Nobody looks forward to buying car insurance, particularly when they could lower their rates if they shopped around.
Unfortunately, most car insurance policyholders kept their coverage with the same car insurance company for more than four years, and roughly 40% of drivers have never compared rate quotes at all. Drivers in Greenwood could save as much as $697 every year just by comparing rates, but they don't understand how simple it is to compare rate quotes online.
Many insurance companies compete for your business, so it can be very hard to choose a provider to find the absolute best rates possible on car insurance.
Companies offering low-cost prices in Indiana
The providers in the list below are ready to provide price comparisons in Indiana. If multiple providers are shown, we recommend you get prices from several of them in order to find the most affordable rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Crew Cab 4WD||$682||$341||$57|
|Chevrolet Malibu LT||$744||$372||$62|
|Chevrolet Silverado LT Crew Cab 2WD||$1,256||$628||$105|
|Dodge Grand Caravan Hero||$848||$424||$71|
|Dodge Ram Quad Cab SLT 4WD||$728||$364||$61|
|Ford Edge Sport 2WD||$904||$452||$75|
|Ford Escape Limited 4WD||$806||$403||$67|
|Ford F-150 XLT Regular Cab 4WD||$812||$406||$68|
|Ford Focus SE 2-Dr Coupe||$1,064||$532||$89|
|Ford Fusion SE 4-Dr Sedan||$840||$420||$70|
|Honda Accord EX-L 4-Dr Sedan||$928||$464||$77|
|Honda CR-V LX 2WD||$702||$351||$59|
|Honda Civic SI 4-Dr Sedan||$956||$478||$80|
|Honda Odyssey LX||$724||$362||$60|
|Nissan Altima 3.5 SR 2-Dr Coupe||$1,048||$524||$87|
|Toyota Camry XLE||$700||$350||$58|
|Toyota Corolla XLE||$800||$400||$67|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Rate information does not factor in specific location which can lower or raise insurance rates noticeably.
Full coverage rates vs. liability-only
The illustration below examines Dodge Ram insurance premiums with and without full coverage. The prices are based on a clean driving record, no claims, $250 deductibles, single male driver, and no policy discounts are applied.
Dodge Ram rates are for example purposes only. To get rates for your specific vehicle, click here.
When to buy liability coverage only
There is no clear-cut formula for eliminating physical damage insurance, but there is a general convention. If the annual cost of comprehensive and collision coverage is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let's pretend your Dodge Ram claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after the deductible is paid. If you are paying in excess of $200 a year for full coverage, the it may be a good time to stop paying for full coverage.
There are some circumstances where only buying liability is not recommended. If you haven't paid off your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Drive safe and save
The diagram below highlights how traffic violations and accidents drive up Kia Optima auto insurance costs for different age groups. The premiums assume a married female driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Kia Optima rates are for example purposes only. To get rates for your specific vehicle, click here.
These eight discounts can lower your insurance rates
Some providers don't list every discount very well, so here is a list some of the best known and the harder-to-find discounts that you can inquire about if you buy Greenwood auto insurance online. If you do not double check each discount you qualify for, it's possible you qualify for a lower rate.
- Anti-lock Brakes - Cars that have anti-lock braking systems can reduce accidents and earn discounts up to 10%.
- Seat Belt Discounts - Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Anti-theft Discount - Cars equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and that can save you a little bit as well.
- New Car Discount - Buying a new car instead of a used car can cost up to 25% less since new model year vehicles have better safety ratings.
- Multi-line Discount - Larger insurance carriers have a discount if you purchase some life insurance too.
- Student in College - Children who are enrolled in a college that is more than 100 miles from Greenwood and won't have access to an insured vehicle may be able to be covered for less.
- Payment Discounts - If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save up to 5%.
- Defensive Driver - Completing a course teaching safe driver skills can save you 5% or more if your company offers it.
Consumers should know that most discount credits are not given to the whole policy. Most only reduce specific coverage prices like medical payments or collision. So even though you would think you would end up receiving a 100% discount, it doesn't quite work that way. But any discount will help reduce your insurance premiums.
A few popular companies and a summarized list of policyholder discounts are:
- Progressive offers premium reductions for multi-policy, good student, multi-vehicle, online quote discount, homeowner, continuous coverage, and online signing.
- MetLife offers discounts including multi-policy, accident-free, claim-free, good driver, and defensive driver.
- Mercury Insurance includes discounts for ease of repair, anti-theft, type of vehicle, multi-policy, accident-free, and good student.
- Nationwide offers discounts for easy pay, accident-free, defensive driving, business or organization, and good student.
- GEICO has savings for federal employee, defensive driver, emergency military deployment, military active duty, anti-theft, and membership and employees.
- AAA may have discounts that include good student, education and occupation, anti-theft, good driver, multi-policy, and multi-car.
Double check with every prospective company which discounts can lower your rates. Some discounts listed above might not be offered in Greenwood. To choose insurance companies with the best insurance discounts in Indiana, click here to view.
Do I need special coverages?
