We compiled a list of companies with some of the cheapest online rates that you can click here to view.