It’s an obvious assumption that insurance companies don’t want you to look for a cheaper policy. Consumers who compare rates once a year will, in all likelihood, switch car insurance companies because there are good odds of finding lower prices. A recent survey discovered that people who compared prices regularly saved approximately $3,450 over four years compared to drivers who never compared rates.
If finding the cheapest price for car insurance is your ultimate target, then having a good understanding the best way to compare coverages can help you succeed in saving money.
Really, the only way to find the cheapest price for Kia Soul insurance in Madison is to annually compare prices from insurers in Wisconsin.
First, get a basic knowledge of how insurance works and the things you can control to prevent expensive coverage. Many risk factors that drive up the price like inattentive driving and a not-so-good credit history can be amended by making minor changes in your lifestyle.
Second, compare rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like GEICO and Allstate, while independent agencies can provide prices for many different companies. View prices
Third, compare the new quotes to your current policy premium to see if a cheaper rate is available in Madison. If you can save some money and decide to switch, make sure coverage is continuous and does not lapse.
Fourth, tell your current agent or company of your decision to cancel your current car insurance policy and submit the signed application along with the required initial payment to the new company. As soon as you can, place the new proof of insurance paperwork in your vehicle’s glove compartment or console.
The key thing to remember is to try to compare identical coverages on every quote request and and to compare every company you can. This ensures a fair price comparison and a good representation of prices.
If you currently have auto insurance, you will definitely be able to get lower rates using these techniques. Locating the most cost-effective auto insurance policy in Madison is not that difficult as long as you know where to start. Nevertheless, Wisconsin drivers do need to learn how insurance companies market on the web.
To find more affordable rates, there are a couple of ways to compare prices from auto insurance companies in your area. The recommended way to find the cheapest Kia Soul insurance rates consists of obtaining rate quotes online.
Doing price comparisons online is so simple that it makes it obsolete to drive to all the different Madison insurance agencies. Quoting and buying Kia Soul insurance online eliminates the need for an insurance agent unless you prefer the professional abilities only provided by licensed Madison agents. It is possible to price shop your coverage online and still use a local agent. When price shopping your coverage, obtaining a wide range of quotes helps locate more affordable rates. Not every company provides price estimates online, so it’s important to compare prices from those companies as well.
The companies shown below provide quotes in Wisconsin. If multiple companies are listed, we recommend you visit two to three different companies to get the cheapest price.
Analysis of coverages
The coverage information displayed next showcases detailed analysis of insurance rates for Kia Soul models. Understanding more about how insurance premiums are determined can be of help when making informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rate quotes do not factor in specific zip code location which can increase or decrease prices greatly.
Should you buy full coverage?
The illustration below visualizes the comparison of Kia Soul auto insurance rates with liability coverage only compared to full coverage. The information is based on no tickets, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are taken into consideration.
When to stop buying full coverage
There is no set rule to delete comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Kia Soul replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $2,000 after paying your policy deductible. If premium cost is more than $200 annually for full coverage, then you might consider buying liability only.
There are some circumstances where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage.
Cheaper Madison auto insurance quotes with discounts
Some companies do not advertise the entire discount list in an easy-to-find place, so the list below contains some of the best known and the harder-to-find discounts that you may qualify for. If you aren’t receiving every discount available, you are not getting the best rate possible.
- Life Insurance Discount – Auto insurance companies who offer life insurance give better auto insurance rates if you take out some life insurance too.
- Accident Free – Insureds who avoid accidents and claims are rewarded with significantly better rates on Madison car insurance quote in comparison with frequent claim filers.
- Club Memberships – Being a member of specific professional or occupational memberships or organizations may earn a discount on your policy.
- Policy Bundle Discount – If you combine your homeowners and auto policies and insure them both with the same insurance company you may earn up to 20% off your total Soul insurance premium.
- Waiver for an Accident – This one isn’t a discount, but some insurance companies will allow you to have one accident before raising your premiums so long as you haven’t had any claims for a set time period.
- Theft Prevention System – Cars equipped with tracking devices and advanced anti-theft systems are stolen less frequently and will qualify for a discount on a Madison car insurance quote.
- Distant College Student Discount – College-age children who live away from home to go to college without a vehicle on campus can receive lower rates.
- Defensive Driver Discount – Taking part in a defensive driver course could save 5% or more and also improve your driving technique.
