How Much Does Auto Insurance Cost for a Learners Permit in Indiana?

You have most likely seen the catchy advertisements from insurers like State Farm, GEICO, and Progressive guaranteeing big savings, so drivers just need to pick the one with the catchiest commercial, right?

Unfortunately, it’s not that simple as there are a whole bunch of unknown elements such as if you are wanting full coverage, if you own your home, if you have points on your license, and the level of liability coverage you want. If you keep reading, we will teach you about the best ways to maintain low rates and educate you enough to have a jump start in finding the best auto insurance in Indiana.

We all have different tastes in cars, and the vehicle requiring coverage is one of the biggest factors that determines if you can find cheap insurance for a learners permit in Indiana. Vehicles with lots of horsepower, poor crash test ratings, or a high likelihood of having liability claims will cost substantially more to insure than safer, lower-performance models. The data below features car insurance rates for a number of the cheapest vehicles to insure.

Above prices assume single female driver age 17, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in specific location information which can modify prices noticeably.

Cost estimates assume single female driver age 17, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in vehicle garaging location which can lower or raise auto insurance rates significantly.

Table data assumes single female driver age 17, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in vehicle garaging location which can modify coverage prices considerably.

When shopping for cheaper insurance for new drivers, one of the many factors that determine the price of your policy is where your home is located. Cities with larger populations like Gary, Merrillville, and Indianapolis tend to pay more, whereas areas with less crime or weather claims have the luxury of cheap insurance for a learners permit in Indiana.

The information below lists the priciest cities in Indiana for a learners permit to buy auto insurance in.

Rate quotes are approximated as the specific area where the vehicle is garaged can modify rates significantly.

Finding out which company offers the lowest-priced car insurance rates for a learners permit will involve a little more sweat in order to find a policy that fits your budget.

Every insurance provider has a proprietary method for establishing rates, so we need to take a look at the car insurance companies with the overall best prices in Indiana. Keep in mind that Indiana car insurance rates are calculated based on many things that control the price you pay for coverage. Simply getting older, marrying your spouse, or getting a ticket for careless driving can trigger price changes that can now make some companies more affordable than competitors.

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Travelers has some of the lowest car insurance rates in Indiana at around $602 each year. Cincinnati Insurance, USAA, Erie, and Western Reserve would also make the list of some of the cheapest Indiana car insurance companies.

As shown above, if you currently buy coverage from USAA and switched to Travelers, you may see savings of roughly $79. Customers with Erie could save as much as $103 a year, and Western Reserve customers might see rate reductions of $236 a year.

It’s important to note that these estimates are averaged for all types of drivers and the different vehicles they drive and do not factor in a price increase for a learners permit. So the insurer that fits your age and vehicle best may not even be included in the list of companies shown earlier. That is why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.

The example below shows how choosing a deductible can affect insurance premiums when researching cheap insurance for a learners permit. Data assumes a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.

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In the chart above, a 50-year-old driver could pocket $222 a year by increasing from a $100 deductible to a $500 deductible, or save $334 by choosing a $1,000 deductible. Younger drivers, like the 20-year-old, could lower their rates up to $566 every year just by choosing higher deductibles when buying full coverage.

If you do raise deductibles, it is important to have additional savings on hand to offset the extra out-of-pocket expense associated with higher deductibles.

Comparison of full coverage and liability-only policies

Finding cheap insurance for a learners permit in Indiana should be important to most people, and a good way to buy cheap insurance is to buy liability only. The diagram below shows the difference between car insurance rates with full coverage and liability only. The premiums are based on no tickets, no at-fault accidents, $500 deductibles, single status, and no discounts are applied to the premium.

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If we average all the age groups together, full coverage on your policy costs $1,328 per year over having just liability coverage. Many drivers may wonder if buying full coverage is a waste of money. There is no exact formula of when to exclude physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.

How to find budget-friendly car insurance for a learners permit

The list below details some of the recommended penny-pinching solutions that can help Indiana drivers find lower-cost coverage.

• Better credit scores save money
• Drive attentively and avoid accidents
• Buy vehicles with good safety ratings
• Do not pay for full coverage on older vehicles
• Raise deductibles to save money
• Be a safe driver
• Compare prices as often as possible

That last tip is particularly valuable, as we discussed in the prior information. Prices charged by companies vary considerably, so don’t be tentative to switch to a new company if a cheaper price is available. Having a favorite company is fine, but it’s not a great idea if that faithfulness ends up costing you a small fortune. Now is a great time to shop around to find cheaper car insurance for a learners permit.

Who has the cheapest insurance quotes for new drivers?

Consumers have many ways to quote car insurance rates in Indiana, but the most frequently used methods are using an independent or non-exclusive agent, a captive (or exclusive) agent such as Liberty Mutual or Allstate, or direct either online or via phone. They all follow the same basic process, but each is slightly different in how they price policies.

Independent agents can place your business with multiple companies and can get rate quotes from each one. They have the freedom to give you more rate choices, which can help you get the best shot at cutting your rates. If your premiums go up, they can switch companies in-house which is easy for the insured.

Exclusive agents are usually restricted to a single insurance company, two of the more popular are Allstate and Liberty Mutual agents. They usually cannot quote prices from more than just one company, so you need to shop around if the rates are high.

Opting to purchase car insurance direct means you forego an independent or exclusive agent and instead buy from a direct company like Geico. Buying car insurance direct can be a good choice for consumers who do not have a need for a risk management assessment and have some degree of understanding of how car insurance works and possible exclusions.

Which way is best to find cheap insurance for a learners permit in Indiana? One answer would be shopping direct yields the cheapest rates since it doesn’t require paying agent commissions, but unfortunately, it’s not that cut and dried. A valid argument could also be made that going through an independent agent results in the cheapest rates due to increased selection, but that idea is not necessarily true either. For the right applicant, the exclusive agents have very competitive rates that other companies cannot beat.

Due to that fact that car insurance uses so many rating variables, the best method to get the lowest rate is to obtain price quotes and compare them. Money-saving experts recommend you get rate quotes from independent agents, exclusive agents, and direct companies to have a good selection of rates to choose from. For a list of car insurance companies with low rates, click here to view.