Insurance

Best Ways To Get Affordable Car Insurance In Indiana

According to the Insurance Information Institute, finding the cheapest auto insurance may be easier for Indiana drivers than for drivers in other states, thanks to Indiana’s lower-than-average rates.

While car insurance is cheap here, it’s still possible to save if you’re willing to do some comparison shopping.  

Car insurance companies consider your location, age, gender, and driving record to calculate rates for premiums. Other factors like credit score, marital status, vehicle type, previous coverage, and miles driven can all play a role in the amount you’ll pay for coverage.

Before committing to a policy or company, you’ll want to shop around and get quotes from four or five companies and compare them. 

Before embarking on on-road travel one should understand auto insurance requirements;

Minimum Car Liability Insurance Requirements In Indiana

In the US, drivers must have liability coverage. If you’re involved in an accident, liability insurance covers damage you cause to the other vehicle, driver, and passengers. If you finance or lease your car, your lender probably requires comprehensive collision coverage. 

The two main components of liability insurance are bodily injury and property damage, which most states require.

Liability insurance also includes uninsured motorist and underinsured motorist coverage. This type of coverage protects you when an at-fault driver hits you, and they have no coverage or not enough coverage.

Indiana requires bodily and property coverage, according to the Insurance Information Institute. Indiana minimum liability requirements are 25/50/25; up to $25,000 of injury protection for each person involved in an accident, up to $50,000 worth of injuries per incident, and up to $25,000 of property damages per incident. 

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How To Get The Best And Most Affordable Car Insurance In Indiana? 

Car insurance companies love good drivers. They cost little to insure because they generally don’t file claims for long periods.

That’s why they typically qualify for the cheapest car insurance rates. Even so, you don’t want to pay more than you have to. Comparison shopping can help you save money even if you have a good driving record.

Drivers who get the best cheap car insurance in Indiana have the best credit score. Avoiding accidents by practicing safe driving and limiting your vehicle’s risk for damage, like parking in a covered space, can help reduce the chance of having to file a claim, which can increase auto insurance rates.

Avoiding unnecessary insurance claims can help keep your rates from suddenly increasing. Those who have the best driving records, several years of driving experience, and who have a more affordable car to insure will generally pay the least in insurance premiums each year. 

Another way to save is to shop around. Every insurance company prices policies differently, and no two policies are the same.

Prices vary greatly depending on whether you get liability, comprehensive, or collision coverage. Getting quotes from several different insurance providers before buying coverage can help you compare rates and policy features.

Comparing car insurance quotes can also help ensure you are getting the lowest rate for the type and amount of coverage you want.

Consider the amount of coverage and the types of coverage listed on your quote. Remember, you’re looking for the most coverage for your money. Don’t forget to look at the deductible or the amount you’ll pay out of pocket if you get into an accident.

Events That Can Impact Your Cheap Rates In Indiana

Numerous rating factors unique to your situation can impact the cost of car insurance in Indiana. In addition to factors like your age, gender, motor vehicle history, location, credit-based insurance score, and claims history, certain life events can also cause your car insurance premium to increase.

If you are shopping around for cheaper car insurance due to a recent life change, here are  some things to consider:

Being Involved In An At-fault Accident

Unless you have accident forgiveness coverage, causing a collision will generally drive up the cost of car insurance.

After an at-fault accident, your insurance premium will likely increase for three to five years (depending on the circumstances surrounding the collision).

Minor collisions may have a smaller impact on rates, whereas more serious incidents can cause your premium to increase more drastically.

Being A High-risk Driver

Certain events can cause your insurance company to put you in the “high-risk driver” category. You might be deemed a high-risk driver if you are convicted of a DUI, a DUI signals to your insurer that you may be a higher risk, so you can expect higher premiums at your policy renewal.

Use that renewal time to get quotes from other insurance companies and see if you can find a better rate. You are also considered high-risk if you get caught driving uninsured or have received multiple moving violations.

Also, keep in mind that you might have to purchase car insurance from a non-standard carrier, particularly if you need to obtain an SR-22 or similar type of form. These policies are typically more expensive than coverage offered by standard auto insurers.

Location

Your ZIP code can have a big impact on the average cost of car insurance in Indiana. If you move to a new city, you may find savings opportunities by shopping for insurance quotes and checking ZIP codes of interest. 

Adding A Teen Driver To Your Policy

If you add a newly-licensed driver to your policy, you can expect your premium to increase. This is because inexperienced drivers are statistically more likely to cause accidents than older drivers.

Although insurance companies charge higher premiums for teen drivers to offset the risk of claims, most also offer discounts specifically geared for young drivers, such as good grades and students living away from home at college without a vehicle.

Rates will typically decline over time as the teen driver gets older and has more experience behind the wheel.

Receiving A Speeding Ticket

Getting ticketed for speeding will negatively impact your insurance rate, as speeding is considered by insurers a type of reckless driving behavior that also commonly leads to costly claims.

Most speeding tickets stay on your record for three years, during which time your car insurance premium will likely be higher via a surcharge.

To help make rates more affordable, you could consider raising your deductible, taking advantage of discounts, or adjusting your coverage limits.

Car insurance rates following a speeding ticket increase by over $400 on average annually in Indiana. That’s an average 32%ratee hike.

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