One of the many considerations that are used to help calculate the cost of insurance is where you keep your vehicle. Larger areas tend to pay more, whereas more rural areas receive better rates.
The information below sorts the priciest cities in Indiana for college graduates to buy car insurance in. Fort Wayne ranks #15 with an annual premium of $976 for the average policy, which is approximately $81 per month.
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Rate quotes are approximated as specific Fort Wayne garaging address can revise premiums considerably.
The make and model of vehicle needing coverage is one of the primary factors when looking for the most affordable car insurance for college graduates. Vehicles with high performance engines, poor crash test ratings, or high incidents of liability claims will cost quite a bit more to insure than safer models. The next table presents insurance premiums for some of the most economical vehicles to insure in Indiana.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$907|
|Honda CR-V LX 2WD||$912|
|Hyundai Elantra SE Touring Station Wagon||$986|
|Ford Edge SE 2WD||$997|
|Volkswagen Jetta LE 4-Dr Sedan||$1,076|
|Chevrolet Equinox LT AWD||$1,085|
|Ford Explorer Eddie Bauer 4WD||$1,096|
|Ford Escape Limited 4WD||$1,111|
|Ford F-150 FX2 Super Cab 2WD||$1,113|
|Toyota Tacoma 2WD||$1,154|
|Honda Odyssey EX W/Rear Entertainment||$1,161|
|Chevrolet Malibu LTZ||$1,154|
|Jeep Grand Cherokee Limited 2WD||$1,160|
|Dodge Grand Caravan CV||$1,156|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,164|
|Toyota RAV4 4WD||$1,177|
|Ford Focus SE 4-Dr Sedan||$1,184|
|Chevrolet Impala LT||$1,212|
|Toyota Camry Hybrid||$1,231|
|Chevrolet Silverado LT Crew Cab 2WD||$1,240|
|Kia Optima EX||$1,231|
|Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD||$1,252|
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rate quotes do not factor in specific zip code location which can change coverage rates substantially.
Looking at the numbers, you can infer that cars like the Honda Accord, Honda CR-V, and Hyundai Elantra will be the cheapest vehicles to insure for college grads.
Discounts on Fort Wayne car insurance
Insurance companies that provide coverage for college graduates may also provide discounts that may potentially lower prices by as much as 35% or more if you meet certain criteria. A list of companies and their possible discounts are:
- State Farm may offer discounts for student away at school, safe vehicle, multiple policy, anti-theft, and Drive Safe & Save.
- Farmers Insurance may include discounts for multi-car, mature driver, distant student, teen driver, good student, and bundle discounts.
- GEICO has savings for five-year accident-free, emergency military deployment, air bags, daytime running lights, and federal employee.
- American Family discounts include multi-vehicle, TimeAway discount, Steer into Savings, mySafetyValet, bundled insurance, and good driver.
- Nationwide may have discounts that include multi-policy, easy pay, defensive driving, good student, and family plan.
- Progressive has discounts for online signing, multi-vehicle, multi-policy, continuous coverage, and online quote discount.
The chart below visualizes the comparison of auto insurance costs with and without discounts. The premiums assume a male driver, a clean driving record, no claims, Indiana state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with claim-free, homeowner, marriage, accident-free, vehicle safety, and multiple policy discounts applied. When discounts are applied, the average savings per year on insurance for college graduates is 28% or $549.
Fort Wayne insurance companies
Picking the top company can be challenging considering how many different companies there are to choose from in Fort Wayne. The ranking data shown below may help you select which companies to look at when shopping your coverage around.
These ratings are for companies that insure vehicles across America, so companies that only write business in Indiana or surrounding areas are not taken into consideration for these rankings. To compare prices from these top-rated insurers and more, simply click here.
Top 10 Large Auto Insurers in Fort Wayne Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
- Erie Insurance
Top 10 Large Auto Insurers in Fort Wayne Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Don’t make the mistake of not shopping around
Fort Wayne insurance rates are impacted by many things that control the cost of having a policy. Getting older, moving to a different location, or having an at-fault accident can produce rate changes resulting in some rates now being much cheaper than others.
Not only that, but auto insurance companies change the rates they charge in Indiana without warning to help ensure profitability. Higher than normal claims may cause additional premium costs, while a profitable period may result in cheaper Fort Wayne car insurance rates.
For example, the bar chart below shows the cheapest car insurance in Fort Wayne, IN for a 45-year-old male driver with no accidents or violations, and excellent credit. When comparing rates based on his current risk profile, Travelers offers the cheapest car insurance rates in Fort Wayne at $666 annually. This is $574 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are the remainder of the top five cheapest Fort Wayne, IN auto insurance companies.
In the next rate comparison, we’ll give the driver from the first set of rates a chargeable claim, less-than-perfect credit, and a speeding ticket. Since each auto insurer has a proprietary formula to set policy rates, comparing prices may now result in a different list of the cheapest Fort Wayne car insurance companies as shown below.
The Hartford now has the lowest price in Fort Wayne with Auto-Owners, USAA, Nationwide, and Erie now being in the top five. This example illustrates why it is critical to compare many different companies to get the most affordable auto insurance rates for college graduates.
Insurance prices are influenced by many risk factors and can decrease or increase without notice, so the cheapest rate six months ago may now be wasting a lot of money.
How to find economical car insurance for college graduates
The list below summarizes some of the better thrifty solutions that can help you get cheap auto insurance.
- Get cheaper liability coverage by choosing a safer vehicle
- Assess whether full coverage is needed
- Higher deductibles save money
- Drivers with good credit often pay less
- You will pay more if you get tickets or have at-fault accidents
- Accidents can significantly increase rates
- Shop your coverage around for the best deal
That last tip is extremely important, as was discussed in the prior article. Prices charged by auto insurers in Fort Wayne fluctuate considerably, so don’t be hesitant to switch companies if you find a better deal.
Many consumers stick with the same company and that’s fine, but is isn’t recommended if that loyalty results in overpaying a wad of cash every year. In just a few minutes you could compare prices to find cheaper car insurance for college graduates.