Find Affordable Nissan Altima Insurance in Madison

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Nissan Altima insurance policy
Nissan Altima insurance policy image courtesy of QuoteInspector.com

If your goal is the lowest price, then the best way to find more affordable auto insurance rates in Madison is to compare quotes once a year from providers who sell insurance in Wisconsin.

  • First, try to learn about how car insurance works and the changes you can make to keep rates in check. Many rating criteria that cause rate increases like at-fault accidents and a substandard credit score can be remedied by making minor driving habit or lifestyle changes. Keep reading for more details to prevent high prices and find discounts that may have been missed.
  • Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from one company like GEICO and Allstate, while agents who are independent can provide prices for many different companies.
  • Third, compare the quotes to the price on your current policy to see if you can save by switching companies. If you can save money, ensure there is no coverage lapse between policies.
  • Fourth, tell your current company of your intention to cancel the current policy and submit the required down payment along with the signed application to your new company or agent. When you receive it, keep the new proof of insurance certificate in an accessible location in your vehicle.

A key point to remember is to try to use identical coverages on each price quote and and to compare as many different companies as possible. Doing this provides a fair rate comparison and the best price quote selection.

Insurance for Nissan AltimaAnyone knows that insurance companies want to keep you from comparing rates. Insureds who shop around for cheaper price quotes are inclined to buy a different policy because there is a good chance of finding a lower-priced policy. A recent survey found that people who compared rates regularly saved on average $865 annually compared to drivers who never shopped around for better prices.

If finding low prices for Nissan Altima insurance is your goal, then understanding the best way to compare insurance can save time, money, and frustration.

The companies in the list below offer comparison quotes in Wisconsin. If multiple companies are listed, we suggest you visit two to three different companies to get the best price comparison.

Nissan Altima insurance rates and statistics

The premium information displayed next covers a range of insurance prices for Nissan Altima models. Having a better idea how rates are established is important for making informed decisions when shopping around for a new policy.

Nissan Altima Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $154 $304 $220 $14 $66 $758 $63
Altima 2.5 S 4-Dr Sedan $154 $358 $220 $14 $66 $812 $68
Altima Hybrid 4-Dr Sedan $174 $358 $220 $14 $66 $832 $69
Altima 2.5 S 2-Dr Coupe $174 $358 $250 $14 $74 $870 $73
Altima 3.5 SR 4-Dr Sedan $174 $358 $220 $14 $66 $832 $69
Altima 3.5 SR 2-Dr Coupe $174 $412 $250 $14 $74 $924 $77
Get Your Own Custom Quote Go

Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Price estimates do not factor in specific location information which can alter prices noticeably.

Raise deductibles and save

The hardest decision when buying coverage is how low should you set your deductibles. The following tables approximate the rate differences when you select higher and lower insurance deductibles. The first pricing table uses a $250 physical damage deductible and the second price table uses a $1,000 deductible.

Nissan Altima insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $178 $300 $230 $14 $68 $815 $68
Altima 2.5 S 4-Dr Sedan $178 $352 $230 $14 $68 $867 $72
Altima Hybrid 4-Dr Sedan $200 $352 $230 $14 $68 $889 $74
Altima 2.5 S 2-Dr Coupe $200 $352 $260 $16 $78 $931 $78
Altima 3.5 SR 4-Dr Sedan $200 $352 $230 $14 $68 $889 $74
Altima 3.5 SR 2-Dr Coupe $200 $406 $260 $16 $78 $985 $82
Get Your Own Custom Quote Go
Nissan Altima insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $110 $188 $230 $14 $68 $610 $51
Altima 2.5 S 4-Dr Sedan $110 $222 $230 $14 $68 $644 $54
Altima Hybrid 4-Dr Sedan $124 $222 $230 $14 $68 $658 $55
Altima 2.5 S 2-Dr Coupe $124 $222 $260 $16 $78 $700 $58
Altima 3.5 SR 4-Dr Sedan $124 $222 $230 $14 $68 $658 $55
Altima 3.5 SR 2-Dr Coupe $124 $256 $260 $16 $78 $734 $61
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Table data does not factor in your specific Madison location which can alter price quotes noticeably.

Based on this data, using a $250 deductible costs approximately $19 more each month or $228 annually than opting for the higher $1,000 deductible. Because you would pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you go more than 39 months between claims, you would probably save some money by going with a higher deductible. Here's a better example of how this calculation is made.

