A recent NerdWallet.com study revealed that a large majority of insurance policyholders renewed their policy with the same company for at least the last four years, and almost 40% of drivers have never shopped around. The average driver in Wisconsin can save hundreds of dollars each year just by shopping around, but they underestimate the actual amount they would save if they switched to a more affordable policy.
It takes a few minutes, but the best way to save money on car insurance rates is to regularly compare price quotes from insurers who provide auto insurance in Madison.
Step 1: It will benefit you to learn about coverages and the measures you can control to prevent rate increases. Many rating factors that are responsible for high rates like traffic citations, accidents, and poor credit history can be remedied by making minor driving habit or lifestyle changes.
Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from a single company like GEICO and Allstate, while independent agents can give you price quotes from many different companies. View insurance agents
Step 3: Compare the new quotes to your existing rates to determine if you can save on Accord insurance. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Notify your company or agent to cancel your current auto insurance policy and submit payment and a completed application to the new company. Be sure to place your new proof of insurance paperwork somewhere easily accessible.
One thing to remember is to use the same deductibles and limits on each price quote and to quote with as many auto insurance providers as possible. Doing this provides the most accurate price comparison and the best price selection.
All the larger insurance companies provide pricing on the web. Getting online quotes for Honda Accord insurance in Madison doesn’t take much effort as you just enter your personal and coverage information as requested by the quote form. Once entered, their system will obtain information on your driving record and credit history and returns a price based on the data you entered.
Being able to quote online for Honda Accord insurance in Madison helps simplify price comparisons, and it’s necessary to have as many quotes as possible in order to get cheap prices.
To compare rates now, consider comparing rates from the companies shown below. If you have your current policy handy, we recommend you complete the form with the coverages as close as possible to your current policy. This way, you will have comparison quotes for similar insurance coverage.
The auto insurance companies shown below are ready to provide quotes in Madison, WI. To locate the best cheap auto insurance in Madison, we recommend you visit several of them in order to get a fair rate comparison.
Insurance coverage details
The premium table shown next highlights detailed analysis of insurance rates for Honda Accord models. Having insight into how auto insurance policy rates are calculated can be valuable when making smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accord LX 4-Dr Sedan | $140 | $226 | $202 | $12 | $60 | $640 | $53 |
| Accord EX 4-Dr Sedan | $140 | $226 | $202 | $12 | $60 | $640 | $53 |
| Accord LX-P 4-Dr Sedan | $140 | $226 | $202 | $12 | $60 | $640 | $53 |
| Accord EX-L 4-Dr Sedan | $162 | $276 | $202 | $12 | $60 | $712 | $59 |
| Accord EX 2-Dr Coupe | $162 | $324 | $268 | $16 | $80 | $850 | $71 |
| Accord LX-S 2-Dr Coupe | $162 | $324 | $268 | $16 | $80 | $850 | $71 |
| Accord EX-L 2-Dr Coupe | $182 | $324 | $268 | $16 | $80 | $870 | $73 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Table data does not factor in the specific area where the vehicle is garaged which can alter rates significantly.
Policy deductibles
One of the most common insurance questions is the level to set your comp and collision deductibles. The rates below outline the rate difference when you choose different comp and collision deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second set of prices uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accord LX 4-Dr Sedan | $154 | $246 | $196 | $12 | $58 | $691 | $58 |
| Accord EX 4-Dr Sedan | $154 | $246 | $196 | $12 | $58 | $691 | $58 |
| Accord LX-P 4-Dr Sedan | $154 | $246 | $196 | $12 | $58 | $691 | $58 |
| Accord EX-L 4-Dr Sedan | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Accord EX 2-Dr Coupe | $178 | $352 | $260 | $16 | $78 | $909 | $76 |
| Accord LX-S 2-Dr Coupe | $178 | $352 | $260 | $16 | $78 | $909 | $76 |
| Accord EX-L 2-Dr Coupe | $200 | $352 | $260 | $16 | $78 | $931 | $78 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accord LX 4-Dr Sedan | $96 | $154 | $196 | $12 | $58 | $516 | $43 |
| Accord EX 4-Dr Sedan | $96 | $154 | $196 | $12 | $58 | $516 | $43 |
| Accord LX-P 4-Dr Sedan | $96 | $154 | $196 | $12 | $58 | $516 | $43 |
| Accord EX-L 4-Dr Sedan | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Accord EX 2-Dr Coupe | $110 | $222 | $260 | $16 | $78 | $686 | $57 |
| Accord LX-S 2-Dr Coupe | $110 | $222 | $260 | $16 | $78 | $686 | $57 |
| Accord EX-L 2-Dr Coupe | $124 | $222 | $260 | $16 | $78 | $700 | $58 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Information does not factor in specific garaging location which can modify rates significantly.
