This would be a really short article if we could tell you the single company that has the cheapest rates in Wisconsin. It’s not quite that easy, unfortunately, as there are a lot of unknowns such as the miles you drive each year, if you have maintained coverage continuously, and the amount of coverage you want. The content below covers the best ways to avoid overpriced car insurance and will hopefully give the reader a good beginning to your search for cheaper coverage.
The make and model of vehicle you are buying coverage for is a large factor that determines if you can find cheap car insurance for 18 year olds. Vehicles with lots of horsepower, poor passenger safety features, or a history of substantial liability claims will cost quite a bit more to insure than safer, lower-performance models.
The next list outlines auto insurance prices for a selection of the most budget-friendly vehicles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $3,887 |
| Ford Escape XLT 4WD | $3,931 |
| Honda Accord EX-L 4-Dr Sedan | $4,191 |
| Hyundai Elantra SE Touring Station Wagon | $4,197 |
| Volkswagen Jetta S 2.5 Station Wagon | $4,191 |
| Toyota Prius | $4,235 |
| Ford F-150 STX Super Cab 2WD | $4,309 |
| Honda Odyssey EX W/Rear Entertainment | $4,569 |
| Chevrolet Impala LS | $4,576 |
| Chevrolet Malibu Hybrid | $4,613 |
| Jeep Grand Cherokee Laredo 4WD | $4,621 |
| Toyota RAV4 Limited 2WD | $4,613 |
| Toyota Tacoma Double Cab 4WD | $4,622 |
| Dodge Grand Caravan Crew | $4,656 |
| Ford Explorer Eddie Bauer AWD | $4,665 |
| Honda Civic VP 4-Dr Sedan | $4,827 |
| Ford Focus SES 4-Dr Sedan | $4,834 |
| Nissan Altima 2.5 S 4-Dr Sedan | $4,871 |
| Ford Edge Limited AWD | $4,880 |
| Toyota Camry SE | $4,871 |
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Data assumes single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in vehicle location which can increase or decrease rates substantially.
Based on these rates, makes and models like the Honda CR-V, Ford Escape, Honda Accord, and Hyundai Elantra should be a few of the less-costly vehicles to insure for teen drivers. The price for an auto insurance policy will be more expensive just due to the fact that there is a higher risk for 18 year olds, but overall those makes and models will tend to have the best insurance prices that you’ll find.
Figuring out which company offers the best insurance rates for 18 year olds will require a little more sweat than just quoting one company’s rates.
Every insurance company has their own process for filing rates in each state, so we need to take a look at the insurance companies with the overall cheapest rates in Madison, WI. Keep in mind that Wisconsin insurance rates are impacted by many factors which can substantially change the cost of coverage. Turning one year older, buying a new vehicle, or getting a reckless driving citation can trigger price changes that may make certain companies more affordable than the competition.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $604 |
| 2 | Partners Mutual | $608 |
| 3 | Erie | $696 |
| 4 | Rockford Mutual | $732 |
| 5 | Nationwide | $745 |
| 6 | Pekin Insurance | $752 |
| 7 | Integrity Mutual | $762 |
| 8 | Rural Mutual Insurance | $772 |
| 9 | Western National | $777 |
| 10 | Travelers | $828 |
| 11 | The Hartford | $912 |
| 12 | West Bend Mutual | $926 |
| 13 | State Farm | $932 |
| 14 | Auto Club Group | $948 |
| 15 | General Casualty | $954 |
| 16 | Progressive | $1,118 |
| 17 | American Family | $1,137 |
| 18 | Auto-Owners | $1,160 |
| 19 | Farmers | $1,165 |
| 20 | GEICO | $1,202 |
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USAA generally has some of the best car insurance rates in Madison at around $604 annually. Partners Mutual, Erie, Rockford Mutual, and Nationwide also make the cut as some of the cheaper Madison, WI insurance companies.
As shown in the table above, if you buy coverage from Rockford Mutual and switched to USAA, you could earn savings of about $128. Customers with Nationwide could save as much as $141 a year, and Pekin Insurance insureds might realize rate reductions of up to $148 a year.
To see if your current coverage is too expensive, click here to begin a quote or quote rates from the companies below.
Bear in mind that those policy prices are averaged across all types of insureds and vehicles and do not factor in an exact location for 18 year olds. So the insurer that fits your needs best may not even be in the top 30 companies shown above. That emphasizes why you need to get rate quotes from many companies using your own specific driver information and vehicle.
Get discounts on Madison insurance
Insurance companies that sell policies for 18 year olds may also provide price discounts that may potentially lower prices by as much as 40% or more if you qualify. Larger insurance companies and a summarized list of policyholder discounts can be read below.
