How Much are Auto Insurance Quotes for Drivers Under 25 in Fort Wayne?

This would be a quick read if we could simply give you the name of the one auto insurance company that has the rock bottom lowest rates in Indiana. Unfortunately, it’s just not that easy, as there are a whole bunch of unknown elements like what coverage limits you want, if you own your own home, how much you actually drive in a year, and if you are currently insured, that all influence how much you pay for auto insurance. This article will detail these topics and also should give you a good start to your coverage search.

One of the many things that are used to help calculate the amount you pay for auto insurance is where you live. Cities with larger populations or higher claim trends tend to pay more, whereas areas with lower crime rates and fewer weather claims receive better rates.

The next table sorts the highest-priced places in Indiana for drivers under 25 to buy an auto insurance policy in. Fort Wayne shows up at #19 with the yearly price of $947 for car insurance, which is around $79 per month.

How much is auto insurance in Fort Wayne, IN?
Rank City Average Per Year
1 Gary $1,347
2 Hammond $1,314
3 Portage $1,104
4 Merrillville $1,095
5 Indianapolis $1,060
6 Lawrence $1,055
7 Evansville $1,055
8 Jeffersonville $1,038
9 Terre Haute $1,035
10 New Albany $1,028
11 Kokomo $1,011
12 Anderson $1,001
13 Bloomington $998
14 South Bend $985
15 Fishers $974
16 Mishawaka $965
17 Elkhart $956
18 Noblesville $948
19 Fort Wayne $947
20 Carmel $947
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Prices are comparative as the specific Fort Wayne residence address can alter prices significantly.

Finding cost effective insurance is easier said than done, and finding out which insurers offer the best car insurance rates for drivers under 25 may require a bit more work. Every insurance company has their own guidelines for determining rates in each state, so first let’s look at the rankings for the car insurance companies that tend to be cheaper in Indiana.

We do need to point out that Indiana car insurance rates are based on many factors that control the cost of coverage. Price variation is why Indiana drivers need to shop around to get cheap insurance quotes for drivers under 25. Rates can be determined by many different factors and change frequently, so the cheapest option when you last compared rates may now be priced much higher than other options.

Best Insurance Companies for Young Drivers

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Travelers quotes some of the most affordable car insurance rates in Fort Wayne at around $596 a year. Cincinnati Insurance, USAA, Erie, and The Hartford also are some of the cheapest Fort Wayne, IN auto insurance companies.

As depicted above, if you are currently insured with Erie and switched to Cincinnati Insurance, you might realize a yearly price reduction of in the vicinity of $69. Insureds with The Hartford may save as much as $199 a year, and Western Reserve policyholders might realize rate reductions of up to $208 a year.

Remember that these policy rates are averaged across all drivers and vehicles and and are not calculated with an exact zip code location for drivers under 25. So the auto insurance company that fits your age and vehicle best may not even be in the top 36 companies in the list above. That affirms the importance of why you need to compare prices as often as possible using your own driver information and specific vehicle type.

The diagram below highlights how deductible selection can impact annual premium costs when getting quotes for cheap insurance for drivers under 25. The premiums are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.

In the chart above, a 30-year-old driver could lower rates by $290 a year by increasing from a $100 deductible to a $500 deductible, or save $438 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could lower their rates up to $890 or even more by using higher deductibles when buying full coverage.

If you do raise deductibles, it is essential to have plenty of savings on hand to be able to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Full coverage versus liability-only

Saving money on car insurance should be important to most people, and a great way to reduce the cost of insurance for drivers under 25 is to not buy comprehensive and collision coverage. The diagram below illustrates the difference between insurance costs with liability coverage only compared to full coverage. The premiums are based on no claims or driving violations, $1,000 deductibles, marital status is single, and no other discounts are factored in.

If averaged for all ages, comprehensive and collision coverage on your policy costs an extra $1,184 per year over and above liability coverage. That is a big expense that brings up the question if physical damage coverage is worth the money. There is no definitive formula that works best for making the decision to drop physical damage insurance, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.

Picking the highest-rated car insurance provider can be a challenge considering how many choices you have in Fort Wayne. The information listed below could help you choose which auto insurers to look at comparing rates from.

These rankings include large insurance companies, so companies that have a smaller presence will not be included in this list. To get rate quotes from these top insurers and more, click here.

Fort Wayne, IN Car Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 99 100 90 92% A++ 97.4
21st Century 89 86 100 88% A 92.7
GEICO 97 91 88 85% A++ 92.5
Nationwide 88 94 91 88% A+ 91.3
AAA Insurance 93 87 88 87% A 90.8
Liberty Mutual 91 91 92 87% A 90.7
Safeco Insurance 90 93 88 86% A 90.2
State Farm 91 94 80 88% A++ 90.2
Travelers 89 91 94 79% A++ 90.1
American Family 88 92 83 88% A 89.4
Titan Insurance 89 91 83 86% A+ 89.3
Allstate 90 90 84 85% A+ 89.1
Progressive 83 85 99 87% A+ 88.7
Erie Insurance 92 90 82 88% A+ 88.5
The Hartford 87 89 84 87% A+ 88
Esurance 84 88 85 83% A+ 86
Farmers Insurance 79 88 84 87% A 84.7
The General 88 80 85 80% A- 84.5
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Data Source: Insure.com Best Car Insurance Companies

Ideas for finding low-cost auto insurance for drivers under 25

The list below shows some of the better penny-pinching ideas that can help you find cheap coverage.

That last idea is extremely necessary, as we noted in the prior information. Prices can be changed at any time, so don’t be unwilling to switch to a new company if a better rate can be found. Many drivers have brand loyalty and that’s fine, but it’s not a good idea if that inflexibility results in costing you money that could be used for better things. Now is a great time to compare prices to find cheaper insurance for drivers under 25 in Fort Wayne.

If you prefer to have some professional guidance when shopping for cheaper insurance for drivers age 25 and younger, the agents below can probably aid you in deciding which coverage fits your budget. To find an agent close to where you live, click the button at the bottom or click here to compare price quotes now.

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