Shocking but true, most auto insurance buyers renewed their policy with the same company for a minimum of four years, and practically 40% of auto insurance customers have never even compared rates from other companies. Wisconsin insurance shoppers could pocket approximately 30% a year by just shopping around, but most undervalue how much savings they would realize if they swap their current policy for a cheaper one.
The best way we recommend to find lower priced car insurance rates is to compare prices regularly from companies who can sell car insurance in Madison. This can be done by following these steps.
- Get a basic knowledge of how insurance works and the measures you can control to keep rates low. Many things that drive up the price like tickets, at-fault accidents, and an unacceptable credit rating can be amended by making minor driving habit or lifestyle changes.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like GEICO and State Farm, while agents who are independent can provide rate quotes from many different companies.
- Compare the new rates to the price on your current policy and see if you can save money. If you find better rates and make a switch, make sure coverage does not lapse between policies.
- Tell your current company of your intention to cancel the current policy and submit payment along with a signed and completed policy application for your new policy. Immediately upon receiving it, place your new certificate verifying coverage along with your vehicle registration.
One thing to remember is to try to use identical limits and deductibles on every price quote and and to get prices from as many different insurance providers as possible. Doing this ensures a fair rate comparison and a complete selection of prices.
Finding and buying the lowest cost car insurance in Madison is not that difficult. If you’re already insured or need a new policy, follow these tips to save money without reducing coverage. Consumers just have to use the proper way to buy car insurance over the internet.
Finding cheap insurance quotes is a great way to save money. The only requirement is to take a few minutes to get quotes provided by online insurance companies.
It’s so simple to compare insurance quotes online replaces the need to waste gas driving to local insurance agencies. The internet has reduced the need for local agents unless you prefer the professional abilities of a local agency. If you prefer, some companies allow you to price shop your coverage online but buy the policy through an agent.
The companies in the list below provide free rate quotes in Wisconsin. If you want the cheapest auto insurance in Madison, we suggest you click on several of them to get a more complete price comparison.
Rates and information analytics
The rate table shown below outlines different insurance policy prices for Toyota Avalon models. Having a better idea how policy premiums are formulated is important for you to make smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Avalon XL | $140 | $248 | $220 | $14 | $66 | $688 | $57 |
| Avalon XLS | $140 | $294 | $220 | $14 | $66 | $734 | $61 |
| Avalon Limited | $156 | $294 | $220 | $14 | $66 | $750 | $63 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in specific zip code location which can revise prices significantly.
Should you raise deductibles?
When comparing car insurance rates, the most common question is the level to set your comp and collision deductibles. The rates below help summarize the difference in cost when you select higher and lower policy deductibles. The first price estimate table uses a $250 deductible for comp and collision and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Avalon XL | $200 | $300 | $196 | $12 | $58 | $791 | $66 |
| Avalon XLS | $200 | $352 | $196 | $12 | $58 | $843 | $70 |
| Avalon Limited | $224 | $352 | $196 | $12 | $58 | $867 | $72 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Avalon XL | $124 | $188 | $196 | $12 | $58 | $578 | $48 |
| Avalon XLS | $124 | $222 | $196 | $12 | $58 | $612 | $51 |
| Avalon Limited | $138 | $222 | $196 | $12 | $58 | $626 | $52 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Premium amounts do not factor in your specific Madison location which can lower or raise price quotes greatly.
Based on these figures, using a $250 deductible will cost you approximately $19 more each month or $228 each year than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go more than 39 months between claim filings, you would save money if you choose a higher deductible.
How to calculate if higher deductibles make sense
| Average monthly premium for $250 deductibles: | $69 |
| Average monthly premium for $1,000 deductibles (subtract): | – $50 |
| Monthly savings from raising deductible: | $19 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $19 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 39 months |
Full coverage rates compared to liability-only
The illustration below shows the difference between Toyota Avalon insurance prices with liability coverage only compared to full coverage. The information is based on no driving violations, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are applied to the premium.
When to drop comprehensive and collision coverage
There is no exact formula of when to drop full coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Toyota Avalon replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $3,000 after you pay the deductible. If premium cost is more than $300 annually for comprehensive and collision coverage, then it might be time to buy liability only.
There are some cases where dropping full coverage is not in your best interest. If you haven’t paid off your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Three reasons to insure your Toyota vehicle
Even though it’s not necessarily cheap to insure a Toyota in Madison, insuring your vehicle may be required and benefits you in several ways.
- Almost all states have minimum liability requirements which means you are required to carry specific minimum amounts of liability insurance coverage if you don’t want to risk a ticket. 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 have a lien on your Avalon, most lenders will force you to buy insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Toyota for a much higher rate and force you to reimburse them the higher premium.
- Insurance safeguards both your Toyota and your assets. It will also provide coverage for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance are definitely more than the cost, particularly for liability claims. An average driver in America is wasting up to $865 each year so we recommend shopping around at every policy renewal to be sure current rates are still competitive.
