It’s an obvious assumption that insurance companies don’t want you to look for a cheaper policy. People who get comparison quotes at least once a year will presumably buy a new policy because there is a good chance of finding discount prices. Remarkably, a study showed that people who routinely compared quotes saved approximately $3,400 over four years as compared to drivers who never shopped around for cheaper prices.
If saving money on auto insurance in Madison is the reason you’re here, then learning a little about the best way to compare insurance premiums can help make the process easier.
The best way to find cheaper quotes for Honda S2000 insurance in Madison is to annually compare prices from insurers that insure vehicles in Wisconsin. Drivers can shop around by following these steps.
Step 1: Try to learn a little about how companies set rates and the modifications you can make to keep rates low. Many rating factors that result in higher rates such as traffic violations and a negative credit history can be controlled by being financially responsible and driving safely.
Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO or State Farm, while independent agents can quote rates for a wide range of insurance providers. View prices
Step 3: Compare the new rates to the price on your current policy to determine if switching companies saves money. If you find a lower rate quote and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Notify your current company of your intention to cancel the current policy and submit a completed policy application and payment to the new insurer. Be sure to keep your new certificate verifying coverage in an accessible location in your vehicle.
A tip to remember is to try to compare similar deductibles and liability limits on every quote request and and to compare every insurance company. This enables a fair price comparison and plenty of rates choose from.
Locating the most cost-effective auto insurance policy in Madison is actually quite simple. If you’re already insured, you will most likely be able to cut your premiums using the ideas covered in this article. Although Wisconsin vehicle owners do need to understand how insurance companies determine prices and use it to find better rates.
Companies offering Honda S2000 insurance in Wisconsin
The car insurance companies shown below are our best choices to provide free quotes in Wisconsin. If multiple companies are listed, we recommend you visit as many as you can in order to find the cheapest rates.
Affordable rates on Honda S2000 insurance in Madison with these six discounts
Some providers do not list every discount they offer in an easy-to-find place, so we took the time to find a few of the more well known as well as some of the hidden credits that may apply to you.
- Senior Discount – Mature drivers may be able to get a small discount on rates.
- Resident Student – Any of your kids who live away from home to go to college and do not take a car to college could qualify for this discount.
- Discount for Low Mileage – Low annual miles can qualify you for discounted prices on garaged vehicles.
- Multiple Policy Discount – If you can bundle your auto and homeowners insurance with the same company you will save approximately 10% to 15%.
- Federal Employees – Federal government employees can save as much as 8% with a few insurance companies.
- Seat Belts Save more than Lives – Buckling up and requiring all passengers to use their safety belts could cut 10% or more off the PIP or medical payment premium.
Policy discounts save money, but most discounts do not apply to the entire policy premium. Some only apply to individual premiums such as comp or med pay. Even though it appears having all the discounts means you get insurance for free, you’re out of luck.
Auto insurance companies that may include some of the above discounts include:
If you need lower rates, check with all the companies which credits you are entitled to. Discounts may not be offered in Madison. For a list of insurance companies with the best discounts in Wisconsin, click here.
When should I contact an agent?
Some consumers would rather get professional advice from a licensed agent and doing that can be a smart decision The biggest benefit of comparing insurance online is the fact that you can find the best rates but still work with a licensed agent.
Upon completion of this simple form, the quote information gets sent to insurance agents in Madison who can give free rate quotes for your coverage. There is no need to contact any agents since rate quotes are delivered directly to your email. You’ll get the best rates and a licensed agent to talk to. If you have a need to get a comparison quote from a specific insurance provider, don’t hesitate to visit that company’s website and fill out their quote form.
Finding the right insurer needs to be determined by more than just the premium amount. Any agent in Madison should be willing to answer these questions.
- Who is covered by the car insurance policy?
- What are their preferred companies if they are an independent agency?
- What is their Better Business Bureau rating?
- How much can you save by raising your physical damage deductibles?
- Are they paid to recommend certain coverages?
- How does the company pay claims for a total loss?
- What insurance companies do they work with in Madison?
- Can they help ensure a fair claim settlement?
If you need to find a local Madison insurance agent, there are two different types of agencies from which to choose. Insurance policy providers can be categorized as either exclusive agents or independent agents.
