Being forced to pay for expensive insurance premiums can eat up your monthly budget and maybe even restrict other spending. Doing a price comparison is recommended to slash your bill and have more diposable income.

A recent insurance study discovered that a large majority of drivers have been with the same company for over three years, and approximately 38% of consumers have never even compared quotes to find cheap rates. With the average insurance premium being $1,400, Indiana drivers could save nearly 55% every year just by getting comparison quotes, but most just don't grasp the amount of savings they would get if they switched to a more affordable policy. Drivers have many insurers to choose from, and though it is a good thing to have multiple companies, so many choices can make it hard to compare rates and find the lowest cost insurance.

Lower Your Rates with these tips

Lots of things are used in the calculation when quoting car insurance. Most are fairly basic such as your driving history, but other factors are not as apparent like your continuous coverage or how safe your car is. One of the most helpful ways to save on car insurance is to to have a grasp of some of the factors that come into play when calculating the rates you pay for car insurance. When consumers understand what determines base rates, this helps enable you to make changes that can help you get big savings.

The most recommended method to get policy rate comparisons is to know the trick auto insurance companies pay for the opportunity to give free rates quotes. The only thing you need to do is provide details such as if you're married, how much education you have, if it has an anti-theft system, and whether or not you need a SR-22. Your rating data is submitted instantly to many highly-rated insurers and they return rate quotes with very little delay.

To check rates for your car now, click here and complete the form.

The car insurance companies shown below can provide free rate quotes in Indiana. If multiple companies are shown, we suggest you click on several of them to get a more complete price comparison.

Insurance Price Estimates for Popular Vehicles in Kokomo
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Equinox LT AWD $996 $498 $83
Chevrolet Malibu LTZ $922 $461 $77
Chevrolet Silverado LS Crew Cab 2WD $1,282 $641 $107
Dodge Ram Crew Cab TRX 2WD $1,032 $516 $86
Ford Escape XLS 2WD $924 $462 $77
Ford F-150 STX Super Cab 4WD $840 $420 $70
Ford Focus SE 4-Dr Sedan $1,176 $588 $98
Ford Fusion Sport AWD 4-Dr Sedan $1,148 $574 $96
GMC Sierra SLT Extended Cab 4WD $818 $409 $68
Honda Accord EX 2-Dr Coupe $1,072 $536 $89
Honda CR-V LX 4WD $748 $374 $62
Honda Civic GX 4-Dr Sedan $974 $487 $81
Honda Odyssey Touring $1,054 $527 $88
Mazda 3 S Grand Touring 4-Dr Sedan $802 $401 $67
Nissan Altima 2.5 S 2-Dr Coupe $978 $489 $82
Toyota Camry XLE $1,140 $570 $95
Toyota Corolla LE $1,026 $513 $86
Toyota Prius $704 $352 $59
Volkswagen Jetta SE 4-Dr Sedan $960 $480 $80
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Rate information does not factor in specific Kokomo garaging location which can increase or decrease prices considerably.

Raise deductibles and save

One of the hardest decisions when shopping for car insurance is how low should you set your deductibles. The data tables below sum up the rate difference when you select higher and lower deductibles. The first data table uses a $100 physical damage coverage deductible and the second rate table uses a $500 deductible.

Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.

Nissan Sentra insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sentra 2 $210 $436 $280 $16 $84 $1,051 $88
Sentra 2.0 S $210 $514 $280 $16 $84 $1,129 $94
Sentra 2.0 SR $210 $514 $280 $16 $84 $1,129 $94
Sentra 2.0 SL $242 $514 $280 $16 $84 $1,161 $97
Sentra SE-R $242 $514 $280 $16 $84 $1,161 $97
Sentra SE-R SPEC V $242 $592 $280 $16 $84 $1,239 $103
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Nissan Sentra insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sentra 2 $154 $294 $280 $16 $84 $828 $69
Sentra 2.0 S $154 $348 $280 $16 $84 $882 $74
Sentra 2.0 SR $154 $348 $280 $16 $84 $882 $74
Sentra 2.0 SL $176 $348 $280 $16 $84 $904 $75
Sentra SE-R $176 $348 $280 $16 $84 $904 $75
Sentra SE-R SPEC V $176 $400 $280 $16 $84 $956 $80
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rate information does not factor in specific location information which can change premium rates considerably.

