Indiana Car Insurance
- Indiana Car Insurance
From big cities like Indianapolis and Bloomington to natural beauty like the Indiana Dunes National Park, there are many landmarks and national wonders to view in The Hoosier State. However, it’s important to remember that wherever your travels take you, you’ll want to ensure you know the ins and outs of car insurance in Indiana.
Everything You Need to Know About Car Insurance in Indiana
Whether you’re binding an auto insurance policy for the first time, new to the state, or a seasoned Hoosier searching for the cheapest policy in the state, there are a few things you’ll want to remember while searching for the best policy for your needs.
The first and most important thing to remember while conducting your research is what you value most in a policy: cost or coverage. If you value cost over coverage, you’ll want to narrow your search to the insurers with the lowest rates in the state. If you value coverage over cost, you’ll want to focus on the insurer that offers the broadest range of additional coverage options to add to your policy.
Whether you are in search of low-income car insurance in Indiana or an insurer with as many optional coverage options to add to your full coverage policy, wherever you fall on the spectrum, you’ll be able to find the best policy for your needs if you know exactly how and where to look.
How to Get Cheap Car Insurance in Indiana
Cheap car insurance in The Hoosier State isn’t tough to find, considering the average full coverage premium in the state costs far less than the national average rate. In Indiana, the minimum liability coverage each driver must have on their policy is $25,000 of bodily injury liability, $50,000 of bodily injury liability per accident, and $25,000 of property damage liability, or a 25/50/25 liability limit. Considering this is the only required coverage in the state, residents pay significantly less than the average American.
Indiana’s average full coverage premium costs about $1,210 annually, or about 30% lower than the national average cost of about $1,670 annually. If the average cost of a full coverage premium in the state still feels too high for your budget, don’t worry. There are a few things you can do to lower your premiums.
The easiest and most drastic way to lower your premiums is to reduce your coverage to a minimum policy. A minimum coverage policy will only carry the legal amount of coverage in the state, no more and no less. In Indiana, a minimum coverage policy would only have 25/50/25 liability coverage.
While a minimum coverage policy will reduce your premiums by up to 50%, it’ll also dramatically reduce your coverage and safety on the road. Here at Clovered, we recommend carrying a full coverage policy because, the way we see it, it’s always better to be safe than sorry.
Another great way to lower your premiums without sacrificing coverage is by finding an insurer that offers low base rates with plenty of discount options. Many insurers offer several types of discounts, like standard or enrollment-based discounts.
Some standard discounts many insurers offer are a good student discount, a discount for having safety or anti-theft features on your vehicle, and a bundling discount for those who bundle multiple cars on one policy or multiple policies with one insurer.
Many insurers now offer enrollment-based programs in which policyholders may participate to earn discounts on their premiums. A popular program many insurers offer is a telematics program. Policyholders may enroll in a telematics program to receive a discount for practicing safe driving habits or driving fewer miles than the national average of 12,000 annually.
Who Has the Cheapest Car Insurance in Indiana?
While the average cost of auto insurance in Indiana is low compared to the national average, some insurers like State Farm and Geico offer base rates even lower than the state average. Annual premiums for full coverage policies from these insurers fall between $970 and $930, respectively. Not only do these insurers offer competitive base rates, but they also have several options for discounts to reduce your premiums further.
How Much Does Car Insurance Cost in Indiana Per Month?
The monthly cost of car insurance in Indiana is about $100 for a full coverage policy. If you have a minimum coverage policy, your monthly rate could be as low as $50. It’s essential to keep in mind that adding coverage to your policy will raise your rates. Some coverages are more expensive than others, so be sure to go over each coverage type with your insurer or agent before adding or removing coverage to your policy to be sure you’re getting the most bang for your buck.
The Best Auto Insurance Companies in Indiana
While there are many great car insurance companies in Indiana, some have unique offers that help them stand out. Geico, USAA, State Farm, Progressive, and Travelers have low base rates and discount opportunities, making them the best insurers in the state.
When searching for an auto insurance policy that best suits your needs, getting and comparing quotes from these insurers is a surefire way to get an excellent policy. Each of these insurers offers competitive base rates, several discount options, and a vast range of additional coverages you can add to tailor your policy to your needs.
While we have our top picks of insurers in The Hoosier State, it’s always a good idea to do your own research to find the best insurer for your unique needs.
The Best Auto Insurance in Indiana
The average car insurance in Indiana is a full coverage policy that exceeds the minimum legal requirements in the state, with a higher liability limit and several optional coverages added on. The best policy will vary from driver to driver because a policyholder should always tailor it to their needs. Considering your needs is essential in finding the best car insurance policy for you and your family.
While deciding whether you place a higher value on cost or coverage when it comes to an auto insurance policy is crucial to narrow your search for the best insurer, there are other factors you must consider. Insurers use some factors about you to determine your premiums, such as your age, gender, ZIP code, and other factors. While these factors may sometimes work in your favor, they may also cause an insurer to consider you at higher risk of getting into an accident, thus increasing your premiums.
What Is the State Minimum Car Insurance in Indiana?
