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How much is car insurance in Greenwood?
|Area||Average Monthly Car Insurance Premium|
According to the chart above, the rates you'll pay for coverage in Greenwood are about the same as what you would pay anywhere else in Indiana.
However, when compared to the national average, the cost for auto insurance in Greenwood is lower. On average, it's about $30 less to insure your vehicle in Greenwood than it is in the rest of the United States.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. There are a variety of factors that car insurance companies consider to determine how much to charge you to get your vehicle insured. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining the bill you'll see each month.
Don't sweat it however, we've broken down average rates for Greenwood residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below to learn more about rates in your area!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads, right? When it comes to car insurance bills, that experience pays off. As you can see, 18-24-year-olds pay two times the price that drivers of retirement age.
Every ten years or so you can expect to see a decline in your monthly premium. That said, once you hit retirement age, your rates may climb back up a bit in Greenwood.
Average Car Insurance Rates by Gender
In general, female drivers pay less for car insurance than their male counterparts. This rings true in Greenwood, where women pay around $4 less per month than men. Based on the chart above, you can see that female drivers pay around $49 on average, while male drivers typically pay $53 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. A clean driving record will get you a lower rate than one with even just a single accident or infraction. Drivers in Greenwood with a single accident on their record will usually see rates around $59 a month. In addition, drivers with a single ticket on their record can expect to pay around $91 a month on average.
Accidents, tickets, and other driving infractions can really add up when it comes to how much you pay. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$62|
|15 Years or Older||$54|
According to the first table above, the cheapest vehicles to insure in Greenwood are by and large trucks and vans, at $47 per month.
Car owners, on the other hand, usually pay around $50 per month, while SUV drivers can expect to pay about $57 a month to insure their vehicle.
You may also see different rates based on how old your vehicle is. Generally, the most expensive vehicles to insure are going to be newer ones. However, your rates may start to drop back down once your car is a few years old. In Greenwood, vehicles less than one year old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$59|
Generally speaking, car insurance is slightly cheaper for married policyholders. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
At a national level, single drivers usually pay more than married couples do for auto insurance. Greenwood follows that pattern, with the difference totaling to around $19 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$70|
One other element taken into consideration is your housing status. If you rent your home or apartment, expect to pay around $12 a month more than if you own your own home in Greenwood. Those who live with their parents, however, can expect to pay a lot more.
Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your car insurance costs.
Car Insurance Companies in Greenwood, IN
Recent trends in car insurance for Greenwood drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before picking an insurance policy.
Auto insurance rates in Greenwood rose from 2017-2018, where they hit a high of $58, before steadying out in 2019. Rates went up again in 2020, and finished down at $40 in 2022.
How does Greenwood compare to neighboring areas?
Why are car insurance rates in Greenwood different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate many factors. Your insurance policy will depend largely on where you call home and will be influenced by things such as:
- Frequency of car accidents
- Off-street parking availability
- Regional laws
- Area crime rates
- Total number of drivers in the region
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to learn more.
How can I find the cheapest car insurance in Greenwood?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But hold on! Compare.com does all of that work for you. Just punch in your ZIP below, answer a few questions regarding the factors mentioned above, and you'll be comparing the cheapest quotes from several of the car insurance companies that offer coverage in Greenwood.
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Greenwood Insurance FAQs
What factors affect car insurance quotes in Greenwood?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your driving record, credit score, address and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Greenwood different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, parking situations, and crime rates into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Greenwood?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Greenwood?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Greenwood or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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