A decade ago, Indiana had a poor record for uninsured drivers and car insurance rates in Indiana reflected this – with the insured drivers covering the costs incurred by those less responsible. Now, due to tough penalties for driving without auto insurance in Indiana and the introduction of alternative means of proving financial responsibility, the percentage of uninsured drivers has decreased and auto insurance rates in Indiana have fallen below the national average as a result.
Alternative options exist to deposit $40,000 with the State Treasurer or establish a trust fund with a market value of the same amount. It is also possible to prove financial responsibility by having a bond issued by a surety company, but because these alternatives require a substantial financial outlay car insurance in Indiana is still the most popular way of demonstrating financial responsibility in the event of a road traffic accident.
Indiana Car Insurance Requirements
Despite this reduction in uninsured drivers, auto insurance companies in Indiana are still required to submit your Indiana car insurance quote with the inclusion of uninsured/underinsured protection for the amounts of $25,000/$50,000. You are not required to take it, but it will protect you and your family in the event of a no-fault accident where the other driver has insufficient coverage.
Other minimum liability limits for auto insurance in Indiana:-
$25,000 for injury/death to one person
$50,000 for injury/death to more than one person
$10,000 for damage to property
Indiana Auto Insurance Laws
The State of Indiana requires that you carry evidence of car insurance (or alternative evidence of financial responsibility) in your vehicle at all times. If you are stopped without it, you have 40 days in which to demonstrate that you had Indiana auto insurance at the time you were stopped or face a 90 day suspension and $150.00 first offence fine. Subsequent fines increase to $300.00, and being stopped without proof of financial responsibility twice in three years carries an automatic one year suspension of your vehicle registration and driving license.
If you are stopped in a vehicle which is not your own, the vehicle owner´s Indiana car insurance policy has to include guest driver liability or the driver has to have an auto insurance policy which covers any vehicle the driver operates. Should you be suspended from driving for breach of Indiana auto insurance laws, you will be required to get an SR-22 form from your insurance provider and keep it on record with the Indiana Department of Motor Vehicles for three years.
Recommended Indiana Car Insurance Coverage
Despite the minimum insurance liability limits in Indiana being sufficient to cover most road traffic events, it is recommended that you increase your Indiana car insurance coverage to $50,000/$100,000. The double increase in coverage is not reflected in double insurance rates, and also demonstrates responsibility – a factor which auto insurance companies in Indiana value highly.
Residents of Indianapolis and those who live in the north-west and south-east of the State may also want to consider fully comprehensive car insurance, for although the rate of vehicle theft in Indiana is generally remarkably low, districts in the State capital and close to the metropolitan areas of Chicago (Illinois) and Cincinnati (Ohio) suffer from a high level of car theft.
Cheap Indiana Car Insurance Quotes
There are a number of steps you can take to benefit from cheap Indiana car insurance quotes. First, always maintain proof of financial responsibility in your vehicle to avoid the risk of being stopped and failing to produce evidence within the 40 day limit – SR-22 insurance can attract a premium of up to 50 per cent on regular Indiana auto insurance. Secondly, take advantage of defensive driving courses which can qualify you for car insurance discounts in Indiana of up to 15 per cent.
Car insurance companies in Indiana will also offer discounts for vehicles which have additional safety features fitted (such as air bags and daytime running lights) or if you combine your household contents insurance with an Indiana auto insurance policy. Drivers considering fully comprehensive car insurance policies in Indiana may also wish to speak with their insurance provider to see how much they could save on the Indiana auto insurance by increasing the deductable.
Indiana Car Insurance Ratings
The auto insurance quotes you receive from car insurance companies in Indiana will be based on your insurance “rating”. This rating is an amalgamation of factors which Indiana car insurance companies believe represents the risk they are taking when insuring you to drive and is based on historical factors relating to your age, gender, occupation and location.
In the State of Indiana, car insurance companies are allowed to use Personal Credit History – specifically credit scores – to determine what auto insurance rates to apply to you. Along with many other States, Indiana car insurance companies are influenced by a responsible financial history. They believe that this is transferred onto your responsibility on the road.
Other factors Indiana auto insurance companies may use to determine rates include:-
- Type of Car – As mentioned above, even though you may have a more recent and more valuable car than your neighbor, you will enjoy cheaper Indiana car insurance rates if you have additional safety and security devices fitted.
- Use of Car – If you only use your vehicle for recreational purposes, you can benefit from “pay-as-you-drive” auto insurance in Indiana. These usage based insurance policies can save you up to 50 per cent on regular auto insurance rates in Indiana.
- Car Storage – If you park your car after each time you use it in a private locked garage, some Indiana insurance companies will offer you discounts – even when you do not have comprehensive auto insurance coverage.
- Marital Status – It was also mentioned above that Indiana auto insurance companies value responsibility highly, and being married is considered to make you a more responsible driver than if you are single. The benefits continue when you start to raise a family.
- Driving History – Indiana car insurance discounts are also available to those who maintain an impeccable driving history. Young drivers in Indiana have a poor record of driving under the influence (DUI), and a conviction for this offense will have an impact on your car insurance rates in Indiana for up to seven years.
