Amazingly, a recent NerdWallet.com study showed that nearly 70% of consumers kept their policy with the same company for well over three years, and almost half have never shopped around. Wisconsin drivers could save nearly $370 a year just by comparing rates, but they won’t spend time to shop around.
Truthfully, the best way to get low-cost auto insurance rates is to start comparing prices yearly from insurers in Madison.
- Step 1: Take a few minutes and learn about coverages and the measures you can take to keep rates in check. Many rating criteria that increase rates such as tickets, at-fault accidents, and a not-so-good credit score can be remedied by making minor changes to your lifestyle. This article provides instructions to prevent expensive rate increases and earn a bigger discount.
- Step 2: Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive or State Farm, while independent agencies can provide prices from multiple sources. View companies
- Step 3: Compare the price quotes to your existing rates and determine if there is any savings. If you can save money and change companies, verify that coverage does not lapse between policies.
- Step 4: Give proper notification to your current agent or company of your intention to cancel the current policy and submit payment along with a signed and completed policy application to the new insurer. When you receive it, store the proof of insurance certificate somewhere easily accessible.
One bit of advice is that you use the same liability limits and deductibles on every price quote and and to get price quotes from as many different insurance providers as possible. This provides a level playing field and the best price selection.
The companies shown below can provide free quotes in Madison, WI. If your goal is to find cheaper auto insurance in Wisconsin, we recommend you click on several of them to get a more complete price comparison.
Madison insurance discounts for a Mazda CX-5
Not too many consumers would say car insurance is affordable, but discounts can save money and there are some available to reduce the price significantly. Most are applied at the time of quoting, but less common discounts must be asked about before being credited.
- Telematics Devices – Insureds that choose to allow driving data collection to analyze their driving habits by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates if they are good drivers.
- Anti-lock Brakes – Cars, trucks, and SUVs that have anti-lock braking systems are much safer to drive and the ABS can save up to 10%.
- Driver Training Discounts – Participating in a class that teaches safe driver techniques could cut 5% off your bill and also improve your driving technique.
- Club Memberships – Belonging to specific professional or occupational memberships or organizations could earn you a nice discount when getting a Madison car insurance quote.
- Service Members Pay Less – Being deployed in the military may lower your rates slightly.
- Seat Belt Usage – Forcing all vehicle occupants to wear their seat belts can save a little on the medical payments or PIP coverage costs.
A little note about advertised discounts, most discount credits are not given to the entire policy premium. Most only cut specific coverage prices like liability, collision or medical payments. Just because it seems like all those discounts means the company will pay you, car insurance companies aren’t that generous.
To choose companies that offer some of these discounts in Wisconsin, click this link.
Compare prices but work with a local Madison insurance agent
Certain consumers just prefer to have an agent’s advice and that is recommended in a lot of cases Professional agents can answer important questions and help you file claims. One of the best bonuses of comparing rates online is that you can find the best rates and also buy local. And providing support for local insurance agents is important especially in Madison.
To find an agent, once you fill out this quick form, your coverage information is sent to agents in your area who can give free rate quotes for your insurance coverage. You never need to visit any agencies because prices are sent to your email. If you have a need to compare rates for a specific company, you would need to navigate to their website and fill out the quote form the provide.
When narrowing the list to find a reputable insurance agent or broker, it can be helpful to understand the different types of agents and how they differ in how they quote coverages. Agents in Madison are either exclusive or independent (non-exclusive). Both types can provide car insurance policies, but we need to point out the differences because it can factor into which agent you choose.
Independent Car Insurance Agencies or Brokers
Agents of this type often have affiliation with several companies so as a result can place your coverage with many different companies and find the cheapest car insurance rates. If premiums increase, your agent can just switch to a different company and you won’t have to switch agencies. When comparing rate quotes, you need to contact multiple independent agents in order to compare the most rates.
The following is a small list of independent insurance agencies in Madison who may provide price quotes.
Exclusive agents are contracted to one company and examples are Farmers Insurance, State Farm, or Allstate. They are unable to provide prices from multiple companies so keep that in mind. These agents are trained well on their company’s products and that allows them to sell at a higher price point.
Listed below are exclusive agents in Madison that are able to give price quotes.
American Family Insurance – Jennifer Haack Agency LLC
3312 Packers Ave – Madison, WI 53704 – (608) 249-2182 – View Map
Finding the right insurance agency should depend on more than just a low price. Here are some questions to ask:
- How much training do they have in personal risk management?
- Will they take your side in the event of a claim?
- Is the agent and/or agency licensed to do business in Wisconsin?
- Does the company allow you to choose your own collision repair facility?
- Does the agent recommend any additional coverage?
