Average car insurance cost in South Bend, IN

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Based on an analysis by Insure.com, the typical car insurance expense in South Bend, Indiana is $1,473 annually. Furthermore, car insurance premiums in South Bend are $42 less than compared to the state average in Indiana and $422 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 South Bend, the average car insurance rates by age and gender, and the costs in South Bend 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 South Bend. Keep reading to learn more.

Cheap car insurance companies in South Bend

Geico provides the best value for car insurance in South Bend with coverage limits of 100/300/100, costing $969 annually.

A close second is Auto-Owners, which offers car insurance at $1,134 per year.

Read about the best car insurance companies.

Average car insurance cost in South Bend by coverage limits

The average car insurance rates in South Bend by coverage type are as follows:

• State minimum coverage: $430 per year (limits of 25/50/25)
• Liability-only coverage: $512 per year (limits of 50/100/50)
• Full coverage: $1,473 per year (limits of 100/300/100)
• Non-owners coverage: $270 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in South Bend

The average car insurance rate for a female driver in South Bend, Indiana, is $1,478 per year.

While the rate for a male driver is $1,468 per year, which is $10 less than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. 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 South Bend

Car insurance rates in South Bend, are highest for teens at $4,638 per year or $387 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $2,423 annually for their car insurance, which is $2,215 less than what teens pay for their insurance coverage.

In South Bend, adult drivers pay an average of $1,469 per year for car insurance, while senior drivers pay $1,466 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

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

Car insurance rate trends in South Bend

If we look at the car insurance rates trends in South Bend, Indiana, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 22%, or $263.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in South Bend, are lower than the average insurance cost in Indiana. Shopping around and taking advantage of available discounts, drivers in South Bend 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.