Lafayette, IN Car Insurance

From fender benders on Sagamore Parkway to major collisions on busy Interstate 65, car accidents can happen to anyone who lives and drives in Lafayette. Even the most careful drivers are at risk. But with a reliable car insurance policy, you can have peace of mind. Car insurance protects you from the costs of auto accidents that you cause. And certain policy options can also protect you if your car is damaged by falling objects, theft, or vandalism. Car insurance can sometimes be confusing, but a local independent insurance agent can help you find the best policy for your needs and budget. 

Indiana Car Insurance Requirements

If you own a vehicle in Indiana, you are required to purchase auto insurance. You must have the following coverage—at a minimum—in order to comply with the law: 

• Bodily injury liability: Required
• Property damage liability: Required
• Personal injury protection (PIP): Not required
• Uninsured motorist coverage: Not required
• Minimum liability limits: 25/50/25; coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual; and $25,000 coverage for property damage

While this may seem like great coverage, a minimum-coverage policy may leave you seriously underinsured. If you cause a major collision, you will have to pay out-of-pocket for all of the expenses that exceed your coverage limits. These expenses can include medical bills for other drivers and passengers, vehicle repair costs, and even attorney fees and settlements or judgments levied against you if you are sued for negligence. 

Many Lafayette drivers purchase liability coverage limits that are higher than the state requirement. If you want even more liability protection, you can purchase umbrella insurance, which offers protection beyond the limits of your auto insurance policy. An independent insurance agent can help determine how much liability coverage is necessary to adequately protect you and your family. 

How Much Does Car Insurance Cost in Lafayette, IN?

Indiana is the 41st most expensive state for car insurance, and rates in Lafayette are even lower than the state average. 

• National average annual car insurance cost: $1,311
• Indiana average annual car insurance cost: $1,033
• Lafayette average annual car insurance cost: $892

Every insurance company charges somewhat different rates, and you definitely won’t pay the same as your neighbor. Insurance companies base their prices on your individual risk factors. They assess your personal characteristics (age, gender, driving record), as well as the risks involved with your car and where you live. 

Ultimately, insurance companies want to know how likely you are to get into an accident or file a claim. The more risk factors you have, the more you will pay for car insurance. If you are a young driver with a history of car accidents, chances are you will pay more than your middle-aged neighbor with a clean driving record.

If you have a long daily commute and live in an area with a high rate of auto theft, you will probably pay more for car insurance than someone who drives a short distance to work and lives in a very safe city. Fortunately, many insurance companies offer numerous discounts to help make your policy more affordable. Your local independent insurance agent can tell you how to maximize the discounts that you are eligible for. 

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Number of Uninsured Motorists in Indiana

Driving without insurance is against the law in Indiana, yet many drivers continue to drive without coverage. 

• How many US drivers are uninsured? 12.6%
• How many Indiana drivers are uninsured? 16.7%

Drivers who fail to purchase auto insurance put everyone in danger. If they cause a crash, uninsured drivers usually can’t pay for vehicle damage and medical bills for the other drivers. That’s why it’s so important for Lafayette drivers to purchase uninsured motorist coverage. It pays to fix your vehicle and pays your medical bills when you cannot collect from an uninsured driver. Some states require all drivers to purchase uninsured motorist coverage. Indiana does not require you to have this coverage. 

Number of Auto Thefts in Indiana

The auto theft rate across the state of Indiana is lower than the national average. In Lafayette, however, the rate is higher than both the state and national averages. 

• National auto theft rate per 1,000 vehicles: 2.94
• Indiana auto theft rate per 1,000 vehicles: 2.22
• Lafayette auto theft rate per 1,000 vehicles: 3.53

The comprehensive coverage portion of your car insurance policy can protect you from the financial consequences of vehicle theft and break-ins. A break-in alone can be costly, leaving you with broken windows to fix and personal property to replace. If your car is stolen, you’ll need help replacing your car and everything in it. If you purchase comprehensive coverage, your Lafayette car insurance can reimburse you quickly and minimize your worry. And don’t forget to take precautions to protect your car from thieves:

• Park in safe, well-lit places
• Don’t leave your keys in your car
• Don’t leave valuables in your car
• Always lock your car, even at home

Talk to a local independent agent about comprehensive coverage, and how it can help you in a variety of unfortunate situations. 

Why Contact an Independent Insurance Agent?

Independent insurance agents are insurance professionals who can explain your coverage options, answer your questions, and provide you with customized car insurance quotes from multiple insurance companies. With the help of an independent agent, you can make an informed choice. 

Start your search by contacting an independent agent in Lafayette.