Average monthly premium for $250 deductibles: $75
Average monthly premium for $1,000 deductibles (subtract): - $56
Monthly savings from raising deductible: $19
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 39 months

An important sidenote is that a higher deductible means you will have to cover more of the damage yourself when you have to file a claim. That will necessitate access to more funds in the event you have to pay the higher deductible.

Should you buy full coverage?

The example below shows the difference between Nissan Altima premium costs with full physical damage coverage and with liability coverage only. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no additional discounts are factored in.

Are you wasting money paying for full coverage?

There is no exact formula for eliminating physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let's say your Nissan Altima settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $5,000 after paying your deductible. If it's costing in excess of $500 a year to have full coverage, then you may need to consider dropping full coverage.

There are a few situations where buying only liability insurance is not financially feasible. If you haven't paid off your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.

Here's why insurance is not optional

Despite the high insurance cost for a Nissan Altima in Madison, insuring your vehicle is mandatory in Wisconsin but it also protects more than you think.

  • Almost all states have minimum liability requirements which means the state requires a specific level of liability coverage if you drive a vehicle. 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 you have a lien on your Altima, more than likely the lender will make it mandatory that you have physical damage coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the lender will be forced to insure your Nissan for a much higher rate and require you to fork over for the expensive policy.
  • Insurance protects your Nissan and your assets. It will also pay for all forms of medical expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying enough insurance outweigh the cost, particularly if you ever have a claim. The average driver in Wisconsin is wasting up to $855 a year so you should quote rates at every policy renewal to help ensure money is not being wasted.

Informed Consumers Can Cut Insurance Costs

Multiple criteria are used when you get a price on insurance. Some are obvious like a motor vehicle report, although some other factors are less obvious such as whether you are married or how financially stable you are.

Cut rates and deter theft - Buying a car with a theft deterrent system can get you a discount on your car insurance. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft and help lower rates.

Commute or pleasure use - The more miles you rack up on your Nissan in a year the higher your rate. The majority of insurers rate vehicles based on how the vehicle is used. Cars that have low annual miles receive lower rates than those used for commuting. Ask your agent if your car insurance policy reflects how each vehicle is driven. Having the wrong rating on your Altima is just wasting money.

Teen drivers cost more - Inexperience drivers are proven to be inattentive when at the wheel of a vehicle so car insurance rates are higher. Having to add a first-time driver to your car insurance policy can increase premiums substantially. Older, more experienced drivers are more cautious drivers, statistically cause fewer accidents, and are generally more financially stable.

The data below assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

Stay claim-free and save - If you file claims often, don't be surprised to see increased rates or even have your policy non-renewed. Insurance companies in Wisconsin give most affordable rates to insureds who file claims infrequently. Insurance coverage is meant to be used in the event of claims that pose a financial burden.

High credit score translates to low rates - Your credit score factor in calculating your car insurance rates. Therefore, if your credit history could use some work, you could pay less to insure your Nissan Altima by taking the time to improve your credit score. Consumers who have very high credit ratings tend to be better drivers and file fewer claims than drivers with lower credit ratings.

Loss statistics for a Nissan Altima - Auto insurance companies analyze historical claim data to calculate a rate that offsets possible losses. Models that the data shows to have higher frequency or amount of claims will have a higher cost to insure.

The table below shows the insurance loss data used by companies for Nissan Altima vehicles. For each policy coverage type, the statistical loss for all vehicles combined as an average is equal to 100. Percentage values below 100 suggest losses that are better than average, while percentage values above 100 indicate a higher chance of having a claim or statistically larger claims.

Nissan Altima Insurance Loss Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Nissan Altima 110 97 119 144 147 114
BETTER
AVERAGE
WORSE

Statistics from IIHS.org for 2013-2015 Model Years

Do you qualify for discounts?

The price of auto insurance can be rather high, but there could be significant discounts to help offset the cost. Some discounts will apply at the time of purchase, but occasionally some discounts must be asked about before you will receive the discount.Cheaper auto insurance with discounts

  • Theft Prevention Discount - Cars equipped with anti-theft or alarm systems are stolen less frequently and qualify for as much as a 10% discount.
  • Defensive Driver Discounts - Completing a safe driver course may get you a small discount and easily recoup the cost of the course.
  • Air Bag Discount - Factory air bags or motorized seat belts can receive discounts up to 30%.
  • Discount for Life Insurance - Not all insurance carriers offer life insurance, but some may give you a lower rate if you buy life insurance from them.
  • Seat Belts Save - Drivers who require all occupants to fasten their seat belts can save up to 15% off PIP or medical payments premium.

