bestauto insuranceIndianapolisCompare the Cheapest Car Insurance Quotes in Indianapolis, IN
The average cost to insure a car in Indianapolis is $759 annually, slightly higher than the state average. The cheapest option is Erie, which has an average rate of $577 per year. MoneyGeek evaluated rates to find the cheapest by coverage amount and driving history. Additionally, MoneyGeek recommended the best options for those focused on both quality and cost.
REVIEW AUTO INSURANCE RATES
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Advertising & Editorial DisclosureLast Updated: 1/5/2023
Edited By |
Morgan Hull
Written By |
Mark Fitzpatrick
Erie provides the cheapest full coverage car insurance on average in Indianapolis, but this can vary based on your coverage and driving profile. Erie and GEICO offer the lowest average rates on state minimum insurance. If you have a speeding ticket, the cheapest provider on average is Erie. Erie is also MoneyGeek’s top insurer that balances service and affordability.
bestauto insuranceIndianapolisThe Cheapest and Best Car Insurance in Indianapolis
Methodology
MoneyGeek analyzed car insurance companies in Indianapolis, Indiana, using data from J.D. Power, AM Best and the National Association of Insurance Commission (NAIC).
The Cheapest Car Insurance Companies in Indianapolis
A full coverage car insurance policy provides higher limits than liability coverage but also costs more. On average, the two insurance companies with the lowest full coverage car insurance costs in Indianapolis are:
- Erie: $577 per year
- GEICO: $592 per year
Allstate has the highest rates for full coverage car insurance in Indianapolis, at $968 per month. That means if you purchase your policy from the company, you will pay around $391 more than Erie policyholders. It is important to note that these are average rates, and your actual premiums might be higher or lower based on your driving history and the coverage amount.
Cheapest Car Insurance in Indianapolis
Full Coverage 100/300/100
- Company100/300/100per year
- 1.$577
- 2.$592
- 3.$658
- 4.$680
- 5.$822
MoneyGeek obtained the rates for this study using a 40-year-old male driver whose full coverage car insurance policy meets the limits outlined in our methodology.
Drivers with liability coverage usually pay less than those with full coverage car insurance. That’s because full coverage car insurance comes with two additional types of coverage, which include:
- Comprehensive insurance: includes coverage for damages not caused in an accident, such as vandalism and theft
- Collision insurance: covers damages resulting from an at-fault accident or if you run through stationary objects
For drivers with old vehicles, liability insurance or the state minimum car insurance may be the best since it's cheaper, especially since getting a full coverage policy could be more expensive than the value of the car.
Compare Car Insurance Rates in Indianapolis
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Indianapolis for Minimum Coverage
The cheapest car insurance in Indianapolis is the minimum state coverage. Although it costs less, it does not provide adequate coverage and you may not be fully covered in case of an accident. This means you could pay more out of pocket if you are involved in an at-fault accident.
On average, the cheapest state minimum coverage in the city comes from:
- Erie: $306 per year
- GEICO: $306 per year
Allstate has the highest rates in the state, charging roughly double what Erie and GEICO policyholders pay.
Individual costs for the minimum liability only car insurance can differ depending on various factors. You can use the table below to compare rates across different coverage limits.
Cheapest Minimum Liability Car Insurance in Indianapolis
State Minimum
- CompanyState Minimumper year
- 1.$306
- 2.$306
- 3.$342
- 4.$357
- 5.United Farm Bureau of IN Group$425
Liability-only car insurance in Indianapolis only meets Indiana’s state minimum car insurance requirements, including $25,000 in bodily injury coverage per person up to $50,000 per accident and $25,000 for property damage. It is also the cheapest in the city, although you may need to pay out of pocket if you get involved in an accident. For instance, if the property damage cost in an accident is more than $25,000, you will pay the extra amount yourself.
Indiana Minimum Liability Requirements
- ItemDescription
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
Cheapest Car Insurance in Indianapolis if You Have Driving Violations
Your driving record determines how much you pay for car insurance in Indianapolis. Severe traffic violations, such as speeding tickets and DUIs, cause your rates to increase considerably. The more your driving record improves, the lower your car insurance rates will be.
