Indiana Auto Insurance

Auto insurance in Indiana

The most important thing when purchasing a new vehicle is to also acquire a valid insurance policy. This is not only imposed by law, but it is also essential to stay protected in case of accidents. Whether the respective vehicle is used for personal or professional purposes, drivers have no other choice but to purchase insurance. Without such a policy, drivers should expect to pay fines of up to $1,000 or have their driving documents suspended for up to six months. Both the driver's license and the vehicle registration might be suspended. Should you be interested in discovering more details on the topic of auto insurance in Indiana, be sure to keep reading this article.

What type of car insurance do you legally need in Indiana?

According to the current laws, such as the Mandatory Liability Insurance Act, all Indiana resident who intend to operate a moving vehicle must have a liability insurance policy. The absence of the mandatory insurance will no doubt lead to legal consequences, such as the ones mentioned above. All states also have an online insurance verification system, which can be used to determine whether the respective vehicle has insurance or not.

For a driver to operate a vehicle in the state of Indiana, the respective auto insurance must meet different requirements. The prerequisites are: bodily injury liability ($50,000 per accident and $25,000 per person), property damage liability ($25,000 per accident), uninsured/underinsured motorist bodily injury ($50,000 per accident and $25,000 per person), uninsured motorist property damage ($25,000 per accident). While the minimum liability coverage meets the demands of the law, it is recommended to opt for the full coverage insurance instead. Optional coverages, such as comprehensive and collision insurance, are also recommended. It is always a good idea to opt for a higher coverage limit than the one required by the law, as this offers the best possible protection.

The sums mentioned in the previous paragraph make reference to the amount insurance providers will pay, should an accident for which you are at fault has occurred. The law imposes all drivers should carry a copy of their insurance policy while driving. Naturally, it is illegal to drive without a valid policy, with consequences commonly including legal fines and the suspension of your driving documents (driver's license, vehicle registration). Should one repeat the infraction, additional consequences might be enforced, especially jail time.

Average cost of auto insurance in Indiana

How much does car insurance cost in Indiana? The state minimum auto insurance policy in Indiana has a value of $414. Nonetheless, a full coverage insurance policy has an average value of $1,261 per year. Collision and comprehensive coverage might not be included in the general policy, which means you will have to calculate your budget accordingly. Several factors influence the overall insurance rates, including: type of vehicle, presence of prior insurance, number of miles driven, location, driving record, age, gender, and marital status. While cheap policies might seem attractive, it is recommended to choose the policy with the best coverage.

Auto insurance policies vary from one state to the other. Vehicle owners can expect differences for both the minimum and full coverage, especially if they also opt for additional coverages, such as comprehensive and collision. The factors that influence these values include: at-fault accidents, weather-related accidents, number of drivers versus the general population, uninsured drivers in the respective location, road conditions, etc.

Indiana has a significantly lower rate for the average car insurance than the national median, which is around $1,770. Among the states with the most expensive auto insurance there are: California, Colorado, Florida, Louisiana, Michigan, Nevada, New York, and Pennsylvania. As for the state with the most affordable policies, these include: Maine, Nebraska, New Mexico, North Dakota, Oregon, Tennessee, Washington, and Wisconsin. Maine has some of the most affordable auto insurance policies, with $876 for the full coverage and $227 for the minimum coverage. New York has the most expensive auto insurance, with $2,996 for the full coverage and $1,339 for the minimum one.

Within the state of Indiana, there are also differences between the various cities. Carmel has among the most affordable auto insurance policies, while Indianapolis has among the highest rates for such policies. The average annual premiums are as follows: Carmel - $1,177; Fort Wayne - $1,231; South Bend - $1,248; Evansville - $1,332; Indianapolis - $1,398.

In calculating the value of the auto insurance, companies consider the age of the driver. This type of insurance costs more for young drivers, as insurance companies do not see them as responsible as adults. A teenage driver can expect an annual premium of over $7,700, while a middle-aged driver will have to meet a premium of around $2,000. Gender differences are also present, with men benefitting from better rates overall. Married couples also have access to the most affordable coverages, as opposed to those who are single, widowed, or divorced.

When calculating the value of a potential coverage policy, auto insurance companies will also analyze the credit history of the driver. A driver with an exceptional credit can save significant sums on his or her insurance premium, in contrast to someone who has a poor credit history. Higher rates are also to be expected for drivers with prior driving offenses, such as speeding, at-fault accidents, reckless driving, and DUI/DWI. The type of coverage while also influence the final value of the auto insurance. Drivers can also add options, such as comprehensive and collision insurance to the state minimum policy, in order to increase the level of protection.

Did not find your city or county on the list? Please use our auto insurance companies search box at the top to locate all the best auto insurance quotes in Indiana. Find car insurance in Indiana by city, zip code or county name.

Finding the right auto insurance in Indiana

If you are having a hard time finding the right insurance policy, you might consider our expert assistance. Backed by years of experience and knowledge accumulated in the field, we are more than pleased to match drivers with the best policies for their needs. In suggesting a particular policy, we will also take into account the available budget. To benefit from our assistance, all you have to do is give us a call and we will be more than pleased to offer all the support you might need. Keep in mind that this service is free of charge, and it can save you from hours of research, thus offering more time to focus on important matters.