If saving money is your primary concern, then the best way to get discount BMW X1 insurance in Madison is to start comparing rates regularly from companies that sell auto insurance in Wisconsin.
First, take a little time to learn about the different coverages in a policy and the things you can change to prevent rate increases. Many policy risk factors that cause high rates such as tickets, at-fault accidents, and an unacceptable credit history can be improved by making lifestyle changes or driving safer. Continue reading for additional tips to prevent high rates and find discounts that may have been missed.
Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can provide rates from one company like GEICO or State Farm, while independent agencies can quote prices from multiple sources. Find a Madison insurance agent
Third, compare the quotes to your existing coverage and see if you can save money. If you find a lower rate quote and buy the policy, verify that coverage does not lapse between policies.
Fourth, notify your agent or company of your decision to cancel your existing policy. Submit a down payment along with a completed application to your new agent or company. As soon as coverage is bound, keep the new certificate of insurance in your vehicle.
A good tip to remember is that you’ll want to make sure you compare identical limits and deductibles on each quote request and and to get prices from as many different insurance providers as possible. Doing this ensures an apples-to-apples comparison and a thorough price selection.
It’s an obvious conclusion that insurance companies don’t want you to look for a cheaper policy. Drivers who shop around for a cheaper policy will probably switch to a new company because there is a significant possibility of getting low-cost coverage. A study discovered that drivers who regularly compared rates saved on average $865 annually as compared to drivers who didn’t regularly shop around.
If finding budget-friendly auto insurance is why you’re here, learning the best way to shop and compare car insurance can help you be more efficient.
Locating the most cost-effective car insurance policy in Madison is quite easy if you know the best way to do it. In a nutshell, every vehicle owner who wants cheaper car insurance will most likely find better rates. But Wisconsin car owners do need to understand the way companies determine premium rates and use it to your advantage.
Just keep in mind that comparing a large number of companies helps you find the best offered rates. Some insurance companies are not set up to provide Madison X1 insurance quotes online, so you should also compare quotes on coverage from those companies, too.
The providers in the list below offer comparison quotes in Wisconsin. If multiple companies are listed, it’s a good idea that you compare several of them to find the lowest auto insurance rates.
Cheap Madison car insurance rates with discounts
Not many people think insurance is cheap, but you may qualify for discounts that can dramatically reduce your bill. A few discounts will be applied when you quote, but some may not be applied and must be asked about prior to receiving the credit.
- Early Switch Discount – Some companies provide a discount for switching policies prior to your current X1 insurance policy expiring. Ten percent is about the average savings.
- Defensive Driving Course – Participating in a course teaching defensive driver skills could save 5% or more if your company offers it.
- Braking Control Discount – Cars and trucks that have steering control and anti-lock brakes are much safer to drive and therefore earn up to a 10% discount.
- Life Insurance Discount – If the company offers life insurance, you could get a discounted price on car insurance if you buy a life insurance policy as well.
- Organization Discounts – Participating in qualifying employment or professional organizations could qualify you for a break when shopping for car insurance.
Discounts save money, but please remember that most discount credits are not given to the entire policy premium. Some only reduce the cost of specific coverages such as medical payments or collision. Even though it appears adding up those discounts means a free policy, nobody gets a free ride.
If you would like to choose from a list of providers with discount rates in Wisconsin, click here.
Buying car insurance from Madison insurance agencies
Many people still like to get advice from a local agent and often times that is recommended One of the benefits of comparing car insurance online is the fact that you can find the best rates and still buy from a local agent.
Upon completion of this form (opens in new window), your insurance coverage information is submitted to local insurance agents that can provide free Madison car insurance quotes for your car insurance coverage. There is no reason to contact any agents since price quotes are sent to you instantly. You can most likely find cheaper rates and work with a local agent. If you need to compare prices from one company in particular, you just need to navigate to their website and fill out the quote form the provide.
Picking an provider requires more thought than just the premium amount. The following questions are important to ask.
- If independent agents, which companies do they recommend?
- How much will you save each year by using a higher deductible?
- Are there any discounts for paying up front?
- Is auto insurance their primary focus in Madison?
- Are you getting all the discounts the company offers?
- Do they have a Better Business Bureau rating in Madison?
- What kind of financial rating does the company have?
- Does the company use OEM repair parts?
Choose the right car insurance agent
If you are wanting to find a good insurance agency, you should know the different agency structures and how they function. Car insurance agencies can either be independent or exclusive depending on the company they work for.
Agents that elect to be exclusive can only write with one company and some examples include State Farm, AAA, Farmers Insurance or Allstate. Exclusive agencies are unable to provide other company’s prices so it’s a take it or leave it situation. Exclusive insurance agents are usually well trained on their company’s products which aids in selling service over price. Consumers sometimes choose to use a exclusive agent mainly due to high brand loyalty rather than low price.
The following are Madison exclusive agents that can give you price quote information.
- Steve Aune Agency, Inc. American Family Insurance
658 S Gammon Rd #202 – Madison, WI 53719 – (608) 274-9702 – View Map
- American Family Insurance – Vicki Wagener Agency LLC
1633 Thierer Rd – Madison, WI 53704 – (608) 249-2184 – View Map
- Michael Wegner – State Farm Insurance Agent
425 Grand Canyon Dr – Madison, WI 53719 – (608) 833-9000 – View Map
Independent Insurance Agents
These type of agents often have many company appointments and that is an advantage because they can write policies with any number of different companies depending on which coverage is best. If your premiums go up, they can switch companies in-house and that require little work on your part. When comparing car insurance rates, you will definitely want to get several quotes from at least one independent agent in order to compare the most rates. Most also write with companies that do not advertise much which can be an advantage.