Why Smart Buyers Pay Less for Toyota Avalon Insurance
Lots of factors are used when you get your auto insurance bill. Some of the criteria are obvious like your driving record, but other criteria are more transparent such as your marital status or how financially stable you are. When buying car insurance it’s important to understand a few of the rating criteria that go into determining your policy premiums. When consumers understand what controls the rates you pay, this enables you to make decisions that can earn you better car insurance rates.
Listed below are some of the things utilized by car insurance companies to help set rates.
Where you reside – Residing in less populated areas of the country can be a good thing if you are looking for the lowest rates. Residents of big cities regularly have more aggressive driving styles and higher rates of accident claims. Fewer people means fewer accidents and also fewer theft and vandalism claims.
Bundle policies and save – Most larger insurance companies afford a discount to buyers who buy several policies from them in the form of a multi-policy discount. The discount can add up to as much as ten percent or more Even though this discount sounds good, you still need to check prices from other companies to guarantee you are still saving the most. Drivers may still find better rates by buying insurance from more than one company.
Frequent insurance claims will cost more – If you’re an insured who likes to file claims you can expect higher rates. Car insurance companies in Wisconsin award cheaper rates to people who are claim-free. Insurance coverage is designed for larger claims.
Better premiums on cars with good safety ratings – Vehicles that have high safety ratings are cheaper to insure. Vehicles built for safety result in less severe injuries and any reduction in injury severity translates into savings for insurance companies and cheaper rates on your policy.
Careless driving means higher premiums – Drivers who don’t get tickets have lower premiums as compared to careless drivers. Even a single citation may cause rates to rise by twenty percent. Drivers who have received severe citations such as reckless driving or DUI may find that they have to to maintain a SR-22 with their state’s licensing department in order to prevent their license from being revoked.
The diagram below shows how speeding tickets and fender-benders raise Toyota Avalon insurance costs for different insured age categories. The data assumes a single female driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
Only buy coverage you need – There are a lot of extra bells and whistles you can purchase when buying car insurance. Insurance for things like rental car coverage, better glass coverage, and extra life insurance coverage may not be needed and are just wasting money. You may think they are a good idea when deciding what coverages you need, but if you have no use for them consider taking them off your policy.
Toyota Avalon insurance loss data – Auto insurance companies use historical loss data to calculate a rate that will offset any claims. Vehicles that historically have higher prevalence or dollar amount of losses will have higher premium rates.
The next table shows the historical insurance loss data for Toyota Avalon vehicles. For each type of coverage, the claim amount for all vehicles, regardless of manufacturer or model, is equal to 100. Values that are under 100 imply a favorable loss record, while values that are 100 or greater point to more losses or tendency to have larger claims.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Avalon | 113 | 72 | 112 | 106 | 98 | 74 |
| Toyota Avalon Hybrid | 120 | 72 | 132 | 107 | 85 | 80 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get cheaper Toyota Avalon insurance rates in Madison
Car insurance is not cheap nor is it fun to buy but there could be available discounts that you may not even be aware of. A few discounts will automatically apply when you quote, but a few must be inquired about prior to getting the savings.
- Air Bags and Passive Restraints – Factory options such as air bags may get savings of more than 20%.
- Bundled Policy Discount – If you have multiple policies with the same company they may give you a discount of up to 20% off your total Avalon insurance premium.
- Low Mileage – Low mileage vehicles can earn discounted rates on garaged vehicles.
- Save with More Vehicles Insured – Drivers who insure multiple cars or trucks with one company could earn a price break for each car.
- Pay Upfront and Save – By making one initial payment rather than spreading payments over time you could save up to 5%.
- Safety Course Discount – Taking time to complete a course that instructs on driving safety could earn you a small percentage discount if you qualify.
- Student Discounts – Being a good student can save 20 to 25%. The discount lasts up to age 25.
- New Vehicle Savings – Insuring a new Avalon can get you a discount compared to insuring an older model.
As a footnote on discounts, many deductions do not apply to the whole policy. Most only reduce the cost of specific coverages such as comp or med pay. Just because you may think all the discounts add up to a free policy, insurance companies wouldn’t stay in business. Any qualifying discounts will help reduce the cost of your policy.
The example below shows the comparison of Toyota Avalon auto insurance rates with and without some available policy discounts. The premiums assume a female driver, no violations or claims, Wisconsin state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, multi-policy, claim-free, safe-driver, and marriage discounts applied.
A list of car insurance companies and a partial list of their discounts can be read below.
- American Family may offer discounts for accident-free, early bird, defensive driver, air bags, and good driver.
- State Farm includes discounts for good driver, driver’s education, Drive Safe & Save, good student, safe vehicle, and defensive driving training.
- 21st Century has discounts for automatic seat belts, early bird, anti-lock brakes, theft prevention, and 55 and older.
- Travelers discounts include early quote, multi-car, good student, driver training, and student away at school.
- GEICO has savings for five-year accident-free, multi-vehicle, good student, emergency military deployment, and anti-lock brakes.
When getting a coverage quote, ask every prospective company which discounts you qualify for. Discounts may not be available in your area. If you would like to choose from a list of insurers that provide some of the discounts listed above in Wisconsin, click this link.
You are unique and your car insurance should be too
When quoting and choosing the right insurance coverage, there really is no best way to insure your cars. Coverage needs to be tailored to your specific needs.
