Cheapest Auto Insurance in Lafayette, Indiana (2024)

Located about an hour outside of Indianapolis, Lafayette is a small city with a relatively small population. Its location and population may contribute to its relatively affordable car insurance rates, compared to the state and national averages.

The overall average cost of car insurance in the city is $99 per month, compared to $110 per month in Indiana and $158 per month nationwide.

Here’s what you need to know about comparing quotes and buying car insurance in Lafayette, Indiana.

3 of the cheapest car insurance companies in Lafayette

The cost of car insurance can vary among companies because each insurer calculates rates differently. One company may place more importance on driving history, while another may weigh credit score information more heavily, for example.

The following insurers are the best car insurance companies in Lafayette, Indiana, based on Insurify Quality (IQ) Score, average rates, available coverage, and third-party ratings.

Best company for customer service: State Farm

Best company for drivers with a DUI: Auto-Owners

Best company for teen drivers: GEICO

How to get the cheapest car insurance in Lafayette

Car insurance premiums aren’t based on one factor alone. Your driving history, ZIP code, age, gender, and the type of car you drive can all affect what you pay.^[4]

But you can save on car insurance in Lafayette in a few ways:

• Get quotes from multiple companies using the same coverage types and limits.

• Look for discounts that automatically lower your premiums.

• Consider raising your deductible, as long as you have the money to pay for it if you file a claim.

• Maintain a clean driving record and strong credit.

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Cheapest liability-only car insurance in Lafayette: Auto-Owners

Liability insurance covers medical bills and lost wages for people in another vehicle if you’re responsible for a car accident. It also pays for property damage to other parties’ vehicles, but it won’t cover damages to your car.

In Lafayette, drivers pay an average of $68 per month for liability-only car insurance. Here’s a breakdown of what car insurance companies charge for this auto insurance policy in Lafayette.

Cheapest full-coverage car insurance in Lafayette: Auto-Owners

Compared to liability insurance, a full-coverage auto policy offers more protection. In addition to liability insurance, it includes comprehensive and collision insurance, which covers you for damage to your own vehicle in certain cases.

The average cost of full-coverage car insurance in Lafayette is $130 per month. But depending on what company you buy insurance from, you may pay different rates.

Car insurance requirements in Indiana

All drivers in Indiana must carry car insurance and show proof of it when:

• Law enforcement asks for it

• Renewing a vehicle registration

• Involved in a car accident

Furthermore, insurers must offer the following coverages, but you can reject these in writing if you don’t want to add them to your policy:

• Uninsured motorist bodily injury: This coverage pays medical expenses for you and your passengers if an uninsured motorist causes an accident with your vehicle. The minimum limits are $25,000 per person or $50,000 per accident.

• Uninsured motorist property damage: This compensates you for damage to your car or other property caused by an uninsured driver. Insurers must offer coverage of at least $25,000.

• Underinsured motorist bodily injury: If an insured driver causes an accident and their policy doesn’t pay enough to cover the resulting medical expenses, this coverage can make up the difference. The coverage limit must be at least $50,000.

The state of Indiana mandates the following minimum liability insurance requirements for private passenger vehicles:^[5]

These are just minimum requirements. You might add the following coverages for more protection:

• 

  Collision coverage

  Collision coverage pays for your car repairs or replacement if you hit a stationary object or another vehicle, regardless of fault.

• 

  Comprehensive coverage

  Comprehensive coverage pays for vehicle repairs or replacement after non-collision incidents. These can include theft, vandalism, falling objects, severe weather, and more.

• 

  Gap coverage

  If you finance or lease your vehicle, gap insurance can pay the difference between the remaining balance on your agreement and your insurance settlement if your car is a total loss.

• 

  Rental reimbursement coverage

  Rental reimbursement coverage helps pay for the cost of using a rental car or alternative transportation if your car is in the shop during a covered claim.

Cheapest car insurance for drivers with an incident

Driving habits are an important factor for insurance companies when determining auto rates. Insurers look at your driving record to assess risk and set premiums. A motorist with a clean driving record is less likely to get into an accident and submit a claim, so they generally pay lower rates.^[4]

But you pose more risk to the insurance company when you cause an accident, get a speeding ticket, or drive under the influence. If you have too many accidents or a DUI on your record, you may also need to file an SR-22 insurance form in Indiana. In Lafayette, car insurance rates tend to rise after one of these incidents.

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Cheapest car insurance for drivers with a speeding ticket: Auto-Owners

A driver in Lafayette typically pays higher rates after getting a speeding ticket — an average of $97 per month for liability insurance and $186 per month for full coverage. But some insurance companies charge less, which is why it’s important to shop around.

Here’s what insurance companies in Lafayette charge on average after a driver receives a speeding ticket.

Cheapest car insurance for drivers with an at-fault accident: Auto-Owners

Car insurance rates also increase when a policyholder causes an accident.^[6] Drivers in Lafayette pay an average of $98 per month for liability insurance and $187 per month for full coverage after an at-fault accident.

Here’s what insurance companies in Lafayette charge on average when someone has an at-fault accident on their driving record.

Cheapest car insurance for drivers with a DUI: Auto-Owners

In Lafayette, a DUI or DWI offense can cause car insurance rates to increase to an average of $111 per month for liability insurance and $213 per month for full coverage.

Here are the cheapest insurers for Lafayette drivers who have a DUI/DWI on their records.

Cheapest car insurance for seniors: Auto-Owners

Age is another important factor to car insurance companies. Auto rates start high for teen drivers, gradually decline around age 26, and follow a downward trend over several decades. Older drivers tend to save on car insurance because they generally practice safe driving habits. 

Rates start climbing again around age 70 because older adults have a higher per-mile crash rate compared to middle-aged drivers. Older adults are also more physically vulnerable to injuries from a crash.^[7]

Senior drivers in Lafayette pay an average of $50 per month for liability insurance and $96 per month for full coverage. Here are the average car insurance rates for senior drivers in Lafayette.

Cheapest car insurance for teens: Auto-Owners

Auto coverage is often much more expensive for young drivers, who have less experience behind the wheel and are more likely to engage in risky driving behavior. Insurance companies make up for this risk by charging higher rates for drivers ages 16 to 25.^[8]

While teen drivers pay more, you may be able to lower your rate to get cheaper auto insurance. Compare quotes, get a safe car, and take advantage of discounts specifically geared toward young drivers. Staying on your parents’ policy can also help you save.

Teen drivers in Lafayette pay $120 per month for liability insurance and $229 per month for full coverage. Here’s what teens might pay for car insurance in Lafayette across several auto insurance companies:

Lafayette car insurance quotes by credit tier

In Indiana, state law permits insurance companies to consider your credit history when setting premiums.^[9] Research shows that people with lower credit scores tend to submit more claims. So drivers with poor credit in the U.S. can pay as much as $2,000 more per year compared to drivers with excellent or good credit.

Here’s what the average person pays for car insurance in Lafayette based on credit tier:

Is car insurance more expensive in Lafayette?

Auto insurance in Lafayette is comparable to and not much cheaper or more expensive than other Indiana cities like Indianapolis, South Bend, and Fort Wayne. The overall average car insurance premium in Lafayette is $99 per month, which is similar the overall state average of $110 per month.

More cities in Indiana

Here’s how auto insurance rates in Lafayette compare to rates in other Indiana cities.

Lafayette car insurance FAQs