How Much are Auto Insurance Rates for Drivers with Good Credit in Madison?

The words “economical” and “insurance” probably shouldn’t be used in the same sentence, especially when you are trying to find the cheapest car insurance for drivers with good credit. Because of the high cost, let’s lead off by showing you some situations that have an impact on car insurance rates, and see how we can help you lower the price of your next policy.

The car, truck, or SUV needing coverage is one of the largest factors when trying to find the best cheap coverage for drivers with good credit. Vehicles with limited speed and performance, advanced safety features, or low incidents of liability claims will cost significantly less to insure than adrenaline junky models. The next list shows car insurance costs for a selection of the cheaper vehicles to buy coverage for.

Cheapest Vehicles to Insure in Madison, WI
Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $1,024
Honda CR-V LX 2WD $1,157
Ford Escape XLS 4WD $1,167
Toyota Camry LE $1,211
Dodge Grand Caravan SXT $1,234
Dodge Ram 3500 Crew Cab Laramie 2WD $1,242
Ford Explorer Eddie Bauer AWD $1,234
Jeep Wrangler Rubicon 4WD 2-Dr $1,257
Ford Edge SE 2WD $1,273
Chevrolet Impala LTZ $1,275
Toyota Prius $1,282
Toyota Corolla XRS $1,298
Toyota Tacoma 2WD $1,305
Ford Fusion S 4-Dr Sedan $1,330
Chevrolet Equinox LT AWD $1,338
Toyota RAV4 Limited 4WD $1,330
Jeep Grand Cherokee Laredo 4WD $1,369
Chevrolet Malibu LT $1,399
Dodge Ram Quad Cab Laramie 2WD $1,408
Ford F-350 Super Cab Lariat Turbo Diesel 2WD $1,410
GMC Sierra 3500HD SLT Crew Cab 2WD $1,420
Chevrolet Silverado LS Extended Cab 2WD $1,421
Hyundai Sonata GLS 4-Dr Sedan $1,428
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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 multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Table data does not factor in vehicle garaging location which can increase or decrease coverage prices greatly.

By looking at the data, we can conclude that models like the Hyundai Elantra, Honda CR-V, and Ford Escape are most likely going to be some of the most affordable vehicles to insure for financially responsible drivers.

Determining which insurers offer the best auto insurance rates for drivers with good credit takes a bit more work in order to find the lowest price quote.

Each auto insurer has a unique approach for setting rates, so to begin we’ll rank the auto insurance companies with the overall best prices in Madison. It’s important to know that Madison, WI auto insurance rates are calculated based on many things which can substantially decrease or increase the price you have to pay for coverage. Improving your credit rating, buying a different home, or getting a DUI can trigger rate changes that can cause some rates to be more affordable than the competition.

Best Car Insurance Prices for High Credit

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Rankings for the cheapest car insurance companies in Wisconsin
Rank Company Cost Per Year
1 USAA $598
2 Partners Mutual $608
3 Erie $717
4 Rockford Mutual $724
5 Nationwide $745
6 Integrity Mutual $762
7 Pekin Insurance $768
8 Rural Mutual Insurance $772
9 Western National $801
10 Travelers $820
11 State Farm $896
12 West Bend Mutual $899
13 General Casualty $926
14 The Hartford $940
15 Auto Club Group $948
16 American Family $1,125
17 Auto-Owners $1,126
18 Farmers $1,141
19 Progressive $1,152
20 GEICO $1,190
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USAA generally has some of the lowest car insurance rates in Madison at around $598 per year. This is $563 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide would also be considered some of the cheapest Madison, WI auto insurance companies.

In the above rates, if you currently buy coverage from Nationwide and switched to Partners Mutual, you could see annual savings of in the neighborhood of $137. Policyholders with Integrity Mutual might save as much as $154 a year, and Pekin Insurance insureds might realize rate reductions of up to $160 a year.

To discover how much you can save, click here to begin a quote or visit any of the low-priced companies below.

Understand that those rates are averages across all ages of drivers and types of vehicles and do not factor in an exact vehicle garaging location for drivers with good credit. So the insurer that can offer you the best price may not even be in the top 30 companies in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver data and vehicle information.

One of the more important considerations that aid in calculating the cost of insurance is where you call home. Areas with more people or even just a higher incidence of claims likely pay more, whereas areas with less people or fewer weather incidents can boast about having cheaper rates.

The table below shows the most expensive places in Wisconsin for drivers with good credit to purchase a policy in. Madison ranks #15 with a yearly premium of $1,040 for the average insured, which is about $87 monthly.

How much is car insurance in Madison?
Rank City Average Per Year
1 Milwaukee $1,396
2 Wauwatosa $1,305
3 West Allis $1,246
4 Kenosha $1,230
5 Racine $1,217
6 Oak Creek $1,190
7 Greenfield $1,156
8 Franklin $1,151
9 Beloit $1,118
10 Brookfield $1,067
11 Waukesha $1,065
12 Eau Claire $1,049
13 New Berlin $1,049
14 Janesville $1,042
15 Madison $1,040
16 Wausau $1,037
17 Menomonee Falls $1,026
18 La Crosse $1,022
19 West Bend $1,017
20 Manitowoc $967
21 Appleton $964
22 Oshkosh $960
23 Fond du Lac $956
24 Green Bay $941
25 Sheboygan $925
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Table data uses comparative as vehicle location can increase or decrease coverage rates substantially.

How accidents and violations affect rates

A great way to score low auto insurance premiums for financially responsible drivers is to be a safe driver and not have accidents or get tickets. The diagram below highlights how speeding tickets and at-fault collisions can drive up car insurance costs for different age categories. The costs are based on a single female driver, full coverage, $500 deductibles, and no discounts are factored in.

The data in the chart shows the average cost of car insurance in Madison per year with a clean driving record and no accidents is $1,406. Add in two speeding tickets and the average cost increases to $1,881, an increase of $475 each year. Then include two accidents along with the two speeding tickets and the 12-month cost of auto insurance for drivers with good credit increases to an average of $3,717. That’s an increase of $2,311, or $193 per month, just for not being attentive to the road!

The illustration below illustrates how your choice of deductibles can change insurance premiums when getting quotes for cheap insurance for drivers with good credit. The costs are based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.

A 30-year-old driver could save $290 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $438 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old example, can cut $650 each year by choosing a higher deductible.

If you do make the decision to raise your deductibles, it is important to have plenty of discretionary funds to allow you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Get discount Madison insurance

Discounts on auto insurance for drivers with good creditAuto insurance companies that provide policies for drivers with good credit may provide special discounts that could lower prices by 25% or more if you are eligible to receive them. Companies and some of their more popular discounts are detailed below.

The illustration below illustrates the comparison of auto insurance rates with and without discounts being applied to the rates. The premium estimates are based on a female driver, no claims or driving violations, Wisconsin state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with multiple vehicle, marriage, multiple policy, passive restraint, vehicle safety, and safe-driver discounts applied. When taking advantage of discounts, theaverage yearly reduction on auto insurance for drivers with good credit is 27% or $286.

The agents shown below can most likely help you determine which auto insurance policy fits you best, as some people prefer to get some professional input when shopping around for cheaper insurance for drivers with good credit. It can be difficult to find the cheapest car insurance policy, and getting advice from a licensed agent can give satisfaction knowing you have enough protection. To locate a Madison auto insurance agent near you, click the link at the bottom or click here to get price quotes now.

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