What Auto Insurance is Cheapest for a Hyundai Elantra in Madison?

Finding the cheapest insurance for a Hyundai Elantra in Wisconsin doesn’t take too much effort, but it depends on a whole bunch of factors such as whether you use your Elantra for business use, your credit status, and your choice of physical damage deductibles. Drivers in Wisconsin pay approximately $516 each year for Elantra insurance, but that cost is an estimate calculated based on a 50-year-old single female driver with both comprehensive and collision coverage and $1,000 deductibles.

There’s a high likelihood you aren’t exactly 50 years old or even a female, married instead of single, and you may just want the cheapest liability coverage you can find. Different coverage needs are the reason why the only real way to find affordable rates for your Hyundai is to just take the time to compare rates yourself.

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Vehicle trim level has an effect on the yearly cost, so the price you will pay to insure a Elantra GLS Touring Station Wagon trim level will be $44 less than the cost to insure the more well-appointed Elantra SE Touring Station Wagon trim level, as demonstrated by the prices below.

Hyundai Elantra Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $82 $152 $220 $14 $66 $534 $45
Elantra Blue 4-Dr Sedan $82 $218 $260 $16 $78 $654 $55
Elantra GLS 4-Dr Sedan $94 $218 $260 $16 $78 $666 $56
Elantra SE 4-Dr Sedan $94 $218 $260 $16 $78 $666 $56
Elantra SE Touring Station Wagon $94 $184 $220 $14 $66 $578 $48
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Premium costs do not factor in specific Madison garaging location which can change insurance rates substantially.

Deciphering which company quotes the most affordable auto insurance rates for a Hyundai Elantra will involve a tad more effort than just comparing rates from one or two companies. Each insurer has their own formula for setting prices, so we need to take a look at the lowest cost auto insurance companies in Madison.

It’s important that readers know that Wisconsin auto insurance rates are based on many factors that may substantially change the cost of your policy. Turning one year older, moving across town, or having a fender bender can cause premium changes that can make some companies cheaper than competitors.

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Cheapest Wisconsin car insurance ranked by price
Rank Company Cost Per Year
1 USAA $604
2 Partners Mutual $608
3 Erie $717
4 Nationwide $745
5 Rockford Mutual $746
6 Pekin Insurance $752
7 Western National $769
8 Rural Mutual Insurance $772
9 Integrity Mutual $794
10 Travelers $804
11 West Bend Mutual $890
12 State Farm $905
13 The Hartford $912
14 General Casualty $926
15 Auto Club Group $948
16 Progressive $1,118
17 Auto-Owners $1,126
18 Farmers $1,165
19 American Family $1,171
20 GEICO $1,202
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USAA may offer some of the lowest car insurance rates in Madison at around $604 annually. This is $557 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 car insurance companies.

In this example, if you have coverage with Erie and switched to USAA, you could earn an annual savings of about $113. Wisconsin drivers with Nationwide might save as much as $141 a year, and Rockford Mutual insureds might realize rate reductions of up to $142 a year.

Remember that these prices are averaged for all ages of drivers and types of vehicles and are not factoring in a specific location for a Hyundai Elantra. So the company that has the cheapest price for you may not even be in the list above. That is why you need to quote rates from many companies using your own specific driver information and vehicle.

The diagram below illustrates how your choice of deductibles can influence yearly insurance costs when trying to find cheap insurance for a Hyundai Elantra. The prices are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.

A 40-year-old driver could lower their car insurance rates by $192 a year by changing from a $100 deductible to a $500 deductible, or save $290 by choosing a $1,000 deductible. Even younger drivers, like the Age 20 category, could drop their prices up to $640 every year just by choosing higher deductibles. When using a larger deductible, it is essential to have plenty of money set aside to enable you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Discounts on Madison auto insurance

Save on auto insurance for an Elantra in MadisonAuto insurance companies that provide policies for a Hyundai Elantra may also give you rate discounts that could potentially reduce rates by 40% or more if you are eligible. A list of companies and a selection of discounts can be found below.

The example below compares insurance premiums with and without policy discounts. The premiums assume a male driver, no accidents, no driving violations, Wisconsin state minimum liability limits, full physical damage coverage, and $1,000 deductibles.

The first bar for each age group shows the price with no discounts. The lower bar shows the rates with safe-driver, multiple vehicle, marriage, multiple policy, accident-free, and anti-theft discounts applied. When drivers qualify for the discounts, the average amount saved each year on auto insurance for a Hyundai Elantra is 28% or $291.

Low rates can quickly become overpriced

Madison auto insurance rates are based on many factors that can increase the cost of a policy. Simply having another birthday, marrying your spouse, or getting a DUI may prompt premium changes that can make some companies cheaper in comparison to the competition.

Not only may things change on your end, but car insurance companies modify pricing multiple times each year in order to offset underwriting gains or losses. An extended period of higher than normal claims can cause more expensive prices, while lower claim expenses may produce lower-priced Elantra insurance rates.

To help illustrate this point, the graph below demonstrates which company has the cheapest car insurance in Madison, WI for a 30-year-old male driver with no accidents, a clean driving record, and a good credit history. If we compare prices based on his current risk factors, USAA might offer the cheapest car insurance rates in Madison at $700 per year. This is $461 less than the average rate paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide round out the rest of the cheapest Madison, WI auto insurance companies.

The chart below compares rates after we give the driver from the above example an accident claim, bad credit, and a speeding citation. Due to the fact that each insurance company has a proprietary formula to determining premium rates, comparing quotes could now result in a new list of affordable companies as shown below.

Pekin Insurance now has the lowest price on auto insurance in Madison, WI with Western National, Integrity Mutual, Travelers, and Partners Mutual also being competitive. This example illustrates why it is important to compare as many rates as possible when trying to find affordable car insurance rates for a Hyundai Elantra.

Auto insurance prices can be altered by many things and can increase or decrease at any time, so the cheapest option three years ago may now not even be in the top five.

Tips for buying the cheapest auto insurance for a Hyundai Elantra

Below you’ll find some of the better money-saving solutions that can help drivers find cheap car insurance.

The final tip is very crucial, as we emphasized in this piece. Coverage rates in Madison vary greatly, so don’t be tentative to change insurance companies if a better rate can be found.

Having a favorite company is great, but it’s not a good idea if that dedication is costing a lot of money every month. In less than five minutes you could shop around to find cheaper auto insurance for a Hyundai Elantra.

If you aren’t clear which coverage you need and would like to get some professional advice when shopping around for cheaper insurance for an Elantra, the agencies below can provide answers to your questions and help you determine which policy is best. To locate a Madison car insurance agency closest to you, click the button at the bottom of the list or click here to compare prices now.

Red Barn Insurance Agency
6666 Odana RdMadison, WI 53719(608) 467-6804

American Family Insurance – Michael Kittoe
334 Junction RdMadison, WI 53717(608) 827-9788

American Family Insurance – D Webster-Scher Agency Inc.
637 E Washington AveMadison, WI 53703(608) 249-3111

Affiliated Insurance-Wisconsin
3830 Atwood AveMadison, WI 53714(608) 273-3361

Abacus-Bertz Financial
6417 Odana Rd Suite 13Madison, WI 53719(608) 238-5800

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