Who Has the Cheapest Car Insurance for a School Permit in Madison?

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You have seen the commercials from car insurance companies like The General and Farmers that say if you switch you'll get the cheapest rates, so drivers should just choose any one of them, right?

It's just not that simple, as there are a ton of unknowns like what level of deductibles you need, how safe your vehicle is, the amount of liability coverage you want, and if you have a tendency to get pulled over, that all impact the price you pay. This article will detail the best ways to avoid paying too much and will give you a good start to your coverage search.

The vehicle model you are buying coverage for is one of the largest factors when comparing the most economical car insurance for a school permit. Vehicles with lots of horsepower, a lack of modern safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer models. The data below ranks auto insurance costs for a selection of the cheapest automobiles to insure in Wisconsin.

Cheapest Vehicles to Insure in Madison, WI
Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 4WD $3,737
Honda CR-V EX 2WD $3,747
Honda Accord LX-P 4-Dr Sedan $3,737
Volkswagen Jetta S 2.5 Station Wagon $3,999
Toyota Prius $4,034
Honda Odyssey EX $4,400
Ford Edge SEL AWD $4,406
Toyota RAV4 Sport 4WD $4,433
Chevrolet Silverado LS Extended Cab 4WD $4,440
Chevrolet Impala LT $4,433
Dodge Grand Caravan Crew $4,468
Chevrolet Malibu LT $4,478
Toyota Tacoma Double Cab TRD Sport Package 4WD $4,468
Ford F-150 Lariat Super Cab 4WD $4,474
Ford Explorer Limited 4WD $4,468
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Prices above based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in specific Madison, WI garaging location which can modify auto insurance rates substantially.

Based upon the rates shown, you can conclude that cars like the Ford Escape, Honda CR-V, Honda Accord, and Volkswagen Jetta are most likely to be the cheaper vehicles to insure for a learners permit. Prices will tend to be more expensive anyway because of the fact that there is more exposure for a school permit, but in general those makes and models will most likely have the lowest prices that you'll find.

Finding reliable, low-cost auto insurance is hard enough, and determining which company has the best insurance rates for a school permit may require even more diligence. Every insurance company has their own unique process to set premium rates, so let's begin by examining the most budget-friendly insurance companies in Madison, WI.

Keep in mind that Wisconsin insurance rates are impacted by many factors which can substantially decrease or increase the policy price. Simply turning a year older, buying a higher-value vehicle, or having an accident can trigger rate changes that can cause some rates to be more affordable than others.

Best Insurance Companies for Students

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USAA normally has some of the most affordable car insurance rates in Madison at around $586 per year. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance also make the cut as some of the cheapest Madison, WI auto insurance companies.

As shown above, if you buy coverage from Rockford Mutual and switched to Partners Mutual, you could realize an annual premium reduction of upwards of $98. Drivers with Rural Mutual Insurance could save as much as $130 a year, and Pekin Insurance policyholders might realize rate reductions of up to $142 a year.

To get a fast rate comparison, click here to start your custom quote or click through to the companies below.

It's important to note that these policy rates are averaged across all types of drivers and the different vehicles they drive and and are not figured with an exact zip code location for a school permit. So the auto insurance company that is best for you may not even be in the top 30 companies in the list above. That is why you need to compare prices as often as possible using your own personal information and vehicle type.

Careless Madison drivers pay higher rates

In a perfect world, the best way to earn good insurance prices in Madison for a learners permit is to be an attentive driver and avoid tickets and accidents. The information below shows how traffic citations and fender-benders can increase insurance premiums for each different age category. The premiums are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.

In the prior example, the average cost of an auto insurance policy in Wisconsin per year with a clean driving record and no accidents is $812. Add in two speeding tickets and the average cost rises to $1,144, an increase of $332 each year. Then add one accident along with the two speeding tickets and the annual cost of insurance for a school permit increases to an average of $1,483. That's an increase of $671, or $56 per month, just for not being a responsible driver!

Wisconsin insurance companies ranked

Picking the highest-rated car insurance company is difficult considering how many companies are available to choose from in Wisconsin. The ranking data in the lists below could help you decide which coverage providers to look at when comparing rate quotes.

These ratings are only comprised of companies who write in the majority of U.S. states, so companies that have a smaller presence will not be included in the list. To compare price quotes from these and other competitive companies, click this link.

Best Ten Insurance Companies for a School Permit in Wisconsin
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
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Data Source: Insure.com Best Car Insurance Companies

Full coverage rates compared to liability-only

Finding the cheapest insurance is the goal of most vehicle owners, and an easy way to pay lower rates for insurance for a school permit is to not buy comprehensive and collision coverage. The chart below shows the difference between auto insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on a clean driving record, no claims, $100 deductibles, drivers are not married, and no discounts are factored in.

If the expense is averaged for all age categories, full coverage costs an additional $1,327 per year over and above liability coverage. At some point, almost every driver questions if paying for full coverage is a waste of money. There is no definitive formula of when to exclude comp and collision coverage, but there is a general school of thought. If the annual cost of having full coverage is more than around 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.

The importance of shopping around

Madison insurance rates are based on many factors that control the price you pay. Getting older, increasing deductibles, or getting a couple of tickets may cause policy rate changes resulting in some rates now being more affordable than the competition.

Additionally, companies modify rates as needed to ensure their profitability. Larger than normal claims may cause higher priced premiums, while a better claims history can produce cheaper Madison car insurance rates.

To help illustrate this point, the chart below shows the cheapest car insurance in Madison, WI for a 45-year-old male driver with a good driving record, no prior claims, and a high credit rating. When quoting prices based on his current risk factors, USAA may have the most affordable car insurance rates in Madison at $645 each year. This is $516 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide are the remaining cheapest Madison, WI auto insurance companies.

The next chart shows rates after we give the driver in the first example a claim or two, a lower credit rating, and a few traffic violations. Due to the fact that every insurance company has a different formula to set policy rates, comparing insurance quotes will most likely result in a different set of cheap Madison auto insurance companies as shown below.

Rural Mutual Insurance now has the best auto insurance rate in Madison with Integrity Mutual, Western National, Travelers, and West Bend Mutual also being competitive. This shows why Madison drivers need to compare many different companies when trying to find the most budget-friendly car insurance quotes for a school permit. Auto insurance prices can be determined by many factors and can decrease or increase without notice, so the cheapest rate six months ago may now be an over-priced policy.