The state of Indiana is home to one of the most famous raceways in the world. Home to the Indianapolis 500 and the Brickyard 400, the Indianapolis Speedway is an iconic sports' venue. Many of the greatest drivers in the history of car racing have driven here and won the storied race. While the risks involved in these races are greater than you will ever face in driving, one thing that you need to worry about when driving in Indiana is car insurance. Will Power did not need to shop for lower car insurance rates, but if you are a resident of Indiana, it is a topic that should interest you greatly.
Understanding Indiana Car Insurance Laws
Like many other states, Indiana has its own set of car insurance laws to protect motorists. The state has one of the lowest rates of car insurance and among least minimum requirements. Indiana is a Tort state, as well as having a Financial Responsibility Law. This means that if you are in an accident and found to be at fault- you or your insurer are responsible for paying for the damages and injury treatments incurred in an accident. Most motorists do this by filing a bond, but some use a certificate of self-insurance as well. Another option is having $40,000 in securities or cash held by the state for the event of an at-fault accident.
The state follows the 25/50/25 coverage where each car insurance policy must carry a minimum of $25,000 per injured person as bodily injury liability, up to a maximum of $50,000 for all passengers injured. In addition, the policy must include $25,000 as property damage liability in case of an accident where public property such as signposts and traffic signals are damaged. Most drivers do opt for at least the minimum underinsured/uninsured motorist coverage of $25,000 per person, $50,000 per accident- though you can reject this coverage if done in writing. Personal injury protection (PIP) is not required in the state of Indiana.
- $25,000 bodily injury liability for one person in a single accident
- $50,000 bodily injury liability total for a number of people in a single accident
- $25,000 property damage liability
Indiana is one of the many states in the U.S. that requires drivers to secure minimum insurance. However, the minimal requirements are not sufficient in the event you find yourself in an accident, Certainly, the minimum insurance requirements are the best way to get the lowest rate, but it is not the most expedient. One wise addition is medical coverage. You never know how severe an accident will be, and even a seemingly minor accident could seriously injure you. One wise component to your policy is towing insurance since you never know when or where your car will break down. Finally, if you have bought a new car that is quite expensive, it would be wise to take out a comprehensive insurance policy, since you are attempting to protect your investment.
Does the Insurance I.D. Card hold any importance in Indiana?
Anytime you are stopped by the police, you will be asked for proof of insurance. Insurance carriers usually make sure that you are either able to obtain an identification card- in the mail, or by way of printing one out online. Whenever you renew your policy, you should be able to get a new proof of insurance for this purpose. To be clear, the proof of insurance card is going to have not only the name of the person insured, but a description of the vehicle or vehicles covered, as well as the name of the insurer, the policy dates- when it goes active, when it expires, and the policy number.
You may notice when you register your vehicle, it will ask if you are in compliance with Indiana car insurance law- that is, on the application, there will be an affirmation that you will continue to ensure your vehicle as long as it is registered. In the State of Indiana, allowing your coverage to lapse is looked on in the same light as not having coverage at all.
- You must show your insurance I.D. card to police officers that stop you for safety checks or traffic violations.
- If you are involved in an accident or if you got a ticket and are cited to court, you also need to carry the card with you.
- You will also need documentary proof of Financial Responsibility when you register a vehicle.
What Are The Penalties In Case Of Not Observing The Indiana Legal Requirements?
Driving without insurance in Indiana can result in a 90-day suspension of your driving license with a $150 reinstatement fee. Violating the state's car insurance laws twice in a year leads to a one-year suspension of your driving privileges.
Be aware that some insurers may not even sell a policy if you have been driving while uninsured. Indiana car insurance laws and penalties are pretty high, so it is definitely not advisable to ever allow your policy to lapse, or to go without coverage.
What Is SR-22 Insurance?
SR-22 is the name of the form used by insurance companies to notify the state that an individual has the required minimum insurance coverage. In order to prove that the person has established financial responsibility, the SR-22 form is completed by the insurance company and is submitted electronically. Once the form has been submitted, driving privileges will usually be reinstated on a permanent or restricted basis.
