Average car insurance cost in Fishers, IN

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Based on an analysis by Insure.com, the typical car insurance expense in Fishers, Indiana is $1,441 annually. Furthermore, car insurance premiums in Fishers are $74 less than compared to the state average in Indiana and $454 less than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Fishers, the average car insurance rates by age and gender, and the costs in Fishers based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Fishers. Keep reading to learn more.

Cheap car insurance companies in Fishers

At an average of $900 per year with full coverage limits of 100/300/100, Geico provides the most affordable car insurance in Fishers.

Ranked as the second most affordable company in Fishers, Auto-Owners provides car insurance at $1,114 per year.

As previously noted, car insurance rates differ among companies due to variations in the factors used for calculating the rates. So, it is best to compare quotes from several insurers to secure affordable car insurance rates in Fishers that align with your needs before selecting a policy.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Fishers, Indiana:

Read about the best car insurance companies.

Average car insurance cost in Fishers by coverage limits

In Fishers, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $455 per year (limits are 25/50/25)
• Liability only coverage: $534 per year (limits are 50/100/50)
• Full coverage: $1,441 per year (limits are 100/300/100)
• Non-owners coverage: $284 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Fishers

In Fishers, Indiana, the average annual car insurance premium for female drivers is $1,447 per year.

While the average annual cost for male drivers is $1,435 per year, which is $12 less than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Fishers

In Fishers, car insurance rates are highest for teens, averaging $4,580 per year or $382 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $2,382 annually for their car insurance, which is $2,198 less than what teens pay for their coverage.

In Fishers, adult drivers pay an average of $1,437 per year for car insurance, while senior drivers pay $1,446 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Fishers

Examining the trends in car insurance rates in Fishers, Indiana, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 23% or $271.

The table below illustrates the trend over the three years:

Conclusion

In conclusion, the insurance rates in Fishers, are lower than the average insurance cost in Indiana. Shopping around and taking advantage of available discounts, drivers in Fishers can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.