- GEICO discounts include multi-policy, good student, military active duty, defensive driver, seat belt use, five-year accident-free, and membership and employees.
- Travelers includes discounts for payment discounts, hybrid/electric vehicle, driver training, multi-policy, and multi-car.
- Farm Bureau offers discounts including multi-vehicle, good student, renewal discount, safe driver, 55 and retired, and driver training.
- Liberty Mutual policyholders can earn discounts including newly retired, good student, newly married, new move discount, multi-policy, and exclusive group savings.
- American Family has discounts for multi-vehicle, bundled insurance, early bird, mySafetyValet, accident-free, and air bags.
- Progressive may have discounts that include multi-vehicle, good student, continuous coverage, online quote discount, multi-policy, homeowner, and online signing.
The example below illustrates the difference between car insurance rates with and without discounts. Data assumes a male driver, no tickets, no at-fault accidents, Wisconsin state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with vehicle safety, anti-theft, paid-in-full, good student, passive restraint, and continuous coverage discounts applied. When taking advantage of discounts, theamount saved on insurance for 18 year olds is 28% or $365.
Impact of citations and accidents on Madison insurance rates
A great way to maintain cheap insurance premiums in Wisconsin for teen drivers is to drive safe and avoid tickets and accidents. The chart below highlights how traffic violations and accident claims drive up auto insurance costs for different age groups of insureds. The data is based on a married female driver, full coverage, $250 deductibles, and no discounts are applied.
The data charted above shows the average cost of an auto insurance policy in Wisconsin per year with no violations or accidents is $942. Add in two speeding tickets and the average cost rises to $1,332, an increase of $390 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for 18 year olds goes up to an average of $2,777. That’s an increase of $1,835, or $153 per month, just for a couple of infractions!
Here’s why you should compare rates often
Madison insurance rates are impacted by many factors that control the cost of coverage. Improving your credit score, becoming a homeowner, or getting a driving violation can produce rate changes that may make certain companies more affordable than others.
Not only may your situation change, but companies file new Wisconsin auto insurance rates as often as every quarter in order to remain profitable. An unexpected high level of claims can result in additional price hikes, while a profitable period may produce lower-priced Madison car insurance rates.
As an example, the graph below shows the company with the cheapest car insurance in Madison, WI for a 40-year-old female driver with no violations or accidents, and excellent credit. If we estimate prices based on her personal profile, USAA quotes the most affordable car insurance rates in Madison at $688 annually. This is $473 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance are the rest of the cheapest Madison, WI auto insurance companies.
In this next rate comparison, we will give the driver from the above example a chargeable accident, less-than-perfect credit, and a few traffic violations. Due to the fact that every insurance company uses their own method for determining prices, comparing prices may now present a new list of cheap Madison auto insurance companies as shown below.
Nationwide now has the cheapest insurance rate in Madison with Pekin Insurance, Western National, Travelers, and Partners Mutual now rounding out the top five. This example shows why it is critical to compare rates to get cheap auto insurance rates for 18 year olds. Auto insurance prices are determined by many factors and can change without notice, so the cheapest option the last time you checked may now be an over-priced policy.
Ideas for buying low-cost auto insurance for 18 year olds
Lowering your rates is not difficult, and here are many penny-pinching suggestions that can help drivers get more affordable coverage.
- Maintain a safe distance and avoid accidents
- Good credit scores may make rates cheaper
- Buying car and homeowners insurance together can save money
- Vehicles with safetly features generally cost less to insure
- Save money by only buying liability coverage for older vehicles
- Keep rates low by comparing prices once a year
That last idea is particularly vital, as we emphasized in this write-up. Coverage rates fluctuate constantly, so don’t be hesitant to switch to a new company if a cheaper rate is available.
Many drivers prefer to stick with one company, but we do not recommend it if that stubbornness costs you a fortune every year. Take a couple minutes and compare prices and find cheaper car insurance for 18 year olds in Madison.
If you aren’t clear which coverage you need and would like to have a little guidance when comparing insurance rates for 18 year olds, the insurance agencies below can aid you in deciding which policy fits your needs best. To locate a Madison auto insurance agent near you, click the link at the bottom or click here to get price quotes now.
- Abacus-Bertz Financial
6417 Odana Rd Suite 13 – Madison, WI 53719 – (608) 238-5800 - American Family Insurance – Brian Uelmen
4222 Milwaukee St Ste 81 – Madison, WI 53714 – (608) 241-8688 - GEICO Insurance Agent
2001 W Beltline Hwy Suite 100 – Madison, WI 53713 – (608) 242-9322