- Is the quote a firm price?
- When do they do policy reviews?
- Does the agency support the community they serve?
Six factors that impact insurance premiums
Lots of things are used when pricing auto insurance. Some are pretty understandable like a motor vehicle report, but other factors are not quite as obvious like your vehicle usage and annual miles driven.
Shown below are some of the most rate-impacting factors used by your company to calculate your premiums.
- Cheaper rates using alarm systems – Purchasing a vehicle with advanced anti-theft systems can help lower your rates. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent car theft and help bring rates down.
- Annual miles is a factor – The higher the mileage driven in a year’s time the more you’ll pay to insure your vehicle. Many insurance companies calculate prices based on how the vehicle is used. Autos that sit idle most of the time qualify for better rates than those used for commuting. Ask your agent if your policy is rated on the proper vehicle usage, because improper ratings can cost you money. An incorrectly rated CX-5 may be costing you.
- Stay claim-free and save money – If you frequently file small claims, you should expect much higher rates or policy non-renewal. Insurance companies in Wisconsin provide most affordable rates to insureds who do not rely on their insurance for small claims. Your car insurance is designed for major claims that would cause financial hardship.
- Liability coverage – Your policy’s liability coverage is the coverage that protects you in the event that you are determined to be liable for physical damage or personal injury to other. Liability insurance provides legal defense which can cost thousands of dollars. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so drivers should carry high limits.
- Always keep your car insurance policy in place – Letting your insurance expire is a guaranteed way to increase your rates. And not only will your rates increase, the inability to provide proof of insurance may result in fines or a revoked license. You may need to provide proof of insurance in the form of an SR-22 filing with the Wisconsin motor vehicle department.
- Costs also based on gender – Statistics demonstrate that men are more aggressive behind the wheel. However, don’t assume that women are BETTER drivers than men. Both genders are responsible for accidents at a similar rate, but males cause more damage. They also receive more costly citations like reckless driving and DUI. Male teenagers are the most expensive to insure so they pay the highest premiums.
Mazda CX-5 claim data – Companies study historical loss data to calculate a rate that will offset losses. Vehicles that are shown to have a trend towards higher claim severity or frequency will have a higher premium rate. The next table illustrates the historical insurance loss data for Mazda CX-5 vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles averaged together is a value of 100. Numbers shown that are under 100 represent a good loss history, while values that are 100 or greater indicate higher probability of having a loss or an increased chance of a larger loss.
Mazda CX-5 Insurance Loss Statistics Specific Mazda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mazda CX-5 4dr 2WD 66 88 85 79 83 76 Mazda CX-5 4dr 4WD 71 83 102 79 74 72BETTERAVERAGEWORSE
Statistics from IIHS.org for 2013-2015 Model Years
Three reasons to insure your Mazda CX-5
Despite the fact that auto insurance is not cheap in Madison, auto insurance is required in Wisconsin but also provides important benefits.
First, most states have minimum mandated liability insurance limits which means state laws require specific limits of liability insurance if you don’t want to risk a ticket. 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.
Second, if you took out a loan on your vehicle, it’s most likely the lender will require that you buy insurance to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the lender may insure your Mazda at a much higher premium rate and force you to pay for it.
Third, auto insurance protects both your car and your assets. Insurance will pay for hospital and medical expenses that are the result of an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your car are without a doubt worth the cost, particularly if you ever have a claim. The average driver in Wisconsin overpays as much as $825 a year so compare rate quotes every year to help ensure money is not being wasted.
When getting Madison car insurance quotes online, it’s a bad idea to skimp on critical coverages to save a buck or two. In many instances, someone sacrificed uninsured motorist or liability limits and found out when filing a claim they didn’t purchase enough coverage. Your focus should be to find the BEST coverage for the lowest price, but do not skimp to save money.
We’ve covered some good ideas how to compare Mazda CX-5 insurance prices in Madison. The key thing to remember is the more quotes you get, the better your comparison will be. Consumers could even find that the biggest savings come from some of the lesser-known companies. Some small companies can often insure niche markets at a lower cost as compared to the big name companies such as GEICO and State Farm.
- Auto Insurance Basics (Insurance Information Institute)
- Who Has Cheap Car Insurance for State Employees in Madison? (FAQ)
- What Insurance is Cheapest for Lyft Drivers in Madison? (FAQ)
- Who Has the Cheapest Madison Car Insurance for Drivers Under 21? (FAQ)
- How Much are Auto Insurance Rates for Drivers with Good Credit in Madison? (FAQ)
- Smart Auto Insurance Tips (Insurance Information Institute)
- Choosing a Car for Your Teen (State Farm)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)