Dodge Grand Caravan Insurance Rates in Madison

It’s an obvious conclusion that car insurance companies don’t want policyholders to shop around. People who rate shop once a year are very likely to move their business because they have a good chance of finding a policy with better rates. Remarkably, a study showed that people who faithfully checked for cheaper rates saved on average $850 each year compared to policyholders who never shopped around for cheaper prices.

If finding budget-friendly rates on auto insurance is your goal, then having a grasp of the best ways to find and compare coverage rates can help simplify the task of finding more affordable coverage.

The preferred way to find cheaper quotes for auto insurance rates in Madison is to start comparing prices yearly from insurers in Wisconsin.

• Step 1: Learn about how insurance works and the things you can control to keep rates low. Many policy risk factors that increase rates such as traffic citations, accidents, and poor credit history can be amended by making small lifestyle or driving habit changes.
• Step 2: Compare rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agencies can quote prices for a wide range of insurance providers.
• Step 3: Compare the new quotes to your existing policy to see if a cheaper rate is available. If you find a lower rate quote and make a switch, make sure there is no coverage gap between policies.
• Step 4: Tell your current agent or company to cancel your current auto insurance policy. Submit any necessary down payment along with the completed application to your new insurance company. Immediately store the certificate verifying coverage in your vehicle.

One tip to remember is to make sure you enter identical coverages on every price quote and and to get prices from as many different companies as possible. This guarantees an apples-to-apples comparison and the best price quote selection.

If you have a current car insurance policy, you will surely be able to reduce premiums using this information. Buying the cheapest car insurance in Madison is quite easy. But Wisconsin vehicle owners must know the way insurance companies price online insurance because it can help you find the best coverage.

Just remember that making a lot of price comparisons helps locate the best rates. Not every company does Madison Grand Caravan insurance quotes online, so you also need to get price estimates from them, too.

The car insurance companies shown below provide comparison quotes in Madison, WI. If multiple companies are listed, it’s a good idea that you compare several of them to get a more complete price comparison.

Coverage statistics and figures

The coverage table shown next showcases detailed analysis of insurance coverage prices for Dodge Grand Caravan models. Learning how insurance premiums are figured can assist in making smart choices when purchasing an insurance policy.

Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in specific location information which can change prices noticeably.

Physical damage deductibles

One of the more difficult decisions when buying car insurance is the level to set your comp and collision deductibles. The tables below can help you visualize the price difference of buying low and high comp and collision deductibles. The first data table uses a $100 deductible and the second price grid uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rate quotes do not factor in zip code location which can alter premium rates noticeably.

Based on the figures above, using a $100 deductible costs about $23 more each month or $276 for a full year averaged for all Grand Caravan models than choosing the higher $1,000 deductible. Because you would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average at least 39 months between claim filings, you would more than likely save some money if you decide on a higher deductible. The table below shows an example of how you can perform this determination yourself.

An important thing to remember is that raising deductibles results in a higher out-of-pocket expense when you have a physical damage claim. You will want to have access to more funds in the event you have to pay more for the deductible.

The illustration below demonstrates how choosing different deductibles and can affect Dodge Grand Caravan yearly insurance costs for different age categories. The premium estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.

Cost comparison with and without full coverage

The example below compares Dodge Grand Caravan insurance rates when comparing full coverage to state minimum liability only. The information is based on no claims or driving citations, $100 deductibles, drivers are single, and no discounts are applied.

When to eliminate full coverage

There is no specific rule for excluding physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s say your Dodge Grand Caravan replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $3,000 after the deductible is paid. If premium cost is more than $300 annually for physical damage coverage, then it could be time to drop full coverage.

There are some scenarios where only buying liability is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.

Three reasons car insurance is important

Despite the high cost, car insurance is required in Wisconsin but it also protects you in many ways.

First, just about all states have minimum liability requirements which means state laws require a specific level of liability insurance 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.

Second, if you took out a loan on your car, most lenders will make it mandatory that you have full coverage to protect their interest in the vehicle. If the policy lapses, the lender will be forced to insure your Dodge for a lot more money and require you to reimburse them the higher premium.

Third, car insurance protects not only your vehicle but also your financial assets. It will also reimburse you for medical transport and hospital expenses that are the result of an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense in the event you are sued. If you have damage to your Dodge as the result of the weather or an accident, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.

