Cheap Insurance for a Chevy Camaro in Madison

If your goal is the lowest price, then the best way to get affordable Chevy Camaro insurance is to begin comparing prices regularly from different companies who can sell car insurance in Madison. You can shop around by following these guidelines.

Step 1: Take a little time to learn about coverages and the things you can change to prevent expensive coverage. Many policy risk factors that result in higher rates such as at-fault accidents, speeding tickets, and an imperfect credit rating can be controlled by making lifestyle changes or driving safer. Read the full article for more ideas to prevent rate hikes and find more discounts that you may not know about.

Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like Progressive or Allstate, while independent agents can provide price quotes for a wide range of companies. Compare rates now

Step 3: Compare the new quotes to the premium of your current policy to see if you can save by switching companies. If you can save money, make sure there is no lapse in coverage.

Step 4: Give proper notification to your current agent or company of your intent to cancel your current coverage. Submit a down payment along with a completed application for your new coverage. When you receive it, place your new proof of insurance paperwork in your vehicle.

A valuable tip to remember is to make sure you enter the same liability limits and deductibles on each quote and and to get rates from as many companies as possible. Doing this enables a level playing field and a thorough price selection.

Astonishing but true according to a recent study, nearly 70% of customers have stayed with the same insurance company for more than four years, and approximately 40% of consumers have never compared rates with other companies. Madison drivers could save an average of $370 each year just by shopping around, but they don’t want to take the time to compare rates online.

If you are already insured or are looking for a new policy, use these tips to cut your premiums while maximizing coverage. Quoting and comparing rates for the lowest cost insurance policy in Madison is quite easy. Drivers just have to understand how to shop online.

Finding cheap Chevy Camaro car insurance quotes is pretty simple and can save money. The only requirement is to take the time comparing free Madison auto insurance quotes from online providers.

The companies shown below are our best choices to provide free rate quotes in Madison, WI. In order to find cheaper car insurance in Wisconsin, we suggest you get price quotes from several of them to find the most affordable auto insurance rates.

Why do I need car insurance?

Even though it’s not necessarily cheap to insure a Chevy in Madison, paying for car insurance may be required for several reasons.

• Most states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific limits of liability protection if you don’t want to risk a ticket. 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 your Chevy Camaro has a lienholder, it’s most likely the lender will force you to have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank may insure your Chevy at a much higher premium rate and require you to reimburse them the higher price.
• Insurance safeguards your car and your assets. Insurance will pay for most medical and hospital costs that are the result of an accident. As part of your policy, liability insurance also covers legal expenses in the event you are sued. If mother nature or an accident damages your car, your policy will pay to have it repaired.

The benefits of having insurance outweigh the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is overpaying more than $855 a year so compare rates every year to make sure the price is not too high.

Chevy Camaro insurance rates and statistics

The information shown next outlines a range of insurance prices for Chevy Camaro models. Learning as much as possible about how auto insurance prices are determined can assist in making decisions when choosing a new policy provider.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Prices do not factor in zip code location which can affect coverage rates substantially.

Physical damage deductibles: Should you raise them?

One frequently asked question is at what level do you set your deductibles. The comparisons below can help illustrate the rate difference between low and high insurance deductibles. The first rate comparisons uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rate information does not factor in specific garaging location which can raise or lower insurance rates significantly.

Using the data above, we can ascertain that using a $250 deductible costs approximately $20 more each month or $240 a year averaged for all Camaro models than selecting the higher $1,000 deductible. Because you would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go more than 38 months between claims, you would save more money if you opt for a higher deductible.

The diagram below shows how different deductible levels and can increase or decrease Chevy Camaro annual premium costs for different insured age categories. The data is based on a single female driver, full coverage, and no discounts are taken into consideration.

Insurance rate increases from tickets or accidents

The example below illustrates how speeding tickets and accidents increase Chevy Camaro insurance costs for each age group. The prices are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are applied.

Rate comparison of full coverage and liability-only

The chart below visualizes the comparison of Chevy Camaro insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no claims or driving citations, $500 deductibles, single marital status, and no discounts are applied to the premium.

Guidelines for dropping full coverage

There is no definitive rule to exclude comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your Chevy Camaro replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $2,000 after paying the physical damage deductible. If you are paying in excess of $200 annually for full coverage, then you may need to consider dropping full coverage.

