For drivers in Lawrence, one of the largest factors that are looked at to determine the amount you pay for auto insurance is where you live. More populated areas tend to pay more, whereas areas that tend to be more rural profit from lower rates.
The table below lists the most expensive cities in Indiana in which to purchase auto insurance. Lawrence ranks #5 with a yearly cost of $1,099 for the average insured, which is about $92 monthly.
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Premium costs are comparative as specific Lawrence zip code can lower or raise insurance rates substantially.
Since we know where Lawrence ranks compared to other Indiana cities, figuring out which companies quote the lowest-priced car insurance rates in Lawrence requires a little more effort in order to find the lowest price. Each auto insurer uses a different method to determine rates, so to begin we'll rank the lowest cost car insurance companies in Indiana.
It's important to understand that Indiana car insurance rates are impacted by many factors that control the price you pay. Simply having a birthday, adding a teenager to your policy, or having an accident may cause policy rate changes that can cause some rates to be more affordable than others.
Find the Cheapest Auto Insurance in Lawrence
|Rank||Company||Cost Per Year|
|7||Indiana Farmers Mutual||$875|
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Travelers offers some of the lowest car insurance rates in Lawrence at around $620 a year. This is $620 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and The Hartford also make the cut as some of the cheaper Lawrence, IN insurance companies.
As shown in the table above, if you are insured with Erie and switched to Travelers, you might see a yearly savings of in the vicinity of $92. Insureds with The Hartford may save as much as $235 a year, and Western Reserve insureds might lower prices by up to $252 a year.
Remember that these premiums are averaged for all drivers and vehicles and do not factor in a specific vehicle garaging location in Lawrence. So the car insurance company that fits your age and vehicle best may not even be in the top 36 companies in the list above. That's why you need to get rate quotes from many companies using your own driver information and specific vehicle type.
The car, truck, or SUV you are insuring is a large consideration when comparing quotes for the lowest-priced car insurance in Lawrence. Vehicles with economical engines, advanced safety features, or a low likelihood of liability claims will cost less to insure than high performance models.
The next list presents coverage premiums for some of the most cost-effective automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$941|
|Honda Accord EX 4-Dr Sedan||$951|
|Honda CR-V LX 2WD||$1,027|
|Hyundai Elantra GLS Touring Station Wagon||$1,033|
|Ford Explorer XLT AWD||$1,055|
|Honda Odyssey EX W/Rear Entertainment||$1,091|
|Jeep Grand Cherokee Laredo 2WD||$1,115|
|Chevrolet Impala LTZ||$1,174|
|Ford Edge SEL AWD||$1,188|
|Chevrolet Silverado LS Crew Cab 4WD||$1,195|
|Chevrolet Malibu Hybrid||$1,214|
|Nissan Altima 2.5 4-Dr Sedan||$1,219|
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Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Table data does not factor in specific location information which can raise or lower price quotes substantially.
Looking at the numbers, you can presume that makes and models like the Ford Escape, Honda Accord, Honda CR-V, and Hyundai Elantra are going to be a few of the most budget-friendly vehicles to insure for drivers in Lawrence.
The illustration below shows how different deductible levels can increase or decrease premium costs when researching cheap insurance in Lawrence. The information is based on a married male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
The data above shows that a 50-year-old driver could pocket $198 a year by switching from a $100 deductible up to a $500 deductible, or save $296 by switching to a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could roll back prices up to $652 or even more by using higher deductibles when buying full coverage.
When choosing a higher deductible, it will be required to have enough in a savings account to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Impact of speeding/accidents on Lawrence insurance rates
The ideal way to receive cheap insurance prices in Lawrence for drivers in Lawrence is to be a good driver and avoid getting tickets or having accidents. The illustration below demonstrates how traffic citations and at-fault collisions influence premium costs for each different age category. The rates are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
In the chart above, the average cost of an auto insurance policy in Indiana per year with no accidents and a clean driving record is $1,683. Factor in two speeding tickets and the average cost swells to $2,323, an increase of $640 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of insurance in Lawrence goes up to an average of $4,711. That's an increase of $3,028, or $252 per month, just for being a less-than-perfect driver!
Types of discounts on Lawrence car insurance rates
Insurance companies that provide coverage in Lawrence may have premium discounts that can lower rates by 25% or more if you qualify. A few of the larger companies and a selection of discounts can be read below.
- Farm Bureau offers premium reductions for multi-vehicle, safe driver, youthful driver, 55 and retired, and driver training.
- MetLife has savings for defensive driver, multi-policy, claim-free, accident-free, good driver, and good student.
- Progressive offers discounts for continuous coverage, multi-vehicle, good student, online quote discount, online signing, and multi-policy.
- AAA may offer discounts for pay-in-full, multi-car, education and occupation, multi-policy, AAA membership discount, and anti-theft.
- American Family may have discounts that include good driver, good student, TimeAway discount, bundled insurance, defensive driver, Steer into Savings, and early bird.
- GEICO offers discounts including multi-policy, good student, five-year accident-free, military active duty, driver training, multi-vehicle, and anti-lock brakes.
- State Farm policyholders can earn discounts including accident-free, Drive Safe & Save, Steer Clear safe driver discount, defensive driving training, and multiple autos.
The information below shows the comparison of insurance premiums with and without policy discounts. The premiums are based on a male driver, no claims or driving citations, Indiana state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, multiple vehicle, passive restraint, vehicle safety, safe-driver, and claim-free discounts applied. When taking advantage of discounts, the the amount saved on insurance in Lawrence is 28% or $328.