For people with poor credit, one of the big criteria that aid in calculating car insurance rates is where you live in Indiana. Areas with high crime rates or more dense population like Gary, Portage, and Merrillville are more likely to pay higher prices, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive cheaper rates.
The information below ranks the highest-priced places in Indiana for drivers with bad credit in which to buy car insurance.
|Rank||City||Premium Per Year|
|Start a Quote Go|
Rates are approximated as the specific geographic location can increase or decrease premium rates considerably.
Trying to find low-priced auto insurance is not easy, and figuring out which company offers the best insurance rates for drivers with bad credit in Indiana takes even more perseverance. Insurance premiums will more than likely be slightly more than the average price in Indiana, with the increase attributed to the potentially higher risk associated with offering insurance for people with poor credit, but reasonably-priced insurance should be possible if you look hard enough. Each insurer has a proprietary method for determining rates in each state, so let's take a look at the insurance companies with the most affordable rates in Indiana.
Cheap Insurance Rates with Bad Credit
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$841|
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Travelers normally has some of the best car insurance rates in Indiana at around $602 each year. This is $638 less than the average policy premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual would also be considered some of the cheapest Indiana car insurance companies.
As shown in the table above, if you buy coverage from Erie and switched to Travelers, you could earn savings of around $103. Insureds with Indiana Farmers Mutual may save as much as $239 a year, and Western Reserve insureds might lower prices by up to $262 a year.
To see how much you can save, click here to start a quote or click several companies below for low rates.
It's important to note that these estimates are averages for all ages of drivers and types of vehicles and do not factor in a rate surcharge for drivers with bad credit. So the company that fits your situation best may not even be in the top 36 companies in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.
Impact of citations and accidents on Indiana insurance rates
In a perfect world, the best way to find low insurance premiums in Indiana for people with poor credit is to be a safe driver and avoid at-fault accidents and violations. The information below illustrates how traffic citations and accident claims can increase yearly insurance costs for each different age group. The costs are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
The data above shows the average cost of a car insurance policy in Indiana per year with no accidents or violations is $1,506. Add in two speeding tickets and the average cost rises to $2,073, an increase of $567 each year. Then throw in one accident along with the two speeding tickets and the annual cost of insurance for drivers with bad credit in Indiana increases to an average of $2,655. That's an increase of $1,150, or $96 per month, just for not being a responsible driver!
Selecting the best auto insurance company is hard considering how many companies provide coverage in Indiana. The rank data displayed below could help you decide which auto insurers to look at purchasing from.
These rankings are only comprised of companies that insure vehicles nationwide, so companies that may only write in Indiana are not included in this list. If you wish to compare prices from these and other companies in Indiana, click this link.
Top 10 Large Car Insurance Companies Overall in Indiana
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
Discounts on Indiana car insurance
Insurance providers that offer coverage for drivers with bad credit may have discounts that could lower prices by as much as 25% or more if you can meet the requirements. Companies and some of the discounts are detailed below.
- 21st Century offers premium reductions for student driver, automatic seat belts, early bird, defensive driver, and driver training.
- State Farm offers discounts for anti-theft, multiple policy, accident-free, multiple autos, passive restraint, defensive driving training, and Drive Safe & Save.
- AAA may have discounts that include anti-theft, good student, multi-policy, good driver, education and occupation, and multi-car.
- Liberty Mutual includes discounts for good student, new vehicle discount, new move discount, multi-car, and new graduate.
- Progressive has discounts for homeowner, online quote discount, multi-policy, multi-vehicle, continuous coverage, and good student.
The information below illustrates the comparison of yearly insurance costs with and without discounts applied to the premium. The price estimates are based on a male driver, no violations or accidents, Indiana state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with claim-free, safe-driver, passive restraint, homeowner, defensive driving course, and vehicle safety discounts applied. When taking advantage of discounts, the the average yearly reduction on insurance for drivers with bad credit is 28% or $600.