Deciphering which companies quote the most affordable insurance rates in Lafayette calls for a little more work than just quoting one company's rates. Every auto insurer used slightly different criteria for establishing rates, so to begin we'll rank the insurance companies with the overall cheapest rates in Lafayette, IN.

We do need to point out that Indiana insurance rates are calculated based on many things which can significantly increase or decrease the price of coverage. Getting older, moving across town, or getting a driving violation can trigger price changes that can make some companies more affordable than the competition.

Cheapest Indiana car insurance ranked by price
Rank Company Cost Per Year
1 Travelers $614
2 USAA $681
3 Cincinnati Insurance $684
4 Erie $712
5 Western Reserve $846
6 The Hartford $863
7 Indiana Farmers Mutual $875
8 Auto-Owners $879
9 Utica National $956
10 Motorists Mutual $956
11 State Farm $957
12 Nationwide $968
13 Safeco $983
14 Hastings Mutual $1,013
15 Farmers $1,022
16 Westfield $1,094
17 Wolverine Mutual $1,105
18 State Auto $1,120
19 GEICO $1,122
20 Progressive $1,139
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Travelers generally has some of the most affordable car insurance rates in Lafayette at around $614 each year. This is $626 less than the average policy premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve also qualify as some of the more affordable Lafayette, IN auto insurance companies.

In the above example, if you currently buy coverage from Western Reserve and switched to USAA, you might achieve an annual savings of around $165. Drivers with The Hartford could save as much as $182 a year, and Indiana Farmers Mutual policyholders might reduce rates by $194 a year.

Bear in mind that those premiums are averages for all drivers and vehicles and do not factor in a specific zip code in Lafayette. So the insurer that has the cheapest rates for you may not even be in the top 36 companies in the list above. That is why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.

One of the many criteria that determine the annual cost of car insurance is your zip code. Areas with high crime rates or more dense population are more likely to pay higher prices, whereas areas with less congestion have the benefit of cheaper car insurance.

The next table sorts the most expensive places in Indiana to purchase car insurance in. Lafayette shows up at #25 with an annual rate of $926 for the average insured, which is approximately $77 monthly.

Car insurance prices in Lafayette
Rank City Annual Premium
1 Gary $1,388
2 Hammond $1,288
3 Merrillville $1,106
4 Lawrence $1,099
5 Portage $1,093
6 Evansville $1,087
7 Indianapolis $1,082
8 Jeffersonville $1,080
9 Terre Haute $1,067
10 New Albany $1,028
11 Anderson $1,001
12 Kokomo $1,001
13 Elkhart $985
14 Fishers $983
15 Columbus $975
16 Mishawaka $974
17 Richmond $973
18 Bloomington $968
19 Noblesville $958
20 Fort Wayne $947
21 South Bend $947
22 Muncie $937
23 Greenwood $931
24 Carmel $929
25 Lafayette $926
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Price information shown is approximated as the specific area where the vehicle is garaged can impact auto insurance rates considerably.

The make and model of vehicle driven is probably the biggest factor when trying to find the most affordable car insurance in Lafayette. Vehicles with more horsepower, a lack of safety features, or a history of substantial liability claims will cost significantly more to insure than more modest models. The next table features car insurance costs for the cheapest automobiles to buy insurance for.

Cheapest Vehicles to Insure in Lafayette, IN
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda CR-V EX-L 2WD $806
Ford Escape XLT 2WD $860
Dodge Grand Caravan SE $884
Chevrolet Impala LS $916
Ford Edge SEL AWD $926
GMC Sierra SLE Crew Cab 2WD $934
Volkswagen Jetta S 2.5 Station Wagon $936
Toyota Tacoma Double Cab TRD Sport Package 4WD $950
Toyota Prius $956
Ford Focus SEL 4-Dr Sedan $966
Chevrolet Silverado LS Crew Cab 4WD $1,000
Chevrolet Equinox LTZ 2WD $1,005
Jeep Wrangler Unlimited Sahara 4WD 4-Dr $1,012
Jeep Grand Cherokee Laredo 2WD $1,020
Toyota RAV4 Sport 4WD $1,025
Toyota Camry LE $1,020
Chevrolet Malibu LS $1,052
Ford F-250 XL Super Cab Cabela Package 2WD $1,066
Toyota Camry Hybrid $1,073
Ford Explorer Eddie Bauer AWD $1,076
Hyundai Elantra Blue 4-Dr Sedan $1,084
Hyundai Sonata GLS 4-Dr Sedan $1,090
Ford F-150 Lariat Crew Cab Harley 2WD $1,096
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Premium 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 claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Rate quotes do not factor in zip code location which can raise or lower coverage rates noticeably.

Based upon these rates, we can tell that vehicles like the Honda CR-V, Ford Escape, and Dodge Grand Caravan will be some of the more affordable vehicles to insure for drivers in Lafayette.

The illustration below demonstrates how deductible levels can influence insurance costs when researching cheap insurance in Lafayette. The premiums assume a single female driver, full coverage, and no additional discounts are factored in.

The data above shows that a 50-year-old driver could lower their policy premium by $300 a year by increasing from a $100 deductible to a $500 deductible, or save $454 by changing to a $1,000 deductible. Young drivers, like the 20-year-old example, could save up to $772 or more by choosing a higher deductible. When raising deductibles, it's a good idea to have plenty of money set aside to enable you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Violations and accidents raise rates

The best way to maintain low auto insurance prices in Indiana for drivers in Lafayette is to be an attentive driver and not have accidents or get tickets. The illustration below illustrates how speeding tickets and at-fault fender-benders impact insurance rates for each age group. Data assumes a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.

In the previous chart, the average cost of auto insurance per year with no violations or accidents is $1,008. Get two speeding tickets and the average cost jumps to $1,379, an increase of $371 each year. Now include two accidents along with the two speeding tickets and the annual cost of auto insurance in Lafayette goes up to an average of $2,936. That's an increase of $1,928, or $161 per month, just for not maintaining a clean driving record!

Tips for finding the cheapest insurance in Lafayette

It's not impossible to find cheaper rates, and here are many thrifty suggestions that can help drivers buy cheaper auto insurance.

That last piece of advice is incredibly important, as we stressed in this piece. Prices adjust often, so you should be ready to change to a new company if a better deal can be had. Having brand loyalty is commendable, but is isn't recommended if that inflexibility results in costing you hundreds of dollars year after year. If you have a few minutes, now is a great time to compare rates to find cheaper insurance in Lafayette.