How Much are Auto Insurance Rates for Retired Military in Madison?

See How Much You Can Save

Deciding which companies have the cheapest insurance rates for retired military will require a little more sweat than just comparing rates from one or two companies. Every car insurance company uses a slightly different approach for setting prices, so let's take a look at the most affordable insurance companies in Wisconsin.

It's important to know that Madison, WI insurance rates are calculated based on many things that may substantially change the price of your policy. Simply having a birthday, filing a claim, or getting a few speeding tickets can trigger price changes that can now make some companies cheaper than others.

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Who has the cheapest car insurance in Wisconsin?
Rank Company Cost Per Year
1 USAA $604
2 Partners Mutual $626
3 Erie $696
4 Pekin Insurance $745
5 Rockford Mutual $754
6 Integrity Mutual $770
7 Rural Mutual Insurance $772
8 Nationwide $775
9 Western National $777
10 Travelers $828
11 West Bend Mutual $926
12 State Farm $932
13 General Casualty $936
14 Auto Club Group $939
15 The Hartford $940
16 Auto-Owners $1,114
17 American Family $1,125
18 Farmers $1,130
19 Progressive $1,164
20 GEICO $1,202
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USAA offers some of the lowest car insurance rates in Madison at around $604 a year. Partners Mutual, Erie, Pekin Insurance, and Rockford Mutual would also make the list of some of the cheaper Madison, WI insurance companies.

In this example, if you currently have coverage with Pekin Insurance and switched to Partners Mutual, you may realize yearly savings of around $119. Drivers with Rockford Mutual could save as much as $128 a year, and Integrity Mutual customers might see rate reductions of $144 a year.

Understand that those premium estimates are averaged across all types of insureds and vehicles and and are not calculated with a specific location for retired military. So the auto insurance company that can offer the best rates for your situation may not even be in the top 30 companies shown above. That emphasizes why you need to compare as many prices as possible using your own specific driver information and vehicle.

For veterans, one of the largest criteria that aid in calculating the annual cost of car insurance is where your car is garaged in Madison. Areas with more people or higher crime rates likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower rates.

The table below sorts the most expensive cities in Wisconsin for retired military to buy car insurance in. Madison is listed at #11 with the annual price of $1,072 for the average policyholder, which is about $89 each month.

How much is auto insurance in Madison, WI?
Rank City Premium Per Year
1 Milwaukee $1,410
2 Wauwatosa $1,305
3 West Allis $1,234
4 Kenosha $1,218
5 Racine $1,193
6 Greenfield $1,168
7 Oak Creek $1,166
8 Beloit $1,164
9 Franklin $1,129
10 Eau Claire $1,091
11 Madison $1,072
12 La Crosse $1,053
13 New Berlin $1,049
14 Wausau $1,047
15 Brookfield $1,045
16 Janesville $1,042
17 Menomonee Falls $1,037
18 Waukesha $1,023
19 West Bend $1,017
20 Fond du Lac $995
21 Manitowoc $987
22 Sheboygan $963
23 Green Bay $960
24 Oshkosh $960
25 Appleton $936
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Prices are comparative as zip code location can alter coverage rates significantly.

The vehicle model that needs insurance is one of the main factors that determines if you can find the lowest-priced coverage for retired military. Vehicles with lots of speed or power, poor crash test ratings, or a track record of large liability claims will cost much more to insure than safer, lower-performance models.

The data below presents insurance costs for some of the most cost-effective automobiles to insure.

Cheapest Vehicles to Insure in Madison, WI
Vehicle Make and Model Estimated Cost for Full Coverage
Chevrolet Silverado LS Regular Cab 4WD $1,127
Toyota Prius $1,132
Dodge Grand Caravan SE $1,150
Ford Explorer XLT 4WD $1,159
Honda CR-V LX 4WD $1,173
Ford Focus S 4-Dr Sedan $1,189
Ford Escape XLT 4WD $1,199
Chevrolet Malibu Hybrid $1,212
Toyota RAV4 Limited 4WD $1,217
Honda Odyssey EX-L W/Rear Entertainment $1,274
Toyota Tacoma 4WD $1,316
Hyundai Sonata SE 4-Dr Sedan $1,359
Nissan Rogue SL AWD $1,369
Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD $1,408
Ford F-150 FX4 4WD $1,414
Chevrolet Silverado 2500HD LT Crew Cab 2WD $1,447
Toyota Corolla S $1,460
Ford Edge Sport AWD $1,465
Volkswagen Jetta SEL 4-Dr Sedan $1,486
GMC Sierra SLT Extended Cab 2WD $1,493
Chevrolet Equinox LS 2WD $1,486
Jeep Grand Cherokee SRT-8 4WD $1,495
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $1,529
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price information does not factor in the specific area where the vehicle is garaged which can increase or decrease rates significantly.

