Indiana Auto Insurance

Indiana is a Torte state and there are no limits on lawsuits.  This means that the individual who is at fault in an accident may be sued by those injured in the accident, or families of those killed in the accident, for pain, suffering, and lost wages.  That individual will also be held responsible for all medical expenses connected to the accident.  For this reason, insurance companies in Indiana recommend that their policy holders carry more than the minimum liability insurance required by the state.

A new law in the state of Indiana requires all insurance companies to issue uninsured and underinsured motorist insurance to all their policy holders.  Uninsured and underinsured coverage provides protections against drivers who do not carry the mandatory liability auto insurance demanded by the state.  Underinsured and uninsured coverage is mandatory in the state of Indiana but policy holders may refuse the coverage. If you decide to forego this coverage, the insurance company is required to provide a signed declaration page stating that you chose not to take the underinsured and uninsured coverage.

Your insurance company may exclude members of your household from coverage on your insurance policy.  If the individual is not listed on your policy, the insurance company does not have to provide coverage for that person.  The exclusion must be listed in the policy.  Be sure to read the policy carefully before you sign it. 

If your policy lapses or cancels, you must pay the premium to reinstate the policy.  If the policy is cancelled, then you must find a new auto insurance policy right away.  Insurance companies have guidelines they must follow to cancel or refuse to renew a policy.  With in the first 60 days of a brand new policy, the insurance company has the right to cancel your coverage.  After that period of time, they cannot cancel your policy unless you fail to pay your premiums or loose your driver’s license.  If the company is going to refuse to renew your policy, they must by law give you 20 days notice.  Indiana insurance agents can file your insurance coverage with the state via the computer.  However, if an error occurs, you will not be notified via the internet.  You will receive a notice sent on the day the error occurred via US mail.  Any errors in insurance should be received with in three business days.

Indiana insurance companies can use your credit history to accept applicants and set insurance rates.  They may also use your credit score to determine your risk factors.  Other factors considered when determining rates are age, sex, car use, prior claims, deductibles, driving record, driver’s training, marriage status, where you live, policy limits and the type of car you drive.  If you own a sports car or luxury car, the insurance will be higher on these vehicles.  You may also want to take into consideration the cars that are the main targets of thieves.  Below is a list of the top ten vehicles which are the victims of car theft in Indiana.

1. 1993 Oldsmobile Cutlass
2. 1997 Chevrolet Cavalier
3. 1997 Ford Taurus
4. 1995 Pontiac Grand Am
5. 1990 Buick LeSabre
6. 1989 Oldsmobile Delta 88
7. 1988 Chevrolet C/K 1500 Pickup (full size)
8. 1997 Ford F150
9. 1991 Chevrolet Caprice
10. 1991 Chevrolet Blazer

The average insurance premium for 2006 in Indiana is approximately $631.00 and the state is ranked as the 43rd most expensive for insurance premiums in the nation.  The following list includes 11 companies you may contact for auto insurance quotes.  They are Progressive Direct Insurance Company, American Family Insurance Company, Liberty Mutual Insurance Company, All State Insurance Company, GEICO Auto Insurance Company, Indiana Auto Insurance Company, Nationwide Auto Insurance Company, Auto Owners Insurance Company, Travelers Auto Insurance Company, State Farm Insurance Company, and Safeco Insurance Company.

One of the methods you can use to reduce the cost of your auto insurance premiums is to purchase more than one type of insurance policy with the same company.  You will also get discounts for a clean driving record and possibly for renewing you policy with the same company repeatedly.  Making sure you insurance never lapses will sometimes reduce your premiums as well as belonging to a particular professional group such as engineers, teachers, or doctors.  Younger drivers can get discounts for maintaining good grades, and completing a driver safety course approved by the state.  Insuring multiple vehicles will also reduce your premiums.  Anti theft devices and safety mechanisms such as airbags and seat belts will contribute to the reduction of your auto insurance premiums.