The benefits of insuring your Grand Caravan are definitely more than the cost, especially when you need to use it. An average driver in America is wasting up to $869 every year so compare rate quotes once a year at a minimum to ensure rates are inline.

The Dodge Grand Caravan Insurance Rate Equation

Lots of things are used when pricing auto insurance. Some are pretty understandable such as your driving record, but others are not as apparent such as your marital status or your commute time. The best way to find cheaper auto insurance is to take a look at some of the things that go into determining your policy premiums. If you understand what influences your rates, this allows you to make educated decisions that may result in lower rates.

The itemized list below are just a few of the factors auto insurance companies consider when setting your premiums.

• Stress out and pay more – Did you know your auto insurance rates can be affected by your occupation? Jobs such as fire fighters, airline pilots, and dentists generally pay higher rates than average in part from high stress levels and extremely grueling work hours. Other careers like farmers, athletes and performers have lower than average premiums.

• Good drivers pay less – Drivers with clean records have lower premiums compared to drivers with tickets. Just one moving violation can boost insurance rates by twenty percent. Drivers unfortunate enough to have severe tickets such as DUI or willful reckless driving may be required to file a proof of financial responsibility form (SR-22) with their state in order to prevent a license revocation.

  The information below demonstrates how speeding tickets and fender-benders can affect Dodge Grand Caravan annual premium costs for each age group. The rate quotes are based on a married male driver, comp and collision included, $100 deductibles, and no discounts are factored in.

• Married drivers get cheaper prices – Having a wife or husband can get you a discount on auto insurance. It generally demonstrates drivers are less irresponsible and it’s statistically proven that drivers who are married are more cautious.
• Only buy coverage you need – Policies have additional extra coverages you can purchase if you aren’t diligent. Coverages like vanishing deductibles, accidental death, and motor club memberships may be wasting your money. The coverages may be enticing when deciding what coverages you need, but if they’re wasting money consider taking them off your policy.
• Your location is important – Residing in small towns and rural areas may provide you with better prices when it comes to auto insurance. Drivers in populated areas have more aggressive driving styles and more time behind the wheel. Fewer drivers means a lower chance of having an accident and also fewer theft and vandalism claims.
• Drive less and save – Driving a lot of miles in a year the higher your rates will be. A lot of companies charge rates based on their usage. Cars and trucks not used for work or commuting cost less to insure than those that get driven frequently. Double check that your declarations sheet is rated on how each vehicle is driven, because it can save money. A policy that improperly rates your Grand Caravan may be costing you.
• When should you file insurance claims? – Car insurance companies in Wisconsin give cheaper rates to people who are not frequent claim filers. If you frequently file small claims, you can definitely plan on much higher rates or policy non-renewal. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
• Discounts for alarm systems – Selecting a car model that has a built-in theft deterrent system can help bring down rates. Theft prevention devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent auto theft.

• Loss statistics for a Dodge Grand Caravan – Insurance companies take into consideration historical loss data for every vehicle to help set a rate to offset losses. Vehicles that the data shows to have higher claim amounts or frequency will have higher premium rates.

  The next table illustrates the historical insurance loss data for Dodge Grand Caravan vehicles. For each type of coverage, the loss probability for all vehicles, regardless of make, model or trim level, equals 100. Percentage values below 100 mean the vehicle has better than average losses, while percentage values above 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.

  
  

  Dodge Grand Caravan Insurance Loss Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Dodge Grand Caravan	79	104	81	108	108	107

  BETTER

  AVERAGE

  WORSE

  Statistics from IIHS.org for 2013-2015 Model Years

Auto insurance discounts are available to get cheap rates

Car insurance companies don’t always publicize all their discounts in a way that’s easy to find, so the next list breaks down a few of the more common in addition to some of the lesser obvious credits that you can use to lower your rates.

• Discounts for Government Workers – Federal government employees could cut as much as 10% off depending on your company.
• Sign Early and Save – Select insurance companies give a discount for buying a new policy early. Ten percent is about the average savings.
• Online Discount – A few larger companies will provide an incentive shop Madison car insurance on their website.
• ABS Brakes – Anti-lock brake equipped vehicles are much safer to drive and will save you 10% or more on Grand Caravan insurance in Madison.
• Responsible Drivers – Drivers who don’t get into accidents may receive a discount up to 45% compared to accident prone drivers.
• College Student Discount – Youth drivers who attend college more than 100 miles from Madison and leave their car at home could qualify for this discount.
• Air Bag Discount – Vehicles equipped with air bags may qualify for discounts of 25 to 30%.
• Discount for New Cars – Putting insurance on a new Grand Caravan can cost up to 25% less since newer vehicles have better safety ratings.
• Fewer Miles Equal More Savings – Driving fewer miles could earn lower auto insurance rates on the low mileage vehicles.
• Seat Belts Save more than Lives – Drivers who require all occupants to buckle up before driving can save a little off the medical payments premium.

