The vehicle requiring insurance is one of the biggest factors when trying to find affordable auto insurance for inexperienced drivers. Vehicles with reasonable performance levels, modern passenger safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models. The next table features coverage premiums for a handful of the cheapest vehicles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$623|
|Ford Escape Limited 2WD||$642|
|Chevrolet Equinox LS 2WD||$657|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$669|
|Hyundai Elantra Blue 4-Dr Sedan||$680|
|Jeep Wrangler Rubicon 4WD 2-Dr||$682|
|Honda Odyssey EX-L W/Rear Entertainment||$694|
|Toyota Corolla LE||$701|
|Toyota Camry SE||$704|
|Ford Explorer XLT 2WD||$706|
|Chevrolet Silverado LT Regular Cab||$712|
|Nissan Altima Hybrid 4-Dr Sedan||$706|
|Ford Focus S 4-Dr Sedan||$714|
|Chevrolet Impala LS||$706|
|Nissan Rogue S AWD||$715|
|Chevrolet Malibu LTZ||$706|
|Toyota RAV4 Limited 2WD||$721|
|Volkswagen Jetta S 4-Dr Sedan||$728|
|Toyota Camry Hybrid||$754|
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Rates do not factor in Indiana location which can increase or decrease premium rates greatly.
Looking at the rates, you can see that cars like the Honda CR-V, Ford Escape, Chevrolet Equinox, and Toyota Tacoma are some of the cheapest vehicles to insure for new drivers.
Buying cheap car insurance is not always easy, and finding out which companies quote the cheapest auto insurance rates for inexperienced drivers in Indiana will require even more work. Every car insurance company has their own process to set their prices, so first let's look at the rankings for the most affordable auto insurance companies in Indiana.
It's a good idea to know that Indiana auto insurance rates are impacted by many things that will increase or decrease the price you have to pay. That is why Indiana drivers need to take the time to shop around to find cheap insurance quotes for inexperienced drivers. Auto insurance prices can be altered by many factors and can change substantially, so the best option the last time you shopped your coverage around may now be priced much higher than other options.
Find the Cheapest Auto Insurance for Newbies
|Rank||Company||Cost Per Year|
|7||Indiana Farmers Mutual||$875|
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Travelers may offer some of the best car insurance rates in Indiana at around $602 a year. Cincinnati Insurance, USAA, Erie, and Western Reserve also are some of the more affordable Indiana auto insurance companies.
As the example above demonstrates, if you buy coverage from Western Reserve and switched to Cincinnati Insurance, you might achieve annual savings of roughly $180. Insureds with The Hartford could save as much as $197 a year, and Indiana Farmers Mutual customers might lower prices by $217 a year.
Remember that these policy prices are averages across all insureds and vehicles and do not take into consideration a rate decrease for inexperienced drivers. So the car insurance company that fits your situation best may not even be in the top 36 companies shown above. That point stresses why you need to compare prices as often as possible using your own driver data and vehicle information.
Get discounts on Indiana insurance
Insurers that provide policies for inexperienced drivers may also give you policy discounts that can reduce rates by 40% or more if you meet certain criteria. A few of the larger companies and some of the discounts are shown below.
- Farm Bureau offers discounts including multi-policy, youthful driver, good student, safe driver, multi-vehicle, and driver training.
- State Farm may have discounts that include defensive driving training, driver's education, Drive Safe & Save, multiple policy, student away at school, and anti-theft.
- Progressive may offer discounts for multi-policy, homeowner, good student, online quote discount, continuous coverage, online signing, and multi-vehicle.
- Allstate policyholders can earn discounts including good student, premier plus, safe driver, multi-policy, and auto/life discount.
- Nationwide includes discounts for good student, defensive driving, anti-theft, accident-free, business or organization, and easy pay.
- MetLife discounts include good driver, accident-free, good student, multi-policy, claim-free, defensive driver
The diagram below illustrates the comparison of insurance prices with and without discounts applied to the policy rates. The prices are based on a female driver, no tickets, no at-fault accidents, Indiana state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with defensive driving course, anti-theft, homeowner, claim-free, multiple vehicle, and multiple policy discounts applied. When these discounts are applied, the the amount saved on auto insurance for inexperienced drivers is 28% or $312.
Impact of speeding/accidents on Indiana auto insurance rates
One of the best ways to get the cheapest auto insurance premiums for new drivers is to be a good driver and have a clean driving record. The information below demonstrates how traffic citations and at-fault accidents can drive up car insurance rates for each different age category. The rate quotes are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.
In the example above, the average cost of an auto insurance policy in Indiana per year with no accidents or violations is $1,771. Receive two speeding tickets and the average cost surges to $2,338, an increase of $567 each year. Then include one accident along with the two speeding tickets and the 12-month cost of auto insurance for inexperienced drivers in Indiana goes up to an average of $2,922. That's an increase of $1,151, or $96 per month, just for not paying attention while driving!
A good deal can quickly turn bad
Indiana auto insurance rates are influenced by many factors that can increase the cost of a policy. Improving your credit rating, moving across town, or getting a driving violation may generate price changes that can now make some companies more affordable than before. Not only may your risk profile change, but companies change prices as often as every quarter in order to remain profitable. Heavier than normal losses can cause higher prices, while profitable underwriting may cause lower-priced Indiana car insurance rates.
As an example, the data below shows a variety of companies that have the cheapest car insurance in Indiana for a 30-year-old male driver with no prior claims, no tickets, and great credit. If we look at prices based on his current risk factors, Travelers may have the cheapest car insurance rates in Indiana at $620 annually. This is $620 less than the average price paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve are the remaining most affordable Indiana auto insurance companies.
Now we will pretend the driver in the first example a chargable claim, a lower credit rating, and an imperfect driving record. Since every car insurance company has their own guidelines to determing premium rates, comparing insurance quotes could result in a slightly different list of affordable companies as shown below.
The Hartford now has the cheapest rate in Indiana with USAA, Auto-Owners, Cincinnati Insurance, and Utica National completing the list. This shows why consumers need to spend some time comparing rates when trying to find the most budget-friendly auto insurance quotes for inexperienced drivers. Prices are influenced by many factors and can decrease or increase without notice, so the most affordable company the last time you shopped around may now not even be in the top five.