Astonishing but true according to a recent study, nearly 70% of consumers kept their coverage with the same auto insurance company for over three years, and 38% of customers have never compared quotes from other companies. Most drivers in Madison could save an average of $400 each year just by getting comparison quotes, but they don't want to take the time to shop around.
The recommended way to get affordable Acura ILX insurance in Madison is to make a habit of comparing prices annually from different companies who can sell car insurance in Wisconsin. Price quotes can be compared by following these guidelines.
Step 1: Take a little time to learn about auto insurance and the changes you can make to drop your rates. Many things that are responsible for high rates such as speeding tickets, careless driving and a negative credit rating can be improved by making minor changes in your lifestyle. Later in this article we will cover tips to get cheaper coverage and find hidden discounts.
Step 2: Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like Progressive or State Farm, while agents who are independent can quote prices for many different companies. View prices
Step 3: Compare the new rate quotes to the premium of your current policy to see if cheaper ILX coverage is available. If you find a lower rate and make a switch, ensure there is no coverage lapse between policies.
Step 4: Notify your agent or company of your decision to cancel your current policy. Submit a completed application and payment to your new company or agent. As soon as coverage is bound, place your new certificate verifying proof of insurance in your vehicle's glove compartment or console.
An important bit of advice to remember is to try to compare identical deductibles and limits on each price quote and and to get rates from as many companies as feasibly possible. Doing this guarantees a level playing field and a good representation of prices.
If you have a current auto insurance policy or just want to reduce your rates, use these cost-cutting techniques to lower your rates while maintaining coverages. Buying affordable auto insurance in Madison seems hard but is not really that difficult. You only need an understanding of the least time-consuming way to compare company rates online.
Most major insurance companies make it easy to get insurance quotes direct online. Getting quotes for Acura ILX insurance in Madison is very simple as you just type in your coverage preferences into the quote form. When complete, the system orders credit information and your driving record and provides a quote based on many factors. This helps simplify price comparisons, and it's very important to do this if you are searching for the best rate possible.
To get comparison pricing now, consider comparing rates from the companies shown below. To compare your current rates, we recommend you type in the insurance coverages just like they are on your policy. Doing this assures you will be getting rate quotes based on the exact same insurance coverage.
The providers in the list below are ready to provide comparison quotes in Wisconsin. In order to find the best auto insurance in Wisconsin, we suggest you visit two to three different companies in order to find the lowest rates.
Acura ILX insurance discounts in Madison
Companies offering auto insurance don't always advertise every available discount very well, so the below list has some of the more common and also the lesser-known credits available to lower your premiums when you buy Madison auto insurance online.
- Accident-Free Discounts - Drivers who don't have accidents can save substantially as compared to policyholders that have many claims.
- Senior Citizen Rates - Drivers over the age of 55 may be able to get lower premium rates.
- Federal Employees - Having worked for a branch of the government can earn a discount up to 10% with certain companies.
- Good Grades Discount - This discount may save you up to 25%. You can use this discount normally up until you turn 25.
- Own a Home - Owning a home in Madison can get you a discount because it is proof of financial responsibility.
- Air Bag Discount - Vehicles with factory air bags or automatic seat belts may get savings of more than 20%.
- Discount for New Cars - Adding a new car to your policy is cheaper because newer vehicles keep occupants safer.
- Seat Belts Save more than Lives - Using a seat belt and requiring all passengers to fasten their seat belts can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
- Low Mileage - Driving less may enable drivers to earn discounted car insurance rates on garaged vehicles.
As a disclaimer on discounts, most credits do not apply to all coverage premiums. The majority will only reduce individual premiums such as comp or med pay. Even though it may seem like having all the discounts means you get insurance for free, car insurance companies aren't that generous.
A list of car insurance companies and some of the discounts are outlined below.
- State Farm includes discounts for multiple policy, Drive Safe & Save, student away at school, good driver, safe vehicle, good student, and multiple autos.
- GEICO offers discounts for military active duty, anti-lock brakes, defensive driver, good student, driver training, and federal employee.
- Progressive offers discounts including multi-vehicle, online quote discount, homeowner, online signing, and good student.
- 21st Century offers premium reductions for driver training, student driver, homeowners, theft prevention, and air bags.
