Shocking but true, the vast majority of car insurance customers kept buying from the same company for well over three years, and nearly the majority have never compared car insurance rates at all. Madison drivers could save themselves $373 a year just by getting comparison quotes, but they think it’s difficult to compare rates and save money.
The most effective way to save money on auto insurance rates is to compare prices at least once a year from providers who provide auto insurance in Madison. Rate comparisons can be done by completing these steps.
First, take a little time to learn about how car insurance works and the changes you can make to keep rates low. Many policy risk factors that cause high rates such as high-risk driving behaviors and poor credit history can be controlled by being financially responsible and driving safely. Keep reading for additional tips to get affordable coverage and get bigger discounts.
Second, quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from one company like Progressive or Farmers Insurance, while agents who are independent can quote rates for many different companies.
Third, compare the price quotes to your current policy premium to determine if switching companies saves money. If you find a better price, make sure there is no coverage gap between policies.
One key aspect when comparing rates is to use the same deductibles and limits on every quote request and to quote with as many companies as you can. This enables an apples-to-apples comparison and a better comparison of the market.
These discounts can slash Mitsubishi Outlander insurance rates
Car insurance is not cheap nor is it fun to buy but there may be some discounts that could drop your premiums quite a bit. Many discounts should be triggered at the time of quoting, but a few need to be specially asked for before they will apply. If you check and find you aren’t receiving every discount you deserve, you are throwing money away.
- Employee of Federal Government – Active or retired federal employment could qualify for a slight premium decrease with select insurance companies.
- Save with More Vehicles Insured – Purchasing coverage when you have multiple cars or trucks with the same company may reduce the rate for each vehicle.
- Auto/Home Discount – When you have multiple policies with the same company you may earn at least 10% off all policies.
- 55 and Retired – Mature drivers may qualify for reduced rates.
- Life Insurance – Select car insurance companies reward you with a lower price if you buy some life insurance too.
- Military Discounts – Being deployed in the military could be rewarded with lower car insurance rates.
- Telematics Discount – Drivers that enable their insurance company to analyze driving habits by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm may see discounts if they show good driving skills.
As a sidenote, most credits do not apply to the entire policy premium. Most cut the price of certain insurance coverages like comp or med pay. If you do the math and it seems like adding up those discounts means a free policy, that’s just not realistic.
The illustration below illustrates the comparison of Mitsubishi Outlander car insurance costs with and without discounts applied. The prices are based on a male driver, a clean driving record, no at-fault accidents, 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 shows the rates with multi-policy, safe-driver, claim-free, homeowner, multi-car, and marriage discounts applied.
Some companies who might offer these discounts include:
Double check with every company how many discounts you can get. Discounts might not be offered on policies in your area.
Getting a cheaper price on Mitsubishi Outlander insurance can be surprisingly simple. The only requirement is to invest a little time comparing free Madison car insurance quotes provided by online insurance companies.
The companies in the list below can provide price quotes in Wisconsin. If your goal is to find cheap auto insurance in Madison, it’s highly recommended you compare several of them to get a more complete price comparison.
Rate information and statistics
The data table displayed below outlines a range of insurance coverage prices for Mitsubishi Outlander models. Having a better understanding of how insurance prices are established can help drivers make informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Outlander ES 2WD | $198 | $358 | $196 | $12 | $58 | $822 | $69 |
| Outlander SE 4WD | $198 | $358 | $196 | $12 | $58 | $822 | $69 |
| Outlander SE 4WD | $198 | $358 | $196 | $12 | $58 | $822 | $69 |
| Outlander SE 2WD | $198 | $358 | $196 | $12 | $58 | $822 | $69 |
| Outlander SE 2WD | $198 | $358 | $196 | $12 | $58 | $822 | $69 |
| Outlander ES 4WD | $198 | $358 | $196 | $12 | $58 | $822 | $69 |
| Outlander XLS 2WD | $224 | $422 | $196 | $12 | $58 | $912 | $76 |
| Outlander XLS 4WD | $224 | $422 | $196 | $12 | $58 | $912 | $76 |
| Outlander GT-S AWC 4WD | $224 | $422 | $196 | $12 | $58 | $912 | $76 |
| Outlander GT-S AWC 4WD | $224 | $422 | $196 | $12 | $58 | $912 | $76 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Estimates do not factor in vehicle garaging location which can affect prices significantly.