Keep in mind that many deductions do not apply to your bottom line cost. Most only reduce specific coverage prices like collision or personal injury protection. Just because it seems like adding up those discounts means a free policy, insurance companies wouldn't stay in business. But all discounts will help lower your auto insurance premiums.

The diagram below shows the comparison of Nissan Altima yearly insurance costs with and without discounts. The costs are based on a male driver, no violations or accidents, Wisconsin state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, homeowner, claim-free, and multi-car discounts applied.

A few popular companies and the discounts they provide are detailed below.

  • State Farm may include discounts for Steer Clear safe driver discount, anti-theft, Drive Safe & Save, defensive driving training, multiple policy, and accident-free.
  • Esurance may have discounts that include multi-car, good driver, DriveSense, online quote, paid-in-full, and homeowner.
  • Progressive policyholders can earn discounts including continuous coverage, good student, online signing, online quote discount, and multi-policy.
  • Liberty Mutual has discounts for hybrid vehicle, exclusive group savings, new move discount, newly retired, good student, newly married, and preferred payment discount.
  • Auto-Owners Insurance may offer discounts for multiple vehicles, anti-lock brakes, multi-policy, safe vehicle, and group or association.
  • GEICO discounts include daytime running lights, air bags, anti-lock brakes, federal employee, seat belt use, multi-vehicle, and military active duty.

If you want low cost Madison car insurance quotes, ask every prospective company the best way to save money. Some of the earlier mentioned discounts may not apply in Madison. If you would like to choose from a list of insurers that can offer you the previously mentioned discounts in Wisconsin, click here to view.

Auto insurance agents are professional risk managers

A lot of people just want to talk to a local agent and that is just fine! Good agents can help determine the best coverages and help file insurance claims. A nice benefit of getting online price quotes is that drivers can save money and get cheap auto insurance rates and still have an agent to talk to. Buying from and supporting local agencies is definitely important in Madison.

Insurance agents in MadisonBy using this form (opens in new window), your information gets sent to participating agents in Madison who will gladly provide quotes and help you find cheaper coverage. It simplifies rate comparisons since you won't have to find an agent on your own due to the fact that quote results will go to you instantly. If for some reason you want to get a comparison quote for a specific company, feel free to navigate to their website to submit a rate quote request.

The type of auto insurance agent you choose is important

If you want an insurance agent, it's important to understand the types of agencies and how they can service your needs differently. Agents in Madison are either exclusive agents or independent agents. Both sell and service auto insurance coverage, but it's worth mentioning why they differ because it may have an impact on which agent you choose.

Independent Agencies or Brokers

Independent insurance agents are not limited to a single company so they can write business through lots of different companies depending on which coverage is best. To move your coverage to a new company, your agent can switch companies and you don't have to switch agencies. When comparing auto insurance rates, you need to contact several independent agencies to have the most options to choose from. Most also write with smaller regional carriers which may provide better rates.

Shown below is a short list of independent insurance agencies in Madison who may be able to give you comparison quotes.

More Madison agents

Exclusive Agents

Agents that elect to be exclusive are contracted to one company and examples are Farmers Insurance or State Farm. Exclusive agents are unable to compare other company's rates so you might not find the best rates. Exclusive agencies receive extensive training on the products they sell which helps them sell insurance even at higher premiums. Some people will only buy from exclusive agents partially due to the prominent brand name and the convenience of having all coverages with one company.

Listed below is a list of exclusive agents in Madison that can give you rate quotes.

More Madison agents

Picking an auto insurance agent needs to be determined by more than just the price. Any good agent in Madison should know the answers to these questions.

  • How long have they worked with personal auto insurance coverage?
  • Which insurance company do they prefer to write with?
  • Do they offer rental car reimbursement?
  • What is the financial rating for the quoted company?
  • Does the agent have a valid license to sell insurance in Wisconsin?
  • If you have an accident, will your rates go up?

The best rates come from being thorough

In this article, we presented quite a bit of information on how to get a better price on Nissan Altima insurance in Madison. It's most important to understand that the more providers you compare, the higher your chance of finding the cheapest Nissan Altima rate quotes. You may even discover the biggest savings come from a lesser-known regional company.

People leave their current company for any number of reasons including high rates after DUI convictions, denial of a claim, policy cancellation or unfair underwriting practices. It doesn't matter what your reason, finding the right auto insurance provider is actually quite simple.

Discount Nissan Altima insurance in Madison is available both online and from local agencies, and you need to comparison shop both to have the best rate selection. A few companies may not offer rate quotes online and these regional carriers provide coverage only through local independent agencies.

Additional detailed information can be read in the articles below: