Baffled by the dozens of insurance providers in Madison? You have so many options that it is a real difficult job to find the perfect company for you. Madison has many things to offer, but pricey insurance can make it very difficult to buy proper levels of coverage.
Everyone knows that insurance companies don’t want you to compare rates. Consumers who shop around will, in all likelihood, move their business because there is a good chance of finding discount prices. A recent insurance study discovered that drivers who routinely compared quotes saved as much as $865 annually compared to those who don’t make a habit of comparing rates.
If saving the most money on auto insurance in Madison is your intention, understanding how to compare coverage rates can make the process less intimidating.
Smart consumers take time to compare prices at least once a year due to the fact that insurance prices are adjusted regularly by insurance companies. Just because you had the lowest rate on Lincoln MKZ insurance in Madison a year ago you will most likely find a better premium rate today. There is a lot of wrong information about MKZ insurance on the web, but we’re going to give you some guaranteed methods to buy insurance cheaper in Madison.
The intent of this article is to tell you the best way to quote coverages. If you are already insured, you will surely be able to buy cheaper insurance using the tips covered below. But Wisconsin car owners do need to understand the methods companies use to determine prices because it varies considerably.
Get cheaper Lincoln MKZ insurance rates in Madison
Not too many consumers would say auto insurance is affordable, but you might find some hidden discounts that can help lower your rates. A few discounts will be applied at quote time, but some must be specifically requested in order for you to get them.
- Driver Training Discounts – Participating in a course in safe driver can save you 5% or more and easily pay for the cost of the class.
- Discounts for Federal Employees – Federal government employees could qualify for a slight premium decrease depending on your company.
- Early Renewal Discounts – Some insurance companies provide a discount for renewing your policy early. It can save you around 10%.
- Active Service Discounts – Being deployed with a military unit may qualify for rate reductions.
- Senior Discount – Drivers over the age of 55 may be able to get lower premium rates.
Remember that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce individual premiums such as liability and collision coverage. Even though it appears you can get free auto insurance, you’re out of luck.
The illustration below illustrates the difference between Lincoln MKZ premium costs with and without discounts applied to the policy rates. The price estimates are based on a female driver, a clean driving record, no at-fault accidents, Wisconsin state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, homeowner, multi-car, marriage, and multi-policy discounts applied.
A list of companies and their offered discounts can be found below.
- State Farm has discounts for passive restraint, defensive driving training, good student, multiple policy, student away at school, and good driver.
- GEICO may have discounts that include membership and employees, driver training, daytime running lights, federal employee, anti-lock brakes, and air bags.
- SAFECO offers premium reductions for teen safe driver, teen safety rewards, anti-theft, safe driver, and accident prevention training.
- Farmers Insurance offers discounts for alternative fuel, good student, distant student, pay in full, and switch companies.
- AAA includes discounts for good student, education and occupation, multi-policy, multi-car, AAA membership discount, and good driver.
- USAA policyholders can earn discounts including defensive driver, loyalty savings, driver training, good student, multi-vehicle, and safe driver.
When comparing rates, check with every prospective company which credits you are entitled to. All car insurance discounts may not be offered in Madison.
When shopping for inexpensive Madison car insurance quotes, there are a couple of ways of comparing price quotes from different companies. The best method to find cheaper rates involves getting comparison quotes online.
When comparing auto insurance rates, know that comparing more rates from different companies increases the chance that you will find the best rates.
The companies in the list below are our best choices to provide price comparisons in Madison, WI. If multiple companies are listed, we suggest you click on several of them in order to get a fair rate comparison.
Rates and data analysis
The information shown below highlights estimates of insurance coverage prices for Lincoln MKZ models. Having knowledge of how policy premiums are established is important for making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| MKZ 4-Dr Sedan | $218 | $558 | $314 | $18 | $94 | $1,202 | $100 |
| MKZ AWD 4-Dr Sedan | $218 | $558 | $314 | $18 | $94 | $1,202 | $100 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Information does not factor in specific location which can increase or decrease rates significantly.
Difference between liability only and full coverage rates
The diagram below compares Lincoln MKZ annual premium costs with full coverage and liability only. The costs are based on no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no policy discounts are applied.
When to stop buying full coverage
There is no set guideline to stop buying full coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Lincoln MKZ replacement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after paying the physical damage deductible. If you are paying over $600 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some scenarios where removing full coverage is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
Situations that may require an agent’s advice
When it comes to a policy, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different.
For instance, these questions may help you determine if your situation will benefit from professional help.
- Can my teen drive my company car?
- I don’t drive much so do I pay less?
- Should I drop comprehensive coverage on older vehicles?
- How can I get the company to pay a claim?
- Can I cancel at any time?
- Does my Lincoln MKZ qualify for pleasure use?
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. To find an agent in your area, complete this form.
Insurance agent or online?
