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How much is car insurance in Lafayette?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it costs about the same to insure your vehicle in Lafayette as it does in the rest of Indiana.
When viewed against the average rates for the rest of the U.S., auto insurance coverage in Lafayette is rather affordable. It's about $31 cheaper than the national average to insure your vehicle in Lafayette.
These rates provide a great starting point for understanding what to expect for your monthly payment, but there's no guarantee that this is what you will end up paying. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in 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 Lafayette 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 below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
More time behind the wheel makes you a more experienced driver. That experience can turn into some real savings when it comes to car insurance premiums. In this case, 18-24-year-olds pay two times the price that someone who is at retirement age.
You can expect to see a decrease in your monthly premium drop about once a decade or so. Once you hit retirement, however, you may see your rates rise again in Lafayette.
Average Car Insurance Rates by Gender
Although female drivers pay, on average, less than male drivers for car insurance coverage, Lafayette actually goes against the grain. While female drivers pay $53 a month for car insurance, males only pay about $46.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can vary wildly depending on your driving record. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. Drivers in Lafayette with one accident will pay around $63 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $67.
When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. So, if cheap car insurance is something you're after, drive safely and keep a clean record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$41|
|15 Years or Older||$47|
According to the first table above, the cheapest vehicles to insure in Lafayette are by and large trucks and vans, at $39 per month.
Car owners can expect to pay an average of around $53 a month for their policy, while SUVs usually cost around $49 a month to insure.
You can also expect to see slightly different rates depending on your vehicle's age. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old, however, you may see your bill start to shrink a bit. In Lafayette, the most expensive vehicles to insure are vehicles two-to -three years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$53|
On average, those who have settled down into marriage will pay slightly less for insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
The cost of auto insurance in Lafayette reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $17 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$64|
Another factor taken into consideration is your housing status. If you rent your home or apartment, expect to pay around $8 a month more than drivers who own property in Lafayette. Those who live with their parents, however, can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Lafayette, IN
Recent trends in car insurance for Lafayette drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before choosing an insurance policy.
The cost of auto insurance coverage in Lafayette went up from 2017-2018, before leveling out in 2019. Rates finished up in 2022, at $54 per month
How does Lafayette compare to neighboring areas?
Why are car insurance rates in Lafayette different from other areas?
When considering how much to charge for coverage, car insurance companies will review a lot of factors. While we've discussed the ones that affect your personal policy, others are based around where you park your car. These include things like:
- Number of drivers
- Road Safety (total number of local car accidents)
- Local laws
- Access to off-street parking
- Rate of crime
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. With the knowledge that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Lafayette?
Arming 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.
Fortunately, Compare.com has you covered. Put in your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies that offer coverage in Lafayette in no time.
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Lafayette Insurance FAQs
What factors affect car insurance quotes in Lafayette?
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 age and gender, as well as your credit score, address, marital status and driving record.
Why is the cost of car insurance in Lafayette different from other neighboring cities?
Things like local laws, crime rates, and parking situations, 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 Lafayette?
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 Lafayette?
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. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Lafayette or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?
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