Who Has the Cheapest Auto Insurance for Used Cars in Madison?

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For pre-owned vehicles, one of the largest components that are looked at to help calculate the amount you pay each year for auto insurance is where you call home in Madison. Areas with high crime rates or more dense population will most likely have higher rates, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.

The next table shows the priciest cities in Wisconsin for used cars to buy an auto insurance policy in. Madison shows up at #11 with the annual price of $1,072 for the average policyholder, which is about $89 each month.

How much does car insurance cost in Madison, WI?
Rank City Annual Rate
1 Milwaukee $1,410
2 Wauwatosa $1,319
3 West Allis $1,210
4 Oak Creek $1,190
5 Kenosha $1,182
6 Racine $1,181
7 Greenfield $1,168
8 Beloit $1,152
9 Franklin $1,129
10 Eau Claire $1,081
11 Madison $1,072
12 La Crosse $1,064
13 Menomonee Falls $1,057
14 Waukesha $1,054
15 New Berlin $1,049
16 Wausau $1,047
17 Brookfield $1,045
18 Janesville $1,042
19 West Bend $987
20 Fond du Lac $985
21 Green Bay $960
22 Oshkosh $960
23 Manitowoc $957
24 Appleton $954
25 Sheboygan $935
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Premium amounts are comparative as specific Madison garaging address can impact price quotes greatly.

The vehicle that is being insured is probably the biggest factor that determines whether or not you can buy cheaper auto insurance for used cars. Vehicles with limited top-end speed, good crash test ratings, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models.

The data below presents coverage prices for the most cost-effective vehicles to buy insurance for.

Cheapest Vehicles to Insure in Madison, WI
Vehicle Insured Estimated Cost for Full Coverage
Ford Edge SE 2WD $1,131
Ford F-150 STX Super Cab 4WD $1,177
Ford Escape XLS 2WD $1,181
Toyota Tacoma 2WD $1,193
Chevrolet Malibu LS $1,216
Toyota Camry LE $1,225
Toyota RAV4 4WD $1,216
Ford Explorer Limited 2WD $1,239
Ford Focus SEL 4-Dr Sedan $1,257
Chevrolet Impala LTZ $1,280
Honda CR-V EX-L 4WD $1,292
Chevrolet Equinox LTZ AWD $1,303
Nissan Altima Hybrid 4-Dr Sedan $1,313
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Price estimates do not factor in vehicle location which can influence rates noticeably.

Based upon the rates shown, you can figure that cars like the Ford Edge, Ford F-150, Ford Escape, and Toyota Tacoma will be the less-costly vehicles to insure for pre-owned vehicles.

Selecting a high-quality auto insurance company can be rather challenging considering how many companies are available to choose from in Madison. The information shown next can help you decide which providers you want to consider when insurance shopping for used cars. The rankings below only include the companies with a significant amount of written premium nationwide, so companies that have a smaller presence are not factored into the list.

Top 10 Large Auto Insurance Providers 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

Top 10 Large Auto Insurance Providers in Madison Ranked by Customer Satisfaction

  1. USAA - 92%
  2. Erie Insurance - 88%
  3. American Family - 88%
  4. State Farm - 88%
  5. Nationwide - 88%
  6. 21st Century - 88%
  7. AAA Insurance - 87%
  8. Liberty Mutual - 87%
  9. Farmers Insurance - 87%
  10. The Hartford - 87%

Discounts on Madison auto insurance

Car insurance for pre-owned vehicles in Madison, WIInsurance companies that offer coverage for used cars could also offer policy discounts that could potentially reduce rates by as much as 25% or more if you are eligible. Large car insurance companies and some of their more popular discounts are detailed below.

The diagram below compares insurance premiums with and without discounts applied to the policy premium. The information is based on a male driver, no violations or claims, Wisconsin state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with defensive driving course, claim-free, accident-free, multiple policy, homeowner, and anti-theft discounts applied. With discounts applied, the average amount saved each year on car insurance for used cars is 28% or $408.

Why you should be shopping around

Wisconsin car insurance rates are determined by lots of factors that will increase or decrease the policy premium. Improving your credit score, moving to a different location, or having an at-fault accident may prompt premium changes resulting in some companies being cheaper than others. Not only that, but insurance companies file new Wisconsin car insurance rates multiple times each year in order to maintain liquidity for claims. Higher than normal claim frequency or severity can result in more expensive premiums, while a better claims history may produce cheaper Madison car insurance rates.

As an example, the chart below compares the cheapest car insurance in Madison, WI for a 45-year-old male driver with no violations or accidents, and a decent credit rating. When quoting prices based on his personal profile, USAA quotes the lowest car insurance rates in Madison at $688 a year. This is $473 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide are the rest of the best Madison, WI auto insurance companies.

The next chart shows rates after we give the driver from the first set of rates a claim surcharge, a little lower credit rating, and a speeding citation. Since each company uses a different method to set premium rates, getting updated rate quotes may result in a slightly different list of the cheapest Madison car insurance companies as shown below.

Pekin Insurance now has the lowest price in Madison with Western National, Integrity Mutual, Travelers, and West Bend Mutual also having competitive pricing. This example demonstrates why consumers need to take the time to compare rates when trying to find the cheapest auto insurance quotes for used cars.

Car insurance prices can be determined by many risk factors and can change substantially, so the cheapest option three years ago may now be quite expensive.