To save the most money, the best way to get the cheapest car insurance rates in Madison is to make a habit of comparing prices annually from insurers in Wisconsin.
- First, try to comprehend what coverages are included in your policy and the factors you can control to prevent expensive coverage. Many rating criteria that cause rate increases such as at-fault accidents, speeding tickets, and an unacceptable credit score can be remedied by making lifestyle changes or driving safer. Read the full article for tips to prevent rate hikes and find possible discounts that are available.
- Second, quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can give quotes from one company like Progressive and State Farm, while agents who are independent can give you price quotes from many different companies.
- Third, compare the quotes to the price on your current policy and see if there is a cheaper rate in Madison. If you find a lower rate quote, make sure there is no coverage gap between policies.
- Fourth, provide notification to your current company of your decision to cancel your current car insurance policy and submit the completed application along with a down payment to the new insurer. As soon as you can, put the proof of insurance certificate in your vehicle.
A key point to remember is that you’ll want to make sure you compare identical coverage information on each quote request and and to analyze as many carriers as you can. This provides a fair rate comparison and the best rate selection.
Inconceivable but true, nearly 70% of consumers have bought auto insurance from the same company for at least the last four years, and almost 40% of drivers have never even compared rates from other companies. Many drivers in Wisconsin could save up to $370 a year by just comparing rate quotes, but most just don’t grasp the actual amount they would save if they switched to a cheaper policy.
There are several ways to compare rate quotes from insurance companies in your area. The recommended way to find affordable Honda HR-V insurance rates involves getting comparison quotes online. When price shopping your coverage, comparing all the rates in your area provides better odds of finding more affordable rates. Some regional insurers cannot provide online price quotes, so it’s important to compare price estimates from them as well.
The companies in the list below offer free rate quotes in Wisconsin. To find cheaper car insurance in Madison, it’s highly recommended you visit as many as you can in order to get a fair rate comparison.
Cheaper rates with these ten discounts on Honda HR-V insurance in Madison
Car insurance companies don’t always advertise every discount they offer very clearly, so we break down both well-publicized as well as the least known discounts you could be receiving when you buy Madison car insurance online.
- Military Discounts – Having a family member in the military could trigger a small discount.
- Senior Discount – If you’re over the age of 55, you may receive lower premium rates.
- Anti-lock Brakes – Cars, trucks, and SUVs that have steering control and anti-lock brakes prevent accidents and will save you 10% or more on HR-V insurance in Madison.
- Defensive Driver Discounts – Taking time to complete a defensive driver course could cut 5% off your bill and easily recoup the cost of the course.
- Include Life Insurance and Save – Larger insurance carriers have a break if you buy a life insurance policy as well.
- Distant Student – College-age children who are enrolled in a college that is more than 100 miles from Madison and don’t have a car may be insured at a cheaper rate.
- Early Signing – Some companies provide a discount for switching policies prior to the expiration date on your current HR-V insurance policy. You can save around 10% with this discount.
- Home Ownership Discount – Just being a homeowner can save a few bucks since home ownership means you have a higher level of financial diligence.
- Safe Driver Discount – Safe drivers may save up to 50% more as compared to drivers with claims.
- Student Driver Training – Require your teen driver to enroll in driver’s education as it will make them better drivers and lower rates.
Drivers should understand that most of the big mark downs will not be given to all coverage premiums. Some only reduce individual premiums such as comp or med pay. Just because you may think all those discounts means the company will pay you, you aren’t that lucky. But all discounts will cut your policy premium.
A few of the larger companies and some of their more popular discounts are outlined below.
- State Farm includes discounts for multiple policy, driver’s education, Drive Safe & Save, accident-free, passive restraint, multiple autos, and safe vehicle.
- Progressive has savings for online quote discount, homeowner, online signing, multi-policy, good student, and continuous coverage.
- Travelers offers premium reductions for save driver, new car, continuous insurance, hybrid/electric vehicle, and IntelliDrive.
- American Family may include discounts for good student, Steer into Savings, TimeAway discount, defensive driver, air bags, and multi-vehicle.
- Liberty Mutual may have discounts that include newly retired, new graduate, multi-car, new vehicle discount, and hybrid vehicle.
