For Lyft vehicles, one of the more important criteria that are used to help calculate car insurance rates is where your car is garaged. Cities with more crime and/or more people like Gary, Portage, and Jeffersonville tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The following table ranks the most expensive areas in Indiana for Lyft drivers to purchase auto insurance in.
|Rank||City||Premium Per Year|
|Compare Rates Now Go|
Premium amounts are estimated as the specific geographic location can decrease or increase price quotes noticeably.
Deciding which insurers offer the lowest-priced car insurance rates for Lyft drivers in Indiana calls for a bit more work in order to find the lowest price. Each auto insurance company used slightly different criteria to determine premium rates, so let's take a look at the most budget-friendly car insurance companies in Indiana.
Find Cheaper Car Insurance for Your Lyft Vehicle
|Rank||Company||Cost Per Year|
|6||Indiana Farmers Mutual||$849|
|Find Cheaper Rates Go|
Travelers quotes some of the cheapest car insurance rates in Indiana at around $614 per year. This is $626 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are also some of the most economical Indiana insurance companies.
As illustrated above, if you buy coverage from Cincinnati Insurance and switched to Travelers, you could realize annual savings of in the vicinity of $44. Drivers with USAA could save as much as $73 a year, and Erie insureds might see rate reductions of $119 a year.
Be aware that those premiums are averaged for all drivers and vehicles in Indiana and do not factor in a price discount for Lyft drivers. So the auto insurance company that fits your needs best may not even be in the top 36 companies in the list above. That is why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
How to get discounts on Indiana insurance rates
Auto insurance companies that sell policies for Lyft drivers may also offer special discounts that may potentially lower prices by as much as 30% if you meet certain criteria. Popular car insurance companies and some of the premium reductions they offer are included below.
- American Family may have discounts that include bundled insurance, air bags, mySafetyValet, good driver, and Steer into Savings.
- State Farm policyholders can earn discounts including driver's education, multiple policy, accident-free, good driver, good student, and student away at school.
- 21st Century has savings for student driver, early bird, driver training, homeowners, 55 and older, and theft prevention.
- Travelers may include discounts for hybrid/electric vehicle, home ownership, payment discounts, driver training, new car, and early quote.
- GEICO offers discounts including multi-policy, seat belt use, defensive driver, multi-vehicle, emergency military deployment, and anti-theft.
The illustration below illustrates the difference between auto insurance costs with and without discounts applied. The data assumes a female driver, a clean driving record, no claims, Indiana state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with anti-theft, multiple policy, safe-driver, accident-free, claim-free, and marriage discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on car insurance for Lyft drivers is 28% or $527.
How careless driving impacts Indiana car insurance rates
One of the best ways to maintain low car insurance premiums in Indiana for Lyft vehicles is to drive safe and avoid accidents and traffic citations. The information below highlights how speeding tickets and at-fault fender-benders can raise insurance prices for each age group. The rates are based on a married male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
The data above shows the average cost of auto insurance per year with no accidents and a clean driving record is $1,091. Add in two speeding tickets and the average cost surges to $1,499, an increase of $408 each year. Then include one accident along with the two speeding tickets and the 12-month cost of car insurance for Lyft drivers in Indiana jumps again to an average of $1,912. That's an increase of $821, or $68 per month, just for not maintaining a clean driving record!
Picking a high-quality auto insurance provider is difficult considering how many choices there are in Indiana. The company ratings in the lists below may help you select which coverage providers to look at comparing rates from.
The ratings below are only comprised of companies that insure vehicles nationwide, so companies without a large exposure are not taken into consideration for the list. To check rates from these and other companies in Indiana, just click here.
Top 10 Major Auto Insurance Providers 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+
Top 10 Major Auto Insurance Providers in Indiana Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Ideas for finding more affordable auto insurance for Lyft drivers
It is possible to find better rates, and here are a few money-saving suggestions that can help drivers locate cheap coverage.
- Avoid preventable accidents
- Get cheaper liability coverage by choosing a safer vehicle
- Bundle home or renters insurance to earn a discount on car insurance
- Pay lower rates with good credit
- Full coverage is expensive so only insure older vehicles for liability only
- Compare prices as often as possible
That last tip is notably valuable, as was affirmed in the article above. Prices charged by companies adjust often, so you should be ready to buy a different policy if you find a better deal. Many drivers have brand loyalty and that's fine, but it's not a good idea if that loyalty ends up costing big bucks every year. It only takes a couple minutes to shop around to find cheaper car insurance for Lyft drivers.