For instance, these questions may help highlight whether you would benefit from an agent’s advice.
- Should I waive the damage coverage when renting a car?
- Am I covered when driving someone else’s vehicle?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- What is high-risk coverage and where do I buy it?
- What does medical payments coverage do?
- Am I covered when using my vehicle for business?
- Can I afford to buy a different vehicle if my Toyota Avalon is totaled?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. To find an agent in your area, complete this form. It only takes a few minutes and can provide invaluable advice.
Exclusive or independent insurance agencies
Certain consumers would rather have an agent’s advice and there is nothing wrong with that. Experienced insurance agents can help you build your policy and help you file claims. One of the best bonuses of price shopping on the web is that drivers can save money and get lower rates but still work with a licensed agent. And providing support for local insurance agencies is especially important in Madison.
After filling out this short form, your insurance coverage information is instantly submitted to local insurance agents in Madison who will give you quotes for your insurance coverage. It’s much easier because you don’t need to search for an agent since rate quotes are delivered directly to your email. In the event you want to compare prices for a specific company, don’t hesitate to navigate to their website and give them your coverage information.
If you are wanting to purchase insurance from a reputable insurance agent or broker, it helps to know the two types of insurance agents and how they are distinctly different. Madison agents are categorized either independent or exclusive. Both types can write insurance policies, but it’s important to know the difference in how they write coverage since it can impact your selection of an agent.
Independent Agents (or Brokers)
Agents that choose to be independent are not employed by one company and that allows them to write policies through many companies and find you the best rates. If they find a cheaper price, the business is moved internally which requires no work on your part.
When searching for an agent, you absolutely need to check rates from several independent agencies in order to have the best price comparison.
Featured below is a partial list of independent insurance agencies in Madison that can possibly get you price quote information.
M3 Insurance
828 John Nolen Dr – Madison, WI 53713 – (608) 273-0655 – View Map
The Curtis Agency
2929 Atwood Ave – Madison, WI 53704 – (608) 250-2501 – View Map
Neckerman Insurance Services
6200 Mineral Point Rd – Madison, WI 53705 – (608) 238-2686 – View Map
Exclusive Agencies
Agents that elect to be exclusive can only provide one company’s prices and examples are State Farm, Allstate, or Farmers Insurance. Exclusive agents cannot place coverage with different providers so they really need to provide good service. These agents are trained well on what they offer and that enables them to sell even at higher rates.
The following is a list of exclusive agencies in Madison who can help you get price quote information.
American Family Insurance – Leah Salter
5025 Old Middleton Rd – Madison, WI 53705 – (608) 273-8555 – View Map
American Family Insurance – Michael Kittoe
334 Junction Rd – Madison, WI 53717 – (608) 827-9788 – View Map
Farmers Insurance – Debra Armstrong
621 N Sherman Ave, Ste B16 – Madison, WI 53704 – (608) 222-1400 – View Map
Selecting a car insurance agent should include more criteria than just a cheap price. Get answers to these questions too.
- Is the agent CPCU or CIC certified?
- Are claim adjusters local or do you have to take your car somewhere else?
- Are they giving you every discount you deserve?
- Do they have any clout with companies to ensure a fair claim settlement?
- Can they give you a list of client referrals?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- How many years have they been established?
Ratings for Madison auto insurance companies
Choosing the highest-rated car insurance provider can be rather challenging considering how many companies there are in Wisconsin. The company ratings below may help you choose which auto insurance companies you want to consider when shopping your coverage around.
Top 10 Madison Car Insurance Companies Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- Liberty Mutual
- State Farm
- Allstate
- Safeco Insurance
- Travelers
- 21st Century
Top 10 Madison Car Insurance Companies Ranked by Customer Service
- State Farm
- Nationwide
- Safeco Insurance
- American Family
- Travelers
- Liberty Mutual
- GEICO
- Allstate
- Erie Insurance
- The Hartford
Persistent drivers can save
People change insurance companies for a number of reasons such as lack of trust in their agent, denial of a claim, policy non-renewal or delays in responding to claim requests. No matter why you want to switch, finding a great new company is pretty simple and you could end up saving a buck or two.
Throughout this article, we presented a lot of techniques to lower your Toyota Avalon insurance prices in Madison. The key concept to understand is the more you quote Madison auto insurance, the more likely it is that you will get a better rate. You may even be surprised to find that the biggest savings come from a small local company.
When you buy Madison auto insurance online, do not skimp on critical coverages to save a buck or two. In many cases, consumers will sacrifice liability limits or collision coverage to discover at claim time that it was a big mistake. Your goal should be to find the BEST coverage at a price you can afford while not skimping on critical coverages.
Other resources
- How to Avoid Staged Accidents (State Farm)
- What Auto Insurance is Cheapest for First-time Drivers in Madison? (FAQ)
- How Much is Auto Insurance for Drivers with a Bad Driving Record in Madison? (FAQ)
- Who Has the Cheapest Car Insurance for Unemployed Drivers in Madison? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Auto Insurance 101 (About.com)
- Coverage Information (Progressive Insurance)