Best Cheap Auto Insurance Quotes for Seniors in Indiana

Finding decent, low-cost auto insurance is easier said than done, and finding out which company has the cheapest auto insurance rates for seniors takes a bit more work. Insurance rates will most likely be moderately cheaper than the average policy in Indiana due to the lower likelihood of claims related to offering coverage for senior citizens. Affordable insurance should be easily found with minimal effort.
Every insurance company uses their own calculation for filing rates in each state, so first let’s look at the rankings for the auto insurance companies with the most affordable rates in Indiana.

It’s a good idea to know that Indiana auto insurance rates are impacted by many things which can significantly increase or decrease the price of your policy. That is why it is important to spend some time comparing rates when trying to get the most budget-friendly auto insurance quotes for seniors. Rates consist of many things and can change substantially, so the most affordable company two years ago may now not even be in the top five.

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Travelers offers some of the cheapest car insurance rates in Indiana at around $614 annually. Cincinnati Insurance, USAA, Erie, and Western Reserve would also be considered some of the cheaper Indiana auto insurance companies.

As shown above, if you have coverage with Erie and switched to Travelers, you could earn an annual savings of about $119. Insureds with Western Reserve could save as much as $232 a year, and Indiana Farmers Mutual customers might cut rates by $235 a year.

To find the best cheap car insurance for seniors in Indiana for your vehicle, click here to get quotes or visit any of the companies below.

Understand that those policy rates are averaged for all types of insureds and vehicles and do not factor in a rate discount for seniors. So the company that has the cheapest price for you may not even be included in the chart above. That points out the importance of why you need to get car insurance quotes using your own driver data and vehicle information.

The car, truck, or SUV requiring insurance is probably the most important factor when comparison shopping for the best cheap car insurance for seniors in Indiana. Vehicles with limited speed and performance, an excellent safety record, or low incidents of liability claims will cost less to insure than fast, unsafe models.

The data below outlines auto insurance prices for the most economical automobiles to insure.

Price data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Information does not factor in garaging location in Indiana which can lower or raise premiums considerably.

Looking at the numbers, you can assume that vehicles like the Honda CR-V, Ford Escape, Honda Accord, Chevrolet Traverse, and Ford Edge are a few of the most economical vehicles to insure for senior citizens.

For senior citizens, one of the largest considerations that help set the amount you pay for auto insurance is where your residence is in Indiana. Regions with more people or even just more weather-related claims like Gary, Portage, and Indianapolis tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates generally have lower rates.

The following table lists the highest-priced places in Indiana for seniors to buy an auto insurance policy in.

Prices are estimated as vehicle location can lower or raise coverage rates considerably.

Rate difference between full and liability-only coverage

Finding the best cheap car insurance for seniors in Indiana is the goal of most vehicle owners, and one great way to save on the cost of insurance is to buy liability only. The illustration below shows the difference between insurance rates with and without physical damage coverage. The data is based on a clean driving record, no claims, $100 deductibles, drivers are not married, and no discounts are applied.

If all age groups are averaged, full coverage costs an extra $1,613 per year over and above liability coverage. That may make you wonder if you should buy full coverage. There is no specific rule to delete full coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your vehicle’s claim settlement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $10,000 after you pay the deductible. If it’s costing you more than $1,000 a year to have full coverage, then it’s probably a good time to buy liability coverage only.

There are some circumstances where only buying liability is not a good plan. If you still have a lienholder on your title, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

Get discount Indiana insurance rates

Insurance companies that sell the best cheap car insurance for seniors in Indiana may provide premium discounts that may potentially lower prices by as much as 25% or more if you qualify. A few popular companies and the discounts they provide include:

The illustration below compares yearly insurance costs with and without discounts applied to the rates. Data assumes a male driver, no claims, a clean driving record, Indiana state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with marriage, multiple vehicle, passive restraint, vehicle safety, claim-free, and safe-driver discounts applied. In this example, the average amount saved each year on auto insurance for seniors is % or $.

How to find the best cheap car insurance for seniors in Indiana

The list below shows many thrifty solutions that can help drivers locate the cheapest coverage.

• Frequent claims will increase rates
• Drivers with good credit often pay less
• Drive vehicles with five-star safety ratings
• Be a cautious driver
• Staying accident-free helps keep rates low
• Shop around once a year for cheaper rates

That last tip is certainly important, as was affirmed in this article. Prices charged by car insurance companies go up and down frequently, so don’t be afraid to change to a new company if a cheaper rate is available.

Being loyal to a particular company is commendable, but it’s not a great idea if that dedication is costing several hundred dollars every year. In just a couple of minutes you could shop around and find cheaper car insurance for seniors.