There are some circumstances where dropping full coverage is not advised. If you haven’t satisfied your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not opt for liability only.

Lower-cost Madison insurance quotes with discounts

The price of auto insurance can be rather high, but you may qualify for discounts that could drop your premiums quite a bit. Some of these discounts will be visible when you get a quote, but a few must be requested specifically prior to getting the savings. If you do not double check each discount possible, you could be saving more on your insurance.

• Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may earn rate discounts of 20% or more.
• Save over 55 – Drivers over the age of 55 are able to get a small discount on rates.
• Claim Free – Claim-free drivers pay less in comparison to bad drivers.
• Active Service Discounts – Being on active deployment in the military could mean lower premium rates.
• Homeowners Savings – Simply owning a home can save you money since owning and maintaining a home requires a higher level of personal finance.
• Theft Deterrent – Cars and trucks that have factory anti-theft systems have a lower chance of being stolen and will qualify for a discount on a Madison auto insurance quote.
• Telematics Data Discounts – Insureds who allow their insurance company to study vehicle usage through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if they exhibit good driving behavior.
• Bundle and Save – If you can bundle your auto and home insurance and insure them both with the same insurance company they may give you a discount of at least 10% off all policies.
• Discounts for Federal Employees – Having worked for a branch of the government may qualify for a discount when you quote Madison auto insurance with certain companies.
• Multi-line Discount – Select insurance companies reward you with a break if you buy life insurance from them.

As a sidenote, most discount credits are not given to the entire policy premium. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like having all the discounts means you get insurance for free, companies don’t profit that way.

The chart below shows the comparison of Chevy Camaro premium costs with and without discounts applied to the policy rates. The rate quotes are based on a male driver, no violations or accidents, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, homeowner, marriage, multi-policy, and claim-free discounts applied.

Large insurance companies and a selection of discounts can be read below.

• GEICO may offer discounts for military active duty, multi-policy, good student, multi-vehicle, and anti-theft.
• Travelers may have discounts that include early quote, multi-car, student away at school, payment discounts, and save driver.
• Nationwide has savings for business or organization, good student, easy pay, accident-free, defensive driving, and anti-theft.
• Farmers Insurance includes discounts for homeowner, teen driver, pay in full, early shopping, and switch companies.
• Esurance discounts include renters, multi-policy, online quote, online shopper, and Pac-12 alumni.
• State Farm has discounts for anti-theft, good driver, accident-free, multiple autos, and passive restraint.
• Progressive offers discounts including multi-vehicle, online signing, homeowner, multi-policy, good student, online quote discount, and continuous coverage.
• Mercury Insurance policyholders can earn discounts including multi-policy, anti-theft, good driver, ease of repair, and age of vehicle.

If you are trying to find low cost Madison auto insurance quotes, ask all companies you are considering how you can save money. Some of the earlier mentioned discounts might not be offered on policies in your area.

Comparing rates from local Madison car insurance agents

A small number of people prefer to buy from a licensed agent and that is not a bad decision Professional insurance agents can help you build your policy and help file insurance claims. One of the best bonuses of comparing insurance prices online is you may find lower rates and also buy local.

To help locate an agent, after submitting this quick form, the coverage information is instantly submitted to agents in your area who will give you bids and help you find cheaper coverage. You won’t need to search for any insurance agencies since rate quotes are delivered immediately to your email address. If for some reason you want to compare prices for a specific company, you just need to visit that company’s website to submit a rate quote request.

Choosing the best provider should depend on more than just the price. These are valid questions to ask:

• What is the agency’s Better Business Bureau rating?
• Are you getting all the discounts the company offers?
• Do they make recommendations based only on price?
• Is there a local claims center in Madison?
• Do you have coverage for a rental car if your vehicle is in the repair shop?

Multiple types of car insurance agents in Madison

If you would like to find a reliable insurance agency, there are a couple of different types of agents from which to choose. Car insurance agents in Madison are either exclusive agents or independent agents. Either can sell and service car insurance coverage, but it’s a good idea to understand the difference in the companies they write for since it can affect your selection of an agent.