The SR-22 certificate can be issued in the form of an owner’s certificate, a non-owner/operator’s certificate, or an owner/operator’s certificate. In order to establish SR-22 coverage, the driver is typically required to obtain at least the lowest amount of liability insurance that is required by the state. Drivers are typically required to maintain SR-22 coverage for a period of three to five years, depending on the nature of the individual’s license suspension. If the driver fails to maintain insurance coverage, he or she may again lose driving privileges and may face additional penalties.
If your driver’s license has been suspended or revoked due to certain motor-vehicle violations, the state typically requires that drivers establish SR-22 financial responsibility before your driver’s license or vehicle plates can be reinstated. Violations that may require SR-22 coverage include:
- Driving without car insurance
- Driving under the influence (DWI/DUI)
- Reckless driving
- Automobile accident without insurance
- Multiple moving violations in a 12-month period
- Driver’s license suspension or revocation
Indiana Car Insurance Rates
Indiana has one of the most affordable car insurance rates in the nation.
Average car insurance cost in Indiana:
|Indiana Minimum Car Insurance Coverage||$436 - $674|
|Indiana Minimum Full Coverage Car Insurance||$1,083 - $1,318|
|Indiana Minimum Car Insurance Coverage for Young Drivers||$1,156 - $1,386|
|Indiana Minimum Full Coverage Car Insurance for Young Drivers||$1,803 - $2,035|
|Average car insurance in Indiana per month||$36 - $169|
Car Insurance Companies in Indiana
There are many car insurance companies in Indiana offering car insurance quotes. In fact, the market is so competitive that you may have to be careful in choosing the right insurance quote from the right car insurance company when you buy a car insurance.
You can be assured of a good quote in Indiana if you select the right car insurance company. For this, you need to do a bit of shopping, either online or offline. It is a major factor in determining whether you have got a reliable and cheap quote. Several insurers in the state may tempt you to buy the most expensive covers. These are certainly not the most well-reputed companies. You can shortlist some of the most reputed insurers in Indiana based on sound insurance ratings, and excellent reviews in areas of its financial stability, claims handling, service excellence and availability of covers, etc. Also, choose a company that offers flexible payment options and discounts for paying yearly or half-yearly premiums upfront. This can result in a significant amount of saving and allow you to budget accordingly.
Car Insurance Quotes in Indiana
Average car insurance quotes for Indiana car insurance companies
|Rank||Car Insurance Company Name||Price|
|5||Indiana Farm Bureau||$452|
Find The Best Cheap Indiana Car Insurance Quotes
You have an insurance quote does not mean that will be your final price. Discounts are available, and they range from having a good driving record to making sure your car has up to date safety features. In general, the best way to make sure you get the best discounts on your driving record is to maintain a clean driving record, use a car that is in good condition, and park your car in a safe and secure area. Acquiring cheap Indiana car insurance does not mean that you need to make significant, life-changing decisions. Many discounts are offered by all insurance companies, but some discounts are unique to that insurer, and the only way that you can find out about them is to ask. First, take a look at what your initial quote is, then look around for discounts that you might be eligible to receive.
Park your car in the garage - From making sure that your vehicle is secure to protection from the elements, parking your car in a garage will give you a noticeable discount on your premium payments. In general, it is never a wise decision to park your car out in the open, so try to park your vehicle in a place that is protected from the elements. Your car insurance will cover dented roofs and hoods from hail, broken or cracked windows or windshields, roofs crushed as a result of falling debris, paint scratched as a result of falling debris, and damage to your engine as a result of flooding. While this is of comfort, keep in mind that claims filed as a result of damage from the elements will result in your premium being raised. If you consistently park your car in your garage and in other protected areas, then you will minimize the chances of weather damage to your car. This will be viewed very favorably by your insurance agent, and better rates will be a direct result of your efforts.
Select the right car insurance company - To get the cheapest quotes, you should select the right car insurance company. For this, you should do an exhaustive research on the internet or city phone book. Shortlist the renowned car insurance companies in Indiana to get the best quotes. This is because there are a number of shoddy companies in the state who may lure you to purchase an expensive cover, cannot pay you any claims when you require. Before you should first research on the company's financial stability, claim handling process, covers available and other service details and the availability of coverage before you ask for quotes.
