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.
Compare the Cheapest Car Insurance Quotes in Indianapolis, IN
The Cheapest and Best Car Insurance in Indianapolis
The Cheapest Car Insurance Companies in Indianapolis
The cheapest companies for a full coverage car insurance policy in Indianapolis are:
- Erie: $577 per year
- GEICO: $592 per year
Erie offers the cheapest, average car insurance rate in Indianapolis at $577 a year, which is about $181 more affordable than the average auto coverage policy in the city. Meanwhile, Allstate offers the most expensive average policy at $968 per year, which is about 67.6% higher than Erie’s rate. In fact, Allstate’s average auto insurance rate is $209 higher than the average car insurance rates in Indianapolis.
MoneyGeek collected insurance rates using a sample driver profile. The driver is a 40-year-old male with a full coverage policy, including liability insurance as well as comprehensive and collision insurance.
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Average Cost of Car Insurance in Indianapolis
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.
The Best Car Insurance Companies in Indianapolis
MoneyGeek ranked the best companies in Indianapolis for drivers looking for a balance of affordability and quality service. Based on MoneyGeek’s study, the best car insurance companies in the city for most drivers are:
- Erie: MoneyGeek score of 95 out of 100
- United Farm Bureau of IN Group: MoneyGeek score of 93 out of 100
USAA received the highest score in Indianapolis by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
MoneyGeek used a scoring system that includes J.D. Power user satisfaction, affordability and financial stability.
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 get a personalized quote. 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.
Shopping around for car insurance in Indianapolis could save you $181, which is enough to buy:
Cheapest Car Insurance in Indianapolis by Coverage Amount
The coverage level that you choose will affect the price of your car insurance in Indianapolis and elsewhere. For instance, a policy only meeting state minimums costs $424 on average in Indianapolis. A full coverage policy with higher liability limits costs $759 on average, which is $335 more.
Indiana Minimum Liability Requirements
- 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.
The coverage amount of the car insurance policy you purchase also impacts the annual premium. Most states stipulate a minimum liability-only policy, which will protect the other party in case you were at fault in the accident. Erie and GEICO offer the most affordable state minimum liability-only rates at an average of $306 a year. If you want comprehensive auto insurance, Erie’s policy costs an average of $546 for full coverage, while GEICO’s full-coverage policy costs an average of $542.
In Indianapolis, you have the option to buy a state minimum liability-only policy, 50/100/50 liability-only, 50/100/50 full coverage or 100/300/100 full coverage. The first number pertains to the injury liability for one person, the middle number is the limit for injuries in each vehicle and the last number is for property damage coverage.
"Full coverage" means you are protected from factors other than collisions, such as uninsured motorists, theft and natural disasters. A liability-only policy will be cheaper, but if the difference in premium rates is insignificant, it’s best to get full coverage. You only have to add about $194 to Progressive’s annual premium for state minimum coverage to get 50/100/50 full coverage.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in Indianapolis if You Have Driving Violations
All drivers should aim for a clean driving record. Not only will driving safe keep you safe, but it will also benefit you in terms of car insurance cost. In Indianapolis, a Progressive insurance premium costs an average of $658 per year if you have a clean driving record. However, you would have to pay an average of $444 more if you have speeding tickets and an average of $933 more if you’ve been at fault in an accident. The cheapest policy in the city for a driver with no violations is an average of $577 from Erie.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
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
Top Agents Offering Affordable Car Insurance in Indianapolis
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.
Methodology and Assumptions
MoneyGeek’s average premium rates for Indianapolis are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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