Best car insurance in Indiana for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Indiana car insurance laws require that drivers purchase at least minimum levels of auto insurance coverage. If you live in Indiana, you must purchase at least the state’s minimum limits of bodily injury liability and property damage liability to drive legally. Auto insurance companies must also offer you uninsured motorist coverage and underinsured motorist coverage, although you can decline these in writing.

You cannot purchase less coverage than your state’s minimum requirement, so there’s no need to memorize the legal requirements. However, understanding the minimum coverage limits could help you identify if you need higher limits or optional endorsements.

If you have a loan or lease on your vehicle, your insurance needs may be different than a driver who owns their vehicle outright. Because you share ownership of your vehicle with a financial institution, you will likely be required to carry both comprehensive and collision coverage, often called “full coverage.” Both comprehensive coverage and collision coverage give you financial protection for damage to your vehicle. You may also want to consider gap insurance, which is designed to pay the difference between the cash value of your vehicle and the balance of your loan if your vehicle is stolen or totaled.

Life happens, and when it does, your car insurance might change. If your teen driver gets their license, for example, you will likely be facing increased premiums. Or perhaps you rear-end another driver, get a speeding ticket or are convicted of a DUI.

These incidents could flag you as a high-risk driver and increase your rates. Understanding your own specific scenario could help you find a company that sells coverage geared toward your situation. Households with teen drivers could look for companies with student discounts, for example.

The best car insurance in Indiana will vary for every person and depends on your individual preferences, requirements and rating factors. The ideal company for someone seeking the most affordable policy may differ from the one best suited for someone prioritizing specific coverage. To find the best car insurance for your situation, create a list of your preferences, request quotes from various carriers and compare offers to make an informed decision.

The cheapest car insurance in Indiana will vary from driver to driver. Your premium will depend on your individual rating factors, including your age, driving history and the coverage types and levels you choose, which means the cheapest car insurance company for you may not be the cheapest for someone else.

Price is also only one factor to consider when buying insurance. You might get a low premium, but if the insurer isn’t financially stable, you could find yourself struggling to collect if you have to file a claim. Experts recommend shopping around to compare coverage options, customer satisfaction standings and quoted rates from several companies.

Car insurance is required in Indiana, so driving without insurance is illegal. Failure to purchase adequate insurance could result in large fines and suspension of your license. Even if you aren’t caught, you’ll be putting yourself at significant financial risk. If you were to cause an accident, you’d be fully responsible not only for the cost to fix your car, but also the cost to repair the other driver’s vehicle out of pocket, as well as potentially their medical bills for injuries you caused.

Average Indiana rates are well below national average, and the state is not considered one of the more expensive states for car insurance. Your own rate, however, may be higher than the averages based on a handful of factors that you may or may not be able to control. Your age, credit rating and driving history all play a part in determining your rate, as does your car's age, make and model. Your ZIP code is another qualifier. In general, rates in urban areas tend to be higher to account for the increased risk of accidents on crowded streets and highways. So if you live in Indianapolis, Fort Wayne or one of the state's other large cities, you may pay a higher rate for coverage. Keeping a clean driving record is another factor, which you can control by maintaining safe and careful driving habits.