How Much are Auto Insurance Quotes for a 20 Year Old Male in Madison?

The words “affordable” and “insurance” probably shouldn’t be used in the same sentence, in particular when trying to find the best price on coverage for 20 year old guys. To help control this cost, let’s start off by going over some of the things that have an effect on insurance rates, and come up with some ways to reduce the price of the next policy you buy.

Comparing quotes for budget insurance is not most people’s favorite thing to do, and determining which company has the cheapest car insurance rates for 20 year old guys calls for more quotes for comparison. Every auto insurer has a different formula to set their prices, so first we will examine the car insurance companies that tend to be cheaper in Madison, WI.

We do need to point out that Madison, WI car insurance rates are based on many factors that will increase or decrease the price you have to pay. Events such as a birthday, getting divorced, or getting a driving violation can trigger changes in premium resulting in some rates now being more affordable than the competition.

Best Car Insurance Prices for Men Age 20

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Cheapest Wisconsin car insurance ranked by price
Rank Company Cost Per Year
1 USAA $580
2 Partners Mutual $608
3 Erie $717
4 Rockford Mutual $724
5 Pekin Insurance $745
6 Rural Mutual Insurance $749
7 Western National $769
8 Integrity Mutual $770
9 Nationwide $775
10 Travelers $828
11 West Bend Mutual $899
12 General Casualty $926
13 State Farm $932
14 Auto Club Group $939
15 The Hartford $940
16 Farmers $1,141
17 Auto-Owners $1,148
18 American Family $1,159
19 Progressive $1,164
20 GEICO $1,190
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USAA may have some of the cheapest car insurance rates in Madison at around $580 annually. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance also rank well as some of the cheapest Madison, WI car insurance companies.

As the example above demonstrates, if you currently have a policy with Rockford Mutual and switched to Partners Mutual, you might see a yearly price reduction of upwards of $116. Drivers with Pekin Insurance may save as much as $137 a year, and Rural Mutual Insurance customers might see rate reductions of $141 a year.

To find cheaper insurance rates for your vehicle, click here to get quotes or feel free to get quotes from the companies below.

These estimates are averages across all drivers and vehicles and are not factoring in a vehicle location for 20 year old guys. So the car insurance company that fits you best may not even be in the list above. That points out the importance of why you need to compare rates from multiple companies using your own specific driver information and vehicle.

The type of vehicle on the policy is one of the biggest factors in finding the cheapest coverage for 20 year old guys. Vehicles with lower acceleration and performance, good crash test ratings, or a positive history of liability claims will cost significantly less to insure than high performance models.

The table below presents insurance premiums for the cheaper vehicles to buy insurance for.

Cheapest Vehicles to Insure in Madison, WI
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V LX 2WD $2,474
Ford Escape XLS 4WD $2,482
Honda Odyssey LX $2,719
Jeep Wrangler Sport Islander Package 4WD 2-Dr $2,729
Toyota Prius $2,732
Toyota Tacoma 2WD $2,904
Chevrolet Impala LS $2,913
Ford Edge Limited 2WD $2,904
Toyota Camry LE $2,941
Toyota RAV4 4WD $2,950
Chevrolet Equinox LS 2WD $2,941
Dodge Grand Caravan SXT $2,977
Chevrolet Malibu LT $2,984
Ford Explorer Limited AWD $2,977
Ford F-150 FX4 4WD $2,982
Hyundai Elantra Blue 4-Dr Sedan $3,087
Nissan Altima 2.5 S 4-Dr Sedan $3,124
Nissan Rogue S 2WD $3,153
Honda Civic Hybrid 4-Dr Sedan $3,159
Toyota Corolla XRS $3,166
Jeep Grand Cherokee Limited 2WD $3,159
Volkswagen Jetta SE 4-Dr Sedan $3,164
Ford Fusion SE 4-Dr Sedan $3,159
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Prices above based on single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in specific garaging location which can modify price quotes significantly.

Looking at the rates, vehicles like the Honda CR-V, Ford Escape, and Honda Odyssey should be some of the more affordable vehicles to insure for young men. The price for an auto insurance policy will tend to be more expensive anyway just due to the fact that there is more claim exposure for 20 year old guys, but in general those vehicles will probably have the lowest prices compared to other types of vehicles.

For young men, one of the big criteria that are looked at to determine the amount you pay each year for auto insurance is where you live in Madison. Cities with larger populations or higher claim trends are more likely to pay higher prices, whereas areas with less people or fewer weather incidents have the luxury of lower rates.

The information below lists the priciest cities in Wisconsin for 20 year old guys in which to purchase auto insurance. Madison is ranked #13 with the yearly price of $1,062 for the average policyholder, which is about $89 per month.

How much does auto insurance cost in Madison?
Rank City Annual Rate
1 Milwaukee $1,396
2 Wauwatosa $1,305
3 West Allis $1,234
4 Kenosha $1,230
5 Racine $1,217
6 Oak Creek $1,202
7 Franklin $1,163
8 Greenfield $1,156
9 Beloit $1,152
10 Eau Claire $1,081
11 Brookfield $1,077
12 Wausau $1,069
13 Madison $1,062
14 Menomonee Falls $1,037
15 Waukesha $1,034
16 Janesville $1,022
17 La Crosse $1,022
18 New Berlin $1,018
19 West Bend $1,007
20 Manitowoc $997
21 Fond du Lac $995
22 Oshkosh $960
23 Sheboygan $953
24 Green Bay $931
25 Appleton $926
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Rates are estimated as zip code location can lower or raise premium rates significantly.

The chart below highlights how deductible choice can raise or lower annual premium costs when searching for cheap insurance for 20 year old guys. The data is based on a single male driver, full coverage, and no other discounts are factored in.

The chart above illustrates that a 50-year-old driver could pocket $188 a year by increasing from a $100 deductible to a $500 deductible, or save $284 by selecting a $1,000 deductible. Even younger drivers, such as the 20-year-old example, can save as much as $622 annually just by choosing larger deductibles.

If you do make the decision to raise your deductibles, it is a good idea to have enough in a savings account to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.

Do you need full coverage?

Lowering the price of car insurance is probably important to the majority of drivers, and one great way to pay lower rates for insurance for 20 year old guys is to not buy comprehensive and collision coverage. The illustration below compares car insurance rates with full coverage compared to only the Wisconsin minimum liability coverage. The data is based on no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no discounts are applied.

As an overall average, comp and collision coverage costs an additional $1,296 per year over and above liability only. That proposes the question if buying full coverage is a waste of money. There isn’t a written rule to delete full coverage, but there is a general convention. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

There are a few cases where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not buy liability only.

How to find economical car insurance for 20 year old guys

It is possible to find better rates, and here are some of the better money-saving suggestions that can help Wisconsin drivers quote cheap car insurance.

That last idea is very significant, as we emphasized in this piece. Auto insurance prices in Madison fluctuate constantly, so don’t hesitate to switch carriers if a better deal can be had. Many consumers stick with the same company and that’s fine, but is isn’t recommended if that loyalty ends up costing potentially thousands of dollars a year. It takes less than five minutes to compare rates and find cheaper car insurance for 20 year old guys.