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How much is car insurance in Kokomo?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, it costs about the same to insure your vehicle in Kokomo as it does in the rest of Indiana.
Compared to the rest of the country, auto insurance in Kokomo is more affordable. The average monthly payment in Kokomo is about $31 cheaper than the rate for 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. Insurance companies take an array of factors into consideration when determining how much to charge you for your car insurance. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all taken into consideration when calculating the final dollar amount you'll be asked to pay each month.
But worry not, we've done the heavy lifting and broken down the average rate for Kokomo to help you understand what exactly you might be asked to pay. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads. When it comes to auto insurance premiums, that experience pays off. As you can see, 18-24-year-olds pay two times the price that drivers of retirement age.
For every 10 years, you can expect to see a decrease in your monthly premium. That said, once you hit retirement age, your rates may creep back up in Kokomo.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. This is true in Kokomo, where male drivers pay about $7 more per month. As you can see in the chart above, car insurance for women in the area typically costs around $47 each month, while men pay $54 on average.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Those with clean records can expect to pay much less than those with infractions. In Kokomo, having a single accident on your record will usually get you rates around $88 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $69.
Accidents, tickets, and other driving infractions can really hurt your wallet. Remember, the safer you are as a driver, the cheaper your car insurance will be.
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 $36 per month for insurance coverage.
SUV drivers will see rates of about $52 to insure their car, while car owners typically pay around $57 a month.
Your rates can also vary depending on your vehicle's age. Generally, newer vehicles are going to cost the most to insure. Once your car is around 5 years old, however, you may see your bill start to shrink a bit. 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)||$55|
On average, people who are married will pay slightly less for car insurance coverage. This usually happens because companies will award special discounts to policyholders with multiple vehicles that are on the same policy.
The cost of auto insurance in Kokomo reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $15 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$58|
One other element taken into consideration is your living situation. If you rent your home or apartment, expect to pay around $9 a month more than those who own their own home in Kokomo. 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 car insurance costs, depending on your insurance company.
Car Insurance Companies in Kokomo, IN
Recent trends in car insurance for Kokomo drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when selecting an auto insurance policy.
The rates for auto insurance in Kokomo dropped from 2017-2018, when they hit a low of $43. This shifted in 2019, when policy premiums started to rise. They reached a high of $61 in 2021, and finished down in 2022, at $48 per month.
How does Kokomo compare to neighboring areas?
Why are car insurance rates in Kokomo different from other areas?
Car insurance companies look at a variety of factors when they're deciding how much to charge for a policy. The specifics of where you call home will have an impact on your personal policy. This might include things like:
- Amount of off-street parking
- Local laws
- Number of drivers in the community
- Crime rates
- Number of car accidents
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. 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 Kokomo?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But wait! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from many of the car insurance companies that offer auto coverage in Kokomo.
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Kokomo Insurance FAQs
What factors affect car insurance quotes in Kokomo?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your gender and age, but also factors like your vehicle's year, make and model, plus your address, credit score, marital status, and driving record.
Why is the cost of car insurance in Kokomo different from other neighboring cities?
Crime rates, parking situations, and local laws -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Kokomo?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, 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?
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. 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?
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