When it comes to buying a policy for your personal vehicles, there really is no single plan that fits everyone. Everyone's situation is a little different so your insurance needs to address that. For example, these questions may help you determine if you might need an agent's assistance.
- How do I file an SR-22 for a DUI in Indiana?
- I have health insurance so do I need medical payments coverage?
- How much underlying liability do I need for an umbrella policy?
- Are all vehicle passengers covered by medical payments coverage?
- When should I not file a claim?
- What is the rate difference between pleasure use and commuting?
- What are good deductibles for a vehicle?
- Does low annual mileage earn a discount?
- Why am I be forced to buy a membership to get insurance from some companies?
- Do all my vehicles need collision coverage?
If you're not sure about those questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies.
Local agents and auto insurance
Certain consumers still prefer to have an agent's advice. One of the best bonuses of getting online price quotes is the fact that you can find the best rates and still choose a local agent. Buying from local insurance agencies is definitely important in Greenwood.
Once you complete this quick form, the coverage information is emailed to local insurance agents who will give you quotes for your auto insurance coverage. You won't need to do any legwork due to the fact that quote results will go to you directly. You can find the lowest rates and work with a local agent. If for some reason you want to get a rate quote from one company in particular, just find their quoting web page and submit a quote form there.
Finding the right provider should include more criteria than just a cheap quote. Ask your prospective agent these questions:
- Do they specialize in personal lines coverage in Greenwood?
- How does the company pay claims for a total loss?
- Will high miles depreciate repair valuations?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Can they help ensure a fair claim settlement?
- Does the agency support the community they serve?
- Are claims handled at the agent's location?
Do car insurance companies bend the truth?
Car insurance companies such as GEICO, State Farm and Progressive consistently run television and radio advertisements. All the companies make the same claim about saving some big amount just by switching your coverage to them. How do they all offer you a better deal on car insurance? It's all in how they say it.
Different companies have specific criteria for the type of driver that will not have excessive claims. For example, a profitable risk profile may need to be over the age of 35, carries high limits, and insures a new vehicle. Anyone who fits that profile is entitled to the best price and will save a lot on Greenwood car insurance if they switch.
Drivers who don't measure up to those criteria will see a higher premium and this can result in the driver buying from a lower-cost company. Company advertisements say "people who switch" not "everyone that quotes" save money. This is how companies can make those claims.
This emphasizes why you should get Greenwood auto insurance quotes from several different companies. It's not possible to predict which company will have the best prices at this point in time.
Learning about specific coverages of car insurance helps when choosing the best coverages and the correct deductibles and limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Listed below are typical coverage types found on most car insurance policies.
Liability insurance protects you from damages or injuries you inflict on other's property or people in an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/10 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and $10,000 of coverage for damaged property. Alternatively, you may have a combined limit that pays claims from the same limit rather than limiting it on a per person basis.
Liability can pay for claims like pain and suffering, loss of income and legal defense fees. How much liability coverage do you need? That is your choice, but it's cheap coverage so purchase as large an amount as possible. Indiana requires drivers to carry at least 25/50/10 but it's recommended drivers buy more coverage.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage pay for expenses like ambulance fees, EMT expenses, dental work and chiropractic care. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and may carry a deductible
Uninsured Motorist or Underinsured Motorist insurance
This provides protection when other motorists either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as damage to your vehicle.
Due to the fact that many Indiana drivers only carry the minimum required liability limits (25/50/10), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important. Frequently these limits are similar to your liability insurance amounts.
Collision coverage protection
This coverage covers damage to your vehicle resulting from a collision with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as colliding with another moving vehicle, scraping a guard rail and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. It's also possible to choose a higher deductible to bring the cost down.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like vandalism, rock chips in glass, hitting a bird, a tree branch falling on your vehicle and a broken windshield. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle's value is low it's probably time to drop comprehensive insurance.
Find cheap rates by being thorough
When you buy Greenwood auto insurance online, it's not a good idea to buy lower coverage limits just to save a few bucks. There have been many cases where consumers will sacrifice liability coverage limits and learned later that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase a proper amount of coverage at the best price while still protecting your assets.
Some insurance companies may not have online rate quotes and these smaller companies provide coverage only through independent agents. Lower-priced auto insurance in Greenwood can be bought online and also from your neighborhood Greenwood agents, and you need to price shop both to get a complete price analysis.
More information can be read at the links below
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- Who Has the Cheapest Indiana Auto Insurance Rates for Active Military? (FAQ)
- What Auto Insurance is Cheapest in Greenwood, Indiana? (FAQ)
- How Much are Car Insurance Rates for Drivers Over Age 50 in Indiana? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Business Use in Indiana? (FAQ)
- What Insurance is Cheapest for a Jeep Grand Cherokee in Indiana? (FAQ)
- Who Has Cheap Indiana Car Insurance Rates for Drivers Requiring a SR22? (FAQ)
- Auto Crash Statistics (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Vehicle Insurance in the U.S. (Wikipedia)