Determining which companies have the most affordable auto insurance rates for state employees will require a bit more effort in order to find the best price. Each insurer has their own guidelines for determining rates, so we will examine the auto insurance companies with the most affordable rates in Madison, WI.
It’s important that readers know that Madison auto insurance rates are based on many factors which can substantially decrease or increase the cost of your policy. Turning one year older, buying a home, or having a fender bender can cause premium changes that can cause some rates to be cheaper than before.
Lowest Insurance Price Quotes in Wisconsin
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $580 |
| 2 | Partners Mutual | $608 |
| 3 | Erie | $703 |
| 4 | Rockford Mutual | $724 |
| 5 | Pekin Insurance | $745 |
| 6 | Nationwide | $752 |
| 7 | Rural Mutual Insurance | $756 |
| 8 | Integrity Mutual | $762 |
| 9 | Western National | $769 |
| 10 | Travelers | $804 |
| 11 | State Farm | $896 |
| 12 | West Bend Mutual | $926 |
| 13 | Auto Club Group | $939 |
| 14 | The Hartford | $950 |
| 15 | General Casualty | $954 |
| 16 | Progressive | $1,118 |
| 17 | American Family | $1,125 |
| 18 | Farmers | $1,141 |
| 19 | Auto-Owners | $1,148 |
| 20 | State Auto | $1,235 |
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USAA generally has some of the lowest car insurance rates in Madison at around $580 each year. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance also make the cut as some of the more affordable Madison, WI insurance companies.
As shown above, if you buy coverage from Erie and switched to USAA, you may see an annual savings of in the vicinity of $123. Insureds with Rockford Mutual might save as much as $144 a year, and Pekin Insurance customers might realize rate reductions of up to $165 a year.
Remember that these policy prices are averaged across all drivers and vehicles in Wisconsin and do not factor in a vehicle location for state employees. So the auto insurance company that is best for you may not even be in the top 30 companies shown above. That points out the importance of why you need to compare rates from as many companies as possible using your own individual information.
For state workers, one of the largest considerations that are used to help calculate the annual cost of car insurance is your address. Regions with larger populations or more claims tend to have more expensive auto insurance rates, whereas more rural areas benefit from lower prices.
The table below ranks the highest-priced places in Wisconsin for state employees to buy an auto insurance policy in. Madison is ranked #13 with an annual cost of $1,040 for coverage, which is approximately $87 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Milwaukee | $1,368 |
| 2 | Wauwatosa | $1,305 |
| 3 | West Allis | $1,234 |
| 4 | Racine | $1,217 |
| 5 | Kenosha | $1,194 |
| 6 | Oak Creek | $1,166 |
| 7 | Franklin | $1,163 |
| 8 | Greenfield | $1,156 |
| 9 | Beloit | $1,118 |
| 10 | Brookfield | $1,067 |
| 11 | Waukesha | $1,065 |
| 12 | Eau Claire | $1,059 |
| 13 | Madison | $1,040 |
| 14 | Wausau | $1,037 |
| 15 | Menomonee Falls | $1,037 |
| 16 | La Crosse | $1,033 |
| 17 | New Berlin | $1,029 |
| 18 | Janesville | $1,022 |
| 19 | Oshkosh | $989 |
| 20 | West Bend | $987 |
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Rate quotes are comparative as specific location information can modify coverage prices greatly.
The vehicle model you are trying to insure is probably the most important factor that determines if you can find cheaper insurance for state employees. Vehicles with higher performance characteristics, poor passenger safety features, or high incidents of liability claims will cost quite a bit more to insure than more modest models.
The information below ranks insurance prices for a number of the most economical automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 4WD | $1,038 |
| Toyota Prius | $1,058 |
| Honda CR-V EX 4WD | $1,106 |
| Toyota RAV4 2WD | $1,130 |
| Dodge Grand Caravan Crew | $1,150 |
| Honda Accord EX-L 4-Dr Sedan | $1,165 |
| Honda Civic LX-S 4-Dr Sedan | $1,170 |
| Hyundai Elantra SE 4-Dr Sedan | $1,192 |
| Nissan Rogue SL 2WD | $1,212 |
| Chevrolet Silverado LT Crew Cab 4WD | $1,220 |
| Ford Edge SEL AWD | $1,214 |
| Chevrolet Impala LS | $1,245 |
| Ford Explorer Limited 2WD | $1,262 |
| Ford Fusion S 4-Dr Sedan | $1,273 |
| GMC Sierra SLE Regular Cab 2WD | $1,283 |
| Toyota Camry Hybrid | $1,293 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,302 |
| Ford F-150 XLT Crew Cab 4WD | $1,311 |
| Toyota Camry XLE | $1,307 |
| Toyota Corolla XLE | $1,315 |
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Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rates do not factor in vehicle location which can modify premium rates substantially.
Looking at the data, we can infer that vehicles like the Ford Escape, Toyota Prius, Honda CR-V, and Toyota RAV4 will be some of the most affordable vehicles to insure for state workers.
Cost comparison with and without full coverage
Paying less for auto insurance is the goal of most vehicle owners, and one common way to buy cheap insurance for state employees is to only buy liability insurance. The information below shows the comparison of auto insurance rates when comparing full coverage to liability only. The data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are factored in.
As an average, physical damage insurance costs an additional $974 per year more than buying just liability insurance. That is a significant amount which raises the question when is it a good idea to stop buying full coverage. There is no definitive guideline to stop buying full coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s replacement cost is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $11,000 after the policy deductible has been paid. If you are paying more than $1,100 a year to have full coverage, then you may want to consider only buying liability coverage.
There are a few situations where removing full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should maintain full coverage.
How to get discounts on Madison insurance rates
Auto insurance companies that provide policies for state employees may have rate discounts that could reduce prices by as much as 35% or more if you qualify. Larger auto insurance companies and some of the premium reductions they offer are:
- Progressive offers premium reductions for homeowner, online quote discount, online signing, multi-policy, and continuous coverage.
- MetLife includes discounts for good driver, accident-free, multi-policy, good student, defensive driver, claim-free
- Mercury Insurance offers discounts including good driver, ease of repair, good student, accident-free, low natural disaster claims, and annual mileage.
- Nationwide may offer discounts for easy pay, family plan, business or organization, accident-free, Farm Bureau membership, and good student.
- GEICO offers discounts for seat belt use, membership and employees, anti-theft, multi-vehicle, and federal employee.
- AAA may include discounts for pay-in-full, multi-car, AAA membership discount, anti-theft, and good driver.
The illustration below shows the comparison of car insurance costs with and without discounts applied to the policy premium. The premiums are based on a female driver, no claims or driving citations, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with anti-theft, multiple policy, defensive driving course, homeowner, safe-driver, and claim-free discounts applied. When these discounts are applied, theaverage amount saved on auto insurance for state employees is 28% or $383.
Ideas for finding budget-friendly insurance for state employees
The list below shows a few thrifty suggestions that can help Madison drivers find lower-cost car insurance.
- Be a cautious driver
- Good credit scores may lower your rates
- Avoid filing excessive claims
- Buy vehicles with five-star safety ratings
- Avoid having at-fault accidents
- Compare prices as often as possible
That last piece of advice is extremely necessary, as we stressed in the prior article. Prices in Madison can change in a short period of time, so drivers shouldn’t be resistant to switch carriers if a lower price can be found. Loyalty to a specific company is fine, but it’s not recommended if that inflexibility results in costing you thousands of dollars over the life of your policy. Take a few minutes and compare rates and find cheaper insurance for state employees.