Table of contents
How much is car insurance in Kokomo?
|Area||Average Monthly Car Insurance Premium|
Looking at the chart above, you can see that the average monthly price in Kokomo is in line with pricing for the rest of Indiana.
When viewed against the average rates for the rest of the U.S., auto insurance coverage in Kokomo is rather affordable. The average monthly payment in Kokomo is about $31 cheaper than the rate for the rest of the United States.
While these are the average costs to insure your vehicle in Kokomo, keep in mind that you could end up paying a different amount. Insurance companies take an array of factors into consideration when determining how much to charge you for your car insurance. The monthly premium you'll see each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
We've done the heavy lifting for you and broken down the average rate for Kokomo so that you can get a more accurate idea of what you might pay. 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!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel. That experience can turn into some real savings when it comes to auto insurance rates. According to the table above, you can see that 18-24-year-olds pay significantly more than drivers 65 and older.
For every 10 years, you can expect to see a decrease in your monthly premium. Once you hit retirement age, however, your rates may creep back up in Kokomo.
Average Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. In Kokomo, however, the difference in monthly rates for car insurance is minimal.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. Drivers who avoid accidents and tickets will pay significantly lower rates than those with infractions. Drivers in Kokomo with a single accident will pay around $77 a month. Likewise, if you have one ticket, you'll be looking at an average rate of around $114.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$41|
|15 Years or Older||$47|
In Kokomo, the cheapest vehicles to insure are by and large trucks and vans, with drivers paying around $41 per month for auto insurance.
SUV drivers will see rates of about $49 for car insurance, while car owners typically pay around $52 per month.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. Once your car is about 5 years old, however, you may see your rates begin to drop back down. In Kokomo, the most expensive vehicles to insure are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$52|
Overall, those who have settled down into marriage will pay slightly less to insure their vehicle. This occurs because insurance companies commonly extend special discounts to policyholders with multiple vehicles that are on the same policy.
At a national level, married drivers usually pay less than single drivers for auto insurance. This holds true for Kokomo as well, where the difference is around $11 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$60|
Your housing status is another component of how insurance companies calculate your monthly rate. In Kokomo, homeowners can expect to pay around $6 a month less than those who rent. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your average premiums, depending on your insurance company.
Car Insurance Companies in Kokomo, IN
Recent trends in car insurance for Kokomo drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending when choosing when and where to shop.
The cost of insurance in Kokomo increased from 2016-2017, before steadying out in 2018. They rose again, hitting a high of $57 in 2020, and finished down at $45 in 2021.
How does Kokomo compare to neighboring areas?
Why are car insurance rates in Kokomo different from other areas?
When considering how much to charge for a monthly rate, car insurance companies will consider several factors. While we already mentioned the ones that affect your personal policy, others are influenced by where you call home. These include things like:
- Crime levels
- Total number of drivers in the region
- Frequency of car accidents
- Off-street parking access
- Area regulations
You can't change these factors yourself, but they're something to take into consideration when shopping for a new policy or looking to move into an area. Different towns and cities will all have different average rates, so guides like these are a great place to get started.
How can I find the cheapest car insurance in Kokomo?
In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.
Good news! Compare.com will handle the heavy lifting for you. Just punch in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies that offer policies in Kokomo.
Kokomo Insurance FAQs
What factors affect car insurance quotes in Kokomo?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your address, credit score, driving record and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Kokomo different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, local laws, and crime rates -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Kokomo?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Kokomo?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Kokomo or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?