Deductible analysis
One common question asked by Madison drivers is the level to set your comp and collision deductibles. The rates below may aid in understanding the cost difference between high and low insurance deductibles. The first pricing table uses a $250 deductible for comp and collision and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Outlander ES 2WD | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Outlander SE 4WD | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Outlander SE 4WD | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Outlander SE 2WD | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Outlander SE 2WD | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Outlander ES 4WD | $178 | $300 | $196 | $12 | $58 | $769 | $64 |
| Outlander XLS 2WD | $200 | $352 | $196 | $12 | $58 | $843 | $70 |
| Outlander XLS 4WD | $200 | $352 | $196 | $12 | $58 | $843 | $70 |
| Outlander GT-S AWC 4WD | $200 | $352 | $196 | $12 | $58 | $843 | $70 |
| Outlander GT-S AWC 4WD | $200 | $352 | $196 | $12 | $58 | $843 | $70 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Outlander ES 2WD | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Outlander SE 4WD | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Outlander SE 4WD | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Outlander SE 2WD | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Outlander SE 2WD | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Outlander ES 4WD | $110 | $188 | $196 | $12 | $58 | $564 | $47 |
| Outlander XLS 2WD | $124 | $222 | $196 | $12 | $58 | $612 | $51 |
| Outlander XLS 4WD | $124 | $222 | $196 | $12 | $58 | $612 | $51 |
| Outlander GT-S AWC 4WD | $124 | $222 | $196 | $12 | $58 | $612 | $51 |
| Outlander GT-S AWC 4WD | $124 | $222 | $196 | $12 | $58 | $612 | $51 |
| 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 multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Premium amounts do not factor in Madison location which can impact premium rates greatly.
We can estimate from the data above that using a $250 deductible will cost in the ballpark of $17 more each month or $204 a year across all Mitsubishi Outlander models than quoting the higher $1,000 deductible. Since you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you go at a minimum 44 months between claims, you would probably be better off if you elect the higher deductible.
Yearly car insurance costs for men versus women
The illustration below illustrates the difference between Mitsubishi Outlander auto insurance rates for male and female drivers. The premium estimates are based on a clean driving record, no claims, comp and collision included, $500 deductibles, marital status is single, and no discounts are applied.
Rate difference between full and liability-only coverage
The example below visualizes the comparison of Mitsubishi Outlander insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Wisconsin. The rates are based on no violations or claims, $100 deductibles, single status, and no discounts are applied to the premium.
Are you wasting money paying for full coverage?
There is no specific rule that is best for determining when to drop physical damage coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s say your Mitsubishi Outlander book value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $5,000 after paying your policy deductible. If premiums are more than $500 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some situations where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
Four Tips to Get Cheaper Madison Insurance Rates
Many different elements are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious such as your driving history, although others are less obvious such as whether you are married and annual miles driven.
The items below are a partial list of the pieces that factor into your premiums.
Careless drivers pay higher costs – Having just one driving citation may cause rates to rise by as much as thirty percent. Careful drivers get better rates as compared to those with violations. Drivers who have license-revoking tickets such as DWI, reckless driving or hit and run convictions may find that they have to to submit a SR-22 form with their state DMV in order to prevent their license from being revoked.
The diagram below illustrates how speeding tickets and accidents can increase Mitsubishi Outlander premium costs for each age group. The costs are based on a married male driver, full coverage, $100 deductibles, and no additional discounts are factored in.
Rates can be impacted by your job – Occupations such as lawyers, executives, and financial analysts generally have higher rates than average due to intense work-related stress and incredibly demanding work hours. Conversely, jobs such as scientists, athletes and homemakers pay the least.
Liability coverage is important – The liability coverage on your policy is the protection if you are found to be at fault for damages from an accident. Your liability coverage provides legal defense coverage which can cost a lot. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so drivers should make sure they buy enough to cover all assets.
Raise coverage deductibles and save – Deductibles for physical damage define the amount you are willing to pay before a claim is paid by your company. Physical damage protection, aka comp and collision, covers damage that occurs to your car. Examples of some claims that would be covered are collision with another vehicle, hail damage, and damage caused by road hazards. The more you have to pay, the less money you will pay for car insurance.
Loss statistics for a Mitsubishi Outlander – Auto insurance companies analyze historical claim data when setting premium rates. Vehicles that tend to have higher claim frequency or loss amount will have a higher cost to insure.
The data below shows the collected loss data for Mitsubishi Outlander vehicles. For each policy coverage, the loss probability for all vehicles, as an average, is a value of 100. Values that are under 100 suggest losses that are better than average, while percentage values above 100 indicate more frequent claims or an increased chance of a larger loss.
| Specific Mitsubishi Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Mitsubishi Outlander 4dr 2WD | 117 | 104 | 119 | 155 | ||
| Mitsubishi Outlander 4dr 4WD | 116 | 93 | 140 | 115 | ||
| Mitsubishi Outlander Sport 4dr 2WD | 116 | 121 | 99 | 165 | 146 | 129 |
| Mitsubishi Outlander Sport 4dr 4WD | 109 | 118 | 123 | 124 | 139 | 112 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
When should I discuss my situation with an agent?
When quoting and comparing the best auto insurance coverage for your personal vehicles, there really is not a one-size-fits-all type of policy. Everyone’s situation is a little different.
For instance, these questions can help discover if your situation might need an agent’s assistance.
- Does my policy cover me when driving someone else’s vehicle?
- If my car is totaled with they pay enough to replace it?
- Is my Mitsubishi Outlander covered for flood damage?
- What if an uninsured driver hits me?
- Will I be non-renewed for getting a DUI or other conviction?
- What is no-fault insurance?
- Which is better, split liability limits or combined limits?
- Which companies will insure me after a DUI?
If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It is quick, free and you can get the answers you need.
Can’t I get rate quotes from local Madison car insurance agents?
