How Much are Car Insurance Quotes for Low Credit Scores in Madison?

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Wouldn't it be excellent if we could tell you instantly that one perfect company that has the best insurance prices for low credit scores? Unfortunately, it's just not that easy, as there are a whole slew of unknown aspects such as whether or not you have had gaps between policies, if you have any tickets or accidents, and the crime level of your neighborhood, that all impact the price you pay. The information below covers some of these factors and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

The type of vehicle requiring insurance is a large consideration in finding the best cheap auto insurance for low credit scores. Vehicles with lower acceleration and performance, excellent safety ratings, or a low likelihood of having liability claims will cost much less to insure than fast, unsafe models.

The next list shows insurance rates for some of the most budget-friendly vehicles to buy insurance for.

Cheapest Vehicles to Insure in Madison, WI
Make and Model Estimated Cost for Full Coverage
Ford Escape XLT 2WD $967
Dodge Grand Caravan CV $1,078
Ford Edge Limited 2WD $1,116
Honda CR-V EX-L 2WD $1,129
Toyota RAV4 Limited 4WD $1,136
Ford F-150 FX2 2WD $1,158
Ford Focus SEL 4-Dr Sedan $1,176
Chevrolet Impala LTZ $1,196
Honda Odyssey Touring $1,218
Chevrolet Equinox LTZ AWD $1,225
Honda Accord EX 2-Dr Coupe $1,281
Volkswagen Jetta SE 2.5 Station Wagon $1,289
Toyota Camry Hybrid $1,303
Toyota Prius $1,312
Ford Explorer Limited 2WD $1,327
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,334
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $1,352
Toyota Camry XLE $1,372
Chevrolet Malibu LTZ $1,396
GMC Sierra 2500HD SLE Crew Cab 4WD $1,403
Ford Fusion S 4-Dr Sedan $1,396
Jeep Grand Cherokee Laredo 2WD $1,404
Nissan Altima 3.5 SR 4-Dr Sedan $1,396
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Data variables include 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, homeowner, multi-policy, claim-free, and safe-driver. Estimates do not factor in specific zip code location which can influence insurance rates considerably.

By looking at the data, makes and models like the Ford Escape, Dodge Grand Caravan, Ford Edge, and Honda CR-V will be the less-costly vehicles to insure for bad credit.

Figuring out which companies offer the lowest-priced car insurance rates for low credit scores requires more time in order to find the most economical policy. Each auto insurer has their own process for setting rates, so let's rank the car insurance companies that tend to have lower prices in Madison, WI.

It's a good idea to be aware that Madison, WI car insurance rates are based on many factors which can substantially decrease or increase the price you have to pay for coverage. Improving your credit score, moving to a new city, or getting a few speeding tickets can produce rate changes that can cause some rates to be cheaper than others.

Lowest Insurance Price Quotes in Wisconsin

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Rankings for the cheapest Wisconsin auto insurance companies
Rank Company Cost Per Year
1 USAA $598
2 Partners Mutual $614
3 Erie $696
4 Rockford Mutual $754
5 Rural Mutual Insurance $756
6 Integrity Mutual $762
7 Pekin Insurance $768
8 Nationwide $775
9 Western National $777
10 Travelers $828
11 West Bend Mutual $899
12 The Hartford $912
13 State Farm $932
14 Auto Club Group $939
15 General Casualty $954
16 Progressive $1,118
17 American Family $1,137
18 Auto-Owners $1,148
19 Farmers $1,176
20 GEICO $1,190
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USAA may offer some of the best car insurance rates in Madison at around $598 a year. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance also are some of the cheapest Madison, WI insurance companies.

As shown above, if you are insured with Rural Mutual Insurance and switched to Partners Mutual, you could earn a yearly savings of approximately $142. Policyholders with Integrity Mutual may save as much as $148 a year, and Pekin Insurance customers might lower prices by $154 a year.

Remember that these premium estimates are averaged across all types of drivers and the different vehicles they drive and do not take into consideration an exact zip code location for low credit scores. So the insurer that has the cheapest price for you may not even be in the top 30 companies shown above. That helps illustrate why you need to quote rates from many companies using your own individual information.

