Buying affordable Madison Kia Optima insurance quotes online may be challenging for drivers not familiar with comparing prices on the internet. Since there are so many insurers to choose from, how can Madison drivers efficiently compare all the different companies and get the best available price?
It’s well known that auto insurance companies want to keep your business as long as possible. Insureds who shop around for the cheapest price are highly likely to switch companies because there are good odds of finding a lower-priced company. A recent insurance study discovered that drivers who made a habit of comparing rates saved $3,400 over four years compared to other drivers who never shopped for cheaper rates.
If saving money on auto insurance in Madison is your ultimate goal, then having an understanding of how to quote prices and compare car insurance can make it easier for you to save money.
You should take the time to compare prices as often as possible because prices trend upward over time. If you had the best price on Kia Optima insurance in Madison on your last policy there may be better deals available now. Forget anything you know (or think you know) about insurance because you’re going to get a crash course in one of the best ways to save on insurance.
If you are already insured, you will most likely be able to cut your premiums using the ideas you’re about to read. Our objective in writing this article is to teach you how car insurance companies work and also pocket some savings Nevertheless, Wisconsin consumers do need to learn how companies determine what you pay.
What Determines Kia Optima Insurance Premiums?
Many factors are used in the calculation when pricing auto insurance. Some of the criteria are obvious like a motor vehicle report, but others are less apparent like where you live and annual miles driven. One of the most helpful ways to save on insurance is to to have a grasp of some of the things that help determine the rates you pay for insurance. If you understand what positively or negatively impacts your premiums, this enables informed choices that could result in better insurance rates.
- Never let your policy expire – Allowing your insurance policy to lapse will be a sure-fire way to drive up your policy premiums. In addition to paying higher rates, being ticketed for driving with no insurance will get you fines and jail time. You may need to submit proof of financial responsibility or a SR-22 with the Wisconsin department of motor vehicles.
- Where you reside – Being located in a small town can be a good thing if you are looking for the lowest rates. Urban drivers have to deal with more road rage incidents and more time behind the wheel. Fewer people means a lower chance of having an accident.
- Get cheaper prices after the wedding – Having a spouse actually saves money on your policy. Having a spouse usually means you are more stable financially and statistics show married drivers tend to file fewer claims.
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Don’t get traffic citations – Your driving citation history can have a huge impact on auto insurance premiums. Even a single chargeable violation can increase rates substantially. Drivers with clean records pay lower auto insurance prices as compared to careless drivers. Drivers who have serious tickets such as DWI, reckless driving or hit and run convictions may be required to prove financial responsibility with their state DMV in order to prevent their license from being revoked.
The example below shows how violations and accident claims can raise Kia Optima yearly insurance costs for each age group. The information is based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are applied to the premium.
- Drive a safer car and pay less – Cars with five star safety ratings tend to have better insurance rates. Safer cars protect occupants better and lower rates of occupant injuries translates into fewer and smaller insurance claims and thus lower rates.
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Loss probability for a Kia Optima – Car insurance companies use data from past claims to help determine the price you pay. Models that tend to have higher loss trends will be charged more to insure. The table below demonstrates the insurance loss data for Kia Optima vehicles.
For each policy coverage, the claim amount for all vehicles, as an average, equals 100. Numbers under 100 indicate better than average losses, while values over 100 indicate higher probability of having a loss or larger claims.
Car Insurance Loss Data for Kia Optima Models Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Kia Optima 115 101 107 133 142 120 Kia Optima Hybrid 143 115 116 139 158 151 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Cheapest Kia Optima insurance quotes in Madison, WI
When quoting car insurance, remember that comparing all the rates in your area will increase your chances of finding the best price. Not every company does online rate quotes, so it’s important to compare prices from them, too.
The companies shown below are ready to provide price comparisons in Wisconsin. To buy cheap auto insurance in Wisconsin, we suggest you visit two to three different companies to get a more complete price comparison.
Kia Optima insurance rates and statistics
The data table below covers different insurance costs for Kia Optima models. Being aware of how insurance premiums are established can help guide drivers when making informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Optima LX | $152 | $294 | $272 | $16 | $82 | $816 | $68 |
| Optima EX | $172 | $346 | $272 | $16 | $82 | $888 | $74 |
| Optima SX | $172 | $346 | $272 | $16 | $82 | $888 | $74 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Table data does not factor in Madison location which can raise or lower coverage rates substantially.
The chart below highlights how deductible choice and can influence Kia Optima annual premium costs for each different age group. The data assumes a married female driver, comp and collision included, and no discounts are applied to the premium.
Comparison of full coverage and liability-only policies
The diagram below illustrates the difference between Kia Optima car insurance costs with and without physical damage coverage. Data assumes no violations or claims, $1,000 deductibles, marital status is single, and no other discounts are factored in.
