For pre-owned vehicles, one of the largest components that are looked at to help calculate the amount you pay each year for auto insurance is where you call home in Madison. Areas with high crime rates or more dense population will most likely have higher rates, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.
The next table shows the priciest cities in Wisconsin for used cars to buy an auto insurance policy in. Madison shows up at #11 with the annual price of $1,072 for the average policyholder, which is about $89 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Milwaukee | $1,410 |
| 2 | Wauwatosa | $1,319 |
| 3 | West Allis | $1,210 |
| 4 | Oak Creek | $1,190 |
| 5 | Kenosha | $1,182 |
| 6 | Racine | $1,181 |
| 7 | Greenfield | $1,168 |
| 8 | Beloit | $1,152 |
| 9 | Franklin | $1,129 |
| 10 | Eau Claire | $1,081 |
| 11 | Madison | $1,072 |
| 12 | La Crosse | $1,064 |
| 13 | Menomonee Falls | $1,057 |
| 14 | Waukesha | $1,054 |
| 15 | New Berlin | $1,049 |
| 16 | Wausau | $1,047 |
| 17 | Brookfield | $1,045 |
| 18 | Janesville | $1,042 |
| 19 | West Bend | $987 |
| 20 | Fond du Lac | $985 |
| 21 | Green Bay | $960 |
| 22 | Oshkosh | $960 |
| 23 | Manitowoc | $957 |
| 24 | Appleton | $954 |
| 25 | Sheboygan | $935 |
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Premium amounts are comparative as specific Madison garaging address can impact price quotes greatly.
The vehicle that is being insured is probably the biggest factor that determines whether or not you can buy cheaper auto insurance for used cars. Vehicles with limited top-end speed, good crash test ratings, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models.
The data below presents coverage prices for the most cost-effective vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Edge SE 2WD | $1,131 |
| Ford F-150 STX Super Cab 4WD | $1,177 |
| Ford Escape XLS 2WD | $1,181 |
| Toyota Tacoma 2WD | $1,193 |
| Chevrolet Malibu LS | $1,216 |
| Toyota Camry LE | $1,225 |
| Toyota RAV4 4WD | $1,216 |
| Ford Explorer Limited 2WD | $1,239 |
| Ford Focus SEL 4-Dr Sedan | $1,257 |
| Chevrolet Impala LTZ | $1,280 |
| Honda CR-V EX-L 4WD | $1,292 |
| Chevrolet Equinox LTZ AWD | $1,303 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,313 |
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Price estimates do not factor in vehicle location which can influence rates noticeably.
Based upon the rates shown, you can figure that cars like the Ford Edge, Ford F-150, Ford Escape, and Toyota Tacoma will be the less-costly vehicles to insure for pre-owned vehicles.
Selecting a high-quality auto insurance company can be rather challenging considering how many companies are available to choose from in Madison. The information shown next can help you decide which providers you want to consider when insurance shopping for used cars. The rankings below only include the companies with a significant amount of written premium nationwide, so companies that have a smaller presence are not factored into the list.
Top 10 Large Auto Insurance Providers in Madison Ranked by Customer Service
- State Farm
- Nationwide
- Safeco Insurance
- American Family
- Travelers
- Liberty Mutual
- GEICO
- Allstate
- Erie Insurance
- The Hartford
Top 10 Large Auto Insurance Providers in Madison Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
Discounts on Madison auto insurance
Insurance companies that offer coverage for used cars could also offer policy discounts that could potentially reduce rates by as much as 25% or more if you are eligible. Large car insurance companies and some of their more popular discounts are detailed below.
- Farm Bureau discounts include 55 and retired, driver training, multi-policy, multi-vehicle, and renewal discount.
- MetLife offers discounts for claim-free, good student, good driver, multi-policy, accident-free, and defensive driver.
- Progressive has savings for online signing, multi-policy, multi-vehicle, continuous coverage, homeowner, good student, and online quote discount.
- AAA offers discounts including good student, anti-theft, multi-policy, multi-car, pay-in-full, and good driver.
- American Family policyholders can earn discounts including accident-free, air bags, mySafetyValet, defensive driver, bundled insurance, and Steer into Savings.
- GEICO has discounts for driver training, good student, anti-lock brakes, federal employee, and five-year accident-free.
- State Farm offers premium reductions for multiple autos, good driver, safe vehicle, Steer Clear safe driver discount, anti-theft, and good student.
The diagram below compares insurance premiums with and without discounts applied to the policy premium. The information is based on a male driver, no violations or claims, Wisconsin state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with defensive driving course, claim-free, accident-free, multiple policy, homeowner, and anti-theft discounts applied. With discounts applied, the average amount saved each year on car insurance for used cars is 28% or $408.
Why you should be shopping around
Wisconsin car insurance rates are determined by lots of factors that will increase or decrease the policy premium. Improving your credit score, moving to a different location, or having an at-fault accident may prompt premium changes resulting in some companies being cheaper than others. Not only that, but insurance companies file new Wisconsin car insurance rates multiple times each year in order to maintain liquidity for claims. Higher than normal claim frequency or severity can result in more expensive premiums, while a better claims history may produce cheaper Madison car insurance rates.
As an example, the chart below compares the cheapest car insurance in Madison, WI for a 45-year-old male driver with no violations or accidents, and a decent credit rating. When quoting prices based on his personal profile, USAA quotes the lowest car insurance rates in Madison at $688 a year. This is $473 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide are the rest of the best Madison, WI auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates a claim surcharge, a little lower credit rating, and a speeding citation. Since each company uses a different method to set premium rates, getting updated rate quotes may result in a slightly different list of the cheapest Madison car insurance companies as shown below.
Pekin Insurance now has the lowest price in Madison with Western National, Integrity Mutual, Travelers, and West Bend Mutual also having competitive pricing. This example demonstrates why consumers need to take the time to compare rates when trying to find the cheapest auto insurance quotes for used cars.
Car insurance prices can be determined by many risk factors and can change substantially, so the cheapest option three years ago may now be quite expensive.