The words “low-cost” and “insurance” really shouldn’t be used together, specifically when you are searching for the best price on coverage for active military. Because it’s so expensive, let’s start the ball rolling by going over a few of the things the can have a considerable influence on car insurance prices, and see if you can shave a little off the next policy you buy.
The vehicle model you are seeking coverage for is one of the largest factors when shopping for cheaper coverage for active military. Vehicles with high performance, a lack of advanced safety features, or high incidents of liability claims will cost substantially more to insure than more modest models. The information below estimates insurance costs for a selection of the most affordable automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $1,179 |
| Honda Accord EX 4-Dr Sedan | $1,186 |
| Honda CR-V EX-L 2WD | $1,211 |
| Jeep Grand Cherokee Laredo 2WD | $1,234 |
| Ford F-150 STX Regular Cab 2WD | $1,253 |
| Ford Explorer Limited 2WD | $1,257 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,271 |
| Ford Focus SES 4-Dr Sedan | $1,278 |
| Honda Odyssey EX-L W/Rear Entertainment | $1,301 |
| Toyota Prius | $1,306 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,324 |
| Nissan Rogue S AWD | $1,326 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,332 |
| Ford Edge SE AWD | $1,326 |
| Chevrolet Impala LT | $1,354 |
| GMC Sierra SLE Crew Cab 2WD | $1,360 |
| Dodge Grand Caravan SXT | $1,382 |
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Estimates do not factor in specific zip code location which can increase or decrease insurance rates noticeably.
Looking at the numbers, we can assume that vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Jeep Grand Cherokee should be a few of the most budget-friendly vehicles to insure for military personnel.
For military personnel, one of the more important criteria that are looked at to help calculate insurance cost is where you keep your car. Areas with increased crime or more people likely pay more, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The next table sorts the most expensive cities in Wisconsin for active military to buy car insurance in. Madison comes in at #12 with the annual price of $1,072 for the average policy, which is approximately $89 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Milwaukee | $1,354 |
| 2 | Wauwatosa | $1,345 |
| 3 | Kenosha | $1,218 |
| 4 | Racine | $1,217 |
| 5 | West Allis | $1,210 |
| 6 | Oak Creek | $1,202 |
| 7 | Greenfield | $1,192 |
| 8 | Beloit | $1,130 |
| 9 | Franklin | $1,129 |
| 10 | Eau Claire | $1,081 |
| 11 | Wausau | $1,079 |
| 12 | Madison | $1,072 |
| 13 | Brookfield | $1,045 |
| 14 | Janesville | $1,042 |
| 15 | Menomonee Falls | $1,037 |
| 16 | La Crosse | $1,033 |
| 17 | Waukesha | $1,023 |
| 18 | New Berlin | $1,018 |
| 19 | West Bend | $1,017 |
| 20 | Manitowoc | $997 |
| 21 | Fond du Lac | $995 |
| 22 | Oshkosh | $980 |
| 23 | Green Bay | $960 |
| 24 | Appleton | $954 |
| 25 | Sheboygan | $935 |
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Rate information is comparative as the specific Madison residence address can raise or lower coverage prices greatly.
Comparison of full coverage and liability-only policies
Saving money when shopping for car insurance is probably important to the majority of drivers, and one of the quickest ways to save on the cost of insurance for active military is to not insure for full coverage. The chart below illustrates the difference between auto insurance rates when comparing full coverage to liability only. Data assumes no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.
Averaged for all age groups, full coverage on your policy costs $1,296 per year more than just buying liability insurance. That is a large expense which might make you wonder if buying full coverage is a good investment. There isn’t a written rule to eliminate full coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $6,000 after the deductible is paid. If you are currently paying more than $600 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are a few cases where dropping physical damage coverage is not advised. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.
The illustration below illustrates how your deductible choice can raise or lower yearly insurance costs when getting quotes for cheap insurance for active military. The premiums are based on a married female driver, comp and collision included, and no additional discounts are factored in.
In the chart above, a 40-year-old driver could lower rates by $212 a year by changing from a $100 deductible up to a $500 deductible, or save $320 by choosing a $1,000 deductible. Even younger insureds, like the age 20 example, could shave up to $524 or even more just by choosing higher deductibles.
When insureds make the decision to increase the deductibles on their policy, it is important to have emergency funds available to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
The agents listed below are a good start to aid you in deciding which auto insurance coverages would be the best in your situation, since some people have coverage questions and would like to have a little guidance when shopping for the best coverage for active military. It can be difficult to find the cheapest rate yourself, so professional agents can give satisfaction knowing your policy gives you adequate protection in the event of a claim.
To find an agent closest to you, click the button at the bottom of the list or click here to compare price quotes now.
Dairyland Auto Insurance
1800 Deming Way – Madison, WI 53717 – (608) 836-3000
Allstate Insurance Agent: Susan Kempfer-Weeks
712 S Gammon Rd – Madison, WI 53719 – (608) 274-4147
Stainbrook Agency
2810 Crossroads Dr #4000 – Madison, WI 53718 – (608) 535-9291
More insurance agents in Madison, WI
Tips to find the cheapest car insurance for active military
Below you’ll find some of the recommended money-saving suggestions that can help Wisconsin drivers find low-cost coverage.
- Save money by insuring older vehicles for liability only
- Increase your comprehensive and collision deductibles
- At-fault accidents will increase rates
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Do not file small claims
- Shop around once a year for cheaper rates
The final tip is particularly critical, as we discussed in this piece. Prices charged by car insurance companies can be adjusted at any time, so drivers shouldn’t be reluctant to switch carriers if you can save money.
Brand loyalty is not necessarily bad, but it’s not a great idea if that devotion results in you overpaying a lot of money every month. It takes less than five minutes to compare prices and find cheaper insurance for active military in Madison.