The car, truck, or SUV to be insured is one of the main factors when consumers are trying to find cheap insurance after a speeding ticket. Vehicles with high performance features, a lack of safety features, or an increased likelihood of liability claims will cost much more to insure than more modest models. The next table illustrates insurance prices for the cheapest vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$845|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$867|
|Ford Escape Limited 4WD||$922|
|Chevrolet Equinox LS 2WD||$936|
|Honda Odyssey EX W/Rear Entertainment||$981|
|Ford Edge Limited 2WD||$987|
|Chevrolet Silverado LT Extended Cab 2WD||$1,001|
|Chevrolet Malibu Hybrid||$1,009|
|Toyota RAV4 Sport 4WD||$1,001|
|Jeep Grand Cherokee SRT-8 4WD||$1,006|
|Dodge Ram Quad Cab SLT 4WD||$1,020|
|Toyota Tacoma Double Cab 4WD||$1,028|
|Ford Explorer Eddie Bauer AWD||$1,020|
|Chevrolet Impala LT||$1,021|
|Dodge Grand Caravan Hero||$1,029|
|Ford F-150 Lariat King Ranch 4WD||$1,023|
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Data rating is based on single male driver age 30, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, and homeowner. Rate information does not factor in your specific Indiana location which can raise or lower price quotes significantly.
Looking at the rates, we can conclude that models like the Honda CR-V, Jeep Wrangler, Toyota Prius, Ford Escape, and Chevrolet Equinox are most likely going to be some of the most economical vehicles to insure after a few driving violations.
Trying to buy budget insurance is not always easy, and figuring out which company quotes the lowest-priced car insurance rates after a speeding ticket in Indiana will require a little more work. Each auto insurer has a different process to set their prices, so let's take a look at the most budget-friendly car insurance companies in Indiana.
It's important to understand that Indiana car insurance rates are determined by lots of factors that control the cost of a policy. Improving your financial situation, buying a newer car, or getting into an accident can trigger changes in premium resulting in some companies being more affordable than competitors.
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|Rank||Company||Cost Per Year|
|6||Indiana Farmers Mutual||$875|
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Travelers may have some of the best car insurance rates in Indiana at around $596 per year. This is $644 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve also are some of the best Indiana car insurance companies.
In the rate table above, if you currently have a policy with Western Reserve and switched to Cincinnati Insurance, you may realize yearly savings of in the neighborhood of $182. Insureds with Indiana Farmers Mutual could save as much as $211 a year, and Auto-Owners insureds might reduce prices by as much as $215 a year.
Bear in mind that those rates are averages across all types of drivers and the different vehicles they drive and and are not figured with a rate decrease after a speeding ticket. So the car insurance company that fits your situation best may not even be in the list above. That's why you need to compare as many prices as possible using your own driver information and specific vehicle type.
One of the many components that determine car insurance rates is where you call home. Areas with high crime rates or more dense population like Gary, Merrillville, and Terre Haute tend to have more expensive car insurance rates, whereas areas with lower crime rates and fewer weather claims receive better rates.
The next table ranks the highest-priced places in Indiana after a speeding ticket to purchase a policy in.
|Rank||City||Premium Per Year|
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Table data uses approximated as the specific Indiana residence address can impact prices noticeably.
Indiana car insurance companies ranked
Selecting the right car insurance company can be difficult considering how many choices you have in Indiana. The company rank data in the next section may help you analyze which companies you want to consider comparing prices from. These rankings are for the largest companies in America, so companies that may only write in Indiana are not taken into consideration for these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The information below demonstrates how choosing different deductibles can change annual premium costs when searching for cheap insurance after a speeding ticket in Indiana. Data assumes a single female driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 50-year-old driver could lower their policy premium by $300 a year by changing from a $100 deductible to a $500 deductible, or save $454 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could potentially save $772 or even more just by choosing larger deductibles.
If you do decide to increase your deductibles, it is important to have spare funds to enable you to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
Your cheap policy may actually be overpriced
Indiana car insurance rates are based on many factors that will increase or decrease the price you pay. Getting older, having a claim, or getting a ticket for running a stop sign may cause policy rate changes that can cause some rates to be cheaper than before.
Additionally, insurance companies change the rates they charge in Indiana every year or even multiple times each year to adjust for heavy claims or excess profits. Significantly higher losses can result in higher priced premiums, while a lower level of claims may result in lower-priced Indiana car insurance rates.
To help illustrate this point, the chart below shows the company with the cheapest car insurance in Indiana for a 40-year-old male driver with no accidents or violations, and a good credit rating. If we compare prices based on his personal profile, Travelers quotes the lowest car insurance rates in Indiana at $602 each year. This is $638 less than the average rate paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual are the remaining cheapest Indiana auto insurance companies.
In this next rate comparison, we will give the driver from above a chargable accident, a lower credit score, and a few blemishes on his driving record. Due to the fact that every auto insurer has a proprietary method for filing rates in each state, comparing quotes could now result in a different set of affordable companies as shown below.
Auto-Owners now has the cheapest rate in Indiana with The Hartford, Cincinnati Insurance, State Farm, and Nationwide now rounding out the top five. This example shows why it is crucial to compare as many rates as possible when trying to find the best car insurance rates after a speeding ticket. Car insurance prices are made up of many factors and change dramatically, so the most economical option when you last compared rates may now be costing you a lot of money.