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Terre Haute, Indiana Car Insurance

The recession has hit industrial centers like Terra Haute hard throughout much of the country. Terra Haute has seen a rise in the crime rate that has mirrored the rise in the unemployment rate over the last few years. The combination of high crime and low employment could lead directly to higher car insurance rates for all of the residents of Terra Haute. It might seem the opposite of the way it should be, but the fact that fewer people can afford car insurance is actually making car insurance cost more.

Crime Rate Consistently Above National Average

Terra Haute has traditionally had a problem with crime. Over the last ten years, the Terra Haute crime rate has been consistently higher than the United States average crime rate. The city has fought back by hiring more police officers, but the crime rate continues to rise. It is possible that the tough economic times are driving more individuals toward crime in recent years. Auto theft has one of the highest rates in the city, with 584 cars being stolen for every 1,000 residents. Theft of personal belongings is even higher, at 4,531 incidents per 1,000 people.

Unemployment a Big Problem

In March of 2011, Terra Haute reported a 9.9% unemployment rate. That rate is actually lower than the rates reported over the last five years, so things are improving. The state of Indiana reported an overall unemployment rate of 8.8% in March of 2011, so Terra Haute is not too much higher than the state average. One of the main reasons for such a high unemployment rate is because Terra Haute relies on manufacturing as its largest industry. Inflation and recession causes consumers to stop buying goods, which means that there is a lower demand for manufactured goods.

How These Statistics Impact Car Insurance Rates

Crime and unemployment can have a direct impact on how much you pay for car insurance. The unemployed are usually at a higher risk of driving cars that are older and not well maintained. It is also harder for unemployed individuals to buy car insurance in the first place, which could lead to a large number of people driving without insurance. Crime rates indicate a higher risk of drivers filing theft or vandalism claims, which are expensive for the insurance company to cover. Insurance companies rely on these statistics to evaluate the risk of a resident filing a claim. The higher the risk, the more expensive the coverage becomes.

Keeping Your Rates as Low as Possible

Even in a city where the average rates are higher, you can do some things to help keep your insurance costs as low as possible. Talk to your insurance agent about any discounts for which you may qualify. Drive defensively to keep your driving record clean and accident free. Make sure the coverage fits your true needs so you don't spend more than you should. Compare rates from several different insurance companies through a quick online search. Type your zip code into the form on this page for an opportunity to see quotes from multiple insurance companies.

Terre Haute sits on the western border of Indiana with Illinois and with just under 60,000 is the tenth most populous city in Indiana, though it anchors a metropolitan area of 170,000 people. Terre Haute, like other Indiana cities was once a manufacturing center, but began its decline back in the 1930s as opposed to waiting until the 1980s and 1990s like most of the midwest. Sometimes labeled a Model of Stagnation, the city has been working very hard to revitalize itself, though many of its efforts have not gone as well as hoped. The city is perhaps best known for being home to the Terre Haute Federal Correctional Complex which is where the federal government's death row is located.

In 2008 the city was the site of 2,175 reported automobile accidents in which five people died and another 737 suffered various injuries. Out of these accidents, 110 were related to alcohol consumption and sixty-eight were speed related. All said, these are proportionally good statistics. The worst intersection in the city is at Hulman Street and US Highway 41, which saw twelve accidents in 2008. With 92 percent of drivers wearing their safety belts, Terre Haute has one of better record among the major cities of Indiana.

There are no factors tied directly to Terre Haute that should result in increased insurance premiums based solely on the location. The over all statistical extract seems to show that Terre Haute is a reasonably safe place to drive, so having an address in the city should not be held against drivers seeking insurance. Since Indiana already has one of the nation's lowest average prices for insurance, assuming the applicant has a good driving record and is not driving an overly expensive vehicle, he should be able to get an excellent rate for car insurance.

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