- Military Discounts – Being on active duty in the military could qualify you for better premium rates.
- Pay Now and Pay Less – If you pay your entire premium ahead of time rather than paying in monthly installments you can avoid the installment charge.
A little note about advertised discounts, most of the big mark downs will not be given to your bottom line cost. The majority will only reduce individual premiums such as medical payments or collision. So despite the fact that it appears having all the discounts means you get insurance for free, you won’t be that lucky. Any qualifying discounts should help reduce your policy premium.
The chart below illustrates the comparison of Kia Soul auto insurance costs with and without policy discounts. The rates are based on a male driver, no claims or driving citations, Wisconsin state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, safe-driver, multi-policy, homeowner, and multi-car discounts applied.
A few of the larger companies and a summarized list of policyholder discounts can be read below.
- The Hartford has savings for air bag, anti-theft, good student, defensive driver, and vehicle fuel type.
- American Family offers discounts including good driver, defensive driver, TimeAway discount, accident-free, multi-vehicle, and Steer into Savings.
- Progressive may have discounts that include online quote discount, homeowner, multi-policy, online signing, good student, continuous coverage, and multi-vehicle.
- Travelers offers premium reductions for home ownership, save driver, payment discounts, IntelliDrive, and multi-policy.
- Farmers Insurance discounts include bundle discounts, distant student, multi-car, homeowner, alternative fuel, electronic funds transfer, and mature driver.
- USAA may include discounts for family discount, multi-vehicle, military installation, new vehicle, and vehicle storage.
- Liberty Mutual policyholders can earn discounts including good student, new move discount, preferred payment discount, newly married, multi-policy, safety features, and newly retired.
Check with all companies you are considering to apply every possible discount. Some discounts may not apply to policies in every state.
Why you need insurance for your Kia vehicle
Despite the fact that insurance is not cheap in Madison, paying for insurance is required in Wisconsin but it also protects you in many ways.
- Most states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability insurance coverage in order to license the vehicle. 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 Kia Soul, almost every bank will force you to have physical damage 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 more expensive rate and require you to fork over for the much more expensive policy.
- Insurance safeguards not only your Kia but also your financial assets. Insurance will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. Liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of carrying adequate insurance more than cancel out the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer is overpaying over $850 per year so it’s important to compare rates at every renewal to make sure the price is not too high.
Compare rates but work with a neighborhood Madison auto insurance agent
Many people still prefer to go talk to an agent and that can be a great decision An additional benefit of comparing insurance online is the fact that you can find the lowest rates and still choose a local agent.
By using this simple form, your information is emailed to companies in Madison who will give you bids for your insurance coverage. It’s much easier because you don’t need to drive around due to the fact that quote results will go to your email. Get lower rates and a licensed agent to work with. If for some reason you want to compare prices from a specific insurance company, don’t hesitate to visit that company’s website and fill out the quote form the provide.
Picking a company needs to be determined by more than just a low price. A good agent in Madison will have answers to these questions.
- Does the agency have a good rating with the Better Business Bureau?
- If your car is in the repair shop, do you have coverage for a rental car?
- Are all drivers listed on the coverage quote?
- Will their companies depreciate repairs to your car based on the mileage?
- How are claims handled?
- Can you get a list of referrals?
If you’re trying to find a reliable insurance agent, it can be helpful to understand the different types of agencies and how they can quote your rates. Insurance agencies can be described as either independent (non-exclusive) or exclusive.
Exclusive Insurance Agents
These type of agents write business for a single company and examples are State Farm, AAA, Farmers Insurance or Allstate. They usually cannot place coverage with different providers so always compare other rates. These agents are well schooled on what they offer which helps them sell on service rather than price.
Listed below is a list of exclusive agents in Madison that can give you price quote information.
American Family Insurance – Josh Erickson Agency LLC
5530 Eastpark Blvd – Madison, WI 53718 – (608) 241-8444 – View Map
American Family Insurance – Jennifer Haack Agency LLC
3312 Packers Ave – Madison, WI 53704 – (608) 249-2182 – View Map
Independent Insurance Agencies
Independent insurance agents do not write with just one company and that gives them the ability to insure through many companies and find the cheapest rate. If you are not satisfied with one company, they simply switch companies in-house and you stay with the same agent.
When comparing rate quotes, you should always compare prices from several independent agencies to maximize your price options.
Below is a short list of independent insurance agents in Madison willing to provide rate quotes.