The make and model of vehicle requiring coverage is one of the largest factors when trying to find the best coverage for teenagers. Vehicles with more horsepower, a lack of advanced safety features, or high incidents of liability claims will cost much more to insure than safer, lower-performance models. The data below features insurance rates for a number of the more afforable vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Dodge Grand Caravan CV||$615|
|Honda CR-V EX 2WD||$627|
|Ford F-150 XLT Super Cab 4WD||$637|
|Ford Edge SE AWD||$635|
|Chevrolet Impala LT||$648|
|Ford Focus SEL 4-Dr Sedan||$669|
|Honda Accord LX 4-Dr Sedan||$672|
|Hyundai Sonata GLS 4-Dr Sedan||$697|
|Ford Explorer XLT 2WD||$704|
|Ford Escape Limited 4WD||$729|
|Chevrolet Malibu LS||$743|
|Chevrolet Equinox LT 2WD||$753|
|Kia Optima EX||$743|
|Chevrolet Silverado LS Regular Cab 2WD||$744|
|Toyota Tacoma X-Runner 2WD||$781|
|Hyundai Elantra SE 4-Dr Sedan||$789|
|Toyota RAV4 Limited 4WD||$795|
|Volkswagen Jetta SEL 4-Dr Sedan||$796|
|Honda Odyssey EX-L W/Navigation||$838|
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in vehicle garaging location which can decrease or increase auto insurance rates noticeably.
Looking at the numbers, you can figure that models like the Dodge Grand Caravan, Honda CR-V, Ford F-150, Ford Edge, and Chevrolet Impala should be a few of the less-costly vehicles to insure for teen drivers.
Establishing which insurers offer the most affordable auto insurance rates for teenagers in Indiana will require a little more effort in order to find the most economical policy. Each insurance company uses their own calculation for determining rates, so we'll take a look at the lowest cost auto insurance companies in Indiana.
Find the Cheapest Auto Insurance for Teens
|Rank||Company||Cost Per Year|
|7||Indiana Farmers Mutual||$867|
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Travelers may offer some of the most affordable car insurance rates in Indiana at around $614 annually. This is $626 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and The Hartford would also make the list of some of the cheaper Indiana car insurance companies.
As the example above demonstrates, if you buy coverage from The Hartford and switched to Cincinnati Insurance, you may see savings of approxmiately $205. Customers with Western Reserve could save as much as $206 a year, and Indiana Farmers Mutual policyholders might reduce rates by $209 a year.
Understand that those premium estimates are averaged across all insureds and vehicles and are not factoring in a rate discount for teenagers. So the car insurance company that has the cheapest price for you may not even be in the list above. That is why you need to get auto insurance quotes using your own individual information.
For teen drivers, one of the more important things that determine insurance cost is where you live in Indiana. Areas with increased crime or more people like Gary, Merrillville, and Lawrence tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The next table rates the highest-priced places in Indiana for teenagers in which to purchase auto insurance.
|Rank||City||Premium Per Year|
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Information shown are estimated as the vehicle garaging location can influence insurance rates considerably.
Illustration showing the impact of accidents and violations
A great way to get the best auto insurance premiums for teen drivers is to be a cautious driver and avoid traffic citations and accidents. The example below illustrates how traffic citations and accidents impact insurance costs for each age group. The rates are based on a single female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.
In the chart above, the average cost of an auto insurance policy in Indiana per year with a clean driving record and no accidents is $1,265. Get two speeding tickets and the average cost rises to $1,690, an increase of $425 each year. Now throw in one accident along with the two speeding tickets and the yearly cost of auto insurance for teenagers in Indiana goes up to an average of $2,115. That's an increase of $851, or $71 per month, just for not driving responsibly!
Selecting the best insurer can be rather challenging considering how many companies there are to choose from in Indiana. The company ratings in the lists below could help you select which car insurance companies you want to consider when shopping insurance around for teenagers.
These ratings only include major nationwide insurance companies, so companies that focus mainly on Indiana business are not included in this list. If you wish to compare rates from these and other top-rated companies, simply click here.
Top 10 Major Auto Insurance Companies Overall in Indiana
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
Top 10 Major Auto Insurance Companies in Indiana Ranked by A.M. Best Rating
- USAA - A++
- GEICO - A++
- Travelers - A++
- State Farm - A++
- Allstate - A+
- Progressive - A+
- Erie Insurance - A+
- The Hartford - A+
- Nationwide - A+
- Esurance - A+
The chart below highlights how deductible choice can influence yearly insurance costs when trying to find cheap insurance for teenagers in Indiana. The rates are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
The chart above illustrates that a 40-year-old driver could lower rates by $272 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $412 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, can cut up to $912 or more by selecting a higher deductible.
If you do make the decision to raise your deductibles, it's a good idea to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.