Some people prefer to buy from a licensed agent and there is nothing wrong with that. Professional insurance agents can make sure you are properly covered and help file insurance claims. A nice benefit of comparing car insurance online is you may find lower rates and still have a local agent. Buying from local agencies is definitely important in Madison.
By using this simple form, your information is immediately sent to companies in Madison that can provide free Madison car insurance quotes for your insurance coverage. There is no reason to contact an agency since rate quotes are delivered immediately to your email address. If you have a need to get a price quote from a particular provider, just visit that company’s website to submit a rate quote request.
Not all auto insurance agents are the same
If you would like to find an insurance agent, there are a couple of different types of agencies that differ in how they can insure your vehicles. Agencies in Madison are considered either independent or exclusive. Both can write car insurance policies, but it’s good to learn the subtle differences since it could factor into buying decisions.
Independent Agents (or Brokers)
These type of agents are not restricted to one company so they can insure your vehicles through many companies and help determine which has the cheapest rates. If your premiums go up, your agent can just switch to a different company and you can keep the same agent.
If you need cheaper car insurance rates, you will definitely want to get insurance quotes from several independent agencies to get the best comparison. They often place coverage with smaller companies that can offer cheaper rates than bigger companies.
Listed below is a short list of independent agents in Madison who may provide free rate quotes.
- Homewood Insurance Agency
583 D’onofrio Dr Ste. 1012 – Madison, WI 53719 – (608) 442-6666 – View Map - Wisconsin Insurance Security Fund
2820 Walton Cmns W # 135 – Madison, WI 53718 – (608) 242-9473 – View Map - Hausmann Johnson Insurance
700 Regent St – Madison, WI 53715 – (608) 257-3795 – View Map
Exclusive Agents
These type of agents normally can only provide a single company’s rates like Farmers Insurance and State Farm. These agents are not able to shop your coverage around so you might not find the best rates. Exclusive agencies are very knowledgeable on their company’s products which helps overcome the inability to quote other rates. Drivers often buy from exclusive agents partially due to the brand legacy instead of buying on price only.
The following is a short list of exclusive agencies in Madison that are able to give rate quotes.
- American Family Insurance – Yolanda Grajales-Sutter
7878 Big Sky Dr Ste I – Madison, WI 53719 – (608) 826-4518 – View Map - Aaron Perry – State Farm Insurance Agent
2605 Monroe St – Madison, WI 53711 – (608) 238-7107 – View Map - American Family Insurance – Daniel Piazza
2601 Crossroads Dr Ste 100 – Madison, WI 53718 – (608) 241-9000 – View Map
Choosing an car insurance agent should depend on more than just a cheap price quote. The questions below may impact your decision as well.
- Are there any discounts for paying up front?
- Will the company cover a rental car if your car is getting fixed?
- Is vehicle damage repaired with OEM or aftermarket parts?
- How does the company pay claims for a total loss?
- Are they giving you every discount you deserve?
- How are they compensated?
- Will one accident increase rates?
After you get positive feedback to all your questions and an acceptable price quote, it’s possible that you found an auto insurance agent that meets the criteria to service your policy. But remember, you are able to cancel your coverage any time you want so don’t feel you’re contractually obligated to the car insurance policy for the full term.
Why you need insurance for your Outlander
Despite the high insurance cost for a Mitsubishi Outlander in Madison, insuring your vehicle serves several important purposes.
- Just about all states have minimum mandated liability insurance limits which means you are required to carry a specific minimum amount of liability insurance in order to be legal. 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 vehicle has a lienholder, it’s guaranteed your bank will stipulate that you have comprehensive coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Mitsubishi at a much higher rate and force you to pay for the much more expensive policy.
- Insurance protects both your Mitsubishi Outlander and your personal assets. Insurance will pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If you have damage to your Mitsubishi as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance are without a doubt worth the cost, especially when you need to use it. In a recent study of 1,000 drivers, the average customer is overpaying over $825 a year so compare rates at every policy renewal to make sure the price is not too high.
In conclusion
People who switch companies do it for many reasons like extreme rates for teen drivers, an unsatisfactory settlement offer, policy non-renewal and even high rates after DUI convictions. Regardless of your reason, choosing a new company can be less work than you think.
Low-cost Mitsubishi Outlander insurance in Madison can be found from both online companies in addition to local insurance agencies, and you need to price shop both to have the best rate selection. Some insurance companies may not offer online price quotes and most of the time these regional insurance providers only sell coverage through independent agents.
Throughout this article, we presented a lot of information how to get a better price on Mitsubishi Outlander insurance in Madison. The key thing to remember is the more times you quote, the better your comparison will be. You may even discover the best car insurance rates are with the smaller companies.
Additional detailed information is available in these articles:
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- How Much are Car Insurance Rates for a Ford Escape in Madison? (FAQ)
- Who Has Affordable Auto Insurance for Teenage Males in Madison? (FAQ)
- What Insurance is Cheapest for a Chevrolet Traverse in Madison? (FAQ)
- Who Has Affordable Auto Insurance Rates for Uninsured Drivers in Madison? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Vehicle Insurance (Wikipedia)
- State Car Insurance Guides (GEICO)