The words “affordable” and “insurance” probably shouldn’t be used together, especially when looking for the best coverage prices for Uber drivers. Let’s familiarize you with some of the things that impact auto insurance prices, and figure out some ideas to slash the price of your next policy.
One of the many considerations that aid in calculating the price you pay for insurance is where your car is garaged. Areas with more people or more claims tend to have more expensive auto insurance rates, whereas more rural areas benefit from lower rates.
The next table shows the most expensive places in Wisconsin for Uber drivers to buy auto insurance in. Madison is listed at #13 with an annual rate of $1,040 for the average policy, which is around $87 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Milwaukee | $1,354 |
| 2 | Wauwatosa | $1,319 |
| 3 | West Allis | $1,246 |
| 4 | Kenosha | $1,194 |
| 5 | Oak Creek | $1,190 |
| 6 | Racine | $1,181 |
| 7 | Franklin | $1,163 |
| 8 | Greenfield | $1,156 |
| 9 | Beloit | $1,130 |
| 10 | Wausau | $1,079 |
| 11 | Eau Claire | $1,059 |
| 12 | New Berlin | $1,049 |
| 13 | Madison | $1,040 |
| 14 | Brookfield | $1,035 |
| 15 | La Crosse | $1,033 |
| 16 | Menomonee Falls | $1,026 |
| 17 | Waukesha | $1,023 |
| 18 | Janesville | $1,022 |
| 19 | West Bend | $1,007 |
| 20 | Manitowoc | $997 |
| 21 | Green Bay | $969 |
| 22 | Fond du Lac | $965 |
| 23 | Oshkosh | $951 |
| 24 | Appleton | $936 |
| 25 | Sheboygan | $935 |
| Find Cheaper Rates Go | ||
Annual rates are approximated as the specific area where the vehicle is garaged can affect coverage prices noticeably.
Shopping around for affordable car insurance is difficult, and determining which companies offer the lowest-priced auto insurance rates for Uber drivers will take a little more work. Each insurer has their own guidelines to determine rates, so let’s take a look at the auto insurance companies that tend to have lower prices in Wisconsin.
Keep in mind that Madison, WI auto insurance rates are calculated based on many things that will increase or decrease the cost of coverage. Getting older, buying a safer car, or having an at-fault accident can produce rate changes that may make certain companies affordable when they were higher priced.
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USAA quotes some of the lowest car insurance rates in Madison at around $604 each year. This is $557 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance also qualify as some of the lowest-priced Madison, WI car insurance companies.
As the example above demonstrates, if you buy coverage from Rockford Mutual and switched to Partners Mutual, you might achieve a yearly price reduction of around $124. Policyholders with Pekin Insurance might save as much as $160 a year, and Nationwide policyholders might reduce rates by $167 a year.
Remember that these policy rates are averaged for all ages of drivers and types of vehicles and are not factoring in an exact location for Uber drivers. So the insurer that fits you best may not even be in the top 30 companies shown above. That is why you need to get auto insurance quotes using your own driver data and vehicle information.
Violations and accidents raise rates
The ideal way to score good auto insurance prices in Wisconsin for Uber vehicles is to drive attentively and avoid tickets and accidents. The example below illustrates how traffic citations and fender-benders can drive up insurance prices for different age groups. The premiums assume a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.
In the previous chart, the average cost of auto insurance in Wisconsin per year with no accidents and a clean driving record is $932. Get written up for two speeding tickets and the average cost hikes up to $1,236, an increase of $305 each year. Then add in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for Uber drivers increases to an average of $2,511. That’s an increase of $1,579, or $132 per month, just for not paying attention while driving!
Get discount Madison insurance
Auto insurance companies that offer coverage for Uber drivers could also offer discounts that could reduce prices by as much as 40% or more if you meet the requirements. Large auto insurance companies and some of their more popular discounts are outlined below.
- State Farm offers premium reductions for multiple policy, good student, passive restraint, defensive driving training, Drive Safe & Save, and driver’s education.
- American Family may include discounts for air bags, bundled insurance, early bird, mySafetyValet, defensive driver, and Steer into Savings.
- GEICO offers discounts including five-year accident-free, military active duty, multi-policy, good student, federal employee, seat belt use, and driver training.
- 21st Century has discounts for theft prevention, good student, anti-lock brakes, driver training, automatic seat belts, air bags, and defensive driver.
- Progressive discounts include continuous coverage, multi-policy, multi-vehicle, homeowner, online quote discount, online signing, and good student.
The illustration below shows the difference between car insurance rates with and without discounts. The information is based on a male driver, no violations or claims, Wisconsin state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with claim-free, homeowner, passive restraint, safe-driver, accident-free, and multiple policy discounts applied. When drivers qualify for the discounts, theamount saved on auto insurance for Uber drivers is 28% or $456.
The information below demonstrates how deductible levels can raise or lower insurance prices when getting quotes for cheap insurance for Uber drivers. The data assumes a single male driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 50-year-old driver could reduce rates by $256 a year by changing from a $100 deductible up to a $500 deductible, or save $384 by changing to a $1,000 deductible. Young drivers, like the Age 20 chart data, have the ability to save $852 or even more by choosing a larger deductible amount. When choosing a higher deductible, it will be required to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
How to find budget-friendly auto insurance for Uber drivers
The list below summarizes some penny-pinching suggestions that can help drivers find low-cost auto insurance.
- Save money by only buying liability coverage for older vehicles
- Do not get into accidents
- Be a safe driver
- Safer vehicles cost less to insure
- Improve your credit score
- Higher deductibles save money
- Keep rates low by comparing prices once a year
The last tip is extremely significant, as we hit on in this write-up. Insurance rates in Madison can be adjusted at any time, so drivers shouldn’t be resistant to buy from a new company if you find a better deal.
Having a favorite company is great, but it’s not recommended if it’s costing you major coinage every year. In just a couple of minutes you could compare rates to find cheaper auto insurance for Uber drivers.
If you wish to have a little guidance when comparing insurance rates for Uber drivers, the agents shown below are willing to help you decide which auto insurance policy would work best for you.
To find a Madison insurance agency close to you, click the button after the list.
- R and S Insurance
1520 Vernon St – Madison, WI 53703 – (608) 251-0022 - American Family Insurance – Daniel Piazza
2601 Crossroads Dr Ste 100 – Madison, WI 53718 – (608) 241-9000 - Farmers Insurance – Laura Beck Nielsen
1915 Winnebago St #102 – Madison, WI 53704 – (608) 237-3747 - GEICO Insurance Agent
2001 W Beltline Hwy Suite 100 – Madison, WI 53713 – (608) 242-9322 - Farmers Insurance – The Arttus Agency
624A Struck St – Madison, WI 53719 – (608) 271-9395