Shopping around for affordable car insurance is not always easy, and finding out which company has the cheapest car insurance rates for low mileage drivers will involve a bit more work. Every insurance provider uses a little different formula to set premium rates, so we’ll take a look at the lowest cost car insurance companies in Wisconsin.
Cheap Insurance Rates in Wisconsin
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $580 |
| 2 | Partners Mutual | $614 |
| 3 | Erie | $717 |
| 4 | Rockford Mutual | $732 |
| 5 | Nationwide | $745 |
| 6 | Rural Mutual Insurance | $756 |
| 7 | Pekin Insurance | $768 |
| 8 | Western National | $793 |
| 9 | Integrity Mutual | $794 |
| 10 | Travelers | $804 |
| 11 | West Bend Mutual | $890 |
| 12 | The Hartford | $922 |
| 13 | State Farm | $932 |
| 14 | General Casualty | $936 |
| 15 | Auto Club Group | $968 |
| 16 | Auto-Owners | $1,126 |
| 17 | Progressive | $1,164 |
| 18 | Farmers | $1,165 |
| 19 | American Family | $1,171 |
| 20 | GEICO | $1,226 |
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USAA offers some of the most affordable car insurance rates in Madison at around $580 annually. This is $581 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide also rank well as some of the most economical Madison, WI insurance companies.
As illustrated above, if you currently have a policy with Rockford Mutual and switched to USAA, you could earn an annual premium reduction of about $152. Wisconsin drivers with Nationwide might save as much as $165 a year, and Rural Mutual Insurance insureds might reduce prices by as much as $176 a year.
To see if you’re overpaying, click here to begin a quote or click several companies below for low rates.
Bear in mind that those premiums are averages across all drivers and vehicles and are not factoring in a specific location for low mileage drivers. So the auto insurance company that fits your situation best may not even be in the top 30 companies shown above. That points out the importance of why you need to get car insurance quotes using your own specific driver information and vehicle.
The make and model of vehicle requiring insurance is one of the largest factors when trying to find affordable auto insurance for low mileage drivers. Vehicles with reasonable performance levels, good crash test ratings, or a track record of few liability claims will cost less to insure than adrenaline junky models. The information below estimates insurance premiums for the most cost-effective automobiles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $1,066 |
| Toyota Prius | $1,156 |
| Ford Escape XLT 2WD | $1,179 |
| Toyota Tacoma 2WD | $1,211 |
| Jeep Grand Cherokee Laredo 2WD | $1,234 |
| Hyundai Elantra SE Touring Station Wagon | $1,244 |
| Ford F-150 STX Super Cab 2WD | $1,253 |
| Ford Fusion SE 4-Dr Sedan | $1,324 |
| Chevrolet Impala LS | $1,326 |
| Nissan Rogue S 2WD | $1,334 |
| Ford Edge SEL AWD | $1,326 |
| Ford Explorer XLT 2WD | $1,329 |
| Toyota Camry LE | $1,354 |
| Toyota RAV4 4WD | $1,362 |
| Honda Odyssey EX W/Rear Entertainment | $1,361 |
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Prices do not factor in specific garaging location which can impact premium rates greatly.
Based upon these rates, cars like the Honda CR-V, Toyota Prius, Ford Escape, and Toyota Tacoma are most likely going to be the more affordable vehicles to insure for infrequent drivers.
For infrequent drivers, one of the more important criteria that are looked at to determine auto insurance rates is where your residence is. Areas with more people or higher crime rates are more likely to pay higher prices, whereas less populated areas have the benefit of cheaper auto insurance prices.
The next table rates the highest-priced areas in Wisconsin for low mileage drivers to buy car insurance in. Madison ranks #11 with a yearly cost of $1,072 for coverage, which is approximately $89 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Milwaukee | $1,368 |
| 2 | Wauwatosa | $1,319 |
| 3 | Kenosha | $1,230 |
| 4 | Racine | $1,217 |
| 5 | West Allis | $1,210 |
| 6 | Oak Creek | $1,202 |
| 7 | Greenfield | $1,156 |
| 8 | Beloit | $1,130 |
| 9 | Franklin | $1,129 |
| 10 | Brookfield | $1,077 |
| 11 | Madison | $1,072 |
| 12 | New Berlin | $1,060 |
| 13 | Eau Claire | $1,059 |
| 14 | Wausau | $1,047 |
| 15 | Menomonee Falls | $1,037 |
| 16 | Waukesha | $1,023 |
| 17 | Janesville | $1,022 |
| 18 | La Crosse | $1,022 |
| 19 | Fond du Lac | $995 |
| 20 | West Bend | $977 |
| 21 | Appleton | $964 |
| 22 | Green Bay | $960 |
| 23 | Oshkosh | $960 |
| 24 | Manitowoc | $957 |
| 25 | Sheboygan | $925 |
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Premium costs are comparative as zip code location can affect premiums significantly.
The diagram below shows how choosing a deductible can raise or lower insurance premiums when getting quotes for cheap insurance for low mileage drivers. The rates are based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 40-year-old driver could cut expenses by $182 a year by increasing from a $100 deductible to a $500 deductible, or save $276 by changing to a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could roll back prices $462 annually by using a higher deductible.
When raising deductibles, it is essential to have emergency funds available to satisfy the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Full coverage versus liability only rates
Paying less for car insurance is probably important to the majority of vehicle owners, and one of the fastest ways to pay less for insurance for low mileage drivers is to not pay for full coverage. The chart below shows the difference between annual premium costs with full coverage and liability only. The rate quotes are based on no accidents or driving violations, $100 deductibles, single marital status, and no discounts are applied.
Averaged for all ages 20 through 70, full coverage costs an additional $1,804 per year over and above liability coverage. Many of you may wonder when is the right time to remove full coverage. There isn’t a steadfast formula to drop comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
How to get discounts on Madison insurance
Auto insurance companies that offer coverage for low mileage drivers could also offer price discounts that may potentially lower prices by 40% or more if you qualify for them. Popular car insurance companies and a summarized list of policyholder discounts are detailed below.
- American Family offers discounts including bundled insurance, defensive driver, early bird, good driver, good student, multi-vehicle, and air bags.
- Nationwide has savings for easy pay, anti-theft, accident-free, multi-policy, good student, and defensive driving.
- MetLife may offer discounts for good driver, accident-free, multi-policy, defensive driver, good student, and claim-free.
- 21st Century offers discounts for defensive driver, homeowners, teen driver, automatic seat belts, and good student.
- Farmers Insurance policyholders can earn discounts including early shopping, multi-car, pay in full, homeowner, teen driver, mature driver, and bundle discounts.
- Allstate discounts include economy car, resident student, teenSMART discount, auto/life discount, anti-theft, and good student.
The chart below shows the comparison of yearly insurance costs with and without discounts applied to the premium. The information is based on a female driver, no claims, a clean driving record, Wisconsin state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple policy, safe-driver, anti-theft, homeowner, vehicle safety, and accident-free discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on car insurance for low mileage drivers is 27% or $344.