In Indiana, the state minimum insurance is 25/50/25 liability coverage. When binding a policy, your insurer must offer the same limit of uninsured/underinsured motorist coverage (UM/UIM), which policyholders may reject by signing a waiver. If you lease or finance your vehicle, a legally binding contract with your leaser or lender may require you to have collision and comprehensive coverages on your auto insurance policy.
Since Indiana is a tort state, meaning in every accident, at least one driver must be deemed at fault, car insurance laws are relatively minimal compared to other states. Carrying the minimum legal amount of coverage will protect you legally but offers very little financial protection, putting you and your savings at risk.
Here at Clovered, we feel carrying a full coverage policy is much safer than a liability-only one. Full coverage policies offer a wide range of coverages to offer you and your passengers maximum protection while seeing all The Hoosier State has to offer.
What Is Full Coverage Insurance in Indiana?
All drivers must have at least 25/50/25 PLPD insurance in Indiana, so a policy with a higher liability limit and any additional coverage is considered a full coverage policy. Many Hoosiers with full coverage policies opt for a 100/300/100 liability limit, a first-party medical benefit like medical payments coverage (MedPay), and other additional coverage options.
Many drivers with full coverage policies will carry collision coverage, comprehensive coverage, MedPay, and UM/UIM with a limit higher than the minimum legal amount.
What Are the Indiana Car Insurance Requirements?
Indiana insurance requirements mandate all drivers have at least 25/50/25 liability coverage. Insurers must offer all policyholders the same 25/50/25 limit of uninsured motorist coverage, but drivers have the option to reject that coverage by signing a waiver. If you lease or finance your vehicle, you may be required to have comprehensive or collision coverage, too.
Liability coverage is used to help the victim of an accident caused by the policyholder cover their medical expenses. Once the policyholder’s liability limit is reached after they pay their deductible, they must pay the remainder of the victim’s medical expenses out of pocket.
Policyholders with a liability-only policy do not have any first-party benefits. This means the policyholder must rely on other drivers’ liability coverage in an accident where the policyholder is a victim. If a policyholder with liability-only coverage causes an accident, their car insurance will not help with any expenses.
While the required 25/50/25 liability limit may be high enough to cover some medical expenses, it may not cover all. If you’ve ever been to a hospital in the States, you know it’s not difficult to incur charges that exceed $25,000 or even $50,000. Due to the expensive nature of American hospitals, it may be a good idea to invest in a full coverage policy with higher liability limits and a first-party medical benefit, like MedPay.
In many cases, the long-term benefit of having a full coverage policy far outweighs the short-term savings of carrying a policy with minimal coverage.
Uninsured Motorist Indiana Requirements
Insurers must offer all policyholders uninsured motorist coverage in Indiana when they first bind a policy. However, policyholders aren’t required to carry this coverage and can reject it in writing with their insurer. Many policyholders will offer a standard limit of 25/50/25 UM coverage, which policyholders can raise to suit their needs better.
While Indiana has a relatively high population of uninsured drivers compared to the national average, the state does not require UM coverage. On average, about 15% of drivers in Indiana are uninsured, while the national average is only about 12%.
In Indiana, Is It Legal To Drive Without Insurance?
The uninsured motorist law in Indiana, or the compulsory insurance law, states all residents must have at least 25/50/25 liability car insurance. Thus, it is illegal to drive without insurance in The Hoosier State. Failure to comply with this law may lead to hefty fines or license and registration suspensions. With more serious offenses, drivers may be legally required to carry SR-22 insurance.
How to Find Cheap Auto Insurance With an SR-22 in Indiana
A driver with an SR-22 in Indiana may pay more than the state average for a full or minimum coverage auto insurance policy. Filing for an SR-22 doesn’t necessarily raise your premiums, but the violation committed that caused you to file an SR-22 generally will cause an increase in your rates.
When calculating premiums, insurers use facts about you to determine how much risk they take by offering you a policy. If you prove to be a high-risk driver, like a driver who was previously stopped for driving without insurance or while intoxicated, increased premiums reflect the risk an insurer takes when insuring you.
While car insurance with an SR-22 will be more expensive than without, there are still ways you can lower your premium. Finding an insurer specializing in high-risk insurance is an excellent way to get cheap SR-22 insurance. For example, our partner Travelers offers lower-than-average base rates for high-risk drivers.
How To Get the Best Car Insurance Rates in Indiana
Low-cost car insurance in Indiana shouldn’t be too tough to find as long as you know what to look for. The first thing you must do before shopping for any insurance policy is determine what you value in a policy. From there, you can narrow your search for insurers that offer low-base rates and the types of coverage you desire.
Once you find a few insurers that check all your boxes, it’s time to get and compare quotes.
Getting Car Insurance Quotes in Indiana
Getting and comparing quotes from insurers in Indiana is the best way to find the best policy for you. Lucky for you, you’ve come to the right place for just that!
Here at Clovered, we offer a free quoting tool you can use to get and compare quotes from the best insurers in the state in minutes. If you prefer to chat with an agent, we have those too! You can call us at 833-255-4117 or email us at email@example.com, and someone will be happy to help you with your car insurance needs.
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The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.