It's hard to avoid all the catchy commercials from auto insurance companies like The General and Liberty Mutual promising dirt cheap rates, so you should just select the one with the best jingle, right?
It's not quite that easy, unfortunately, as there are a lot of unknown elements such as if you are married or single, if you need full coverage or liability-only, and the likelihood of vehicle theft where you live. This article will detail the things that cause high insurance rates and educate you enough to have a good start in finding the cheapest insurance for hybrids.
For hybrids, one of the largest things that help determine car insurance rates is where your residence is. Cities with larger populations or higher claim trends like Gary, Portage, and Indianapolis will most likely have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the gratification of cheaper auto insurance rates.
The illustration below sorts the most expensive areas in Indiana for hybrid vehicles in which to buy car insurance.
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Rate information is comparative as specific Indiana zip code can increase or decrease coverage rates considerably.
The type of vehicle needing coverage is one of the biggest factors when comparison shopping for cheaper auto insurance for hybrid vehicles. Vehicles with limited top-end speed, a plethora of safety features, or a track record of few liability claims will cost much less to insure than adrenaline junky models. The table below features auto insurance costs for a number of the cheapest automobiles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$608|
|Ford Escape XLS 4WD||$613|
|Ford Explorer XLT 2WD||$622|
|Honda CR-V EX-L 4WD||$623|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$677|
|Chevrolet Impala LTZ||$701|
|Honda Odyssey EX-L W/Rear Entertainment||$694|
|Ford Edge SEL AWD||$706|
|Ford Focus SE 4-Dr Sedan||$714|
|Hyundai Sonata GLS 4-Dr Sedan||$706|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$715|
|Volkswagen Jetta SEL 4-Dr Sedan||$706|
|Ford F-350 XLT Super Cab 2WD||$717|
|Chevrolet Malibu LS||$721|
|Toyota Camry LE||$729|
|Toyota RAV4 Limited 4WD||$721|
|GMC Sierra SLE Crew Cab 2WD||$728|
|Jeep Grand Cherokee Laredo 4WD||$721|
|Ford F-150 XLT Crew Cab 4WD||$734|
|Dodge Grand Caravan Crew||$741|
|Toyota Camry Hybrid||$754|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$758|
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rates do not factor in garaging location in Indiana which can change price quotes considerably.
Looking at the numbers, you can infer that models like the Hyundai Elantra, Ford Escape, and Ford Explorer are likely to be a few of the most economical vehicles to insure for hybrids.
The information below demonstrates how choosing different deductibles can impact premium costs when searching for cheap insurance for hybrid vehicles in Indiana. The data is based on a single female driver, full coverage, and no other discounts are factored in.
In the chart above, a 30-year-old driver could lower their policy premium by $344 a year by switching from a $100 deductible to a $500 deductible, or save $516 by changing to a $1,000 deductible. Younger drivers, such as the 20-year-old example, can cut up to $772 or more just by using higher deductibles.
If you do raise deductibles, it will be important to have enough funds in savings to be able to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Selecting the highest-rated auto insurance company is difficult considering how many companies sell coverage in Indiana. The company information in the next section can help you decide which auto insurance companies you want to consider comparing prices from.
These rankings only include large, nationwide insurance companies, so companies that focus mainly on Indiana business are not factored into these rankings. If you'd like to compare prices from these and other competitive companies, click this link.
Top 10 Major Auto Insurance Providers in Indiana Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
- Erie Insurance
You may be paying too much for car insurance
Indiana auto insurance rates are determined by lots of factors which can significantly increase or decrease the cost of your policy. Getting older, buying higher coverage limits, or having a fender bender can trigger price changes that can make some companies more affordable than the competition. Not only that, but insurance companies file new rates every year to ensure their profitability. Higher than normal claims may result in rate hikes, while lower claims may cause lower-priced Indiana car insurance rates.
As an example, the data below shows which companies have the cheapest car insurance in Indiana for a 40-year-old female driver with no prior accidents, a clean driving record, and solid credit. When quoting prices based on her current risk factors, Travelers offers the most affordable car insurance rates in Indiana at $602 annually. This is $638 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and The Hartford are the rest of the cheapest Indiana auto insurance companies.
In this next rate comparison, we will give the driver from the above example some claims, slightly worse credit, and an imperfect driving record. Due to the fact that every auto insurer uses their own formula to set their prices, analyzing rate quotes may now show a new list of the cheapest Indiana car insurance companies as shown below.
Indiana Farmers Mutual now has the best car insurance rate in Indiana with Auto-Owners, USAA, Nationwide, and Cincinnati Insurance completing the list. This example proves why consumers need to compare many different companies when trying to get affordable auto insurance quotes for hybrid vehicles. Rates are calculated by many different factors and can decrease or increase without notice, so the cheapest rate the last time you checked may now be one of the higher cost companies.
How to find cheaper auto insurance for hybrid vehicles
The list below summarizes a few money-saving ideas that can help you quote more affordable auto insurance.
- Raise deductibles
- Frequent claims may make car insurance unaffordable
- Get cheaper liability coverage by choosing a safer vehicle
- Higher credit scores may earn you cheaper rates
- On older vehicles, drop full coverage
- Buy your auto and home insurance from the same company and save
- Compare quotes from other companies often
The last tip is remarkably crucial, as was pointed out in the article above. Car insurance rates fluctuate constantly, so don't be unwilling to switch companies if a lower-cost policy is available.
Having a favorite company is fine, but is isn't recommended if that devotion results in you overpaying hundreds of dollars year after year. Take a few minutes and compare rates and find cheaper auto insurance for hybrid vehicles.