For drivers in Fort Wayne, one of the largest criteria that are looked at to determine insurance cost is where you live. Regions with larger populations or more claims likely pay more, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.
The illustration below sorts the most expensive places in Indiana to buy car insurance in. Fort Wayne shows up at #18 with the annual price of $956 for the average policyholder, which is approximately $80 each month.
|Rank||City||Average Per Year|
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Rate quotes are comparative as the specific garaging location can increase or decrease premium rates considerably.
Having seen where Fort Wayne ranks on price, figuring out which companies offer the cheapest auto insurance rates in Fort Wayne calls for a little more work in order to find coverage that fits your budget.
Each auto insurance company has their own unique process for determining prices, so to begin we’ll rank the most competitive auto insurance companies in Indiana. It’s important to know that Indiana auto insurance rates are influenced by many factors that may substantially change your annual premium. Improving your credit score, moving to a different location, or getting caught speeding can cause premium changes resulting in some companies being more affordable than the competition.
Best Insurance Companies in Fort Wayne
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$841|
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Travelers quotes some of the most affordable car insurance rates in Fort Wayne at around $602 a year. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual would also make the list of some of the cheapest Fort Wayne, IN auto insurance companies.
In the above example, if you are currently insured with USAA and switched to Travelers, you might see annual savings of approximately $79. Insureds with Erie could save as much as $103 a year, and Indiana Farmers Mutual customers might reduce prices by as much as $239 a year.
These prices are averages across all insureds and vehicles and are not factoring in an exact vehicle garaging location in Fort Wayne. So the company that fits you best may not even be in the top 36 companies shown above. That point stresses why you need to get car insurance quotes using your own specific driver and vehicle information.
The make and model of vehicle you are buying coverage for is one of the primary factors that determines whether or not you find the best cheap auto insurance in Fort Wayne. Vehicles with high performance features, poor safety features, or a high likelihood of having liability claims will cost substantially more to insure than more economical and safe models.
The data below presents car insurance premiums for a handful of the more affordable automobiles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$730|
|Ford Escape XLS 2WD||$796|
|Honda Accord LX-P 4-Dr Sedan||$813|
|Toyota Tacoma 2WD||$844|
|Toyota RAV4 Limited 4WD||$861|
|Chevrolet Malibu Hybrid||$868|
|Ford F-150 FX2 2WD||$878|
|Honda Civic EX 4-Dr Sedan||$890|
|Hyundai Elantra Blue 4-Dr Sedan||$899|
|Jeep Wrangler Rubicon 4WD 2-Dr||$909|
|Ford Explorer XLT AWD||$914|
|Ford Focus S 4-Dr Sedan||$920|
|Nissan Altima 3.5 SR 4-Dr Sedan||$924|
|GMC Sierra SLE Crew Cab 4WD||$929|
|Chevrolet Impala LT||$940|
|Honda Odyssey EX W/Rear Entertainment||$945|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$942|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$959|
|Chevrolet Equinox LT AWD||$963|
|Jeep Grand Cherokee Laredo 4WD||$969|
|Chevrolet Silverado LT Crew Cab 2WD||$986|
|Dodge Grand Caravan SXT||$994|
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Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can impact rates significantly.
By looking at the data, we can assume that cars like the Honda CR-V, Ford Escape, Toyota Prius, Honda Accord, and Toyota Tacoma should be some of the most budget-friendly vehicles to insure for drivers in Fort Wayne.
Does full coverage make sense?
Saving money on car insurance is important to the majority of people, and one of the best ways to save on the cost of insurance in Fort Wayne is to only buy liability insurance. The information below shows the difference between premium costs with and without full coverage. The data assumes a clean driving record, no claims, $1,000 deductibles, drivers are single, and no other discounts are factored in.
Averaged for all ages 20 through 70, comp and collision coverage costs $1,184 per year more than buying just liability insurance. That is a significant amount which raises the question when is it a good idea to stop buying full coverage. There is no clear-cut formula for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s book value is $6,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $5,500 after paying your policy deductible. If you are currently paying more than $550 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some situations where only buying liability is not recommended. If you haven’t paid off your loan, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
The information below shows how choosing a deductible can affect insurance premiums when researching cheap insurance in Fort Wayne. The data is based on a single female driver, full physical damage coverage, and no discounts are factored in.
A 40-year-old driver could lower their car insurance rates by $222 a year by increasing from a $100 deductible up to a $500 deductible, or save $334 by using a $1,000 deductible. Even younger insureds, like the Age 20 category, could possibly save $566 or more by choosing larger deductibles on their policy.
If you do decide to increase your deductibles, it will now be necessary to have enough in a savings account to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Types of discounts on Fort Wayne car insurance rates
Insurance companies that offer cheap quotes in Fort Wayne could also offer rate discounts that could lower prices by as much as 40% or more if you are eligible for them. Larger car insurance companies and the discounts they provide are:
- State Farm includes discounts for driver’s education, good student, good driver, multiple policy, accident-free, and anti-theft.
- GEICO has savings for air bags, anti-lock brakes, multi-policy, membership and employees, defensive driver, and multi-vehicle.
- SAFECO offers discounts for bundle discounts, homeowner, safe driver, accident prevention training, multi-car, and anti-theft.
- Farmers Insurance offers premium reductions for good student, youthful driver, early shopping, multi-car, teen driver, and electronic funds transfer.
- AAA offers discounts including anti-theft, good driver, AAA membership discount, good student, multi-car, education and occupation, and pay-in-full.
- USAA may offer discounts for driver training, loyalty savings, multi-policy, defensive driver, family discount, good student, and safe driver.
The chart below compares auto insurance costs with and without discounts applied to the policy premium. The data is based on a female driver, no violations or claims, Indiana state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with passive restraint, accident-free, vehicle safety, safe-driver, multiple vehicle, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance in Fort Wayne is 28% or $312.
The agents shown below can probably answer your questions and help you decide which car insurance company is the best fit, as some people have coverage questions and would like to get help from a professional when shopping for the best coverage for drivers in Fort Wayne. It can be challenging to do it yourself, so getting advice from a licensed agent can give comfort knowing your policy gives you decent coverage if you have a claim.
To locate a Fort Wayne auto insurance agent nearest to you, click the button following the list.
Allstate Insurance: Merle K. Maples
3017 E State Blvd – Fort Wayne, IN 46805 – (260) 483-6583
Mathews Insurance Agency, Inc.
807 Lincoln Hwy W – New Haven, IN 46774 – (260) 749-9696
Hupe Insurance Services
7011 Stellhorn Rd – Fort Wayne, IN 46815 – (800) 701-5909
Tom Steckler Agency Inc
10432 Coldwater Rd – Fort Wayne, IN 46845 – (260) 338-0338