Finding reliable, reasonably-priced car insurance is not always easy, and finding out which company offers the lowest-priced car insurance rates for electric cars will take more quotes for comparison. Every insurance company uses their own calculation for setting rates, so first we will examine the most budget-friendly car insurance companies in Madison, WI.
It’s a good idea to be aware that Madison, WI car insurance rates are impacted by many things that control the price you pay for coverage. Price variation is why it is critical to shop around to find the lowest car insurance quotes for electric cars. Rates are determined by many things and change substantially, so the most economical option a year ago may now not even be in the top five.
Find Cheaper Auto Insurance for EV’s
|Rank||Company||Cost Per Year|
|9||Rural Mutual Insurance||$779|
|13||West Bend Mutual||$926|
|15||Auto Club Group||$968|
|Find Your Rate Go|
USAA may have some of the cheapest car insurance rates in Madison at around $604 annually. Partners Mutual, Erie, Rockford Mutual, and Integrity Mutual would also be considered some of the cheaper Madison, WI car insurance companies.
As the example above demonstrates, if you are currently insured with Rockford Mutual and switched to USAA, you may realize an annual savings of in the vicinity of $120. Customers with Integrity Mutual could save as much as $166 a year, and Nationwide customers might lower prices by up to $171 a year.
It’s important to note that these policy rates are averages across all drivers and vehicles in Wisconsin and and are not calculated with an exact location for electric cars. So the car insurance company that fits your situation best may not even be in the top 30 companies in the list above. That emphasizes why you need to get rate quotes using your own driver and vehicle profiles.
The vehicle you are seeking coverage for is a large consideration that determines if you can find the lowest-priced auto insurance for electric cars. Vehicles with lots of horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost substantially more to insure than more economical and safe models.
The data below estimates insurance costs for the more affordable vehicles to insure in Wisconsin.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$944|
|Honda CR-V LX 2WD||$1,033|
|Ford Explorer XLT AWD||$1,057|
|Ford Edge Limited 2WD||$1,095|
|Honda Odyssey EX||$1,101|
|Toyota Tacoma 2WD||$1,095|
|Jeep Wrangler Sport 4WD 2-Dr||$1,114|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,178|
|Toyota Camry SE||$1,185|
|Ford Focus S 4-Dr Sedan||$1,197|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,200|
|Jeep Grand Cherokee Limited 4WD||$1,209|
|Dodge Grand Caravan CV||$1,202|
|Chevrolet Silverado LT Extended Cab 4WD||$1,222|
|Volkswagen Jetta S 4-Dr Sedan||$1,232|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,241|
|Hyundai Sonata SE 4-Dr Sedan||$1,259|
|Toyota RAV4 2WD||$1,261|
|Chevrolet Impala LTZ||$1,289|
|Toyota Corolla XRS||$1,313|
|Chevrolet Malibu LTZ||$1,319|
|GMC Sierra SLE Crew Cab 2WD||$1,313|
|Compare Cheap Rates Go|
Prices based on single male driver age 50, 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. Rate information does not factor in vehicle garaging location which can revise prices considerably.
Looking at the rates, you can presume that makes and models like the Ford Escape, Honda CR-V, Toyota Prius, and Ford Explorer are likely to be a few of the cheaper vehicles to insure for eco-friendly vehicles.
The chart below shows how choosing a deductible can impact annual premium costs when searching for cheap insurance for electric cars. The prices are based on a single female driver, comp and collision included, and no discounts are applied to the premium.
The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $256 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $384 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 category, could save $650 or even more just by choosing higher deductibles. If you make the decision to raise deductibles, it will be necessary to have additional funds squirreled away to enable you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Responsible drivers pay cheaper Madison car insurance rates
The easiest method to obtain affordable car insurance rates in Wisconsin for eco-friendly vehicles is to drive attentively and avoid accidents and traffic violations. The diagram below illustrates how speeding tickets and at-fault collisions drive up premium costs for each different age group. The rates are based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of car insurance in Madison per year with no violations or accidents is $1,136. Factor in one speeding ticket and the average cost rises to $1,286, an increase of $150 each year. Now add in two accidents along with the one speeding ticket and the 12-month cost of car insurance for electric cars goes up to an average of $2,596. That’s an increase of $1,459, or $122 per month, just for not driving attentively!
Don’t stick with an overpriced policy
Wisconsin car insurance rates are calculated based on many things that will increase or decrease the price you pay for coverage. Simply turning a year older, adding a teenager to your policy, or getting a driving violation may cause policy rate changes that may make certain companies cheaper in comparison to the competition.
Additionally, auto insurance companies change rates every year to adjust for heavy claims or excess profits. Heavy losses can result in increased policy costs, while a better claims history may produce cheaper Madison car insurance rates.
To help illustrate this point, the data below shows the company with the cheapest car insurance in Madison, WI for a 35-year-old male driver with no accidents or violations, and a good credit rating. If we compare prices based on his personal profile, USAA may have the cheapest car insurance rates in Madison at $661 a year. This is $500 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance are the remainder of the cheapest Madison, WI auto insurance companies.
The next chart shows rates after we give the driver from above a chargeable accident, bad credit, and a blemish on his driving record. Because every insurance company has a different formula for determining rates in each state, comparing rates may now show a slightly different list of companies as shown below.
Integrity Mutual now has the cheapest auto insurance in Madison with Rural Mutual Insurance, Western National, Travelers, and Partners Mutual also being competitive. This illustrates why Madison drivers need to compare many different companies when trying to find cheap auto insurance rates for electric cars.
Insurance rates are determined by many risk factors and change frequently, so the most economical option three years ago may now be one of the more expensive options.
The insurance agents in Madison listed below are a good start to answer your questions and help you decide which auto insurance policy fits you best, as some people prefer to have professional advice when shopping for cheaper insurance for eco-friendly vehicles. It can be challenging to find the best rates on your own, so insurance agents can add peace of mind knowing you have adequate coverage if you have an accident or claim. To locate a Madison car insurance agency close to you, click the button at the bottom or click here to compare prices now.
3830 Atwood Ave – Madison, WI 53714 – (608) 273-3361
GEICO Insurance Agent
2001 W Beltline Hwy Suite 100 – Madison, WI 53713 – (608) 242-9322
Allstate Insurance Agent: Susan Kempfer-Weeks
712 S Gammon Rd – Madison, WI 53719 – (608) 274-4147
Above and Beyond Insurance
6601 Grand Teton Plaza #7 – Madison, WI 53719 – (608) 203-8666