We can derive from the above data that using a $100 deductible will cost you about $21 more each month or $252 for a full year than selecting the higher $500 deductible. Since you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally go more than 19 months between claims, you would probably come out ahead by selecting a higher deductible.

An analysis of deductible level

The diagram below illustrates how choosing a deductible and can affect Toyota Camry insurance rates for different age groups. The costs are based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.

Toyota Camry rates are for example purposes only. To get rates for your specific vehicle, click here.

Buying the right vehicle insurance in Indiana is an important decision

Despite the high cost of buying insurance in Kokomo, insuring your vehicle is required by state law in Indiana and it also provides benefits you may not be aware of.

The benefits of insuring your vehicle are without a doubt worth the cost, specifically if you ever have a liability claim. According to a recent study, the average American driver overpays more than $825 a year so smart consumers compare quotes each time the policy renews to help ensure money is not being wasted.

Kokomo auto insurance discounts

Insuring your fleet can be pricey, but you might already qualify for some discounts that can help lower your rates. Many discounts should be triggered at the time you complete a quote, but a few must be requested specifically before you will receive the discount.Save money with discounts

Don't be shocked that most discounts do not apply to your bottom line cost. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So when it seems like it's possible to get free car insurance, it just doesn't work that way. Any amount of discount should help lower your overall premium however.

To choose providers that offer multiple discounts in Indiana, follow this link.

Do I need a local insurance agent?

Some people prefer to talk to an insurance agent and doing that can be a smart decision Licensed agents can help determine the best coverages and help file insurance claims. A good thing about comparing insurance prices online is you can get the lowest rates and still have an agent to talk to.

Kokomo insurance agentsTo help locate an agent, after submitting this short form, the coverage information is instantly submitted to companies in Kokomo that can give you free Kokomo auto insurance quotes for your insurance coverage. It's much easier because you don't need to leave your computer since price quotes are sent to you. If you want to get a comparison quote from a particular provider, just search and find their rate quote page and fill out their quote form.

Choosing a provider shouldn't rely on just the price. These are some questions your agent should answer.

If you would like to find a reputable insurance agent or broker, it's helpful to know the different types of agencies and how they operate. Insurance agencies in Kokomo can be classified as either independent agents or exclusive agents depending on their employer. Either type can sell auto insurance policies, but it is a good idea to know the subtle differences since it may influence your agent selection.

Exclusive Insurance Agents

Exclusive agents can only provide pricing for a single company like AAA, Allstate, State Farm, or Farmers Insurance. These agents are unable to compare other company's rates so if the price isn't competitive there isn't much they can do. These agents receive extensive training on what they offer which aids in selling service over price.

Independent Agencies or Brokers

Agents that choose to be independent often have affiliation with several companies so as a result can place your coverage with a variety of different insurance companies depending on which coverage is best. If you want to switch companies, they can switch companies in-house and you stay with the same agent.

If you are comparing rate quotes, you need to get rate quotes from at a minimum one independent agency to maximize your price options.

How to know if you need help

When choosing coverage online or from an agent, there really isn't a "perfect" insurance plan. Your financial needs are unique and your auto insurance should be unique as well.Drive safe and save Here are some questions about coverages that may help you determine whether your personal situation could use an agent's help.

If it's difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, complete this form or click here for a list of auto insurance companies in your area. It only takes a few minutes and may give you better protection.

In conclusion

As you shop your coverage around, it's a bad idea to buy poor coverage just to save money. In many instances, an insured dropped collision coverage only to regret they didn't purchase enough coverage. Your strategy should be to get the best coverage possible at the lowest possible cost, but don't skip important coverages to save money.

There are still a few companies who may not provide price quotes online and most of the time these regional insurance providers only sell through local independent agencies. Cost effective insurance can be purchased from both online companies and also from your neighborhood Kokomo agents, and you need to price shop both so you have a total pricing picture.

We just showed you a lot of tips how to save on insurance in Kokomo. It's most important to understand that the more companies you get rates for, the better your chances of lowering your rates. You may even be surprised to find that the biggest savings come from an unexpected company. Smaller companies can often provide lower rates in certain areas as compared to the big name companies such as GEICO and State Farm.

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