Based upon these rates, we can tell that vehicles like the Chevrolet Silverado, Toyota Prius, Dodge Grand Caravan, and Ford Explorer will definitely be a few of the most economical vehicles to insure for veterans.

Does full coverage make sense?

Paying less for insurance should be important to most vehicle owners, and one of the best ways to buy cheaper insurance for retired military is to only pay for liability coverage. The illustration below illustrates the difference between yearly insurance costs with full physical damage coverage compared to only buying liability only. Data assumes no driving violations, no at-fault accidents, $500 deductibles, single status, and no additional discounts are factored in.

Averaged out for all age groups, physical damage insurance costs an extra $1,092 per year more than just insuring for liability. That is a big expense that brings up the question if buying full coverage is worth the money. There isn't a steadfast formula of when to eliminate full coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.

Get discount Madison car insurance rates

Discounts on insurance for retired militaryInsurance companies that offer quotes for retired military may additionally offer discounts that could potentially reduce rates by 25% or more if you can meet the requirements. Larger insurance companies and some of the discounts can be read below.

The diagram below visualizes the comparison of insurance costs with and without discounts applied. The premiums are based on a female driver, no claims or violations, Wisconsin state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with safe-driver, multiple policy, defensive driving course, accident-free, vehicle safety, and multiple vehicle discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for retired military is 27% or $344.

Compare rates to save

Madison, WI insurance rates are impacted by many things that can increase the policy premium. Getting older, getting divorced, or getting a DUI may prompt premium changes resulting in some companies being more affordable than competitors. In addition, companies change their prices as often as every three months to adjust for gains or losses. Significantly higher losses may cause increased policy costs, while a lower level of claims may cause cheaper Madison car insurance rates.

To illustrate this example, the chart below shows rates for the cheapest car insurance in Madison, WI for a 40-year-old male driver with no accidents or violations, and a high credit rating. Based on his current situation, USAA might offer the cheapest car insurance rates in Madison at $693 per year. This is $468 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide also make the list of the cheapest Madison, WI auto insurance companies.

Let's now give the driver from the above example a couple of claims, less-than-perfect credit, and a few blemishes on his driving record. Because each company has a unique formula for determining rates, analyzing rate quotes most likely will result in a different list of cheap Madison auto insurance companies as shown below.

Integrity Mutual now has the best car insurance rate in Madison, WI with Pekin Insurance, Western National, Travelers, and Partners Mutual now being in the top five. This example shows why it is critical to spend some time comparing rates when trying to get cheap auto insurance quotes for retired military. Prices are determined by many things and can decrease or increase without notice, so the cheapest rate a year ago may now not even be in the top five.

How to find economical auto insurance for retired military

Lowering your rates is not difficult, and here are a few money-saving ideas that can help Madison drivers buy low-cost auto insurance.

The last tip in the list is certainly necessary, as we noted in the prior information. Coverage rates can change considerably based on profitability, so don't hesitate to buy a different policy if a better rate can be found. Many drivers prefer to stick with one company, but is isn't recommended if that loyalty ends up costing a wad of cash every year. In just a few minutes you could compare prices and find cheaper auto insurance for retired military in Madison.

The agents shown below are a good start to help you decide which is the best policy, as many people would rather have professional advice when shopping for cheaper insurance for veterans. It can be hard to find the best policy on your own, and agents can give you peace of mind knowing you have suitable coverage if you have an accident. To find an auto insurance agency near you, click the button at the bottom or click here to compare price quotes.

American Family Insurance - Jennifer Haack Agency LLC
3312 Packers Ave - Madison, WI 53704 - (608) 249-2182

Homewood Insurance Agency
583 D'onofrio Dr Ste. 1012 - Madison, WI 53719 - (608) 442-6666

American Family Insurance - Vicki Wagener Agency LLC
1633 Thierer Rd - Madison, WI 53704 - (608) 249-2184

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