Exclusive Agents
Exclusive agencies generally can only insure with one company such as Allstate, State Farm and Farm Bureau. They generally cannot compare other company’s rates so you need to shop around if the rates are high. Exclusive insurance agents are usually well trained on their company’s products which helps offset the inability to provide other markets.
Below is a list of exclusive agents in Madison willing to provide comparison quotes.
Farmers Insurance – The Arttus Agency
624A Struck St – Madison, WI 53719 – (608) 271-9395 – View Map
Farmers Insurance – Debra Armstrong
621 N Sherman Ave, Ste B16 – Madison, WI 53704 – (608) 222-1400 – View Map
Farmers Insurance: Jesus Carvajal
5555 Odana Rd #201 – Madison, WI 53719 – (608) 278-7055 – View Map
Independent Agents
These type of agents can sell policies from many different companies and that allows them to write policies through many companies and find the cheapest rate. If they find a lower price, your agent can just switch to a different company which is easy for the insured.
If you need lower rates, you definitely need to include price quotes from multiple independent agents for the best price selection.
Shown below are Madison independent insurance agencies who can help you get price quote information.
Independent Insurance Services Inc.
2960 Triverton Pike Dr Suite 101 – Madison, WI 53711 – (608) 273-3325 – View Map
The Curtis Agency
2929 Atwood Ave – Madison, WI 53704 – (608) 250-2501 – View Map
R and S Insurance
1520 Vernon St – Madison, WI 53703 – (608) 251-0022 – View Map
Once you have received acceptable answers as well as the cheapest Honda S2000 insurance in Madison quotes, you may have just found a car insurance agent that meets your needs to provide insurance coverage.
Insurance coverage basics
Understanding the coverages of insurance can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Listed below are typical coverage types offered by insurance companies.
Uninsured Motorist or Underinsured Motorist insurance
This provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Honda S2000.
Due to the fact that many Wisconsin drivers carry very low liability coverage limits (Wisconsin limits are 25/50/10), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.
Collision coverage
This coverage pays to fix your vehicle from damage from colliding with an object or car. A deductible applies then your collision coverage will kick in.
Collision insurance covers things like hitting a mailbox, rolling your car and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. Drivers also have the option to bump up the deductible on your S2000 to bring the cost down.
Comprehensive coverage (or Other than Collision)
This pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims such as fire damage, rock chips in glass and damage from getting keyed. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Coverage for liability
This provides protection from injuries or damage you cause to other people or property in an accident. It protects you from claims by other people, and doesn’t cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/10 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a total limit of $10,000 for damage to vehicles and property.
Liability coverage pays for things such as medical expenses, court costs, medical services and funeral expenses. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford. Wisconsin state law requires minimum liability limits of 25/50/10 but it’s recommended drivers buy higher limits.
The next chart shows why the minimum limit may not be enough.
Insurance for medical payments
Coverage for medical payments and/or PIP provide coverage for expenses for things like rehabilitation expenses, EMT expenses, pain medications and chiropractic care. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not universally available and may carry a deductible
Best auto insurance in Madison
Selecting a highly-rated company is hard considering how many companies are available to choose from in Wisconsin. The rank data shown next can help you analyze which auto insurers to look at when shopping your coverage around.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
One last note
As you shop your coverage around, it’s not a good idea to sacrifice coverage to reduce premiums. In too many instances, an insured cut comprehensive coverage or liability limits and discovered at claim time they didn’t have enough coverage. Your objective should be to purchase a proper amount of coverage at the best price but still have enough coverage for asset protection.
We just covered a lot of ways to reduce Honda S2000 insurance prices online in Madison. The key concept to understand is the more you quote Madison auto insurance, the more likely it is that you will get a better rate. You may even find the lowest prices come from some of the smallest insurance companies. They may cover specific market segments cheaper than the large multi-state companies such as Progressive or GEICO.
More detailed car insurance information can be read at these sites:
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Who Has the Cheapest Madison Car Insurance Quotes for a Nissan Altima? (FAQ)
- Who Has the Cheapest Car Insurance Quotes with Multiple Speeding Tickets in Madison? (FAQ)
- Who Has Affordable Madison Auto Insurance for a Toyota RAV4? (FAQ)
- What Car Insurance is Cheapest for Business Use in Madison? (FAQ)
- Auto Insurance Learning Center (State Farm)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Think You’re a Safe Driver? (State Farm)
- How to shop for a safer car (Insurance Institute for Highway Safety)