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How much is car insurance in Indianapolis?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it costs about the same to insure your vehicle in Indianapolis as it does in the rest of Indiana.
Drivers relocating from out of state may enjoy some cost savings in Indianapolis. Car insurance rates for the United States as a whole are, on average, $28 more expensive than the rates you'd pay in Indianapolis.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. Insurance companies take an array of factors into consideration when determining how much to charge you to insure your vehicle. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in figuring out your monthly premium.
We've analyzed the average rate for Indianapolis and broken down the different factors to help you understand what exactly you might be asked to pay. And if you're not certain that you're paying the lowest option, simply enter your ZIP Code below and find out in just minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
It would make sense that older drivers have more driving experience, right? That experience can lead to some serious savings when it comes to car insurance rates. In this case, 18-24-year-olds pay two times as much as drivers 65 and older.
For every ten years older you get, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, your rates may begin to go back up in Indianapolis.
Average Car Insurance Rates by Gender
Female drivers pay, on average, slightly less than their male counterparts. In Indianapolis, the difference is around $4 per month. Based on the chart above, you can see that female drivers pay around $51 on average, while male drivers typically pay $55 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary quite a lot. Those with fewer accidents and tickets will pay less than those with multiple infractions, while those with clean driving records will obviously pay the least. In Indianapolis, having a single accident on your record will usually get you rates around $62 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $68.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. In order to minimize your monthly rate, practice safe driving habits and keep your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$46|
|15 Years or Older||$54|
In Indianapolis, the cheapest vehicles to insure are typically trucks and vans, with drivers paying around $46 per month for auto insurance coverage.
Car owners will see a monthly bill of about $56, while SUV owners usually pay around $49 a month.
The age of your vehicle has an impact on the cost of your policy as well. Generally, newer vehicles are going to cost the most to insure. However, once your car is about 5 years old, you may start to see your monthly premium drop back down. In Indianapolis, the most expensive vehicles to insure are vehicles four-to-five years old and eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$56|
More often than not, those who are currently married will pay slightly less for car insurance. This usually boils down to owners having multiple vehicles on the same policy, something many companies award special discounts for.
The difference in rates based on relationship status in Indianapolis can be as much as $11 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$79|
Another factor taken into consideration is your housing status. Homeowners in Indianapolis can expect to pay around $7 a month less than those who rent. Those who live with their parents, however, can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Indianapolis, IN
Recent trends in car insurance for Indianapolis drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area before picking an insurance policy.
In Indianapolis, auto insurance rates rose from 2017-2019, when they hit a high of $58. This leveled out in 2020, when car insurance rates started to decrease. They reached a low of $49 in 2021, and finished up in 2022, at $52 per month.
How does Indianapolis compare to neighboring areas?
Why are car insurance rates in Indianapolis different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate a number of factors. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Regional laws
- Total number of drivers
- Crime levels
- Road Safety (total number of local car accidents)
- Access to off-street parking
While you won't have the ability to change these factors yourself, they can be handy to keep in mind when seeking a new policy or considering a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Indianapolis?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Good news! Compare.com does all of that work for you. Just enter your ZIP below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from several of the car insurance companies providing plans in Indianapolis.
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Indianapolis Insurance FAQs
What factors affect car insurance quotes in Indianapolis?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your driving record, credit score, address, and marital status.
Why is the cost of car insurance in Indianapolis different from other neighboring cities?
Things like parking situations, crime rates, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Indianapolis?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Indianapolis?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good 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 Indianapolis 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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