One of the many factors that determine the amount you pay for auto insurance is where you live. Areas with more people or more claims tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper car insurance.

The information below lists the most costly cities in Wisconsin for low credit scores to purchase a policy in. Madison shows up at #15 with the yearly price of $1,040 for the average policy, which is approximately $87 per month.

How much is auto insurance in Madison, WI?
Rank City Annual Premium
1 Milwaukee $1,368
2 Wauwatosa $1,305
3 West Allis $1,234
4 Racine $1,217
5 Greenfield $1,204
6 Oak Creek $1,202
7 Kenosha $1,194
8 Franklin $1,163
9 Beloit $1,118
10 Menomonee Falls $1,068
11 La Crosse $1,064
12 Eau Claire $1,049
13 Wausau $1,047
14 Janesville $1,042
15 Madison $1,040
16 Brookfield $1,035
17 New Berlin $1,029
18 Waukesha $1,023
19 Oshkosh $989
20 West Bend $977
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Annual rates are approximated as the vehicle garaging location can impact coverage rates significantly.

How to get discounts on Madison insurance rates

Car insurance for bad credit in Madison, WIAuto insurance companies that sell policies for low credit scores may also offer discounts that may potentially lower prices by as much as 30% if you meet certain criteria. A list of companies and their possible discounts are outlined below.

The illustration below compares insurance prices with and without discounts applied. The rate quotes are based on a male driver, a clean driving record, no claims, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with safe-driver, anti-theft, claim-free, multiple vehicle, marriage, and multiple policy discounts applied. When discounts are factored in, theaverage yearly reduction on car insurance for low credit scores is 27% or $334.

Irresponsible driving raises your rates

The recommended way to get the most affordable car insurance prices for bad credit is to be a careful driver and avoid getting tickets or having accidents. The information below shows how traffic citations and at-fault collisions can raise car insurance costs for different age groups. The costs are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.

In the prior example, the average cost of a car insurance policy in Wisconsin per year with no accidents or violations is $1,100. Get two speeding tickets and the average cost jumps to $1,509, an increase of $409 each year. Now throw in one accident along with the two speeding tickets and the annual cost of car insurance for low credit scores jumps again to an average of $1,931. That's an increase of $830, or $69 per month, just for not driving attentively!

The illustration below illustrates how your choice of deductibles can affect insurance prices when searching for cheap insurance for low credit scores. The costs are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.

A 30-year-old driver could cut expenses by $214 a year by increasing from a $100 deductible up to a $500 deductible, or save $322 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old chart data, could drop their prices as much as $622 or even more just by using higher deductibles.

If you do decide to increase your deductibles, it will now be necessary to have plenty of discretionary funds to be able to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Why are you paying too much for car insurance?

Madison car insurance rates are calculated based on many things that will increase or decrease the price of coverage. Improving your credit rating, adding a teenager to your policy, or getting a driving violation may cause policy rate changes that can now make some companies more affordable than before.

Also, insurers amend pricing at least once a year to adjust for unexpected claims or profits. Larger than normal claims may cause increased rates, while lower claim expenses may produce more affordable Madison car insurance rates.

For instance, the chart below demonstrates which company has the cheapest car insurance in Madison, WI for a 30-year-old female driver with no prior accidents, a clean driving record, and good financial standing. When quoting prices based on her current situation, USAA might quote the most affordable car insurance rates in Madison at $666 annually. This is $495 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance are the remainder of the best Madison, WI auto insurance companies.

Now we will pretend the driver from the first rate comparison some claims, poor credit, and an imperfect driving record. Due to the fact that every insurance company has their own formula for establishing rates, comparing rates could now result in a different ranking of the cheapest car insurance companies in Madison as shown below.

Pekin Insurance now has the lowest price in Madison with Integrity Mutual, Western National, Travelers, and Partners Mutual now being in the top five. This shows why it is critical to perform a complete rate comparison when trying to find the best car insurance quotes for low credit scores. Rates consist of many different factors and change frequently, so the most affordable company two years ago may now be quite expensive.