Fort Wayne, Indiana, is a town of approximately 250,000 people in northeastern Indiana. Fort Wayne enjoys the distinction of being the second-largest city in the state, just after Indianapolis. Insurance rates for those in the Fort Wayne area average $1,347 per year. This is slightly higher than the rate for Indianapolis, which is $1,331 per year, and twenty-six percent higher than the average for the state as a whole.
There are several reasons for the increase in insurance rates in and around Fort Wayne. Insurance rates are based in part on claims activity in a certain area, and Fort Wayne has more claims than some surrounding cities. In 2008, Fort Wayne has more fatal car accidents than Indianapolis. This high level of claims activity works to keep Fort Wayne insurance prices high.
However, personal factors have far more impact on what you pay for car insurance than averages. After all, averages are made up of many people’s insurance prices, with some being very high and some being very low. Whether your rates are on the higher or lower end of this scale greatly depends upon your age, gender, marital status, and the type of car you drive.
What will affect your insurance rates even more is your credit rating. Indiana does allow insurance companies to consider your credit score when they calculate your premium, and many companies do. A low credit score can more than double the average insurance rate for most drivers. Your insurance rates go up as your credit score drops; a very low score will cause higher prices than a slightly low score.
One other factor which is crucial in determining your insurance rates is your driving record. A few speeding tickets years apart will probably not affect your insurance rates much. However, if you have several speeding tickets in a short period of time, you can expect higher insurance premiums. Some companies will not insure you at all if you have a very serious traffic violation, such as a DUI or a reckless driving conviction. In these cases, in order to insure your vehicle, you will have to shop with the few companies that provide coverage to those who have these types of infractions, and your rates are sure to be quite high.
Besides nationally-recognized companies such as State Farm, Allstate, GEICO, Nationwide, and Progressive, Fort Wayne has dozens of independent agents who represent companies that range in size from small to large. These companies all provide insurance products ranging from the minimum liability coverage required by the state to full coverage policies. Indiana requires a minimum of $25,000 per person and $50,000 per accident in bodily injury liability and $10,000 in property damage liability. However, many drivers choose to insure themselves against uninsured or underinsured motorists with additional coverage. Many drivers also choose to protect themselves against repair bills for at-fault accidents or non-accident claims by taking out collision and comprehensive coverage.
No matter what your insurance needs, you can find reasonable rates in Fort Wayne by comparing quotes from several companies through an online quote website.