Comparing quotes for cheap car insurance is tough enough, and figuring out which companies have the cheapest car insurance rates for infrequent drivers requires even more diligence. Each auto insurer uses their own calculation to set premium rates, so we’ll go over the lowest cost car insurance companies in Madison.
We do need to point out that Madison, WI car insurance rates are calculated based on many things that may substantially change your annual premium. Getting older, adding a teenager to your policy, or getting a speeding ticket can trigger rate changes that can cause some rates to be more expensive than before.
Lowest Insurance Price Quotes in Wisconsin
|Rank||Company||Cost Per Year|
|8||Rural Mutual Insurance||$779|
|11||West Bend Mutual||$926|
|14||Auto Club Group||$948|
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USAA has some of the cheapest 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, Nationwide, and Rockford Mutual also qualify as some of the most economical Madison, WI insurance companies.
In the above example, if you are insured with Nationwide and switched to Partners Mutual, you could earn a yearly savings of in the vicinity of $113. Insureds with Rockford Mutual might save as much as $122 a year, and Pekin Insurance customers might reduce prices by as much as $136 a year.
If you want to see how much you could save, click here to begin a quote or click through to the companies below.
Understand that those policy prices are averaged for all types of insureds and vehicles and and are not calculated with an exact zip code location for infrequent drivers. So the company that can offer the best rates for your situation may not even be in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
One of the many criteria that are used to help calculate the amount you pay for auto insurance is where you normally keep your vehicle in Madison. Cities with larger populations tend to pay slightly more, whereas less populated areas have the luxury of cheap car insurance rates.
The following table ranks the highest-priced areas in Wisconsin for infrequent drivers to purchase auto insurance in. Madison makes the list at #13 with the annual price of $1,040 for coverage, which is around $87 per month.
|22||Fond du Lac||$965|
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Prices are approximated as the specific area where the vehicle is garaged can affect insurance rates noticeably.
The car, truck, or SUV driven is a significant factor when looking for low-priced insurance for infrequent drivers. Vehicles with high performance features, a lack of modern safety features, or a track record of large liability claims will cost significantly more to insure than more economical and safe models.
The next table ranks coverage rates for a number of the cheaper automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$1,060|
|Honda CR-V LX 4WD||$1,133|
|Honda Odyssey EX W/Rear Entertainment||$1,207|
|Ford Edge SEL 2WD||$1,212|
|Chevrolet Impala LS||$1,207|
|Toyota Tacoma Double Cab 4WD||$1,229|
|Chevrolet Equinox LS AWD||$1,235|
|Volkswagen Jetta S 2.5 Station Wagon||$1,264|
|Ford Focus SES 4-Dr Sedan||$1,273|
|Toyota Corolla LE||$1,296|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,319|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$1,330|
|Ford Fusion S 4-Dr Sedan||$1,344|
|GMC Sierra SLE Crew Cab 2WD||$1,349|
|Chevrolet Malibu LS||$1,344|
|Toyota RAV4 Sport 2WD||$1,350|
|Dodge Ram Quad Cab ST 2WD||$1,362|
|Nissan Altima 2.5 4-Dr Sedan||$1,381|
|Toyota Camry LE||$1,389|
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Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in vehicle location which can raise or lower price quotes substantially.
By looking at the data, you can figure that models like the Ford Escape, Honda CR-V, and Toyota Prius are most likely going to be some of the most economical vehicles to insure for low mileage drivers.
Picking the right auto insurance company can be a challenge considering how many companies there are in Madison. The company rank data below may help you decide which insurers to look at when trying find the best insurance for infrequent drivers.
These ratings only include large, nationwide insurance companies, so smaller companies are not included in this list. To compare rates from these top-rated insurers and more, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The illustration below shows how different deductible levels can influence insurance prices when searching for cheap insurance for infrequent drivers. The price estimates are based on a single female driver, comp and collision included, and no discounts are taken into consideration.
In the chart above, a 50-year-old driver could pocket $182 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $276 by selecting a $1,000 deductible. Youthful drivers, like the 20-year-old example, could possibly save as much as $462 every year by choosing a higher deductible. When insureds make the decision to increase the deductibles on their policy, it is essential to have enough spare savings to enable you to cover the extra out-of-pocket expense associated with higher deductibles.
Why you should be comparing rates
Madison car insurance rates are impacted by many things which can substantially change the cost of your policy. Getting older, buying another vehicle, or getting a speeding ticket may prompt premium changes that can make some companies cheaper than competitors.
In addition, companies file new Wisconsin car insurance rates multiple times each year to adjust for unexpected claims or profits. Heavier than normal losses can result in higher prices, while a lower level of claims can cause cheaper Madison car insurance rates.
The bar chart below shows the companies that have the cheapest car insurance in Madison, WI for a 45-year-old male driver with no violations or accidents, and a high credit rating. If we compare prices based on his current rating profile, USAA may have the lowest car insurance rates in Madison at $665 a year. This is $496 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance are the rest of the best Madison, WI auto insurance companies.
In this example, we will give the driver from the first set of rates some claims, poor credit, and a few blemishes on his driving record. Since each insurance company has a unique formula for determining prices, analyzing rates will most likely result in a completely different list of affordable Madison car insurance companies as shown below.
Pekin Insurance now has the cheapest price in Madison with Integrity Mutual, Western National, Travelers, and Partners Mutual now rounding out the top five. This demonstrates why it is important to spend some time comparing rates to get the most budget-friendly insurance quotes for infrequent drivers. Insurance rates are determined by many risk factors and change dramatically, so the most economical company two years ago may now cost much more than other companies.
How to find budget-friendly car insurance for infrequent drivers
Below you’ll find some of the recommended penny-pinching solutions that can help you locate lower-cost coverage.
- Frequent claims may make car insurance unaffordable
- Accidents can significantly increase rates
- Be a safe driver
- Raise deductibles to save money
- Save money by bundling your home and auto policies
- Clean up your credit rating
- Shop around for cheaper prices
The last tip is notably significant, as we discussed in this write-up. Auto insurance rates can be modified anytime, so don’t hesitate to buy a policy from a new company if a cheaper rate is available.
Sticking with a specific company is fine, but is isn’t recommended if your bullheadedness ends up costing you big bucks every year. If you have a few minutes, shop around to find cheaper car insurance for infrequent drivers in Madison.
If you prefer to have a little guidance when trying to find lower insurance rates for low mileage drivers, the agencies below can help you make a decision which coverage meets your needs best. To find an auto insurance agency close to you, click the button at the bottom of the list.
Spectrum Insurance Group – Madison
525 Junction Rd #8505 – Madison, WI 53717 – (608) 204-7055
1310 Mendota St # 108 – Madison, WI 53714 – (608) 241-4136
Melissa Eckstrom – State Farm Insurance Agent
1771 Thierer Rd – Madison, WI 53704 – (608) 663-5000