Car insurance costs in Indiana are relatively low compared to the national average. However, there are a number of factors that can influence the cost of your premiums, and the best way to find affordable rates is by shopping around. Our Indiana Car Insurance Calculator can help you estimate how much you can expect to pay for car insurance in the state.
Driving History
Your driving record is one of the biggest factors that affects your car insurance rates in Indiana. Good drivers whose records are free of serious violations like speeding tickets or reckless driving will typically get the cheapest quotes. Infractions like driving under the influence or at-fault accidents can significantly increase your insurance costs.
Credit Score
Your credit rating is an important factor that insurers use to determine your risk level and rate your insurance policy. Bad credit is usually more expensive than good credit, and it can raise your auto insurance premiums by up to 2.1x.
Location
Where you live is another significant factor that can influence the cost of your car insurance. Cities with high crime and traffic rates tend to have higher auto insurance rates than other areas.
Age
Young drivers are generally more expensive to insure than older drivers, as they have fewer years of driving experience behind them. But inexperienced drivers can often lower their rates by taking a driver education course or attending an approved traffic school.
Credit Score
Maintaining a good credit score is an important factor that will influence your car insurance rates in Indiana. In fact, a person with excellent credit can save up to $1,228 per year on their car insurance in Indiana compared to someone with poor credit.
Gender
As a general rule, female drivers are less likely to have driving infractions and are typically cheaper to insure than male drivers. Similarly, younger drivers are also less likely to have infractions and tend to have cheaper car insurance rates than older drivers.
Make and Model
The type of vehicle you drive will also impact your car insurance rates. Luxury cars, for example, are more expensive to insure because they are more difficult to repair and have a higher resale value than other vehicles.
Minimum Liability Requirements
In Indiana, all licensed drivers must carry bodily injury liability insurance and property damage liability insurance. These requirements can be referred to as 25/50/25, and they provide coverage for your damages in an accident.
Increasing your liability limits or purchasing comprehensive and collision insurance can improve your protection in the event of an accident.
You may be able to save money by purchasing liability-only coverage instead of full coverage. The difference between the two types of coverage is that liability-only coverage provides basic protection in an accident and only pays out for bodily injury and property damage up to your policy’s limits.
Choosing the right car insurance coverage is the first step in protecting yourself and your assets in case of an accident. Our car insurance calculator can help you estimate how much coverage you need to stay within your budget. It takes into account several other important factors, such as the value of your car and your driving habits.