When to stop buying full coverage
There is no written rule to drop physical damage insurance, but there is a general convention. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s pretend your Kia Optima replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,000 after the deductible is paid. If you are paying over $400 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping full coverage is not recommended. If you haven’t paid off your loan, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Choosing the best Kia Optima insurance in Wisconsin is an important decision
Despite the fact that car insurance is not cheap in Madison, insurance is required in Wisconsin but also provides important benefits.
First, most states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability coverage 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 your Kia Optima has a loan, more than likely the lender will make it mandatory that you have comprehensive coverage to guarantee loan repayment. If you do not keep the policy in force, the bank may buy a policy for your Kia at a much higher premium rate and require you to fork over the higher price.
Third, car insurance protects not only your Kia but also your financial assets. It will also provide coverage for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, will also pay to defend you if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of carrying enough insurance are without a doubt worth the cost, especially with large liability claims. As of last year, the average driver in Wisconsin is overpaying over $825 a year so we recommend shopping around each time the policy renews to save money.
Take policy discounts and save on Kia Optima insurance in Madison
Some companies don’t always list every available discount in an easy-to-find place, so the following list contains some of the best known and the more hidden discounts that may be available.
- No Accidents – Insureds who avoid accidents and claims can save substantially compared to accident-prone drivers.
- Payment Discounts – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
- Seat Belts Save – Drivers who require all occupants to use a seat belt could save 15% off the personal injury premium cost.
- Discount for Passive Restraints – Factory options such as air bags or motorized seat belts may qualify for discounts up to 30%.
- Discount for Low Mileage – Low annual miles may allow you to get substantially lower premium rates.
- Military Discounts – Having an actively deployed family member could qualify you for better premium rates.
- Distant Student – Youth drivers who are attending college without a vehicle on campus can receive lower rates.
- Theft Deterrent – Cars and trucks that have factory anti-theft systems prevent vehicle theft and will qualify for a discount on a Madison car insurance quote.
- Government Employee Discount – Employees or retirees of the government could cut as much as 10% off depending on your company.
As a sidenote, most discount credits are not given to all coverage premiums. Most only reduce the cost of specific coverages such as collision or personal injury protection. Even though the math looks like having all the discounts means you get insurance for free, insurance companies aren’t that generous. But all discounts will help lower your policy premium.
The example below shows the difference between Kia Optima insurance costs with and without some available policy discounts. The price estimates are based on a male driver, no claims or driving citations, Wisconsin state minimum liability limits, full 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, homeowner, multi-car, marriage, safe-driver, and claim-free discounts applied.
A list of companies and their possible discounts are:
- State Farm offers discounts including multiple policy, passive restraint, Steer Clear safe driver discount, defensive driving training, and student away at school.
- Liberty Mutual may offer discounts for new vehicle discount, exclusive group savings, hybrid vehicle, preferred payment discount, teen driver discount, and multi-car.
- American Family discounts include air bags, accident-free, multi-vehicle, good student, bundled insurance, early bird, and mySafetyValet.
- Progressive includes discounts for continuous coverage, good student, homeowner, online signing, multi-policy, and multi-vehicle.
- Farmers Insurance has savings for distant student, alternative fuel, youthful driver, early shopping, and multi-car.
- Auto-Owners Insurance may include discounts for mature driver, paperless, good student, safe vehicle, multiple vehicles, and multi-policy.
- SAFECO has discounts for anti-theft, teen safe driver, teen safety rewards, drive less, and multi-car.
When getting free Madison car insurance quotes, it’s a good idea to every prospective company which discounts you qualify for. A few discounts might not apply in Madison. If you would like to see a list of companies with the best discounts in Madison, click here to view.
Get rate quotes but still have a local Madison insurance agent
A lot of people still like to talk to a local agent and that is a personal choice. One of the benefits of getting online price quotes is the fact that drivers can get better rates but also keep your business local.
To make it easy to find an agent, after completing this simple form, your information is instantly submitted to insurance agents in Madison who will give you bids for your auto insurance coverage. You won’t even need to even leave your home as quotes are delivered to you instantly. You can get cheaper auto insurance rates AND a local agent. If for some reason you want to get a price quote from a particular provider, you just need to visit that company’s website and complete a quote there.
Deciding on an insurance company shouldn’t rely on just the quoted price. Agents should be asked these questions:
- Will a damage claim use OEM or aftermarket replacement parts?
- Are all drivers listed on the coverage quote?
- What kind of financial rating does the company have?
- How often do they review policy coverages?
- How much training do they have in personal risk management?
- Do they prorate repair cost based on vehicle mileage?
Different types of car insurance agents in Madison
If you are wanting to find a local insurance agency, you need to know there are two different types of agencies and how they can quote your rates. Auto insurance agencies are classified as either independent agents or exclusive agents.
