If you’re shopping for lower-cost insurance, do you get frustrated by the number of auto insurance providers that you can choose from? You’re not alone. People have so many choices that it is a difficult situation to lower your rates. Madison is an awesome place to live, but the high premiums for auto insurance makes it very hard to make ends meet.
Steps to finding cheaper rates for car insurance in Madison
If you want to find the absolute lowest rates, then the best way to get budget car insurance prices is to start comparing prices regularly from providers in Madison. Rates can be compared by following these guidelines.
- Step 1: Gain an understanding of how auto insurance works and the factors you can control to keep rates down. Many policy risk factors that cause high rates such as traffic violations, accidents, and a not-so-good credit history can be amended by improving your driving habits or financial responsibility.
- Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while independent agencies can provide rate quotes for a wide range of companies. View prices
- Step 3: Compare the price quotes to your current policy premium and determine if cheaper coverage is available. If you can save some money and change companies, ensure there is no coverage lapse between policies.
One thing to remember is to use the same deductibles and limits on every price quote and and to analyze all possible companies. This guarantees a fair price comparison and many rates to choose from.
A recent NerdWallet.com study revealed that a large majority of auto insurance policyholders have been with the same company for well over three years, and virtually 40% of consumers have never compared rate quotes at all. Madison insurance shoppers could pocket approximately $370 a year just by comparing rates, but they don’t know the benefits if they bought a different policy.
When shopping for the cheapest Madison auto insurance quotes, there are a couple of ways of comparing rates from many insurance companies in Wisconsin. The recommended way to comparison shop is simply to get online rate quotes.
When comparison shopping, having more price comparisons will improve the odds of getting the best offered rates. Some regional insurers cannot provide online price quotes, so it’s recommended that you also compare rates from those companies as well.
The companies shown below are ready to provide price quotes in Madison, WI. If your goal is to find the best auto insurance in Madison, we recommend you compare several of them to get a more complete price comparison.
| Make, Model, and Trim Level | Annual Policy Premium | 6-month Policy Premium | Monthly Premium |
|---|---|---|---|
| Chevrolet Colorado LT 2WD | $690 | $345 | $58 |
| Chevrolet Equinox LT AWD | $790 | $395 | $66 |
| Chevrolet Silverado Crew Cab Hybrid 4WD | $942 | $471 | $79 |
| Dodge Ram Crew Cab ST 2WD | $854 | $427 | $71 |
| Ford Escape XLS 4WD | $666 | $333 | $56 |
| Ford Explorer Eddie Bauer 2WD | $736 | $368 | $61 |
| Ford F-150 STX Regular Cab 2WD | $712 | $356 | $59 |
| Ford Focus S 4-Dr Sedan | $766 | $383 | $64 |
| Honda Accord EX 2-Dr Coupe | $884 | $442 | $74 |
| Honda CR-V EX 4WD | $690 | $345 | $58 |
| Honda Civic EX 4-Dr Sedan | $818 | $409 | $68 |
| Hyundai Elantra SE 4-Dr Sedan | $842 | $421 | $70 |
| Nissan Altima 2.5 4-Dr Sedan | $790 | $395 | $66 |
| Toyota Camry Hybrid | $906 | $453 | $76 |
| Toyota Corolla S | $842 | $421 | $70 |
| Toyota Prius | $766 | $383 | $64 |
| Volkswagen Jetta S 4-Dr Sedan | $790 | $395 | $66 |
| Get Rate Quotes for Your Vehicle Go | |||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Estimates do not factor in vehicle location which can decrease or increase premium rates significantly.
Car insurance is not optional
Even though rates can get expensive, paying for car insurance may be mandatory for several reasons.
- Just about all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific minimum amount of liability coverage in order to get the vehicle licensed. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your vehicle, it’s guaranteed your bank will stipulate that you carry insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may insure your vehicle for a lot more money and require you to fork over for the expensive policy.
- Insurance safeguards both your car and your assets. It will also pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of insuring your vehicle more than offset the price you pay, especially for larger claims. The average driver in America is overpaying over $865 each year so shop around every year to ensure rates are inline.
Lower-cost Madison insurance rates with discounts
Some companies don’t always list the entire discount list very well, so the list below gives a summary of a few of the more common as well as some of the hidden discounts that you may qualify for. If they aren’t giving you every credit you deserve, you are just wasting money.
- Bundle and Save – When you have multiple policies and insure them with the same company you will save 10% to 20% off each policy.
- Air Bags and Passive Restraints – Factory options such as air bags and/or automatic seat belt systems can qualify for discounts of up to 25% or more.
- Waiver for an Accident – This one is not really a discount per se, but certain companies will forgive one accident without the usual rate increase if your claims history is clear prior to being involved in the accident.
- Active Military Service – Having an actively deployed family member may qualify for rate reductions.
- Own a Home – Just owning your own home can save a few bucks because maintaining a house is proof that your finances are in order.
- Multi-Vehicle Discounts – Drivers who insure multiple cars or trucks on one policy could earn a price break for each car.
- Pay Early and Save – If you can afford to pay the entire bill as opposed to paying monthly you could save 5% or more.
A little note about advertised discounts, most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like collision or personal injury protection. Despite the appearance that you can get free auto insurance, that’s just not realistic.
If you would like to view providers who offer discounts in Wisconsin, click here to view.
You may need specialized insurance coverage
When it comes to coverage online or from an agent, there is no perfect coverage plan. Everyone’s needs are different.
For instance, these questions can help discover if your insurance needs might need an agent’s assistance.
- Am I covered if I hit someone who is not insured?
- Are there any extra discounts I can get?
- When should I not buy collision coverage?
- Is my state a no-fault state?
- Do they offer discounts for home and auto coverage?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Why do I only qualify for high-risk insurance?
- Are all vehicle passengers covered by medical payments coverage?
- What if I don’t agree with a claim settlement offer?
- If I use my vehicle for business use is it covered?
If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, simply complete this short form.