Before you buy a policy, ask every prospective company which discounts they offer. Some discounts might not be available to policyholders in every state. To choose insurers with the best discounts in Madison, click here.
Exclusive versus independent insurance agents
Many people would rather buy from a local agent and that is OK! A nice benefit of comparing rate quotes online is that you can obtain the best rates and still have an agent to talk to.
For easy comparison, once you complete this form (opens in new window), the quote information is sent to insurance agents in Madison that provide free Madison car insurance quotes for your business. There is no need to contact any agents since price quotes are sent instantly to you. You can find better rates and a licensed agent to work with. If for some reason you want to get a price quote from a particular provider, don’t hesitate to jump over to their website and fill out the quote form the provide.
Choosing the best insurer should include more criteria than just a cheap price. Get answers to these questions too.
- What is the agency’s Better Business Bureau rating?
- Will the company cover a rental car if your car is getting fixed?
- Do they get paid more for recommending certain coverages?
- How much experience to they have in personal lines coverages?
- Do they reduce claim amounts on high mileage vehicles?
- Is working in the agency their full-time job?
- Does the agent have a valid license to sell insurance in Wisconsin?
- Will you work with the agent or an assistant?
If you feel you receive positive feedback to your questions and a low price estimate, you may have just found a company that is professional and can insure your vehicles.
Educate yourself about auto insurance coverages
Understanding the coverages of your auto insurance policy can help you determine the best coverages at the best deductibles and correct limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy.
Liability auto insurance
Liability coverage can cover damage or injury you incur to other people or property by causing an accident. This insurance protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/10 that means you have $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $10,000 paid for damaged property.
Liability insurance covers claims such as legal defense fees, structural damage and bail bonds. The amount of liability coverage you purchase is a personal decision, but consider buying as large an amount as possible. Wisconsin requires minimum liability limits of 25/50/10 but you should think about purchasing more liability than the minimum.
The chart below demonstrates why minimum state limits may not be enough.
Comprehensive auto coverage
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as theft, damage from flooding and hitting a bird. The maximum amount your auto insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Collision insurance covers damage to your HR-V from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims such as hitting a parking meter, damaging your car on a curb, crashing into a building and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to choose a higher deductible on your HR-V in order to get cheaper collision rates.
Medical payments and PIP coverage
Med pay and PIP coverage provide coverage for immediate expenses for ambulance fees, dental work, surgery and doctor visits. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states and may carry a deductible
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your Honda HR-V.
Since many Wisconsin drivers only carry the minimum required liability limits (25/50/10 in Wisconsin), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.
More quotes mean more insurance savings
Budget-conscious Honda HR-V insurance is available both online as well as from independent agents in Madison, and you need to comparison shop both to have the best chance of lowering rates. Some companies may not offer the ability to get a quote online and these smaller providers prefer to sell through independent agents.
In this article, we covered a lot of techniques to get a better price on Honda HR-V insurance in Madison. The key concept to understand is the more quotes you get, the higher your chance of finding affordable Honda HR-V insurance quotes. You may even be surprised to find that the lowest premium rates are with an unexpected company.
Insureds who switch companies do it for a number of reasons such as extreme rates for teen drivers, high prices, delays in paying claims or policy non-renewal. Regardless of your reason for switching companies, choosing a new insurance company is actually quite simple.
More detailed insurance information can be read in these articles:
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Who Has Affordable Madison Car Insurance Quotes for Low Mileage Drivers? (FAQ)
- What Car Insurance is Cheapest for Felons in Madison? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Inexperienced Drivers in Madison? (FAQ)
- Who Has Cheap Madison Auto Insurance for Drivers with Bad Credit? (FAQ)
- Who Has the Cheapest Car Insurance for Unemployed Drivers in Madison? (FAQ)
- What Insurance is Cheapest for Hybrid Vehicles in Madison? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Teenage Females in Madison? (FAQ)
- Who Has the Cheapest Madison Car Insurance for Drivers Under 21? (FAQ)
- How Much is Madison Auto Insurance for Low Income Drivers? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Child Safety FAQ (iihs.org)
- What is a Telematics Device? (Allstate)
- What is Full Coverage? (Allstate)