Based on MoneyGeek’s research, the most affordable car insurance providers in the city for drivers with traffic violations are, on average:
- Cheapest after a ticket: Erie, at $624 per year
- Cheapest after an at-fault accident: Erie, at $781 per year
- Cheapest after a DUI: American Family, at $861 per year
If you have a poor driving record, you can still get cheaper car insurance in Indianapolis by shopping around.
Cheapest Car Insurance in Indianapolis With a Violation
Speeding Ticket
- CompanySpeeding Ticketper year
- 1.$624
- 2.$737
- 3.$848
- 4.$861
- 5.$1,102
Average Cost of Car Insurance in Indianapolis
Indianapolis$759
Indiana$725
U.S.$1,424
The average car insurance rate in Indianapolis is $759 a year, which is a little bit more expensive than the annual state average of $725. Indianapolis’ rate is still just over half as costly as the average national auto insurance premium of $1,424 per year.
Personalized Quotes to Get You the Cheapest Car Insurance in Indianapolis
To ensure that you get the best car insurance in Indianapolis, make sure that you compare personalized auto insurance quotes. The rate you get from insurance companies depends on your unique circumstances. Insurance companies examine your age, where you live, what type of car you drive, your driving history and more to assess your risk level. The riskier you are to insure, the higher your premiums will be.
Compare Car Insurance Rates in Indianapolis
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
The Best Car Insurance Companies in Indianapolis
MoneyGeek ranked the best car insurance companies in Indianapolis according to their average rates, claims ratings and user satisfaction scores. Based on these criteria, the following companies received the highest scores:
- Erie: MoneyGeek score of 98 out of 100
- State Farm: MoneyGeek score of 84 out of 100
Out of the companies that were evaluated, Allstate received the lowest MoneyGeek score of 30 out of 100. Policies from this insurer are the most expensive, costing around $968 per year.
1
Erie
Score:98
Erie received perfect scores for affordability and customer satisfaction as well as a high score for claims. On average, policies cost $577 per year for a 40-year-old driver in Indianapolis. The insurer offers a new and better car replacement — two coverage options that are rarely offered by other insurance providers.
More About Erie
Erie’s better car replacement coverage will cover the cost of replacing your car with the newest model year if your car is less than two years old and gets totaled. If your car is more than two years old, you can still receive a car that is two years newer than your current model.
Other unique offers from Erie include accident forgiveness coverage, which prevents rates from increasing after an at-fault accident, and rental car and travel reimbursement, which covers rental car or public transportation expenses accrued while waiting for your car to get repaired.
Read MoneyGeek's Erie auto Insurance Review2
State Farm
Score:84
State Farm achieved above-average affordability, satisfaction and claims scores. In Indianapolis, the average cost of a policy from State Farm is $680 per year. It offers a unique rideshare insurance add-on coverage option.
More About State Farm
In Indianapolis, drivers who work for a rideshare company can benefit from State Farm’s unique rideshare insurance coverage. This optional coverage ensures that all coverages included in your personal auto insurance policy, except for liability insurance, remain in effect after you’ve matched with and are transporting a rider.
Having roadside assistance coverage pays for the cost of mechanical labor, towing and gas, oil and battery delivery services if your car breaks down. Another optional coverage, rental car and/or travel reimbursement, refunds up to $500 of rental car and travel expenses while your vehicle is in tow after an accident.
Read MoneyGeek's State Farm auto Insurance Review3
GEICO
Score:77
4
American Family
Score:72
5
Farmers
Score:51
6
United Farm Bureau of IN Group
Score:51
7
Progressive
Score:45
8
Allstate
Score:30
Average Cost of Car Insurance by Postal Code
The ZIP code you live in also makes a difference in the cost of your auto insurance. In Indianapolis, the most expensive ZIP code for car insurance is 46226, where you have to pay an average of $774 in annual premiums. If you live in 46237, you’ll have to pay an average of $729 a year, which is the cheapest rate in the city based on ZIP code. The difference lies in the risk factors in your area, such as the number of accidents, theft cases and uninsured motorists.
- Zip CodeState Minimumper year
- 46237$729
- 46227$760
- 46254$763
- 46203$768
- 46226$774
Factors That Impact Insurance Costs in Indianapolis
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fatal accidents also contribute to car insurance rates in Indianapolis. How Indianapolis ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
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