Using the data above, we can ascertain that using a $250 deductible costs approximately $17 more each month or $204 for a full year across all Honda Accord models than quoting the higher $1,000 deductible. Since you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you average more than 44 months between claims, you would probably save some money if you choose the higher deductible.
Does full coverage make sense?
The chart below shows the comparison of Honda Accord insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no claims or violations, $250 deductibles, single status, and no other discounts are factored in.
Are you wasting money on full coverage?
There is no set guideline to stop paying for physical damage coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Honda Accord replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after the policy deductible has been paid. If it’s costing in excess of $200 a year for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few cases where dropping full coverage is not advised. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
When in doubt talk to an agent
When it comes to buying insurance from an agent or online, there isn’t really a “perfect” insurance plan. Your situation is unique.
For instance, these questions can aid in determining if you would benefit from professional advice.
- When would I need rental car insurance?
- Why am I required to buy liability insurance?
- Do I have coverage if I rent a car in Mexico?
- What is the difference between personal and commercial auto insurance policies?
- Do I really need UM/UIM coverage?
- What if a claim settlement is too low?
- Does coverage extend to a rental car in a foreign country?
- Is upholstery damage covered by car insurance?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an agent. To find an agent in your area, complete this form. It only takes a few minutes and can provide invaluable advice.
Local Madison insurance agencies
Many people just want to get professional advice from a licensed agent and that can be a smart move Insurance agents can point out coverage gaps and help you file claims. The biggest benefit of comparing rates online is that you can find cheap auto insurance quotes but still work with a licensed agent. And supporting small agencies is still important in Madison.
After completing this short form, the quote information is instantly submitted to agents in your area who will gladly provide quotes for your insurance coverage. You won’t even need to do any legwork because prices are sent to you directly. If you want to compare prices from a specific auto insurance provider, feel free to visit that company’s website and submit a quote form there.
Pick the best car insurance agent in Madison for you
If you are searching for a reliable insurance agency, there are a couple of types of insurance agents to choose from. Auto insurance policy providers may be either exclusive or independent. Either can insure your vehicles properly, but we need to point out the difference between them because it can impact buying decisions.
Independent Agents (or Brokers)
Agents of this type do not have single company limitations and that enables them to quote your coverage with many different companies and find the cheapest auto insurance rates. If they quote lower rates, your agent can switch companies and you stay with the same agent.
If you are comparing auto insurance prices, it’s a good idea to contact at a minimum one independent agency so that you have a good selection of quotes to compare. Many independent agencies also insure through smaller regional carriers that may provide cheaper auto insurance rates.
Below is a partial list of independent insurance agencies in Madison who can help you get free price quotes.
- Johnson Insurance
525 Junction Rd #2000 – Madison, WI 53717 – (608) 203-3880 – View Map - Neckerman Insurance Services
6200 Mineral Point Rd – Madison, WI 53705 – (608) 238-2686 – View Map - Abacus-Bertz Financial
6417 Odana Rd Suite 13 – Madison, WI 53719 – (608) 238-5800 – View Map
Exclusive Agencies
Agents that choose to be exclusive can only place business with one company such as State Farm or Allstate. They usually cannot compare other company’s rates so keep that in mind. Exclusive agents are well trained on what they offer which helps them sell insurance even at higher premiums. Consumers sometimes purchase coverage from exclusives mostly because of the prominent brand name and the convenience of having all coverages with one company.
Listed below are exclusive agents in Madison that can give you comparison quotes.
- American Family Insurance – Ed Flynn
514 Grand Canyon Dr – Madison, WI 53719 – (608) 833-1717 – View Map - American Family Insurance – Leah Salter
5025 Old Middleton Rd – Madison, WI 53705 – (608) 273-8555 – View Map - American Family Insurance – Vicki Wagener Agency LLC
1633 Thierer Rd – Madison, WI 53704 – (608) 249-2184 – View Map
Finding the right insurance agent shouldn’t rely on just a cheap quote. Any agent in Madison should be forthright in answering these questions:
- Is vehicle damage repaired with OEM or aftermarket parts?
- How much can you save by raising your physical damage deductibles?
- Do they offer rental car reimbursement?
- Will you work with the agent or an assistant?
- How long have they been in business?