The make and model of vehicle driven is one of the main factors when looking for the most affordable car insurance for drivers requiring a SR22. Vehicles with lower performance, good crash test ratings, or a positive history of liability claims will cost less to insure than adrenaline junky models.
The next table shows coverage rates for the more affordable automobiles to buy coverage for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $3,503 |
| Honda CR-V EX 2WD | $3,510 |
| Ford F-150 XL Regular Cab 2WD | $3,730 |
| Toyota Prius | $3,873 |
| Ford Explorer Eddie Bauer AWD | $3,997 |
| Chevrolet Impala LS | $4,107 |
| Ford Focus SE 4-Dr Sedan | $4,115 |
| Hyundai Elantra GLS 4-Dr Sedan | $4,138 |
| Dodge Grand Caravan Hero | $4,146 |
| Chevrolet Equinox LTZ 2WD | $4,175 |
| Chevrolet Malibu LT | $4,188 |
| Chevrolet Silverado 3500HD LT Crew Cab 2WD | $4,212 |
| Toyota RAV4 Limited 4WD | $4,249 |
| Toyota Tacoma X-Runner 2WD | $4,335 |
| Ford Edge Sport AWD | $4,343 |
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Above prices assume single female driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Information does not factor in zip code location which can decrease or increase rates greatly.
Looking at the data, we can expect vehicles like the Ford Escape, Honda CR-V, Ford F-150, and Toyota Prius are likely to be the cheapest vehicles to insure for high risk drivers. The cost of a car insurance policy will be higher anyway because of the fact that there is more claim risk for drivers requiring a SR22, but generally speaking those particular vehicles will have the lowest insurance prices possible.
One of the many factors that are looked at to determine auto insurance rates is where you keep your vehicle in Madison. More populated areas tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from having to pay less for coverage.
The illustration below lists the most costly cities in Wisconsin for drivers requiring a SR22 to buy car insurance in. Madison is ranked #16 with the yearly price of $1,030 for the average policy, which is about $86 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Wauwatosa | $1,359 |
| 2 | Milwaukee | $1,354 |
| 3 | West Allis | $1,234 |
| 4 | Kenosha | $1,230 |
| 5 | Racine | $1,217 |
| 6 | Greenfield | $1,192 |
| 7 | Oak Creek | $1,166 |
| 8 | Franklin | $1,163 |
| 9 | Beloit | $1,130 |
| 10 | Eau Claire | $1,081 |
| 11 | Wausau | $1,079 |
| 12 | Brookfield | $1,077 |
| 13 | Janesville | $1,053 |
| 14 | Waukesha | $1,034 |
| 15 | La Crosse | $1,033 |
| 16 | Madison | $1,030 |
| 17 | New Berlin | $1,029 |
| 18 | Menomonee Falls | $1,026 |
| 19 | Manitowoc | $987 |
| 20 | West Bend | $977 |
| 21 | Green Bay | $969 |
| 22 | Fond du Lac | $965 |
| 23 | Appleton | $964 |
| 24 | Sheboygan | $963 |
| 25 | Oshkosh | $960 |
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Premium amounts are approximated as the specific area where the vehicle is garaged can modify premium rates noticeably.
Finding reliable, cheap auto insurance is difficult, and figuring out which company has the best auto insurance rates for drivers requiring a SR22 involves even more shopping around. Each insurer uses a little different formula for determining rates in each state, so let’s take a look at the most competitive auto insurance companies in Madison.
We do need to point out that Wisconsin auto insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Improving your credit score, increasing liability limits, or having an accident can cause premium changes that can cause some rates to be more affordable than others.
Cheap Insurance Rates for SR22 Drivers
USAA has some of the cheapest car insurance rates in Madison at around $598 each year. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance would also be considered some of the cheapest Madison, WI car insurance companies.
As shown in the rates above, if you are a customer of Partners Mutual and switched to USAA, you might realize savings of in the vicinity of $34. Wisconsin drivers with Erie might save as much as $98 a year, and Rockford Mutual customers might reduce prices by as much as $134 a year.
If you want to find out if you’re overpaying, click here to get quotes or quote prices from the following companies.
Remember that these policy prices are averaged across all types of insureds and vehicles and do not factor in an exact vehicle garaging location for drivers requiring a SR22. So the company that is most affordable for your situation may not even be in the top 30 companies in the list above. That helps illustrate why you need to compare prices as often as possible using your own specific driver and vehicle information.
How to get discounts on Madison insurance rates
Insurance companies that provide policies for drivers requiring a SR22 may also provide rate discounts that could reduce prices by 25% or more if you meet specific eligibility requirements. Companies and their offered discounts are detailed below.
- Progressive may have discounts that include online signing, online quote discount, good student, continuous coverage, homeowner, and multi-vehicle.
- AAA includes discounts for anti-theft, multi-policy, pay-in-full, good student, education and occupation, multi-car, and AAA membership discount.
- Farmers Insurance has discounts for early shopping, alternative fuel, bundle discounts, pay in full, multi-car, and youthful driver.
- GEICO offers premium reductions for daytime running lights, military active duty, anti-lock brakes, seat belt use, and multi-policy.
- Esurance has savings for multi-car, good driver, defensive driver, homeowner, online shopper, and anti-theft.
- SAFECO may offer discounts for accident prevention training, multi-car, drive less, teen safety rewards, and teen safe driver.
- State Farm offers discounts including good student, Drive Safe & Save, multiple autos, Steer Clear safe driver discount, multiple policy, and defensive driving training.
The diagram below shows the comparison of insurance costs with and without discounts being applied to the rates. The rate quotes are based on a female driver, one at-fault accident and two violations, Wisconsin state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with multiple policy, homeowner, paperless filing, multiple vehicle, passive restraint, and continuous coverage discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on auto insurance for drivers requiring a SR22 is 28% or $539.
Picking a high-quality company can be a challenge considering how many companies there are to choose from in Madison. The ranking information shown below can help you decide which providers you want to consider buying from. The ratings below are only comprised of companies with a nationwide focus, so smaller companies will not be included in the list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
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Data Source: Insure.com Best Car Insurance Companies
Your cheap policy may actually be overpriced
Madison auto insurance rates are impacted by many things which can substantially change the price you have to pay. Simply turning a year older, adding a teenager to your policy, or getting a DUI can trigger price changes resulting in some companies being cheaper than before. Not only may your risk profile change, but car insurance companies change the rates they charge in Wisconsin every year to adjust for unexpected claims or profits. A period of increased losses may cause increased policy costs, while less frequent claims can cause cheaper Madison car insurance rates.
For example, the bar chart below shows the cheapest car insurance in Madison, WI for a 40-year-old male driver with no prior accidents, a clean driving record, and good financial standing. If we estimate prices based on his current rating profile, USAA has the best car insurance rates in Madison at $635 a year. This is $526 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance are also on the list of the best Madison, WI auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates some claims, a lower credit score, and a blemish on his driving record. Since each company has a proprietary formula to set policy rates, comparing prices may now present a significantly different list of affordable Madison car insurance companies as shown below.
Nationwide now has the lowest car insurance rate in Madison with Rural Mutual Insurance, Western National, Travelers, and Partners Mutual also being competitive. This example demonstrates why it is critical to perform an extensive rate comparison when trying to find the most budget-friendly auto insurance quotes for drivers requiring a SR22. Auto insurance prices are calculated by many things and change substantially, so the most affordable company the last time you shopped your coverage around may now be quite expensive.