Buying economical car insurance for a Chevrolet Equinox in Wisconsin can be really easy, but it is dependent upon a lot of rating criteria such as when you were born, where your vehicle is garaged, and your motor vehicle report. Wisconsin drivers pay on average $624 each year to insure their Equinox, but that price is calculated using a 40-year-old married female driver with full physical damage coverage and $500 deductibles.
When projecting a rate like this, the problem is that you are not 40 and maybe not even a female, you might be single instead of married, and maybe you want higher deductibles. Different coverage needs are the reason why the only real way to find the cheapest rates for your Chevrolet is to put in the effort to do a thorough rate comparison.
Your vehicle's trim level tends to have a direct impact on the annual cost of coverage, so the rate you pay to insure a Equinox LS 2WD will be $58 less than the cost to insure the higher-end Equinox LTZ AWD version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$124||$236||$242||$14||$72||$688||$57|
|Equinox LT 2WD||$124||$236||$242||$14||$72||$688||$57|
|Equinox LS AWD||$124||$236||$242||$14||$72||$688||$57|
|Equinox LT AWD||$124||$236||$242||$14||$72||$688||$57|
|Equinox LTZ 2WD||$140||$278||$242||$14||$72||$746||$62|
|Equinox LTZ AWD||$140||$278||$242||$14||$72||$746||$62|
|Equinox LTZ AWD||$140||$278||$242||$14||$72||$746||$62|
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Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price information does not factor in garaging location in Madison which can lower or raise insurance rates greatly.
Finding out which company quotes the lowest-priced insurance rates for a Chevrolet Equinox involves a little more sweat than just quoting one company's rates. Every car insurance company uses their own formula for setting rates, so to begin we'll rank the insurance companies with the overall best prices in Madison.
Keep in mind that Madison, WI insurance rates are influenced by many factors which can significantly increase or decrease the price you pay. Turning one year older, buying a new vehicle, or getting a driving violation can cause premium changes that can cause some rates to be more affordable than others.
Find Cheaper Auto Insurance for Your Equinox
USAA generally has some of the best car insurance rates in Madison at around $586 annually. Partners Mutual, Erie, Nationwide, and Rockford Mutual also make the cut as some of the most economical Madison, WI auto insurance companies.
In the above example, if you are a customer of Erie and switched to USAA, you may see a yearly savings of upwards of $117. Customers with Nationwide could save as much as $159 a year, and Rockford Mutual policyholders might lower prices by $160 a year.
To get a fast rate comparison, click here or feel free to get quotes from the companies below.
Remember that these rates are averages for all drivers and vehicles in Wisconsin and do not factor in an exact zip code location for a Chevrolet Equinox. So the insurer that can offer you the best price may not even be in the top 30 companies shown above. That points out the importance of why you need to get quotes using your own personalized driver profile and vehicle information.
Accidents and violations increase rates
The best way to receive good insurance rates in Madison for an Equinox is to drive safely and avoid accidents and keep your driving record clean. The illustration below illustrates how speeding tickets and at-fault fender-benders increase insurance costs for each different age category. The rates are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
In the prior example, the average cost of auto insurance per year with no accidents or violations is $979. Add in two speeding tickets and the average cost rises to $1,341, an increase of $362 each year. Now add in two accidents along with the two speeding tickets and the annual cost of insurance for a Chevrolet Equinox increases to an average of $2,850. That's an increase of $1,871, or $156 per month, just for not driving attentively!
Discount Madison auto insurance
Auto insurance companies that provide policies for a Chevrolet Equinox may have policy discounts that can reduce rates by as much as 35% if you are eligible. The best insurance companies and their offered discounts are detailed below.
- American Family has discounts for good student, accident-free, mySafetyValet, defensive driver, early bird, and air bags.
- Farm Bureau discounts include good student, multi-vehicle, 55 and retired, youthful driver, and multi-policy.
- State Farm offers premium reductions for driver's education, good student, anti-theft, passive restraint, and safe vehicle.
- Travelers offers discounts for home ownership, continuous insurance, save driver, multi-policy, early quote, and driver training.
- The Hartford may offer discounts for air bag, anti-theft, defensive driver, bundle, and vehicle fuel type.
- GEICO policyholders can earn discounts including emergency military deployment, driver training, federal employee, air bags, daytime running lights, five-year accident-free, and membership and employees.
- Progressive may have discounts that include multi-vehicle, homeowner, online signing, online quote discount, multi-policy, and continuous coverage.
The diagram below shows the comparison of insurance costs with and without discounts applied. The data assumes a female driver, a clean driving record, no at-fault accidents, Wisconsin state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, claim-free, marriage, homeowner, safe-driver, and passive restraint discounts applied. When these discounts are applied to the policy premium, the average savings per year on insurance for a Chevrolet Equinox is 28% or $340.
The example below demonstrates how choosing different deductibles can impact insurance costs when searching for cheap insurance for a Chevrolet Equinox. Data assumes a single female driver, comprehensive and collision coverage, and no discounts are factored in.
The data above shows that a 40-year-old driver could save $216 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $328 by changing to a $1,000 deductible. Youthful drivers, like the age 20 example, could reduce their rates up to $552 every year just by using higher deductibles.
If you do decide to increase your deductibles, it will be necessary to have spare funds to cover the extra out-of-pocket expense associated with higher deductibles.