One of the more important components that are looked at to help calculate the amount you pay each year for auto insurance is where your car is garaged in Madison. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas areas with less crime or weather claims benefit from lower coverage costs.
The illustration below sorts the most expensive cities in Wisconsin for seniors in which to purchase auto insurance. Madison is listed at #11 with an annual cost of $1,062 for car insurance, which is approximately $89 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Milwaukee | $1,410 |
| 2 | Wauwatosa | $1,319 |
| 3 | Kenosha | $1,218 |
| 4 | West Allis | $1,210 |
| 5 | Racine | $1,193 |
| 6 | Greenfield | $1,192 |
| 7 | Oak Creek | $1,190 |
| 8 | Franklin | $1,163 |
| 9 | Beloit | $1,118 |
| 10 | La Crosse | $1,064 |
| 11 | Madison | $1,062 |
| 12 | Eau Claire | $1,049 |
| 13 | New Berlin | $1,049 |
| 14 | Wausau | $1,047 |
| 15 | Brookfield | $1,045 |
| 16 | Waukesha | $1,034 |
| 17 | Menomonee Falls | $1,026 |
| 18 | Janesville | $1,011 |
| 19 | West Bend | $1,007 |
| 20 | Manitowoc | $987 |
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Table data uses estimated as specific Madison zip code can impact insurance rates considerably.
The type of vehicle to be insured is a large consideration when comparison shopping for cheap car insurance for seniors. Vehicles with higher performance characteristics, a lack of modern safety features, or high incidents of liability claims will cost quite a bit more to insure than safer, lower-performance models. The next table features car insurance premiums for the cheapest vehicles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $829 |
| Ford Escape XLT 2WD | $838 |
| Hyundai Elantra SE Touring Station Wagon | $901 |
| Toyota Prius | $921 |
| Dodge Grand Caravan SE | $925 |
| Volkswagen Jetta LE 4-Dr Sedan | $979 |
| Chevrolet Equinox LT AWD | $988 |
| Toyota Tacoma Double Cab 4WD | $979 |
| Toyota RAV4 Sport 2WD | $988 |
| Chevrolet Malibu LS | $979 |
| Chevrolet Impala LT | $985 |
| Ford F-150 Lariat Super Cab 2WD | $1,000 |
| Ford Explorer Eddie Bauer AWD | $1,007 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,000 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,011 |
| Ford Focus SES 4-Dr Sedan | $1,013 |
| Ford Edge Sport AWD | $1,031 |
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Data based on married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Information does not factor in the specific area where the vehicle is garaged which can influence premium rates substantially.
Based on these rates, we can infer that makes and models like the Honda CR-V, Ford Escape, Hyundai Elantra, Toyota Prius, and Dodge Grand Caravan are going to be the most budget-friendly vehicles to insure for senior citizens.
How to get discounts on Madison insurance rates
Insurance companies that provide policies for seniors may have policy discounts that can lower rates by 25% or more if you are eligible. A few popular companies and some of their more popular discounts are:
- Progressive offers discounts for multi-policy, multi-vehicle, online quote discount, online signing, and good student.
- SAFECO has discounts for homeowner, multi-car, anti-lock brakes, teen safety rewards, drive less, teen safe driver, and accident prevention training.
- American Family offers discounts including good driver, early bird, mySafetyValet, accident-free, multi-vehicle, bundled insurance, and TimeAway discount.
- MetLife may offer discounts for claim-free, accident-free, good driver, defensive driver, multi-policy, and good student.
- GEICO may have discounts that include seat belt use, military active duty, anti-theft, air bags, and anti-lock brakes.
- The Hartford may include discounts for bundle, defensive driver, air bag, vehicle fuel type, and good student.
The information below compares annual premium costs with and without discounts applied. The data is based on a male driver, no driving violations, no at-fault accidents, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, marriage, safe-driver, passive restraint, multiple vehicle, and defensive driving course discounts applied. When discounts are applied, the average amount saved each year on auto insurance for seniors is 30% or $291.
The example below illustrates how your deductible choice can impact insurance costs when searching for cheap insurance for seniors. The data assumes a single male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
In the chart above, a 30-year-old driver could reduce rates by $214 a year by switching from a $100 deductible to a $500 deductible, or save $322 by using a $1,000 deductible. Young drivers, like the 20-year-old example, could drop their prices $622 each year by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it is necessary to have enough savings set aside to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Impact of careless driving on auto insurance rates
One of the best ways to get affordable auto insurance rates in Wisconsin for senior citizens is to be a cautious driver and avoid tickets and accidents. The diagram below illustrates how traffic citations and at-fault accidents can affect annual premium costs for each different age category. The premium estimates are based on a married male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
The data charted above shows the average cost of car insurance in Wisconsin per year with a clean driving record and no accidents is $1,042. Factor in one speeding ticket and the average cost swells to $1,193, an increase of $151 each year. Now add in two accidents along with the one speeding ticket and the annual cost of auto insurance for seniors increases to an average of $2,513. That’s an increase of $1,471, or $123 per month, just for not being a responsible driver!
The Madison, WI, insurance agents below can help you make a decision which is the best policy, since some drivers wish to have a little guidance when shopping around for cheaper insurance for senior citizens. It’s not always simple to find the best coverage on your own, and a professional agent can give comfort knowing you have adequate asset protection. To find a Madison insurance agent in your neighborhood, click the link after the list or click here to compare prices now.
American Family Insurance – Vicki Wagener Agency LLC
1633 Thierer Rd – Madison, WI 53704 – (608) 249-2184
Johnson Insurance
525 Junction Rd #2000 – Madison, WI 53717 – (608) 203-3880
Steve Aune Agency, Inc. American Family Insurance
658 S Gammon Rd #202 – Madison, WI 53719 – (608) 274-9702
Farmers Insurance – Allen Maxwell
2980 Cahill Main #205 – Madison, WI 53711 – (608) 630-9776
Gehrke Insurance
1310 Mendota St # 108 – Madison, WI 53714 – (608) 241-4136
View map of Madison, WI insurance agents
Ideas to find low-cost car insurance for seniors
It’s not impossible to find cheaper rates, and here are many money-saving ideas that can help Wisconsin drivers quote low-cost auto insurance.
- Bundle home and auto and save
- Drive attentively and avoid accidents
- Good credit scores may lower your rates
- Do not waste money insuring older vehicles for full coverage
- Choose a safer vehicle and pay lower rates
- Shop around and save
The last tip is highly necessary, as we noted in the article above. Car insurance prices vary greatly, so don’t be afraid to change to a new company if you find a cheaper price.
We understand brand loyalty, but it’s not recommended if that inflexibility results in costing you a wad of cash every year. It only take a few minutes to shop around to find cheaper car insurance for seniors in Madison.