Compare several quotes - You should always aim to go for the best quote when you are looking to purchase car insurance coverage in Indiana. To get the best deal, it is important that you approach several car insurance companies in the state for quotes. You should get at least 4-5 quotes so that it becomes simpler to compare them. The ideal place to look for the best car insurance quotes would be the internet. You can also get manual quotes from a number of local insurers in Indiana. That you need to check is which one suits your budget and meets all the requirements.
Approach the same car insurance company - Before you are planning to buy a car in Indiana, chances are that you already have a home insurance or/and health insurance, or any other insurance policy. If you have a good experience with the insurance company, you may purchase your car insurance from the same insurer. It is obvious that you will get the best quotes and a good discount and the option is also much more secured.
Furnish all the necessary information - Indiana car insurance companies offer cheap and reliable quotes only when you provide them with your detailed personal information. When you request for quote, do not forget to include your name, postal address, age, academic qualifications, zip codes, sex, and marital status. Age is an important criterion in Indiana. The cover may be a little expensive if you ask for teen car insurance cover. However, on completion of the driver education program approved by the state, they can expect a lower quote. There are special discounts for army personnel and senior citizens. So do not forget to mention these details when you ask for quotations.
Get safety devices for your car - Not only in Indiana, but car insurance companies across the country offer cheap quotes to car owners who have cars equipped with seat belts, anti-theft devices, video cameras, anti-lock braking systems and other safety devices in their car. Insurance company's claims handling policies in case your car stolen accessories are stolen or any parts are damaged.
Drive less for a low mileage discount - Car insurers in Indiana offer a heavy discount for low mileage. Those of you who travel once in while or less than 40 miles per day can expect a cheaper quote and a good discount on the cover. Do include this on the form when you are requesting for a quote to get a cheaper car insurance cover in the state.
Find Cheap Car Insurance For High-Risk Drivers In Indiana
Although the Insurance quotes for high-risk drivers are little more expensive than a standard quote, there are ways of finding cheaper quotes in the state. All you need to know is understand the state car insuranc laws correctly and follow the essentials to get the best deal.
Look for enthusiastic insurers - As a high-risk driver seeking cheap car insurance quotes in Indiana, it is important to look for companies who are willing or are specialized in offering car insurer covers to individuals in the state. You need to call up several agencies and find out whether they are willing to offer high-risk insurance covers. Some insurers may outright decline the offer or quote a high premium if you have a poor driving record, but you will find a couple of car insurers in Indiana who may show interest in offering you car insurance cover at competitive rates.
Give preference to local insurers - In the state of Indiana, it is sensible to approach a local car insurance company for cheaper quotes if you are a high-risk driver than approaching global car insurance agencies. This is because local companies understand your basic problem and need better and offer you a quote at a competitive price. You can also contact an independent agent in the state who deals in different car insurance companies and is equipped to guide you with the cheapest quotes. You can also approach the same local insurance agency from whom you have purchased your other policies such as home insurance. Such companies offer a cheaper quote.
Find Cheap Car Insurance For Teenagers In Indiana
In the United States, car accident rates are 25-30% higher among teenagers than other age groups. The state of Indiana is no exception. In fact, the car accident rates among teenagers are considered to be even higher than the national average. As a result, car insurance companies in Indiana are extremely careful before they offer car insurance quotes to this age group. Before expecting a cheap quote from car insurers in Indiana, teenagers and their parents should be aware of the state car insurance laws, and the right ways to get cheaper car insurance in the state.
There are several ways in which teenagers can qualify for discounts on their car insurance cover.
- The choice of the car often plays a vital role in teen car insurance premium. The rates are much lower on small budget cars than fancy sports cars.
- It is important to install safety features antitheft devices, airbags, car alarms, and antilock brakes. Car insurers in Indiana offer a good discount on safe cars and teens can save a premium of up to 5-6%.
- Most car insurance companies in Indiana offer a lower premium to teenagers who have a good academic record. Teenagers driving a car in the state with B and above grades can save over 10% on car insurance.
- Car insurance companies in Indiana provide a lower premium to teenagers when they opt for car insurance along with the purchase of education insurance or health insurance, among others.