Deciphering which companies have the lowest-priced car insurance rates in Noblesville will involve a tad more effort in order to find the best policy. Each insurer has a unique formula for establishing rates, so we'll take a look at the car insurance companies that tend to have lower prices in Indiana.
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$849|
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Travelers generally has some of the best car insurance rates in Noblesville at around $614 annually. This is $626 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual also rank well as some of the lowest-priced Noblesville, IN car insurance companies.
In the rate table above, if you buy coverage from Cincinnati Insurance and switched to Travelers, you could realize a yearly price reduction of about $44. Customers with USAA may save as much as $53 a year, and Erie policyholders might realize rate reductions of up to $98 a year.
If you would like to find cheaper car insurance rates, click here to begin a quote or feel free to get quotes from the companies below.
It's important to note that these policy rates are averaged for all drivers and vehicles and do not factor in an exact vehicle garaging location in Noblesville. So the insurer that fits your situation best may not even be in the top 36 companies in the list above. That affirms the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.
For drivers in Noblesville, one of the largest criteria that aid in calculating car insurance rates is where you keep your vehicle in Noblesville. Larger areas tend to have more expensive auto insurance rates, whereas areas with less congestion tend to receive cheaper rates.
The illustration below lists the most expensive places in Indiana to purchase auto insurance in. Noblesville shows up at #24 with the annual price of $930 for car insurance, which is about $78 per month.
|Rank||City||Average Per Year|
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Information shown are estimated as the specific garaging location can affect premium rates greatly.
Why are you paying too much for Noblesville car insurance?
Noblesville, IN car insurance rates are calculated based on many things that may substantially change the policy premium. Simply having another birthday, becoming a homeowner, or getting a few speeding tickets may generate price changes resulting in some companies being cheaper than others. In addition to those changes, car insurance companies change premium rates every year or even multiple times each year in order to maintain liquidity for claims. A period of higher than normal claims may cause more expensive prices, while profitable underwriting can produce more affordable Noblesville car insurance rates.
The graph below shows which company has the cheapest car insurance in Noblesville, IN for a 40-year-old female driver with no accidents or violations, and solid credit. If we estimate rates based on her personal risk profile, Travelers may offer the most affordable car insurance rates in Noblesville at $648 per year. This is $592 less than the average policy premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve are also on the list of the best Noblesville, IN auto insurance companies.
Now we will give the driver from the first rate comparison a claim, poor credit, and a speeding ticket. Since every car insurance company uses a different method for setting prices, getting updated rate quotes may result in a different set of the cheapest Noblesville car insurance companies as shown below.
The Hartford now has the cheapest price in Noblesville with Auto-Owners, USAA, Cincinnati Insurance, and Nationwide also being competitive. This example demonstrates why it is so important to shop around when trying to find affordable auto insurance quotes in Noblesville. Prices are determined by many things and can increase or decrease at any time, so the lowest-price company the last time you compared rates may now cost much more than other companies.
The car, truck, or SUV that needs insurance is a significant factor when quoting the lowest-priced insurance in Noblesville. Vehicles with lower acceleration and performance, an excellent safety record, or a low likelihood of having liability claims will cost much less to insure than adrenaline junky models. The next list shows insurance premiums for a number of the most cost-effective vehicles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$934|
|Honda CR-V LX 4WD||$942|
|Honda Odyssey LX||$952|
|Dodge Grand Caravan CV||$963|
|Chevrolet Equinox LS AWD||$1,018|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,051|
|Ford F-150 XLT Regular Cab 2WD||$1,070|
|Ford Edge Sport AWD||$1,074|
|Toyota Camry XLE||$1,079|
|Ford Focus S 4-Dr Sedan||$1,122|
|Chevrolet Impala LS||$1,128|
|Toyota Tacoma Double Cab 4WD||$1,135|
|Ford Explorer Limited AWD||$1,144|
|Volkswagen Jetta S 4-Dr Sedan||$1,147|
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rates do not factor in zip code location which can impact premiums greatly.
Based upon these rates, we can tell that models like the Ford Escape, Honda CR-V, Honda Odyssey, and Toyota Prius are likely to be the cheapest vehicles to insure for drivers in Noblesville.
The example below shows how different deductible levels can change insurance premiums when getting quotes for cheap insurance in Noblesville. The rates are based on a married male driver, full coverage, and no discounts are taken into consideration.
In the chart above, a 50-year-old driver could pocket $272 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $412 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old, can save $912 or more just by choosing larger deductibles.
When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have additional funds in a savings account to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Rate comparison of full coverage and liability-only
Reducing premiums for insurance should be important to most vehicle owners, and one common way to buy cheaper insurance in Noblesville is to only pay for liability coverage. The example below compares insurance prices with and without physical damage coverage. The costs are based on no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no additional discounts are factored in.
If the expense is averaged for all age categories, full coverage costs an additional $1,771 per year more than buying just liability insurance. That may make you wonder when is it a good idea to stop buying full coverage. There is no exact formula for dropping full coverage, but there is a broad guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let's pretend your vehicle's replacement value is $12,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $11,000 after you pay the deductible. If you are currently paying more than $1,100 annually for physical damage coverage, then you might consider buying liability only.
There are some conditions where dropping physical damage coverage is not recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder's interest. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
How to find cheaper car insurance in Noblesville
Here are many thrifty solutions that can help Noblesville drivers get low-cost auto insurance.
- Bundle car and home insurance and save money
- Increase your credit score
- Being accident-free can lower rates significantly
- On older vehicles, drop full coverage
- Vehicles with safetly features generally cost less to insure
- Shop your coverage around for the best deal
The final tip is especially important, as we noted in the prior information. Car insurance prices can change significantly in a year, so don't be afraid to buy a policy from a new company if a lower-cost policy is available.
Many drivers tend to have loyalty to a certain company, but it's not recommended if that stubbornness costs you major coinage every year. Now is a great time to compare rates to find cheaper insurance in Noblesville.