The words "low-cost" and "insurance" probably shouldn't be used together, specifically when you are shopping around for the best insurance rates for 17 year olds. Because of the high cost, let's teach you some situations that have a considerable impact on car insurance premiums, and see if we can help you take a little off your next policy.
Determining which insurers offer the most affordable insurance rates for 17 year olds in Indiana will require a little more work in order to find the lowest price.
Every car insurance company has a unique formula for determining prices, so we'll go over the insurance companies with the overall best prices in Indiana.
Compare Cheap Insurance Quotes for Teens
|Rank||Company||Cost Per Year|
|6||Indiana Farmers Mutual||$849|
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Travelers quotes some of the lowest car insurance rates in Indiana at around $596 a year. Cincinnati Insurance, USAA, Erie, and Western Reserve would also make the list of some of the cheapest Indiana car insurance companies.
As shown in the rates above, if you buy coverage from Erie and switched to Travelers, you could earn an annual premium reduction of in the neighborhood of $116. Indiana drivers with Western Reserve may save as much as $242 a year, and Indiana Farmers Mutual policyholders might lower prices by up to $253 a year.
If you want to find out if you're overpaying, click here to start your free quote or quote prices from the following companies.
These policy rates are averages across all types of insureds and vehicles and and are not calculated with a rate increase for 17 year olds. So the car insurance company that fits your age and vehicle best may not even be in the list above. That is why you need to compare prices as often as possible using your own driver and vehicle profiles.
For teen drivers, one of the big criteria that aid in calculating car insurance rates is your address. Areas with more people or higher crime rates like Gary, Merrillville, and Indianapolis likely pay more, whereas areas that tend to be more rural can boast about having cheaper rates.
The table below sorts the most costly cities in Indiana for 17 year olds to purchase car insurance in.
|Rank||City||Premium Per Year|
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Table data uses approximated as the garaging address in Indiana can change premiums significantly.
The make and model of vehicle you are buying coverage for is one of the main factors that determines the availability of the most economical car insurance for 17 year olds. Vehicles with reasonable performance levels, good safety features, or a positive history of liability claims will cost much less to insure than high performance models.
The information below shows car insurance costs for the most affordable vehicles to insure in Indiana.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$2,243|
|Ford Escape XLT 4WD||$2,266|
|Ford F-150 STX Super Cab 2WD||$2,490|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,513|
|Toyota Tacoma 4WD||$2,521|
|Ford Focus S 4-Dr Sedan||$2,636|
|Ford Edge SEL AWD||$2,646|
|Volkswagen Jetta S 4-Dr Sedan||$2,659|
|Ford Fusion S 4-Dr Sedan||$2,664|
|Toyota Camry LE||$2,659|
|Toyota RAV4 Limited 2WD||$2,668|
|Chevrolet Equinox LS 2WD||$2,659|
|Ford Explorer Eddie Bauer 4WD||$2,683|
|Dodge Grand Caravan Crew||$2,688|
|Hyundai Elantra Blue 4-Dr Sedan||$2,782|
|Toyota Corolla LE||$2,806|
|Chevrolet Impala LTZ||$2,816|
|GMC Sierra 2500HD SLE Extended Cab 4WD||$2,829|
|Jeep Grand Cherokee Limited 2WD||$2,835|
|Nissan Altima 3.5 SR 4-Dr Sedan||$2,829|
|Chevrolet Malibu LTZ||$2,834|
|Honda Odyssey Touring||$2,829|
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Above prices assume single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in specific garaging location which can lower or raise insurance rates substantially.
Based upon these rates, vehicles like the Honda CR-V, Ford Escape, and Toyota Prius are a few of the more affordable vehicles to insure for teen drivers. Car insurance rates will tend to be more expensive just due to the fact that there is more claim exposure for 17 year olds, but overall those vehicles will have the lowest insurance prices that you are likely to find.
Choosing the best car insurance company can be a challenge considering how many choices there are in Indiana. The ranking data in the lists below could help you analyze which providers to look at purchasing coverage from.
These rankings are for large nationwide companies, so companies that focus mainly on Indiana business will not be included in these rankings. To check rates from the insurers below and more, click here.
Top 10 Major Auto Insurance Providers in Indiana Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Top 10 Major Auto Insurance Providers in Indiana Ranked by Value
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- 21st Century
The diagram below illustrates how your choice of deductibles can impact insurance costs when searching for cheap insurance for 17 year olds in Indiana. The rate quotes are based on a single female driver, comp and collision included, and no discounts are taken into consideration.
The chart above illustrates that a 40-year-old driver could save $222 a year by increasing from a $100 deductible to a $500 deductible, or save $334 by selecting a $1,000 deductible. Younger drivers, such as the Age 20 example, could potentially save as much as $566 or more by selecting a higher deductible.
When using a larger deductible, it will be important to have additional funds squirreled away to satisfy the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Tips for buying more affordable insurance for 17 year olds in Indiana
The list below details some of the recommended money-saving suggestions that can help Indiana drivers locate lower-cost coverage.
- Buy vehicles with good safety ratings
- Keep your driving record clean
- Good credit can help you save money
- Staying accident-free helps keep rates low
- Try to pay small claims out-of-pocket
- Look for cheaper rates once a year by shopping around
The final tip is particularly critical, as was discussed in this article. Auto insurance rates can change significantly in a year, so you should be ready to buy a policy from a new company if a better deal can be had. Many drivers have brand loyalty and that's fine, but it's not recommended if your bullheadedness ends up costing you several hundred dollars every year. It only takes a couple minutes to compare prices to find cheaper insurance for 17 year olds.