Who Has the Cheapest Auto Insurance Quotes for Safe Drivers in Madison?

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The words "economical" and "insurance" really shouldn't be used in the same sentence, in particular when you are trying to find the cheapest car insurance for safe drivers. Because it's not cheap, let's get started by showing you some of the things that impact insurance prices, and find out if we can help you cut the cost of the next policy you buy.

Deciphering which company offers the cheapest insurance rates for safe drivers will take more work than just comparing a company or two. Each auto insurance company has their own formula to establish rates, so we need to take a look at the insurance companies with the overall cheapest rates in Madison.

It's important to know that Madison, WI insurance rates are determined by lots of factors that can increase the price of your policy. Simply having a birthday, buying a home instead of renting, or getting a couple of tickets may cause policy rate changes that can now make some companies cheaper than competitors.

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Rankings for the cheapest car insurance companies in Wisconsin
Rank Company Cost Per Year
1 USAA $598
2 Partners Mutual $632
3 Rockford Mutual $724
4 Erie $724
5 Rural Mutual Insurance $749
6 Nationwide $752
7 Pekin Insurance $768
8 Integrity Mutual $786
9 Western National $793
10 Travelers $796
11 The Hartford $922
12 West Bend Mutual $926
13 State Farm $932
14 Auto Club Group $939
15 General Casualty $954
16 Auto-Owners $1,114
17 Progressive $1,118
18 Farmers $1,130
19 American Family $1,159
20 GEICO $1,202
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USAA may have some of the most affordable car insurance rates in Madison at around $598 each year. Partners Mutual, Rockford Mutual, Erie, and Rural Mutual Insurance also make the cut as some of the most economical Madison, WI auto insurance companies.

As shown above, if you currently have coverage with Erie and switched to USAA, you could realize a yearly price reduction of around $126. Policyholders with Rural Mutual Insurance could save as much as $151 a year, and Nationwide insureds might see rate reductions of $154 a year.

These premium estimates are averages for all types of drivers and the different vehicles they drive and and are not figured with a specific zip code for safe drivers. So the company that fits your needs best may not even be in the list above. That points out the importance of why you need to compare rates from multiple companies using your own driver and vehicle profiles.

One of the many considerations that are used to help calculate the amount you pay for auto insurance is your address in Madison. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.

The information below lists the most costly cities in Wisconsin for safe drivers to purchase car insurance in. Madison is ranked #17 having an annual price of $1,030 for coverage, which is around $86 monthly.

Car insurance prices in Madison
Rank City Annual Rate
1 Milwaukee $1,368
2 Wauwatosa $1,305
3 West Allis $1,198
4 Kenosha $1,182
5 Racine $1,181
6 Greenfield $1,156
7 Oak Creek $1,154
8 Beloit $1,152
9 Franklin $1,151
10 Eau Claire $1,081
11 Waukesha $1,065
12 New Berlin $1,060
13 La Crosse $1,053
14 Brookfield $1,045
15 Janesville $1,042
16 Wausau $1,037
17 Madison $1,030
18 Menomonee Falls $1,026
19 West Bend $987
20 Fond du Lac $985
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Premium costs are comparative as specific Madison zip code can decrease or increase rates considerably.

The vehicle model you are seeking coverage for is probably the largest consideration when comparison shopping for the most economical car insurance for safe drivers. Vehicles with economical engines, good safety features, or low incidents of liability claims will cost quite a bit less to insure than fast, unsafe models.

The list below features coverage costs for a selection of the cheaper automobiles to buy insurance for.

