Audi A8 Insurance Rates in Madison

It’s safe to conclude that insurance companies don’t want policyholders to shop around. Drivers who shop around for the cheapest rate will probably buy a different policy because there is a good chance of finding a policy with more affordable rates. A study discovered that drivers who routinely shopped around saved $70 a month compared to other drivers who never shopped around for cheaper prices.

If finding the cheapest rates on Audi A8 insurance in Madison is your ultimate target, then learning a little about the best way to shop and compare insurance rates can help simplify the task of finding more affordable coverage.

If saving money is your primary concern, then the best way to find lower priced Audi A8 insurance in Madison is to start doing an annual price comparison from companies that sell auto insurance in Wisconsin.

First, gain an understanding of how companies price auto insurance and the measures you can control to prevent high rates. Many rating criteria that are responsible for high rates such as traffic violations, accidents, and a negative credit history can be controlled by making minor driving habit or lifestyle changes.

Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can provide prices from multiple sources.

Third, compare the price quotes to the premium of your current policy and see if there is a cheaper rate in Madison. If you find a better price and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.

Fourth, provide written notification to your current company to cancel the current policy. Submit the completed application along with a down payment for the new coverage. As soon as you have the new policy, safely store the certificate of insurance in your glove compartment.

An important bit of advice to remember is to try to compare similar coverage information on each quote and and to get quotes from as many carriers as you can. This guarantees a fair price comparison and maximum price selection.

Best companies for Audi A8 insurance

The following companies have been selected to offer quotes in Wisconsin. To find cheap auto insurance in Wisconsin, we suggest you visit as many as you can to get the cheapest price.

Coverage statistics and figures

The table displayed next outlines estimates of insurance premium costs for Audi A8 models. Learning a little about how rate quotes are determined can help guide drivers when making decisions on the best policy coverages.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Premium costs do not factor in specific garaging location which can alter premium rates greatly.

Deductible comparison

One common question asked by Madison drivers is how high should your deductibles be. The figures shown below approximate the price difference when you choose different physical damage coverage deductibles. The first set of rates uses a $100 deductible and the second price table uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Estimates do not factor in your specific Madison location which can revise insurance rates noticeably.

Based on the data above, we can derive that using a $100 deductible would cost the average driver about $26 more each month or $312 for a full year averaged for all A8 models than buying the higher $500 deductible. Since the policyholder would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you average at least 15 months between claim filings, you would most likely save money going with the higher deductible.

An important sidenote is that a higher deductible means you will have to pay more out-of-pocket when you have to file a claim. You need to have some extra savings in the event you need to pay the deductible for vehicle repair.

The chart below illustrates how choosing a deductible and can change Audi A8 insurance rates for different insured age categories. The information is based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Violations and accidents raise rates

The illustration below shows how speeding tickets and accidents raise Audi A8 annual premium costs for different insured age categories. The rates are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.

Age-based insurance rates by gender in Madison

The chart below illustrates the difference between Audi A8 yearly insurance costs for male and female drivers. The premiums assume a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, marital status is single, and no discounts are applied to the premium.

Cost comparison with and without full coverage

The example below illustrates the difference between Audi A8 car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume a clean driving record, no claims, $500 deductibles, drivers are not married, and no discounts are applied to the premium.

Should you buy full coverage or liability only?

There is no exact rule for dropping full coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

For example, let’s assume your Audi A8 replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $5,000 after paying your deductible. If it’s costing in excess of $500 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where eliminating full coverage is not recommended. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not buy liability only.

Cheaper Madison insurance rates with discounts

Some insurance providers don’t always publicize all possible discounts very clearly, so the next list breaks down a few of the more well known and the more hidden discounts you could be receiving when you buy Madison car insurance online.

• Paperless Signup – Some of the larger companies will discount your bill up to fifty bucks for signing up digitally online.
• Pay Now and Pay Less – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
• Driver Education Discount – Teen drivers should take driver’s ed class in high school.
• Early Renewal Discounts – Select insurance companies give a discount for switching policies before your current A8 insurance policy expires. You could save around 10% when you buy Madison car insurance online.
• Seat Belts Save – Drivers who always wear seat belts and also require passengers to wear their seat belts may be able to save a few bucks off the personal injury premium cost.

A little disclaimer on discounts, most of the big mark downs will not be given to the entire cost. Most only reduce individual premiums such as liability, collision or medical payments. Despite the appearance that all those discounts means the company will pay you, it’s just not the way it works.

The diagram below shows the comparison of Audi A8 yearly insurance costs with and without discounts applied. Data assumes a male driver, no tickets, no at-fault 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-car, homeowner, safe-driver, multi-policy, claim-free, and marriage discounts applied.