Listed below is a list of independent insurance agencies in Madison that can give you price quote information.
- Spectrum Insurance Group – Madison
525 Junction Rd #8505 – Madison, WI 53717 – (608) 204-7055 – View Map
- The Curtis Agency
2929 Atwood Ave – Madison, WI 53704 – (608) 250-2501 – View Map
- Wisconsin Insurance Security Fund
2820 Walton Cmns W # 135 – Madison, WI 53718 – (608) 242-9473 – View Map
Seven Things That Affect Your Insurance Prices
Consumers need to have an understanding of a few of the rating criteria that play a part in calculating your policy premiums. If you understand what controls the rates you pay, this enables informed choices that will entitle you to cheaper rates.
Better prices for continuous insurance coverage – Driving without insurance can get you a ticket and you may have a hard time finding new coverage because you let your insurance expire. In addition to paying higher premiums, the inability to provide proof of insurance could earn you a fine, jail time, or a revoked license.
Proper usage rating affects prices – Driving more miles each year the more you will pay for insurance. A lot of companies rate vehicles based upon how the vehicle is primarily used. Vehicles left parked in the garage get more affordable rates than those that get driven frequently. Ask your agent if your policy properly reflects the proper vehicle usage. An incorrectly rated X1 may be wasting your money.
Your spouse saves you money – Having a significant other actually saves money when buying insurance. Marriage usually means you are less irresponsible it has been statistically shown that married drivers tend to have fewer serious accidents.
Do you really need to file those insurance claims? – Insurance companies in Wisconsin award better rates to insureds that do not abuse their auto insurance. If you are the type of insured that files lots of claims you can expect either a policy non-renewal or much higher rates. Your car insurance is intended for claims that you cannot pay yourself.
Is your car, truck or SUV built for speed? – The performance of the car you are trying to find cheaper insurance for makes a big difference in your rates. Economy passenger vehicles receive the most favorable rates, but there are many factors that impact the final cost.
How credit rating affects insurance premiums – Having a bad credit score can be a huge factor in calculating your premium rate. So if your credit rating could use some work, you could be paying less to insure your BMW X1 by improving your rating. People with excellent credit tend to be better risks to insure than drivers with lower credit ratings.
Consider raising physical damage deductibles – Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your BMW from damage. Some examples of claims that would be covered would be running into the backend of another car, hail damage, and burglary. The deductibles represent how much money you are required to spend out-of-pocket if a covered claim is submitted. The more of the claim you’re willing to pay, the lower your rates will be.
Insurance loss data for BMW X1 vehicles – Insurance companies analyze claim trends for every vehicle when determining insurance rates. Models that the data shows to have higher number or severity of losses will cost more to insure. The table below shows the historical insurance loss data for BMW X1 vehicles.
For each type of coverage, the claim amount for all vehicles compiled together equals 100. Numbers below 100 suggest losses that are better than average, while numbers that are greater than 100 indicate higher probability of having a loss or statistically larger losses.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|BMW X1 4dr 2WD||99||86||113||90||95||87|
|BMW X1 4dr 4WD||103||96||120||73||69||82|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance is not optional but you don’t have to overpay
Despite the fact that insurance is not cheap in Madison, insurance is required by state law in Wisconsin and it also provides benefits you may not be aware of.
- Most states have minimum liability requirements which means you are required to buy a specific minimum amount of liability in order to be legal. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your BMW X1 with a loan, most banks will stipulate that you have full coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the lender will be forced to insure your BMW for a much higher rate and require you to pay for the much more expensive policy.
- Insurance protects your BMW X1 and your assets. It will also reimburse you for medical transport and hospital expenses for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if you cause an accident and are sued. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car definitely exceed the price paid, particularly for liability claims. Unknowingly, the average driver is overpaying more than $865 each year so you should quote and compare rates at every policy renewal to ensure rates are inline.
What is the best auto insurance company in Madison?
Selecting the right car insurance company can be challenging considering how many choices drivers have in Madison. The company information shown below may help you select which providers to look at when comparing rate quotes.
Top 10 Madison Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Nationwide – A+
- Esurance – A+
- The Hartford – A+
- Erie Insurance – A+
- Progressive – A+
- Allstate – A+
Quote often and quote early
People switch companies for any number of reasons including extreme rates for teen drivers, denial of a claim, high rates after DUI convictions or even lack of trust in their agent. It doesn’t matter what your reason, finding a new company is pretty simple and you could end up saving a buck or two.
When you buy Madison car insurance online, don’t be tempted to reduce needed coverages to save money. There have been many situations where someone dropped uninsured motorist or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy enough coverage at the best cost while not skimping on critical coverages.
Cheaper auto insurance in Madison is possible both online and with local Madison insurance agents, and you need to price shop both in order to have the best price selection to choose from. Some auto insurance companies may not provide rate quotes online and many times these smaller companies work with independent agents.
More tips and info about auto insurance is available in these articles:
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- What Car Insurance is Cheapest for Uber Drivers in Madison? (FAQ)
- How Much is Car Insurance for 17 Year Olds in Madison? (FAQ)
- Who Has Cheap Madison Auto Insurance for Drivers with Bad Credit? (FAQ)
- Who Has the Cheapest Car Insurance for a School Permit in Madison? (FAQ)
- How do I File a Claim? (Insurance Information Institute)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)