Exclusive Car Insurance Agencies

Exclusive agencies have only one company to place business with and examples are AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agencies are unable to give you multiple price quotes so they are skilled at selling on more than just price. They are usually well trained on their company’s products which helps them sell insurance even at higher premiums. Some people will only purchase coverage from exclusives mostly because of loyalty to the company rather than low rates.

The following are exclusive agents in Madison who can help you get comparison quotes.

• American Family Insurance – Vicki Wagener Agency LLC
  1633 Thierer Rd – Madison, WI 53704 – (608) 249-2184 – View Map
• Steve Aune Agency, Inc. American Family Insurance
  658 S Gammon Rd #202 – Madison, WI 53719 – (608) 274-9702 – View Map
• Cheng Vang – State Farm Insurance Agent
  2110 N Sherman Ave – Madison, WI 53704 – (608) 661-5700 – View Map

View more Madison agents

Independent Agencies or Brokers

Agents in the independent channel are normally appointed by many insurers and that gives them the ability to insure through lots of different companies and find the cheapest car insurance rates. If your agent finds better pricing, they can switch companies in-house and you won’t have to switch agencies.

If you are trying to find cheaper rates, we highly recommend that you compare prices from several independent agencies to get the best comparison. They also have the ability to place coverage with small regional insurance companies that may have much lower rates than larger companies.

Below is a list of independent insurance agencies in Madison willing to provide price quotes.

• Wisconsin Insurance Security Fund
  2820 Walton Cmns W # 135 – Madison, WI 53718 – (608) 242-9473 – View Map
• Abacus-Bertz Financial
  6417 Odana Rd Suite 13 – Madison, WI 53719 – (608) 238-5800 – View Map
• Stainbrook Agency
  2810 Crossroads Dr #4000 – Madison, WI 53718 – (608) 535-9291 – View Map

View more Madison agents

Auto insurance coverages and their meanings

Having a good grasp of your policy can be of help when determining appropriate coverage and the correct deductibles and limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Comprehensive or Other Than Collision

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like hitting a bird, vandalism, fire damage, a broken windshield and a tree branch falling on your vehicle. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Coverage for collisions

Collision coverage covers damage to your Camaro resulting from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as backing into a parked car, hitting a parking meter, crashing into a ditch, colliding with another moving vehicle and driving through your garage door. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to bump up the deductible on your Camaro in order to get cheaper collision rates.

UM/UIM Coverage

Your UM/UIM coverage gives you protection when the “other guys” either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people have only the minimum liability required by law (25/50/10 in Wisconsin), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Medical costs insurance

Medical payments and Personal Injury Protection insurance pay for expenses like ambulance fees, prosthetic devices, pain medications, surgery and funeral costs. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. PIP is not universally available but can be used in place of medical payments coverage

Auto liability

Liability coverage protects you from injuries or damage you cause to people or other property by causing an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/10 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.

Liability insurance covers things such as pain and suffering, medical services, funeral expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as large an amount as possible. Wisconsin requires drivers to carry at least 25/50/10 but you should think about purchasing more coverage.

The chart below shows why the minimum limit may not be adequate coverage.

Cheap car insurance premiums are out there

We just covered quite a bit of information on how to get a better price on Chevy Camaro insurance in Madison. The key concept to understand is the more providers you compare, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest priced car insurance comes from a small mutual company.

The cheapest Chevy Camaro insurance in Madison is attainable on the web in addition to many Madison insurance agents, and you need to comparison shop both to get a complete price analysis. A few companies may not offer internet price quotes and these small insurance companies work with local independent agents.

When you buy Madison auto insurance online, you should never sacrifice coverage to reduce premiums. In too many instances, an insured dropped uninsured motorist or liability limits only to discover later that they should have had better coverage. Your goal should be to purchase plenty of coverage at an affordable rate but still have enough coverage for asset protection.

For more information, feel free to visit these articles:

• Think You’re a Safe Driver? (State Farm)
• Who Has Cheap Auto Insurance for Drivers with Accidents in Madison? (FAQ)
• What Auto Insurance is Cheapest for a Hyundai Elantra in Madison? (FAQ)
• Parking Tips to Reduce Door Dings (State Farm)
• Frontal Crash Tests (iihs.org)