A list of companies and some of the discounts are:

• GEICO has savings for military active duty, anti-lock brakes, seat belt use, good student, multi-vehicle, and anti-theft.
• MetLife may have discounts that include accident-free, multi-policy, claim-free, good student, good driver, defensive driver
• State Farm offers premium reductions for safe vehicle, multiple policy, defensive driving training, good student, good driver, accident-free, and driver’s education.
• Progressive offers discounts including online quote discount, homeowner, continuous coverage, good student, multi-policy, online signing, and multi-vehicle.
• Mercury Insurance includes discounts for ease of repair, type of vehicle, accident-free, anti-theft, good driver, age of vehicle, and low natural disaster claims.
• 21st Century has discounts for 55 and older, defensive driver, teen driver, air bags, automatic seat belts, theft prevention, and early bird.
• Allstate offers discounts for early signing, new car, auto/life discount, premier discount, multi-policy, and passive restraint.

When getting free Madison car insurance quotes, it’s a good idea to every insurance company which discounts you qualify for. Some discounts listed above may not be available everywhere. To see providers that offer some of these discounts in Wisconsin, click this link.

Local insurance agents

Many people prefer to buy from a licensed agent and there is nothing wrong with that. A nice benefit of comparing insurance prices online is you may find lower rates and still have a local agent. Buying from and supporting local agencies is important especially in Madison.

Once you complete this form (opens in new window), your insurance data is transmitted to agents in your area who can give free rate quotes and help you find cheaper coverage. It’s much easier because you don’t need to search for any insurance agencies since rate quotes are delivered instantly to you. You’ll get the best rates without requiring a lot of work. In the event you want to compare prices for a specific company, you would need to go to their quote page and fill out the quote form the provide.

Madison car insurance agents come in two flavors

If you want to use a good insurance agency, it can be helpful to understand the types of insurance agents to choose from. Car insurance agents in Madison can be described as either independent agents or exclusive agents depending on their employer.

Independent Agents (or Brokers)

Agents of this type do not write with just one company and that enables them to quote your coverage amongst many companies and find the cheapest car insurance rates. If you are not satisfied with one company, your policy is moved internally and you stay with the same agent. When comparing rates, we recommend you compare prices from several independent agencies so that you can do a thorough price comparison.

Below is a short list of independent insurance agents in Madison that may be able to provide free car insurance quotes.

More insurance agents

Exclusive Agents

These type of agents work for only one company and examples are State Farm, Allstate, and Farm Bureau. These agents are unable to provide other company’s prices so they really need to provide good service. Exclusive agents receive extensive training on their company’s products and that enables them to sell even at higher rates.

The following is a list of exclusive agencies in Madison who can help you get price quotes.

More insurance agents

Choosing the best insurance agent is decision based upon more than just the price. A good agent in Madison will have answers to these questions.

• What company holds the largest book of business for them?
• Did they already check your driving record and credit reports?
• How will an accident affect your rates?
• Does the agent recommend any additional coverage?
• Do they have cheaper tiers of coverage?
• How are claims handled?

After receiving positive feedback to these questions and locked in a price quote, most likely you have located an auto insurance agent that can insure your vehicles. Just be aware that you have the power to cancel your policy at any time so don’t think you are locked into the car insurance policy for a certain time period.

Auto insurance coverages

Having a good grasp of your policy can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Listed below are typical coverages available from car insurance companies.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants as well as damage to your Audi A8.

Since many Wisconsin drivers only carry the minimum required liability limits (25/50/10 in Wisconsin), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

Collision coverage – This coverage pays for damage to your A8 from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for things like hitting a parking meter, backing into a parked car, driving through your garage door and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible on your A8 in order to get cheaper collision rates.

Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive insurance covers things like damage from getting keyed, rock chips in glass, theft and damage from flooding. The maximum payout a car insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for hospital visits, nursing services, dental work, EMT expenses and funeral costs. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and may carry a deductible

Liability insurance – This coverage can cover damage or injury you incur to people or other property in an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 25/50/10 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $10,000 for damage to vehicles and property. Another option is a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers things like medical expenses, court costs and emergency aid. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford. Wisconsin requires drivers to carry at least 25/50/10 but you should think about purchasing more coverage.

The illustration below demonstrates why buying minimum limits may not be high enough to cover claims.

Find cheaper auto insurance rates by comparing often

We just showed you many tips how you can find affordable Audi A8 insurance in Madison. The most important thing to understand is the more you quote Madison car insurance, the better your chances of lowering your car insurance rates. Consumers may even find the lowest rates come from the least-expected company. These companies often have lower car insurance rates on specific markets compared to the large companies like Allstate, GEICO and Progressive.

When buying insurance coverage, it’s not a good idea to reduce needed coverages to save money. In too many instances, consumers will sacrifice comprehensive coverage or liability limits and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your focus should be to buy the best coverage you can find for the lowest cost while still protecting your assets.

For more information, feel free to browse the resources below:

• Teen Driver Statistics (Insurance Information Institute)
• Who Has Affordable Madison Car Insurance Quotes for Low Mileage Drivers? (FAQ)
• Who Has the Cheapest Madison Car Insurance Rates for a Dodge Grand Caravan? (FAQ)
• Who Has Cheap Car Insurance for College Graduates in Madison? (FAQ)
• Alcohol Impaired Driving FAQ (iihs.org)
• Rollover Crash FAQ (iihs.org)