Best Kia Rio Insurance in Madison

Insurance for Kia RioIf saving money is your primary concern, then the best way to get more affordable Kia Rio insurance is to start comparing prices regularly from insurers that insure vehicles in Madison. Price quotes can be compared by completing these steps.

First, spend a few minutes and learn about coverages and the measures you can control to drop your rates. Many factors that cause rate increases like multiple speeding tickets and a not-so-good credit history can be eliminated by making minor changes in your lifestyle.

Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like Progressive or Farmers Insurance, while independent agencies can provide rate quotes for a wide range of companies. Find a Madison insurance agent

Third, compare the quotes to your existing policy to see if you can save by switching companies. If you can save money and switch companies, ensure there is no coverage lapse between policies.

Fourth, provide proper notification to your current company of your decision to cancel your current policy and submit a signed application and payment for your new policy. Be sure to place your new certificate verifying proof of insurance in a readily accessible location in your vehicle.

The most important part of shopping around is that you use similar limits and deductibles on every price quote and and to look at as many companies as possible. Doing this helps ensure an apples-to-apples comparison and a complete selection of prices.

Shockingly, nearly 70% of customers kept their policy with the same company for at least the last four years, and about 40% of consumers have never compared auto insurance rates at all. With the average auto insurance premium being $1,340, Madison drivers could save as much as $373 a year just by getting comparison quotes, but they think it’s difficult to go online and compare rates.

If you are already insured, you stand a good chance to be able to cut your premiums using the ideas you’re about to read. Locating the best rates in Madison can initially seem challenging. Although Wisconsin drivers can benefit from knowing how insurance companies compete online because it varies considerably.

Rates and information analytics

The premium table below outlines detailed analysis of policy rates for Kia Rio models. Having a better idea how insurance quotes are established is important for making smart choices when purchasing an auto insurance policy.

Kia Rio Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $140 $298 $350 $20 $106 $914 $76
Rio LX $140 $298 $350 $20 $106 $914 $76
Rio SX $160 $350 $350 $20 $106 $986 $82
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Rates do not factor in specific zip code location which can affect premium rates noticeably.

An analysis of deductible level

One of the hardest decisions when shopping for car insurance is what deductibles to buy. The comparisons below may aid in understanding the cost difference between low and high physical damage deductibles. The first data table uses a $250 deductible and the second data table uses a $1,000 deductible.

Kia Rio insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $154 $300 $260 $16 $78 $833 $69
Rio LX $154 $300 $260 $16 $78 $833 $69
Rio SX $178 $352 $260 $16 $78 $909 $76
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Kia Rio insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $96 $188 $260 $16 $78 $638 $53
Rio LX $96 $188 $260 $16 $78 $638 $53
Rio SX $110 $222 $260 $16 $78 $686 $57
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Information does not factor in specific location which can lower or raise coverage rates noticeably.

Based on the data above, we can derive that using a $250 deductible will cost you roughly $17 more each month or $204 annually than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at a minimum 44 months between claims, you would save money if you decide on a higher deductible.

The illustration below highlights how deductible choice and can impact Kia Rio insurance costs for different ages of insureds. The price estimates are based on a married female driver, full coverage, and no additional discounts are factored in.

Impact of violations and accidents on rates

The information below shows how traffic citations and at-fault collisions can raise Kia Rio insurance premiums for different ages of insureds. The data assumes a married male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.

How do Insurance Companies Determine Kia Rio Insurance Premiums?

The best way to find cheaper car insurance is to take a look at some of the elements that play a part in calculating the level of your policy premiums. When you know what positively or negatively determines base rates, this enables informed choices that could result in lower car insurance prices.

Do you know you’re credit history? – Having a bad credit score is likely to be a major factor in determining premium rates. Insureds that have good credit tend to be less risk to insure than those with bad credit. Therefore, if your credit history can be improved, you could potentially save money when insuring your Kia Rio by spending a little time repairing your credit.

Advanced GPS tracking and theft deterrents – Owning a car with a theft deterrent system can help lower your rates. Systems that thwart thieves such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your vehicle from being stolen.

Teenagers are high risk – Drivers with little experience tend to be less responsible in a vehicle so they pay higher car insurance rates. Older insureds are proven to be safer behind the wheel, tend to file fewer claims, and get fewer tickets.

The data below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Annual mileage impacts rates – Driving more miles in a year’s time the higher your rate. Most companies charge rates partially by how you use the vehicle. Cars that do not get driven very much receive lower rates compared to those used for work or business. Having an incorrect usage rating on your Rio can cost quite a bit. Make sure your declarations sheet states how each vehicle is driven.

Married people drive safer – Getting married actually saves money on your car insurance bill. Having a spouse may mean you are more responsible and statistics prove married couples file fewer claims.

How much liability insurance – Your car insurance policy’s liability coverage is the coverage that protects you if you are found liable for personal injury or accident damage. Your liability coverage provides legal defense coverage starting from day one. Liability is cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.

Men pay more for insurance – Over the last 30 years, statistics show that females take fewer risks when driving. This data doesn’t prove that females are better drivers. They both have at-fault accidents in similar numbers, but the men have costlier accidents. Men also get higher numbers of serious violations like DUI and reckless driving.

The example below shows the difference between Kia Rio insurance premiums for male and female drivers. The rates are based on no accidents, no driving violations, full coverage, $1,000 deductibles, single marital status, and no policy discounts are applied.

Kia Rio insurance claim data – Insurance companies use historical loss data when determining insurance costs. Vehicles that historically have a trend towards higher claims will cost more for coverage. The information below illustrates the compiled insurance loss statistics for Kia Rio vehicles.

For each policy coverage, the loss probability for all vehicles averaged together is equal to 100. Numbers that are below 100 indicate better than average losses, while values that are above 100 indicate frequent claims or tendency to have higher losses.

Auto Insurance Loss Data for Kia Rio Models
Specific Kia Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Kia Rio 90 109 81 141 158 127

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Cheap auto insurance rates are possible

Cheap Kia Rio insurance in Madison is attainable on the web in addition to many Madison insurance agents, so you need to shop Madison auto insurance with both to have the best rate selection. Some companies don’t offer online quoting and usually these regional insurance providers only sell through local independent agencies.

You just learned some good ideas how you can find affordable Kia Rio insurance in Madison. It’s most important to understand that the more providers you compare, the better chance you’ll have of finding the cheapest Kia Rio rate quotes. Consumers could even find that the biggest savings come from a small local company. These companies may have significantly lower premium rates on certain market segments compared to the large companies like Allstate and Progressive.

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