Exclusive Agencies
Agents in the exclusive channel normally can only provide a single company’s rates and examples are Farmers Insurance, American Family, State Farm and Allstate. These agents are not able to shop your coverage around so they really need to provide good service. Exclusive insurance agents are well schooled on sales techniques which can be an advantage. Drivers often buy from exclusive agents mainly due to the prominent brand name rather than having low rates.
Shown below are Madison exclusive insurance agents that can give you price quotes.
- GEICO Insurance Agent
2001 W Beltline Hwy Suite 100 – Madison, WI 53713 – (608) 242-9322 – View Map - Michael Wegner – State Farm Insurance Agent
425 Grand Canyon Dr – Madison, WI 53719 – (608) 833-9000 – View Map - American Family Insurance – Brian Uelmen
4222 Milwaukee St Ste 81 – Madison, WI 53714 – (608) 241-8688 – View Map
Independent Auto Insurance Agents
Independent agents often have many company appointments and that gives them the ability to insure with many different companies and find the cheapest rate. If premiums increase, they simply switch companies in-house without you having to go to a different agency. If you need lower rates, it’s a good idea to get several quotes from a few independent agents to have the best price comparison. Many independent agencies also insure through additional companies that you may not be familiar with that may provide cheaper auto insurance rates.
Below are Madison independent agents who can help you get price quotes.
- M3 Insurance
828 John Nolen Dr – Madison, WI 53713 – (608) 273-0655 – View Map - Affiliated Insurance-Wisconsin
3830 Atwood Ave – Madison, WI 53714 – (608) 273-3361 – View Map - Prairie Land Insurance Agency
2045 Atwood Ave #113A – Madison, WI 53704 – (608) 251-3009 – View Map
You may need specialized insurance coverage
Always keep in mind that when comparing the best insurance coverage, there really is no one-size-fits-all type of policy. Your needs are not the same as everyone else’s so your insurance needs to address that.
These are some specific questions can help discover whether you might need professional guidance.
- Do I need higher collision deductibles?
- What is the rate difference between pleasure use and commuting?
- Is a blown tire covered by insurance?
- Can I insure my car for more than it’s worth?
- Do I need special endorsements for business use of my vehicle?
- Does liability extend to a camper or trailer?
- Am I covered when delivering products for my home-based business?
- Will I lose any money if I cancel my policy before it expires?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- How much cheaper are high deductibles?
If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier
Cheaper car insurance is a realistic goal
We just covered many ways to save on Kia Optima insurance in Madison. The key thing to remember is the more price quotes you have, the better likelihood of getting low cost Madison car insurance quotes. You may even be surprised to find that the best price on car insurance is with some of the smallest insurance companies. Some small companies may often insure only within specific states and give better rates as compared to the big name companies such as Allstate and Progressive.
While you’re price shopping online, you should never buy poor coverage just to save money. There are a lot of situations where someone sacrificed uninsured motorist or liability limits only to discover later that it was a big error on their part. Your goal is to purchase a proper amount of coverage at an affordable rate.
Cost effective Kia Optima insurance can be found both online and also from your neighborhood Madison agents, and you need to price shop both to have the best chance of lowering rates. Some car insurance companies may not have online rate quotes and many times these regional carriers only sell through independent insurance agencies.
How to find cheaper rates for Kia Optima insurance in Madison
If saving the most money is your goal, then the best way to get the cheapest Kia Optima insurance in Madison is to compare quotes once a year from companies in Wisconsin.
First, try to comprehend what is in your policy and the things you can control to prevent high rates. Many policy risk factors that result in higher prices like high-risk driving behaviors and a less-than-favorable credit score can be controlled by making minor changes to your lifestyle.
Second, request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from one company like GEICO and State Farm, while agents who are independent can give you price quotes for a wide range of insurance providers.
Third, compare the quotes to the price on your current policy to determine if you can save on Optima insurance. If you find a lower rate, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, notify your agent or company of your intention to cancel the current policy and submit payment along with a signed and completed policy application to the new company. Don’t forget to place your new certificate verifying coverage above your visor, in the console, or in the glove compartment.
The key aspect of shopping around is to compare the same amount of coverage on every quote and and to get rate quotes from as many carriers as you can. This provides the most accurate price comparison and the most accurate and complete price analysis.
Additional detailed information is available in the articles below:
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- How Much are Auto Insurance Quotes for Teenagers in Madison? (FAQ)
- Who Has the Cheapest Car Insurance for Drivers Over Age 60 in Madison? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Prom Night Tips for Teen Drivers (State Farm)
- Auto Theft Statistics (Insurance Information Institute)
- Can I Drive Legally without Insurance? (Insurance Information Institute)