Please keep in mind that most of the big mark downs will not be given to the entire cost. Most only apply to the cost of specific coverages such as liability, collision or medical payments. So even though you would think you can get free auto insurance, companies don’t profit that way. But any discount will help lower your auto insurance premiums.

The chart below illustrates the difference between Dodge Grand Caravan car insurance rates with and without some available policy discounts. The costs are based on a female driver, no violations or claims, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, marriage, multi-car, homeowner, and claim-free discounts applied.

To see a list of insurers with significant discounts in Wisconsin, follow this link.

When should I contact a local insurance agent?

Some people prefer to buy from a local agent and that is not a bad decision The biggest benefit of getting free rate quotes online is that you can find cheaper premium rates but also keep your business local. And supporting local agencies is still important in Madison.

To find an agent, once you fill out this simple form, your insurance data is transmitted to agents in your area who can give free rate quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to contact any agents due to the fact that quote results will go to your email. You can get cheaper insurance rates and an insurance agent to talk to. If you have a need to get a comparison quote for a specific company, feel free to search and find their rate quote page and submit a quote form there.

If you’re trying to find a reliable agent, it’s helpful to know the types of agencies and how they function. Insurance policy providers can be categorized as either independent (non-exclusive) or exclusive.

Independent Insurance Agents (or Brokers)

Agents of this type can sell policies from many different companies so they can insure your vehicles through lots of different companies and find the cheapest rate. If you are not satisfied with one company, they simply move the coverage in-house which makes it simple for you. If you are comparing rate quotes, you should always include at least one independent agent for the best price selection.

Featured below is a short list of independent insurance agencies in Madison that may be able to provide free insurance quotes.

View more Madison agents

Exclusive Insurance Agencies

Exclusive insurance agents write business for a single company and some examples include Farmers Insurance or State Farm. They are unable to give you multiple price quotes so they are skilled at selling on more than just price. These agents are very knowledgeable on what they offer which can be an advantage.

Shown below is a short list of exclusive insurance agents in Madison willing to provide comparison quotes.

View more Madison agents

Selecting an insurance agent shouldn’t rely on just the bottom line cost. Ask your prospective agent these questions:

• What is the agency’s Better Business Bureau rating?
• Which companies can they place coverage with?
• Will one accident increase rates?
• By raising physical damage deductibles, how much would you save?
• What discounts might you be missing?
• Is the agent properly licensed in Wisconsin?
• Is there a local claims center in Madison?
• Can they give you a list of client referrals?

Madison auto insurance company ratings

Choosing a high-quality company can be a challenge considering how many companies sell insurance in Wisconsin. The company rank data shown next could help you choose which car insurance providers to look at when comparing rate quotes.

Top 10 Madison Car Insurance Companies Overall

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

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+

Compare. Compare. Compare.

We just covered many tips how you can shop for Dodge Grand Caravan insurance online. The key thing to remember is the more quotes you get, the better your comparison will be. Drivers may even discover the best car insurance rates are with a small mutual company. Smaller companies can often insure niche markets at a lower cost than their larger competitors like Progressive and GEICO.

When shopping online for insurance, do not skimp on coverage in order to save money. Too many times, someone sacrificed uninsured motorist or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. The goal is to purchase plenty of coverage for the lowest price, but do not skimp to save money.

Much more information about insurance in Wisconsin is available at these links:

• All About Airbag Safety (State Farm)
• How Much are Madison Car Insurance Rates for a Toyota Highlander? (FAQ)
• Who Has Cheap Auto Insurance Rates for Teachers in Madison? (FAQ)
• What Auto Insurance is Cheapest for High School Students in Madison? (FAQ)
• Who Has Affordable Auto Insurance Rates for a Honda CR-V in Madison? (FAQ)
• Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
• Where can I buy Insurance? (Insurance Information Institute)
• Alcohol Impaired Driving FAQ (iihs.org)
• Property Damage Coverage (Liberty Mutual)