Who Has the Cheapest Car Insurance for Drivers Over Age 60 in Madison?

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The words "economical" and "insurance" probably shouldn't be used in the same sentence, specifically when you are shopping around for the best car insurance for drivers over age 60. To save some money, let's start off by going over a few of the things that influence car insurance rates, and see how we can help you shave a little off the next policy you buy.

Trying to find low-cost insurance is not the easiest thing to accomplish, and figuring out which companies offer the best auto insurance rates for drivers over age 60 will take a bit more work. Each auto insurer uses a little different formula for setting prices, so let's begin by examining the most affordable auto insurance companies in Madison.

It's a good idea to know that Wisconsin auto insurance rates are impacted by many factors which can substantially decrease or increase the price of your policy. Simply having a birthday, moving to a different location, or getting a ticket for careless driving can trigger rate changes that can cause some rates to be much higher than others.

Best Cheap Insurance Rates for Age 60+

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Rankings for the cheapest Wisconsin auto insurance companies
Rank Company Cost Per Year
1 USAA $580
2 Partners Mutual $626
3 Erie $696
4 Rockford Mutual $724
5 Nationwide $752
6 Pekin Insurance $752
7 Integrity Mutual $770
8 Rural Mutual Insurance $779
9 Western National $801
10 Travelers $828
11 State Farm $923
12 West Bend Mutual $926
13 The Hartford $940
14 General Casualty $964
15 Auto Club Group $968
16 Auto-Owners $1,114
17 Farmers $1,141
18 American Family $1,159
19 Progressive $1,164
20 GEICO $1,190
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USAA may have some of the most affordable car insurance rates in Madison at around $580 each year. Partners Mutual, Erie, Rockford Mutual, and Nationwide are also some of the cheapest Madison, WI insurance companies.

In the rate table above, if you are a policyholder with Erie and switched to USAA, you could see yearly savings of upwards of $116. Customers with Rockford Mutual may save as much as $144 a year, and Nationwide insureds might realize rate reductions of up to $172 a year.

It's important to note that these estimates are averages across all insureds and vehicles and are not factoring in a vehicle location for drivers over age 60. So the company that fits your situation best may not even be in the top 30 companies in the list above. That is why you need to compare as many prices as possible using your own driver and vehicle profiles.

For older drivers, one of the largest things that determine the amount you pay each year for auto insurance is where you live in Madison. Regions with larger populations or more claims tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims have the enjoyment of a little cheaper coverage.

The next table sorts the highest-priced areas in Wisconsin for drivers over age 60 in which to purchase auto insurance. Madison is listed at #10 with the annual price of $1,072 for the average insurance policy, which is around $89 each month.

Car insurance prices in Madison
Rank City Premium Per Year
1 Milwaukee $1,410
2 Wauwatosa $1,305
3 West Allis $1,246
4 Kenosha $1,230
5 Racine $1,229
6 Oak Creek $1,190
7 Greenfield $1,156
8 Franklin $1,151
9 Beloit $1,130
10 Madison $1,072
11 La Crosse $1,064
12 New Berlin $1,060
13 Eau Claire $1,059
14 Wausau $1,047
15 Janesville $1,042
16 Brookfield $1,035
17 Menomonee Falls $1,026
18 Waukesha $1,023
19 Oshkosh $989
20 West Bend $977
21 Manitowoc $967
22 Fond du Lac $965
23 Green Bay $941
24 Sheboygan $935
25 Appleton $926
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Premium amounts are comparative as specific Madison zip code can modify prices greatly.

How accidents and violations affect rates

One of the best ways to enjoy cheap auto insurance premiums in Madison for older drivers is to drive cautiously and avoid accidents and traffic citations. The example below demonstrates how speeding tickets and at-fault fender-benders can increase car insurance rates for different age categories. Data assumes a married male driver, full coverage, $250 deductibles, and no additional discounts are factored in.

The chart shows that the average cost of auto insurance in Wisconsin per year with no accidents or violations is $1,042. Get one speeding ticket and the average cost rises to $1,193, an increase of $151 each year. Then include one accident along with the one speeding ticket and the yearly cost of auto insurance for drivers over age 60 increases to an average of $1,620. That's an increase of $578, or $48 per month, just for not paying attention while driving!

The example below shows how choosing a deductible can impact insurance costs when searching for cheap insurance for drivers over age 60. The premium estimates are based on a married female driver, comp and collision included, and no other discounts are factored in.

As shown above, a 30-year-old driver could pocket $182 a year by changing from a $100 deductible up to a $500 deductible, or save $276 by choosing a $1,000 deductible. Young drivers, like the age 20 example, could save as much as $390 annually just by choosing larger deductibles.

If you do raise deductibles, it is necessary to have enough in a savings account to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Your low-price policy may be costing you money

Madison, WI auto insurance rates are influenced by many factors that can increase the cost of a policy. Improving your credit rating, moving to a different location, or having an accident can cause premium changes that can now make some companies cheaper than competitors. Not only may your risk profile change, but companies file new rates multiple times each year to adjust for heavy claims or excess profits. Heavy losses may cause increased rates, while a better loss history may produce cheaper Madison car insurance rates.

The bar chart below shows which companies have the cheapest car insurance in Madison, WI for a 35-year-old male driver with no accidents or violations, and a good credit rating. If we estimate prices based on his current situation, USAA might offer the lowest car insurance rates in Madison at $659 each year. This is $502 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide are also on the list of the cheapest Madison, WI auto insurance companies.

The chart below compares rates after we give the driver from the above example a chargeable accident, a little lower credit rating, and a traffic citation. Since every insurance provider uses their own method for determining rates, comparing quotes most likely will result in a slightly different list of the cheapest Madison car insurance companies as shown below.

Rural Mutual Insurance now has the cheapest auto insurance in Madison with Western National, Integrity Mutual, Travelers, and Partners Mutual now rounding out the top five. This shows why it is critical to compare rates when trying to get the best car insurance quotes for drivers over age 60.

Insurance prices are determined by many different factors and can decrease or increase without notice, so the cheapest option when you bought your policy may now cost much more than other companies.

The auto insurance agents in Madison shown below can probably help you decide which policy fits your needs best, since some drivers wish to have a little guidance when shopping for the best coverage for older drivers. It can be time-consuming to do it yourself, so agents can bring comfort knowing your coverage gives you adequate coverage if you have an accident or claim.

To locate a Madison auto insurance agent nearest to you, click the button below the list or click here to compare price quotes now.

Allstate Insurance Agent: Susan Kempfer-Weeks
712 S Gammon Rd - Madison, WI 53719 - (608) 274-4147

Universal Insurance Agency Corporation
6709 Raymond Rd - Madison, WI 53719 - (608) 216-7060

Hausmann Johnson Insurance
700 Regent St - Madison, WI 53715 - (608) 257-3795

Wisconsin Insurance Security Fund
2820 Walton Cmns W # 135 - Madison, WI 53718 - (608) 242-9473

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How to find low-cost auto insurance for drivers over age 60

The list below summarizes some of the better money-saving suggestions that can help Madison drivers get low-cost auto insurance.

The last tip is certainly vital, as was stressed in the article above. Auto insurance rates adjust frequently, so drivers shouldn't be resistant to switch companies if you can save money. Having a favorite company is great, but we do not recommend it if that faithfulness ends up costing you lots of money. It only takes a couple minutes to compare prices to find cheaper car insurance for drivers over age 60 in Madison.