Many people prefer to talk to a local agent. The biggest benefit of getting online price quotes is that you can find cheap rate quotes and still have an agent to talk to. And supporting local agents is still important in Madison.
After filling out this quick form, your insurance coverage information is instantly submitted to companies in Madison who will gladly provide quotes for your business. There is no need to drive around as quotes are delivered directly to you. Get lower rates and work with a local agent. If you want to quote rates from a specific company, you just need to jump over to their website and give them your coverage information.
When finding a local agent, it’s important to understand the types of agencies and how they can write your policy. Insurance agencies in Madison can be classified as either exclusive or independent (non-exclusive).
Independent Car Insurance Agencies
These type of agents are not employed by one company so they have the ability to put coverage through many different car insurance companies and find you cheaper rates. If you are not satisfied with one company, the business is moved internally and the insured can keep the same agent. When comparison shopping, we recommend you include at least one independent agent for maximum quote selection. They often place coverage with small regional insurance companies that can offer cheaper rates than bigger companies.
The following is a short list of independent insurance agencies in Madison who can help you get pricing information.
- Stainbrook Agency
2810 Crossroads Dr #4000 – Madison, WI 53718 – (608) 535-9291 – View Map - Thomas Bradley Insurance
1001 Fourier Dr Suite 100 – Madison, WI 53717 – (608) 845-7979 – View Map - Neckerman Insurance Services
6200 Mineral Point Rd – Madison, WI 53705 – (608) 238-2686 – View Map
Exclusive Insurance Agencies
Agents in the exclusive channel can only quote rates from one company and some examples include State Farm or Allstate. Exclusive agencies are unable to provide other company’s prices so always compare other rates. Exclusive agents receive a lot of sales training on what they offer which helps them compete with independent agents. Many people buy from the same agent for years mainly due to the brand legacy and the convenience of having a single billing for all their coverages.
Below are Madison exclusive insurance agents that can give you rate quotes.
- American Family Insurance – Josh Erickson Agency LLC
5530 Eastpark Blvd – Madison, WI 53718 – (608) 241-8444 – View Map - Larry Sain – State Farm Insurance Agent
424 S Park St – Madison, WI 53715 – (608) 257-5132 – View Map - American Family Insurance – Brian Uelmen
4222 Milwaukee St Ste 81 – Madison, WI 53714 – (608) 241-8688 – View Map
Picking an insurance agency shouldn’t rely on just a cheap price. Before buying a policy in Madison, get answers to these questions.
- Do they offer accident forgiveness?
- Do they offer rental car reimbursement?
- Does the agency have a positive business rating?
- Is the agency covered by Errors and Omissions coverage?
- Can they give you a list of client referrals?
After getting reasonable responses to these questions as well as cheaper MKZ insurance quotes, you may have found an insurance agent that can be trusted to adequately provide car insurance.
Smart consumers save more
Affordable Lincoln MKZ insurance in Madison is attainable both online and also from your neighborhood Madison agents, and you should compare price quotes from both to get a complete price analysis. Some insurance companies don’t offer internet price quotes and usually these regional carriers prefer to sell through independent insurance agencies.
As you go through the steps to switch your coverage, it’s a bad idea to reduce needed coverages to save money. In many instances, consumers will sacrifice liability limits or collision coverage and learned later that their decision to reduce coverage ended up costing them more. Your strategy should be to purchase plenty of coverage for the lowest cost, but don’t skip important coverages to save money.
Insureds switch companies for a number of reasons such as denial of a claim, policy cancellation, questionable increases in premium and delays in responding to claim requests. Regardless of your reason, switching companies is actually quite simple.
Steps to finding the cheapest rates for Lincoln MKZ insurance in Madison
It takes a few minutes, but the best way to get discount auto insurance rates in Madison is to compare prices once a year from different companies in Wisconsin. Drivers can shop around by following these steps.
- First, take a few minutes and learn about how insurance works and the factors you can control to keep rates in check. Many rating factors that cause high rates like traffic citations and a low credit score can be eliminated by being financially responsible and driving safely.
- Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can provide rate quotes for a wide range of companies.
- Third, compare the new rates to the premium of your current policy to see if a cheaper rate is available in Madison. If you can save some money and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
One bit of advice is to use the same amount of coverage on each quote and and to get prices from as many carriers as you can. This ensures a fair rate comparison and maximum price selection.
Much more information about auto insurance in Wisconsin can be read below:
- Auto Insurance FAQ (Farmers Insurance)
- What Insurance is Cheapest for Lyft Drivers in Madison? (FAQ)
- Who Has Cheap Auto Insurance Rates for Teachers in Madison? (FAQ)
- Who Has Affordable Madison Car Insurance Rates for High Mileage Drivers? (FAQ)
- Distracted Driving (Insurance Information Institute)
- Anti-Lock Brake FAQ (iihs.org)
- Get the Right Protection (InsureUonline.org)