Most Stolen Vehicles in Indiana
Each year the National Insurance Crime Bureau (NICB) publishes a list of the most commonly stolen vehicles in each State. Car theft in Indiana is generally concentrated around Indianapolis and the borders with Illinois and Ohio, but your auto insurance premium in Indiana may well be negatively affected if you drive one of these vehicles.
The list of most frequently stolen vehicles in Indiana for 2010 is as follows:-
- Chevrolet Pick-Up
- Ford Taurus
- Oldsmobile Cutlass
- Ford F150 Pick-Up
- Chevrolet Impala
- Ford Explorer
- Pontiac Grand Am
- Dodge Ram
- Dodge Caravan
- Pontiac Grand Prix
Where Your Car May Get Stolen in Indiana
The NICB also publishes a list of the 360 national metropolitan districts in which auto theft per capita is highest. Residents of Indianapolis will not be surprised to see their metropolitan district at the top of the list, but those in Columbus may – despite only 141 reported car thefts thru 2010. This is due to the smaller population demographic and higher “per capita” ranking.
The NICB´s “Hot Spots” for Indiana in 2010 (with national position in brackets):-
- Indianapolis (42)
- Louisville (96)
- Terre Haute (102)
- Michigan (115)
- Anderson (163)
- Columbus (164)
- South Bend (167)
- Muncie (189)
- Elkhart (202)
- Evansville (212)
- Lafayette (249)
- Bloomington (254)
- Fort Wayne (257)
- Kokomo (279)
Typical Indiana Insurance Rates
There is a wide variation in average car insurance rates across Indiana. The figures below represent what the average Indiana car insurance premium was in selected cities in 2010. Your own personal quotation will be influenced by your car insurance rating, your credit rating and the type of Indiana auto insurance you require.
Car insurance in Bloomington – $1,089
Car insurance in Muncie – $1,113
Car insurance in South Bend – $1,259
Car insurance in Evansville – $1,282
Car insurance in Terre Haute – $1,300
Car insurance in Indianapolis – $1,331
Car insurance in Fort Wayne – $1,347
Car insurance in Anderson – $1,386
Car insurance in Hammond – $1,477
Car insurance in Gary – $1,622
Indiana Car Insurance Companies
Indiana motorists who allow their policies to lapse for any reason often must pay an initial 25%-50% percent surcharge for a new policy so, when shopping around for the best Indiana car insurance policy, ensure that your new policy starts as soon as the previous one has expired.
There are many car insurance companies from which to compare car insurance rates in Indiana. We have reviewed those underlined below, but some Indiana car insurance companies may offer discounts for certain professions or for younger/older drivers.
|1st Choice Auto||Firemans Fund||National Union Fire|
|21st Century||First Acceptance||Nationwide|
|Affirmative||First Chicago||Netherlands Insurance Company|
|AIG||First Liberty||New Hampshire Indemnity|
|Allied Property & Casualty||Foremost||Owners|
|Alpha Property & Casualty||GEICO||Pekin|
|American Access||Globe American||Personal Service|
|American Bankers||Goodville Mutual Casualty||Pharmacists Mutual|
|American Commerce||Grain Dealers Mutual||Phoenix|
|American Family Home||Granite State||Republic Mutual|
|American Fire & Casualty||Grinnell||Safe Auto|
|American Home Assurance||GuideOne||Safeco|
|American International||Hamilton Mutual||Sagamore|
|American National||Harleysville||Security National|
|American Service||Hastings Mutual||Sentry|
|AMEX Assurance||Horace Mann||Sonnenberg|
|AMICA Mutual||IDS||Standard Mutual|
|Auto-Owners||Illinois Farmers||State Auto|
|Automobile Club||Illinois National||State Farm|
|InterInsurance Exchange||Indiana Farmers Mutual||Teachers|
|Automobile Insurance||Indiana Insurance Company||Titan|
|Company of Hartford||Infinity||Travco|
|Buckeye State Mutual||Insurance Company of||TrustGard|
|California Casualty||the State of Pennsylvania||Twin City Fire|
|Celina Mutual||InsureMax||UFB Casualty|
|Central Mutual||Kemper Independence||Unique|
|Chubb||Liberty Mutual||United Farm Family|
|Cincinnati||Lightning Rod Mutual||Unitrin|
|Cincinnati Equitable||Markel||Universal Casualty|
|Commerce & Industry||Mendota||Victoria|
|Depositors||Metropolitan||West Bend Mutual|
|Economy||MIC Insurance||Western Agricultural|
|Esurance||Motorists Mutual||Wolverine Mutual|
|Farmers Automobile||National General||Yosemite|
|Financial Indemnity||National Mutual|
It is always in your best interests to ask if you qualify for an auto insurance discount, as not all car insurance companies in Indiana are forthcoming with concessions you may be entitled to receive. As you can see, there are plenty of car insurance companies in Indiana, meaning that this is a very competitive market. It is recommended that you use the comparison tool at the top of the page to determine which Indiana auto insurance companies are offering the best deals, and then ask for a better one!