The words “economical” and “auto insurance” really don’t belong together, in particular when looking for the best price on coverage for drivers with a bad driving record. Because it’s not cheap, let’s take a look at some of the things that have an impact on insurance premiums, and find some ways to cut the cost of the next policy you buy.
For bad drivers, one of the big considerations that are looked at to determine the amount you pay for auto insurance is where you normally keep your vehicle. Areas with a lot of weather claims or more people tend to pay more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The table below rates the most expensive cities in Indiana for drivers with a bad driving record to buy an auto insurance policy in. Fort Wayne is ranked #14 with an annual cost of $985 for the average insured, which is around $82 per month.
|Rank||City||Premium Per Year|
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Annual rates are approximated as the specific Fort Wayne residence address can change price quotes significantly.
Deciding which companies offer the most affordable car insurance rates for drivers with a bad driving record takes more time than just getting one or two price quotes. Each auto insurer uses their own method to determine rates, so we will examine the car insurance companies with the most affordable rates in Indiana.
Find the Cheapest Car Insurance for Imperfect Drivers
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$841|
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Travelers may offer some of the cheapest car insurance rates in Fort Wayne at around $602 each year. This is $638 less than the average policy premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual also rank well as some of the best Fort Wayne, IN auto insurance companies.
As the rates illustrate above, if you are insured with Indiana Farmers Mutual and switched to Cincinnati Insurance, you may realize an annual premium reduction of about $157. Policyholders with Western Reserve could save as much as $180 a year, and The Hartford customers might realize rate reductions of up to $205 a year.
Remember that these premiums are averaged across all insureds and vehicles and and are not figured with an exact zip code location for drivers with a bad driving record. So the insurer that can offer the best rates for your situation may not even be in the top 36 companies in the list above. That is why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.
The vehicle driven is a large consideration when shopping around for affordable car insurance for drivers with a bad driving record. Vehicles with lower acceleration and performance, a plethora of safety features, or a track record of few liability claims will cost less to insure than high performance models. The next list showcases insurance costs for a selection of the cheapest automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$3,345|
|Honda CR-V EX-L 4WD||$3,430|
|Volkswagen Jetta S 2.5 Station Wagon||$3,522|
|Honda Odyssey LX||$3,539|
|Hyundai Elantra SE Touring Station Wagon||$3,616|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$3,701|
|Ford Focus SE 4-Dr Sedan||$3,707|
|Toyota Tacoma 4WD||$3,739|
|Ford F-350 XL Super Cab 2WD||$3,816|
|Ford Explorer XLT AWD||$3,828|
|Honda Civic LX-S 4-Dr Sedan||$3,875|
|Chevrolet Impala LTZ||$3,911|
|Toyota Corolla XLE||$3,921|
|Toyota Camry XLE||$3,911|
|GMC Sierra SLT Extended Cab 2WD||$3,948|
|Dodge Grand Caravan Crew||$3,954|
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Above prices assume single female driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, and homeowner. Information does not factor in zip code location which can impact coverage rates greatly.
Looking at the data, makes and models like the Ford Escape, Honda CR-V, and Volkswagen Jetta should be a few of the cheaper vehicles to insure for bad drivers. The cost of a car insurance policy will be higher anyway just due to the fact that there is a higher risk for drivers with a bad driving record, but in general those vehicles will probably have the cheapest auto insurance rates compared to all other vehicles.
Full coverage rates compared to liability-only
Finding cheaper car insurance is probably important to the majority of people, and an easy way to reduce the cost of insurance for drivers with a bad driving record is to buy only liability coverage. The diagram below illustrates the comparison of annual premium costs with full coverage and liability only. The premium estimates are based on no driving violations, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are applied.
If we average all the age groups together, physical damage insurance costs an extra $1,281 per year more than just buying liability only. That touches on the question if paying for full coverage is worth it. There is no set guideline of when to eliminate physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your vehicle’s book value is $11,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $10,500 after the policy deductible has been paid. If you are paying over $1,050 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
Drive safe and save
In a perfect world, the ideal way to score the best car insurance rates in Indiana for bad drivers is to pay attention while driving and avoid tickets and accidents. The diagram below demonstrates how traffic citations and at-fault claims increase yearly insurance costs for different age groups. The rate quotes are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
In the example above, the average cost of auto insurance in Fort Wayne per year with a clean driving record and no accidents is $1,328. Get two speeding tickets and the average cost jumps to $1,752, an increase of $424 each year. Now add two accidents along with the two speeding tickets and the yearly cost of car insurance for drivers with a bad driving record increases to an average of $3,409. That’s an increase of $2,081, or $173 per month, just for not driving safely!
If you have coverage questions and would like to get some professional advice when shopping for the best coverage for bad drivers, the agents below are willing to help you decide which coverage meets your needs best. To locate a Fort Wayne insurance agent in your neighborhood, click the button at the bottom of the list or click here to compare price quotes.
Allstate Insurance: Paul Michaylo
2416 Getz Rd – Fort Wayne, IN 46804 – (260) 459-1700
Allstate Insurance: Merle K. Maples
3017 E State Blvd – Fort Wayne, IN 46805 – (260) 483-6583
Hoch Insurance Inc
209 E Washington Center Rd – Fort Wayne, IN 46825 – (260) 471-7555
How to find cheaper auto insurance for drivers with a bad driving record
The list below summarizes some money-saving ideas that can help drivers find cheap coverage.
- Higher credit scores can equal lower rates
- Higher deductibles save money
- At-fault accidents can raise rates significantly
- Safe vehicles cost less to insure
- Just one traffic violation will increase your rates
- Comparison shop at least every other year
The last tip in the list is remarkably critical, as was stressed in the prior information. Auto insurance rates fluctuate constantly, so don’t be afraid to buy a different policy if you find a cheaper price.
Staying with the same company for years is fine, but it’s not a great idea if that devotion results in you overpaying potentially thousands of dollars a year. In less than five minutes you could shop around and find cheaper insurance for drivers with a bad driving record in Fort Wayne.