A study showed that 70% of consumers have purchased from the same company for over three years, and approximately 40% of consumers have never even compared rates from other companies. Wisconsin consumers can cut their rates by approximately $370 a year just by getting comparison quotes, but they just don't understand the actual amount they would save if they switched to a cheaper policy.
Truthfully, the best way to save money on Saturn Sky insurance is to start comparing prices yearly from insurance carriers that sell auto insurance in Madison. Rate comparisons can be done by following these steps.
- Get a basic knowledge of how insurance companies determine prices and the measures you can take to keep rates down. Many risk factors that cause high rates such as traffic citations and your credit history can be amended by making minor changes in your lifestyle.
- Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from one company like GEICO or Allstate, while independent agencies can quote rates for many different companies.
- Compare the new rate quotes to your current policy premium to see if a cheaper rate is available in Madison. If you can save money and buy the policy, make sure coverage is continuous and does not lapse.
- Give notification to your current company of your intent to cancel your existing policy and submit a down payment and signed policy application to your new insurance company. Make sure you keep the new certificate verifying coverage along with your vehicle registration.
One tip to remember is that you'll want to compare the same deductibles and limits on each quote request and and to get price estimates from as many carriers as you can. Doing this ensures a fair rate comparison and many rates to choose from.
Most larger insurance companies allow consumers to get price estimates on the web. The process is very simple as you just enter your personal and coverage information as requested by the quote form. When complete, their quoting system makes automated requests for credit information and your driving record and gives you a price quote based on many factors. Using the web to get price quotes for Saturn Sky insurance in Madison makes it easy to compare insurance prices and it's also necessary to perform this step if you want to get cheap rates.
If you want to use this form to compare rates, compare rates from the companies below. To compare your current rates, we recommend you enter your coverages identical to your current policy. This helps ensure you will have rate quotes based on the exact same insurance coverage.
The companies shown below are our best choices to provide quotes in Wisconsin. To locate the best car insurance in Madison, we suggest you visit as many as you can to get the lowest price.
Three reasons car insurance is important
Despite the high cost of buying insurance for a Saturn Sky in Madison, car insurance may be required and benefits you in several ways.
- The majority of states have mandatory insurance requirements which means the state requires specific minimum amounts of liability protection in order to drive the car legally. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Saturn Sky, most lenders will stipulate that you have full coverage to ensure they get paid if you total the vehicle. If you default on your policy, the bank will be required to insure your Saturn for a lot more money and require you to pay a much higher amount than you were paying before.
- Insurance safeguards both your assets and your Saturn Sky. It will also reimburse you for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance also covers all legal expenses up to the policy limit in the event you are sued. If you have damage to your Saturn as the result of the weather or an accident, your car insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car are without a doubt worth the cost, particularly when you have a large claim. But the average driver in Wisconsin overpays as much as $830 a year so it's recommended you shop around each time the policy renews to save money.
Auto insurance coverage options for a Saturn Sky
Having a good grasp of your auto insurance policy aids in choosing which coverages you need for your vehicles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Listed below are the usual coverages found on the average auto insurance policy.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like funeral costs, rehabilitation expenses and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Liability car insurance
This coverage protects you from damage that occurs to a person or their property that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/10 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $10,000 paid for damaged property. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability can pay for things like legal defense fees, bail bonds, loss of income and attorney fees. How much coverage you buy is a decision to put some thought into, but it's cheap coverage so purchase as high a limit as you can afford. Wisconsin requires minimum liability limits of 25/50/10 but you should consider buying more coverage.
The illustration below shows why minimum state limits may not be adequate.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle when the "other guys" do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Saturn Sky.
Since many Wisconsin drivers have only the minimum liability required by law (25/50/10), their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive auto coverage
This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things like falling objects, hitting a deer, damage from a tornado or hurricane and hitting a bird. The highest amount a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.
This pays to fix your vehicle from damage resulting from a collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims such as damaging your car on a curb, driving through your garage door and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are older. Drivers also have the option to bump up the deductible on your Sky to save money on collision insurance.
The cheapest Saturn Sky insurance in Madison can be bought from both online companies and from local insurance agents, and you need to comparison shop both to get a complete price analysis. Some insurance companies don't offer rate quotes online and most of the time these regional carriers provide coverage only through independent agencies.
As you go through the steps to switch your coverage, you should never skimp on critical coverages to save a buck or two. There are too many instances where an accident victim reduced liability limits or collision coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your strategy should be to buy a smart amount of coverage at an affordable rate, but do not skimp to save money.
For more information, link through to the articles below:
- Older Driver Statistics (Insurance Information Institute)
- How Much is Auto Insurance for Single Moms in Madison? (FAQ)
- How Much are Madison Auto Insurance Quotes for 18 Year Olds? (FAQ)
- What Car Insurance is Cheapest for Felons in Madison? (FAQ)
- Who Has Cheap Auto Insurance for Drivers with Accidents in Madison? (FAQ)
- What Auto Insurance is Cheapest for Real Estate Agents in Madison? (FAQ)
- How Much are Madison Car Insurance Quotes for a GMC Sierra? (FAQ)
- What Car Insurance is Cheapest for a Toyota 4Runner in Madison? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Ford Focus in Madison? (FAQ)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Keeping Children Safe in Crashes Video (iihs.org)
- Neck Injury FAQ (iihs.org)