Who Has the Cheapest Auto Insurance for Drivers Requiring a SR22 in Madison?

The make and model of vehicle driven is one of the main factors when looking for the most affordable car insurance for drivers requiring a SR22. Vehicles with lower performance, good crash test ratings, or a positive history of liability claims will cost less to insure than adrenaline junky models.

The next table shows coverage rates for the more affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Madison, WI
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 2WD $3,503
Honda CR-V EX 2WD $3,510
Ford F-150 XL Regular Cab 2WD $3,730
Toyota Prius $3,873
Ford Explorer Eddie Bauer AWD $3,997
Chevrolet Impala LS $4,107
Ford Focus SE 4-Dr Sedan $4,115
Hyundai Elantra GLS 4-Dr Sedan $4,138
Dodge Grand Caravan Hero $4,146
Chevrolet Equinox LTZ 2WD $4,175
Chevrolet Malibu LT $4,188
Chevrolet Silverado 3500HD LT Crew Cab 2WD $4,212
Toyota RAV4 Limited 4WD $4,249
Toyota Tacoma X-Runner 2WD $4,335
Ford Edge Sport AWD $4,343
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Above prices assume single female driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Information does not factor in zip code location which can decrease or increase rates greatly.

Looking at the data, we can expect vehicles like the Ford Escape, Honda CR-V, Ford F-150, and Toyota Prius are likely to be the cheapest vehicles to insure for high risk drivers. The cost of a car insurance policy will be higher anyway because of the fact that there is more claim risk for drivers requiring a SR22, but generally speaking those particular vehicles will have the lowest insurance prices possible.

One of the many factors that are looked at to determine auto insurance rates is where you keep your vehicle in Madison. More populated areas tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from having to pay less for coverage.

The illustration below lists the most costly cities in Wisconsin for drivers requiring a SR22 to buy car insurance in. Madison is ranked #16 with the yearly price of $1,030 for the average policy, which is about $86 each month.

How much does car insurance cost in Madison, WI?
Rank City Average Per Year
1 Wauwatosa $1,359
2 Milwaukee $1,354
3 West Allis $1,234
4 Kenosha $1,230
5 Racine $1,217
6 Greenfield $1,192
7 Oak Creek $1,166
8 Franklin $1,163
9 Beloit $1,130
10 Eau Claire $1,081
11 Wausau $1,079
12 Brookfield $1,077
13 Janesville $1,053
14 Waukesha $1,034
15 La Crosse $1,033
16 Madison $1,030
17 New Berlin $1,029
18 Menomonee Falls $1,026
19 Manitowoc $987
20 West Bend $977
21 Green Bay $969
22 Fond du Lac $965
23 Appleton $964
24 Sheboygan $963
25 Oshkosh $960
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Premium amounts are approximated as the specific area where the vehicle is garaged can modify premium rates noticeably.

Finding reliable, cheap auto insurance is difficult, and figuring out which company has the best auto insurance rates for drivers requiring a SR22 involves even more shopping around. Each insurer uses a little different formula for determining rates in each state, so let’s take a look at the most competitive auto insurance companies in Madison.

We do need to point out that Wisconsin auto insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Improving your credit score, increasing liability limits, or having an accident can cause premium changes that can cause some rates to be more affordable than others.

Cheap Insurance Rates for SR22 Drivers

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USAA has some of the cheapest car insurance rates in Madison at around $598 each year. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance would also be considered some of the cheapest Madison, WI car insurance companies.

As shown in the rates above, if you are a customer of Partners Mutual and switched to USAA, you might realize savings of in the vicinity of $34. Wisconsin drivers with Erie might save as much as $98 a year, and Rockford Mutual customers might reduce prices by as much as $134 a year.

If you want to find out if you’re overpaying, click here to get quotes or quote prices from the following companies.

Remember that these policy prices are averaged across all types of insureds and vehicles and do not factor in an exact vehicle garaging location for drivers requiring a SR22. So the company that is most affordable for your situation may not even be in the top 30 companies in the list above. That helps illustrate why you need to compare prices as often as possible using your own specific driver and vehicle information.

How to get discounts on Madison insurance rates

Save on auto insurance for high risk drivers in MadisonInsurance companies that provide policies for drivers requiring a SR22 may also provide rate discounts that could reduce prices by 25% or more if you meet specific eligibility requirements. Companies and their offered discounts are detailed below.

The diagram below shows the comparison of insurance costs with and without discounts being applied to the rates. The rate quotes are based on a female driver, one at-fault accident and two violations, Wisconsin state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with multiple policy, homeowner, paperless filing, multiple vehicle, passive restraint, and continuous coverage discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on auto insurance for drivers requiring a SR22 is 28% or $539.

Picking a high-quality company can be a challenge considering how many companies there are to choose from in Madison. The ranking information shown below can help you decide which providers you want to consider buying from. The ratings below are only comprised of companies with a nationwide focus, so smaller companies will not be included in the list.

Top 15 Auto Insurance Companies for Drivers Requiring a SR22 in Madison, WI
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 99 100 90 92% A++ 97.4
21st Century 89 86 100 88% A 92.7
GEICO 97 91 88 85% A++ 92.5
Nationwide 88 94 91 88% A+ 91.3
AAA Insurance 93 87 88 87% A 90.8
Liberty Mutual 91 91 92 87% A 90.7
Safeco Insurance 90 93 88 86% A 90.2
State Farm 91 94 80 88% A++ 90.2
Travelers 89 91 94 79% A++ 90.1
American Family 88 92 83 88% A 89.4
Allstate 90 90 84 85% A+ 89.1
Progressive 83 85 99 87% A+ 88.7
Erie Insurance 92 90 82 88% A+ 88.5
The Hartford 87 89 84 87% A+ 88
Esurance 84 88 85 83% A+ 86
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Data Source: Insure.com Best Car Insurance Companies

Your cheap policy may actually be overpriced

Madison auto insurance rates are impacted by many things which can substantially change the price you have to pay. Simply turning a year older, adding a teenager to your policy, or getting a DUI can trigger price changes resulting in some companies being cheaper than before. Not only may your risk profile change, but car insurance companies change the rates they charge in Wisconsin every year to adjust for unexpected claims or profits. A period of increased losses may cause increased policy costs, while less frequent claims can cause cheaper Madison car insurance rates.

For example, the bar chart below shows the cheapest car insurance in Madison, WI for a 40-year-old male driver with no prior accidents, a clean driving record, and good financial standing. If we estimate prices based on his current rating profile, USAA has the best car insurance rates in Madison at $635 a year. This is $526 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance are also on the list of the best Madison, WI auto insurance companies.

The next chart shows rates after we give the driver from the first set of rates some claims, a lower credit score, and a blemish on his driving record. Since each company has a proprietary formula to set policy rates, comparing prices may now present a significantly different list of affordable Madison car insurance companies as shown below.

Nationwide now has the lowest car insurance rate in Madison with Rural Mutual Insurance, Western National, Travelers, and Partners Mutual also being competitive. This example demonstrates why it is critical to perform an extensive rate comparison when trying to find the most budget-friendly auto insurance quotes for drivers requiring a SR22. Auto insurance prices are calculated by many things and change substantially, so the most affordable company the last time you shopped your coverage around may now be quite expensive.