- American Family may offer discounts for early bird, mySafetyValet, Steer into Savings, TimeAway discount, and accident-free.
- The Hartford may have discounts that include air bag, good student, driver training, vehicle fuel type, and bundle.
- AAA has savings for good driver, multi-car, AAA membership discount, education and occupation, pay-in-full, and good student.
Double check with every company which discounts can lower your rates. A few discounts may not apply everywhere. To see companies who offer cheap Acura ILX insurance quotes in Wisconsin, click here.
Are insurance agencies used anymore?
Many drivers would rather sit down and talk to an agent and that is a smart decision Good agents can point out coverage gaps and give you someone to call. One of the benefits of getting online price quotes is the fact that drivers can get cheap car insurance quotes and also buy local.
To make it easy to find an agent, after completing this form (opens in new window), your insurance data gets sent to insurance agents in Madison who will return price quotes for your insurance coverage. It simplifies rate comparisons since you won't have to search for any insurance agencies since price quotes are sent directly to your email. If you have a need to compare prices from a specific company, just find their quoting web page to submit a rate quote request.
Finding a good provider requires more thought than just the bottom line cost. You should also get answers to these questions.
- Do they specialize in personal lines coverage in Madison?
- Does the company have a local claim office in Madison?
- Can they provide you with a list of referrals?
- Are they in the agency full-time?
- How experienced are they in personal risk management?
- Do they have a Better Business Bureau rating in Madison?
- Will high miles depreciate repair valuations?
If you are wanting to purchase car insurance from a reputable insurance agent or broker, it helps to know the two types of agencies and how they can quote your rates. Insurance agencies in Madison are categorized either exclusive or independent. Either one can do a good job, but it's worth learning how they are different because it can influence your agent selection.
Agents of this type can only place business with one company and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents cannot compare rates from other companies so they are skilled at selling on more than just price. Exclusive insurance agents are usually well trained on their company's products and that enables them to sell even at higher rates.
Shown below is a short list of exclusive agents in Madison who may provide you with price quote information.
Independent Insurance Agents
Independent agencies are not restricted to one company and that enables them to quote your coverage through many companies and find the cheapest rate. To transfer your coverage to a different company, an independent agent can move your coverage and that require little work on your part. When comparing rates, we recommend you get some free quotes from a couple of independent agencies so that you can do a thorough price comparison.
Listed below is a short list of independent insurance agencies in Madison who can help you get comparison quotes.
Your situation helps dictate your coverage
When quoting and choosing your policy for your vehicles, there isn't really a one-size-fits-all type of policy. You are unique and a cookie cutter policy won't apply. For instance, these questions may help highlight whether your personal situation would benefit from professional advice.
- Are my friends covered when driving my car?
- When should my teen driver be added to my policy?
- How much underlying liability do I need for an umbrella policy?
- Do I need medical payments coverage since I have good health insurance?
- Is my camper covered by my car insurance policy?
- Does coverage extend to Mexico or Canada?
- How can I find cheaper teen driver insurance?
- Do I need added coverage for expensive stereo equipment?
If you don't know the answers to these questions, you may need to chat with a licensed agent. If you don't have a local agent, fill out this quick form or you can also visit this page to select a carrier It's fast, free and may give you better protection.
How to Lower Your Insurance Prices
A large part of saving on insurance is knowing some of the elements that play a part in calculating the rates you pay for insurance. If you have some idea of what determines base rates, this allows you to make good choices that may result in lower premium levels. Many different elements are part of the calculation when you get your auto insurance bill. A few of the factors are predictable such as your driving record, but some are less obvious such as your credit history or your commute time.
Listed below are some of the most rate-impacting factors insurance companies consider when setting rates.
- Big city or small town - Residing in less populated areas of the country has definite advantages when buying insurance. Residents of big cities have to deal with more traffic problems and much longer commute distances. Fewer drivers translates into fewer accidents in addition to lower liability claims.
- Performance influences premiums - The type of car you need insurance for makes a substantial difference in your rates. The lowest performance passenger models normally have pretty low rates, but your final cost has many other factors.
