Cheap Insurance for a Chevy Traverse in Madison

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Chevy Traverse insurance
Chevy Traverse insurance image courtesy of QuoteInspector.com

Insurance rates Chevy Traverse in MadisonWe don't have to tell you that car insurance companies want to keep you from comparing rates. Consumers who shop around once a year will probably switch to a new company because of the good chance of finding a lower-priced policy. A study showed that people who shopped around annually saved $3,400 over four years compared to drivers who didn't regularly shop around.

If finding budget-friendly auto insurance is your objective, then understanding how to choose a company and compare insurance can make the process less intimidating.

If you want to save money, the best way to get more affordable Chevy Traverse insurance in Madison is to start doing a yearly price comparison from insurers that sell auto insurance in Wisconsin.

  • Step 1: Gain an understanding of how auto insurance works and the things you can change to drop your rates. Many rating factors that result in higher rates like traffic violations and a less-than-favorable credit rating can be improved by making minor changes in your lifestyle. Keep reading for tips to lower rates and find more discounts that you may not know about.
  • Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from a single company like Progressive or State Farm, while independent agents can quote prices for a wide range of companies. View a list of agents
  • Step 3: Compare the new quotes to the price on your current policy to see if a cheaper price is available. If you find a lower rate and buy the policy, make sure coverage is continuous and does not lapse.
  • Step 4: Provide written notification to your current company of your intent to cancel your current coverage and submit any necessary down payment along with the completed application to the new company. Make sure you safely store the proof of insurance paperwork in an easily accessible location in your vehicle.

An important part of this process is to make sure you're comparing the same level of coverage on each quote request and and to get rates from as many car insurance companies as possible. Doing this guarantees a level playing field and the best price selection.

Chevy Traverse insurance rates and statistics

The premium information shown next outlines estimates of insurance costs for Chevy Traverse models. Having insight into how rate quotes are figured can be of help when making smart choices when buying a policy.

Chevrolet Traverse Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $138 $224 $254 $16 $76 $708 $59
Traverse LS AWD $156 $224 $254 $16 $76 $726 $61
Traverse LT 2WD $156 $224 $254 $16 $76 $726 $61
Traverse LT AWD $156 $272 $254 $16 $76 $774 $65
Traverse LTZ 2WD $156 $272 $254 $16 $76 $774 $65
Traverse LTZ AWD $156 $272 $254 $16 $76 $774 $65
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Prices do not factor in specific location information which can influence insurance rates considerably.

How You Can Control Chevy Traverse Insurance Premiums

A large part of saving on auto insurance is knowing some of the factors that come into play when calculating the price you pay for auto insurance. If you understand what positively or negatively impacts your premiums, this enables you to make decisions that can help you get lower premium levels. Lots of factors are used in the calculation when you get your auto insurance bill. Some of the criteria are obvious like your driving record, but other factors are more transparent like your continuous coverage or your commute time.

  • Battle of the sexes - Statistics have proven females are less aggressive when driving. However, don't assume that men are worse drivers. They both tend to get into fender benders at a similar rate, but males have accidents that have higher claims. Men also tend to get more serious tickets such as DWI and reckless driving. Males from age 16 to 21 generally have the highest accident percentage so it costs more to insure them.

    The diagram below illustrates the difference between Chevy Traverse annual premium costs for male and female drivers. The premiums assume no claims or violations, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are factored in.

  • Avoid policy lapses - Allowing your coverage to lapse is a sure-fire way to drive up your policy premiums. And not only will your rates increase, not being able to provide proof of insurance can result in a hefty fine and possibly a revoked license. You will then be forced to provide proof of insurance in the form of an SR-22 filing with the Wisconsin department of motor vehicles.
  • Mature drivers save more - More experienced drivers tend to be more responsible, cause fewer claims and accidents, and get fewer tickets. Youthful drivers are known to be easily distracted when at the wheel of a vehicle therefore auto insurance rates are much higher.

    The data below uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.

  • Car and home together may be cheaper - Many companies apply better rates for people who carry more than one policy such as combining an auto and homeowners policy. Discounts can amount to ten or even up to twenty percent in some cases. Even with this discount applied, it's still a good idea to compare Chevy Traverse rates in Madison to help guarantee you have the best rates.
  • Improve your credit rating and save - A driver's credit rating can be an important factor in calculating your auto insurance rates. Therefore, if your credit history is not that good, you could pay less to insure your Chevrolet Traverse if you clean up your credit. People that have very high credit ratings tend to be more responsible and file fewer claims than drivers with lower credit scores.
  • Avoid tickets and save - Just one moving violation could increase your next policy renewal substantially. Drivers with clean records have lower premiums than bad drivers. Drivers who get dangerous citations like DUI or willful reckless driving are required to submit a SR-22 or proof of financial responsibility with their state's licensing department in order to prevent a license revocation.

    The diagram below illustrates how traffic citations and accidents increase Chevy Traverse insurance rates for each different age category. The rates are based on a married male driver, full coverage, $500 deductibles, and no other discounts are factored in.

  • No claims equals better prices - Auto insurance companies in Wisconsin generally give lower rates to drivers who file claims infrequently. If you're an insured who likes to file claims you can definitely plan on either higher rates or even cancellation. Insurance coverage is designed for major claims that would cause financial hardship.
  • Better prices on vehicles with better crash test results - Vehicles with good safety scores can get you lower premiums. The safest vehicles protect occupants better and fewer serious injuries translates into fewer and smaller insurance claims and more competitive rates for policyholders.
  • Chevy Traverse claim data - Companies use past loss statistics for each vehicle to determine a price that will be profitable for them. Vehicles that statistically have higher number or severity of losses will cost more to insure. The table below demonstrates the insurance loss data for Chevy Traverse vehicles.

    For each type of coverage, the claim amount for all vehicles, without regard to make or model, is equal to 100. Values that are 100 or less suggest losses that are better than average, while values that are above 100 indicate a higher chance of having a claim or an increased chance of a larger loss.

    Chevrolet Traverse Insurance Claim Statistics
    Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Chevrolet Traverse 4dr 2WD 75 101 72 93 90 90
    Chevrolet Traverse 4dr 4WD 72 91 82 78 76 78
    BETTER
    AVERAGE
    WORSE

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

How to find a good Madison car insurance company

Insuring your vehicle with the right insurance company is hard considering how many different companies there are to choose from in Madison. The ranking data listed below can help you analyze which auto insurance companies to look at to insure your vehicles.

Top 10 Madison Car Insurance Companies by A.M. Best Rank

  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 Madison Car Insurance Companies Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. Liberty Mutual
  6. State Farm
  7. Allstate
  8. Safeco Insurance
  9. Travelers
  10. 21st Century

One last note

When shopping online for auto insurance, it's not a good idea to buy less coverage just to save a little money. In many cases, an accident victim reduced uninsured motorist or liability limits only to regret at claim time that the savings was not a smart move. Your strategy should be to purchase a proper amount of coverage at the best price.

You just read a lot of ways to reduce Chevy Traverse insurance rates online in Madison. The most important thing to understand is the more price quotes you have, the better chance you'll have of finding cheaper Madison car insurance quotes. You may even discover the biggest savings come from some of the smallest insurance companies.

Discount Chevy Traverse insurance in Madison can be sourced both online as well as from insurance agents, and you should be comparing both to have the best chance of lowering rates. A few companies may not offer online price quotes and usually these small insurance companies work with independent insurance agents.

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