Cheapest Vehicles to Insure in Madison, WI
Vehicle Estimated Cost for Full Coverage
Toyota Prius $1,101
Dodge Grand Caravan SE $1,112
Honda CR-V LX 2WD $1,121
Ford Escape XLS 4WD $1,128
Honda Accord LX-P 4-Dr Sedan $1,121
GMC Sierra SL Extended Cab 2WD $1,175
Chevrolet Malibu LS $1,180
Jeep Wrangler Sport Islander Package 4WD 2-Dr $1,190
Ford F-150 XL Super Cab 4WD $1,215
Nissan Rogue S 2WD $1,260
Ford Edge Limited 2WD $1,262
Ford Fusion SE 4-Dr Sedan $1,270
Volkswagen Jetta 2.0T 4-Dr Sedan $1,262
Honda Odyssey EX $1,267
Chevrolet Impala LT $1,287
Toyota RAV4 2WD $1,292
Ford Explorer Limited 4WD $1,312
Ford Focus SES 2-Dr Coupe $1,325
Toyota Camry LE $1,328
Chevrolet Equinox LT AWD $1,335
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Premium 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 multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Price estimates do not factor in your specific Madison, WI location which can decrease or increase rates substantially.

Based upon the table data, you can see that models like the Toyota Prius, Dodge Grand Caravan, Honda CR-V, and Ford Escape are likely to be a few of the most affordable vehicles to insure for good drivers.

What is the best insurance company in Madison?

Picking the highest-rated car insurance company is hard considering how many choices there are in Madison. The company rank data displayed below could help you pick which insurers to look at when trying to find cheaper insurance for safe drivers. These ratings are only made up of large, nationwide insurance companies, so companies without a large exposure are not factored into the list.

Top 10 Large Auto Insurance Companies in Madison Ranked by A.M. Best Rating

  1. USAA - A++
  2. Travelers - A++
  3. State Farm - A++
  4. GEICO - A++
  5. Nationwide - A+
  6. Esurance - A+
  7. The Hartford - A+
  8. Erie Insurance - A+
  9. Progressive - A+
  10. Allstate - A+

Top 10 Large Auto Insurance Companies in Madison Ranked by Customer Service

  1. State Farm
  2. Nationwide
  3. Safeco Insurance
  4. American Family
  5. Travelers
  6. Liberty Mutual
  7. GEICO
  8. Allstate
  9. Erie Insurance
  10. The Hartford

Should you buy full coverage?

Reducing premiums for insurance is probably important to most drivers, and an effective way to reduce the cost of insurance for safe drivers is to not buy comprehensive and collision coverage. The diagram below shows the comparison of auto insurance rates with full coverage and liability only. Data assumes no accidents or driving violations, $1,000 deductibles, drivers are single, and no discounts are factored in.

Averaged out for all age groups, full coverage costs an extra $974 per year over and above liability only. That may make you wonder when is it safe to stop buying full coverage. There is no set rule of when to drop physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your vehicle's replacement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $9,000 after the deductible is paid. If premiums are more than $900 a year for full coverage, then it might be time to buy liability only.

There are a few situations where removing full coverage is not a good plan. If you haven't paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.

The benefit of shopping around

Wisconsin insurance rates are impacted by many things which can substantially decrease or increase the price of your policy. Simply having a birthday, increasing liability limits, or having an accident can produce rate changes that may make certain companies more affordable than competitors.

Not only may your situation change, but auto insurance companies change their prices as often as every three months in order to be able to pay unexpected claims. Significantly higher claims may result in rate hikes, while a better loss history may produce more affordable Madison car insurance rates.

As an example, the bar chart below demonstrates which company has the cheapest car insurance in Madison, WI for a 30-year-old male driver with a clean driving record, no accidents, and good financial standing. If we estimate prices based on his personal profile, USAA might quote the most affordable car insurance rates in Madison at $672 annually. This is $489 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance are also included in the most affordable Madison, WI auto insurance companies.

In this next rate comparison, we will give the driver from the above example a claim, slightly worse credit, and a stop sign violation. Since each auto insurer has a unique formula for determining prices, comparing quotes most likely will result in a completely different list of the cheapest car insurance companies in Madison as shown below.

Nationwide now has the best auto insurance rate in Madison with Integrity Mutual, Western National, Travelers, and Partners Mutual now being in the top five. This example demonstrates why it is critical to compare rates when trying to get the most affordable insurance rates for safe drivers. Car insurance prices are made up of many different factors and change substantially, so the lowest-price company when you last compared rates may now be one of the more expensive options.