- Gender matters - Over time, data shows women tend to be less risk to insure than men. However, don't assume that males are worse at driving than females. Males and females are responsible for fender benders in similar numbers, but guys have accidents that have higher claims. Not only that, but men also receive more costly citations such as DWI and reckless driving.
- Insure car and home with the same company - Some insurers apply discounts to clients that purchase more than one policy. It's known as a multi-policy discount. Even if you're getting this discount it's still a good idea to compare other company rates to confirm you are receiving the best rates possible.
- Accidents increase rates - Getting just one moving violation may cause rates to rise by twenty percent. Drivers with clean records tend to pay less for car insurance as compared to those with violations. Drivers with severe tickets like DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 form with their state in order to keep their license.
- Rates increase with policy add-ons - There are many extra add-on coverages that can add up on your ILX policy. Coverages for roadside assistance, better glass coverage, and term life insurance may be wasting your money. You may think they are a good idea when you first buy your policy, but now you might not need them so get rid of them and save.
- Frequent insurance claims will cost you - If you frequently file small claims, you can pretty much guarantee higher rates. Car insurance companies in Wisconsin award the lowest premiums to policyholders who are not frequent claim filers. Your insurance policy is meant to be used in the event of claims that you cannot pay yourself.
- Your occupation can affect rates - Occupations like judges, architects, and medical professionals generally pay higher rates than the rest of us because of high stress and incredibly demanding work hours. On the flip side, occupations such as actors, students and retirees get better rates.
Acura ILX insurance loss data - Companies factor in historical loss data to calculate a rate that offsets possible losses. Vehicles that the statistics show to have increased claim numbers or amounts will be charged more to insure.
The information below illustrates the loss history for Acura ILX vehicles. For each coverage category, the statistical loss for all vehicles, regardless of manufacturer or model, is a value of 100. Values that are below 100 suggest a positive loss record, while percentage numbers above 100 point to more losses or tendency to have higher losses.
Acura ILX Insurance Claim Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Acura ILX 96 94 83 112 111 97BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance does more than just protect your car
Even though it's not necessarily cheap to insure an Acura in Madison, paying for insurance is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means state laws require specific minimum amounts of liability coverage in order to drive the car legally. 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 took out a loan on your Acura ILX, it's guaranteed your bank will make it a condition of the loan that you have full coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the lender will be forced to insure your Acura at a much higher rate and force you to pay a much higher amount than you were paying before.
- Insurance protects not only your car but also your financial assets. Insurance will also pay for medical transport and hospital expenses that are the result of an accident. Liability coverage will also pay for a defense attorney if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than offset the price you pay, especially with large liability claims. The average driver in America is wasting up to $820 a year so it's important to compare rates once a year at a minimum to be sure current rates are still competitive.
Affordable auto insurance rates are out there
In this article, we covered some good ideas how to lower your Acura ILX insurance rates in Madison. The most important thing to understand is the more rate quotes you have, the higher the chance of saving money. Consumers may even find the biggest savings come from some of the lesser-known companies. Regional companies may cover specific market segments cheaper than the large multi-state companies such as State Farm, GEICO and Nationwide.
As you restructure your insurance plan, never skimp on critical coverages to save a buck or two. In many cases, an insured dropped collision coverage and learned later that it was a big error on their part. Your objective should be to purchase a proper amount of coverage at the best possible price, but don't skip important coverages to save money.
Much more information about auto insurance in Wisconsin can be read on the following sites:
- Steps to Take After an Auto Accident (Insurance Information Institute)
- What Auto Insurance is Cheapest for College Students in Madison? (FAQ)
- Who Has Affordable Auto Insurance for Young Drivers in Madison? (FAQ)
- Who Has Cheap Auto Insurance for 16 Year Olds in Madison? (FAQ)
- Who Has the Cheapest Auto Insurance for Used Cars in Madison? (FAQ)
- What Insurance is Cheapest for Immigrants in Madison? (FAQ)
- What Insurance is Cheapest for Drivers Under 25 in Madison? (FAQ)
- Who Has Affordable Madison Car Insurance for High Risk Drivers? (FAQ)
- How Much are Car Insurance Quotes for Low Credit Scores in Madison? (FAQ)
- Determining Auto Insurance Rates (GEICO)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)