Affordable Insurance for a Subaru Legacy in Madison

It goes without saying that insurance companies don’t want their policyholders to compare prices. Drivers who rate shop once a year are very likely to buy a new policy because there is a good chance of finding discount prices. A recent car insurance study discovered that people who compared prices regularly saved about $70 a month compared to drivers who never shopped around.

If finding discount rates on auto insurance in Madison is the reason you’re reading this, understanding how to get rate quotes and compare coverages can help you succeed in finding affordable rates.

It takes a little time, but the best way to get budget auto insurance rates is to compare prices regularly from different companies who can sell car insurance in Madison. Rates can be compared by following these steps.

• First, learn about how car insurance works and the modifications you can make to prevent expensive coverage. Many rating criteria that cause high rates like at-fault accidents, careless driving, and an unacceptable credit rating can be improved by paying attention to minor details. Later in this article we will cover information to help prevent expensive coverage and find missing discounts.
• Second, compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like Progressive or Allstate, while independent agents can quote rates for a wide range of insurance providers. View companies
• Third, compare the new rates to your existing policy to see if cheaper Legacy coverage is available in Madison. If you find better rates and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
• Fourth, notify your current company of your decision to cancel your existing policy. Submit payment and a signed application to your new company or agent. As soon as you receive it, keep your new certificate verifying coverage in an easily accessible location in your vehicle.

An important bit of advice to remember is to try to compare similar limits and deductibles on each quote request and and to get price estimates from as many companies as feasibly possible. Doing this ensures the most accurate price comparison and a thorough selection of prices.

Get cheaper Subaru Legacy insurance rates in Madison

Not many people think insurance is cheap, but there could be available discounts to help offset the cost. Certain discounts will be triggered automatically at the time of quoting, but a few must be specially asked for before being credited. If you do not double check each discount possible, you could be paying more than you need to.

• ABS and Traction Control Discounts – Cars and trucks with ABS braking systems or traction control have fewer accidents so companies give up to a 10% discount.
• Government Employees – Active or retired federal employment could qualify for a slight premium decrease depending on your auto insurance provider.
• Multi-car Discount – Buying a policy with multiple vehicles on one policy can get a discount on all vehicles.
• Telematics Discount – Policyholders that allow their company to track driving patterns through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system might see lower rates as long as the data is positive.
• Own a Home and Save – Owning a home in Madison can save you money because owning a home shows financial diligence.
• Pay Upfront and Save – If you pay your bill all at once as opposed to paying monthly you can avoid the installment charge.

As a sidenote, most of the big mark downs will not be given to the entire cost. Most only apply to individual premiums such as medical payments or collision. So despite the fact that it appears adding up those discounts means a free policy, insurance companies wouldn’t stay in business. But any discount will cut your policy premiums.

The illustration below illustrates the difference between Subaru Legacy insurance premiums with and without discounts applied to the premium. The rate quotes are based on a female driver, no accidents, no driving violations, Wisconsin state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-car, safe-driver, multi-policy, and claim-free discounts applied.

A few of the larger companies and some of the premium reductions they offer are:

• State Farm may include discounts for good student, student away at school, Drive Safe & Save, multiple autos, good driver, driver’s education, and multiple policy.
• Farmers Insurance policyholders can earn discounts including switch companies, alternative fuel, teen driver, good student, and multi-car.
• Progressive discounts include good student, online signing, continuous coverage, multi-policy, multi-vehicle, and homeowner.
• GEICO may have discounts that include good student, multi-vehicle, driver training, air bags, seat belt use, and membership and employees.
• Auto-Owners Insurance has savings for group or association, student away at school, anti-lock brakes, safe driver, paperless, and teen driver.
• The Hartford may offer discounts for driver training, air bag, defensive driver, bundle, anti-theft, and good student.
• Farm Bureau offers discounts including multi-policy, renewal discount, good student, 55 and retired, driver training, multi-vehicle, and safe driver.
• USAA offers premium reductions for family discount, multi-vehicle, safe driver, driver training, military installation, loyalty savings, and annual mileage.

If you need lower rates, check with each insurance company which discounts they offer. Some of the earlier mentioned discounts might not be offered on policies in every state. To see a list of insurers that offer discounts in Wisconsin, follow this link.

The following companies are our best choices to provide comparison quotes in Wisconsin. If you wish to find cheap car insurance in Madison, it’s a good idea that you click on several of them to find the most affordable auto insurance rates.

Subaru Legacy insurance rates and statistics

The price information shown below covers a range of coverage prices for Subaru Legacy models. Learning how insurance prices are figured can assist in making decisions when choosing a new policy provider.

Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Estimates do not factor in your specific Madison location which can increase or decrease insurance rates significantly.

Policy deductibles

The hardest decision when buying coverage is where should you set your physical damage deductibles. The rates shown below can help illustrate the difference in cost of buying low and high comp and collision deductibles. The first rate quote example uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in specific zip code location which can increase or decrease auto insurance rates noticeably.

We can derive from the above data that using a $100 deductible would cost the average driver about $27 more each month or $324 annually across all Subaru Legacy models than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you average at least 33 months between claim filings, you would probably come out ahead by selecting a higher deductible. The table below illustrates a better example of how you can make your own decision.

Subaru Legacy liability-only versus full coverage

The diagram below shows the difference between Subaru Legacy car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no claims or violations, $100 deductibles, single status, and no discounts are taken into consideration.

When to eliminate full coverage

There isn’t a steadfast formula to eliminate comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than around 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your Subaru Legacy book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $6,000 after paying the physical damage deductible. If you are paying over $600 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some circumstances where dropping physical damage coverage is not financially feasible. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

Your situation helps dictate your coverage

Always remember that when buying coverage for your personal vehicles, there isn’t really a best way to insure your cars. Every situation is different.

For example, these questions can help discover whether you would benefit from an agent’s advice.

• Am I covered while delivering pizza?
• Can I insure my car for more than it’s worth?
• Are my custom wheels covered?
• Can I afford to buy a different vehicle if my Subaru Legacy is totaled?
• Why do I have to buy liability insurance?
• Does my insurance cover damage caused when ticketed for reckless driving?
• Am I covered when driving a rental car?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form. It’s fast, doesn’t cost anything and can provide invaluable advice.

Are auto insurance agents of importance?

Certain consumers would rather get professional advice from a licensed agent and that is just fine! Experienced insurance agents can make sure you are properly covered and give you someone to call. An additional benefit of comparing insurance prices online is the fact that you can find cheap auto insurance rates and still buy from a local agent.

After filling out this short form, the coverage information is submitted to insurance agents in Madison that can provide free Madison auto insurance quotes for your auto insurance coverage. It’s much easier because you don’t need to even leave your home since rate quotes are delivered to you. If you need to quote rates from a specific auto insurance provider, you would need to navigate to their website and fill out their quote form.

Picking the best provider should depend on more than just the quoted price. Here are some questions to ask:

• Does the agent recommend any additional coverage?
• Do you qualify for any additional discounts?
• Is the agent CPCU or CIC certified?
• In the event of vehicle damage, can you pick the collision repair facility?
• Are they able to influence company decisions when a claim is filed?
• What insurance companies do they recommend if they are an independent agent?
• Can you get a list of referrals?

When finding a reliable agent, you must know there are a couple types of agencies and how they work. Madison agents may be either exclusive or independent (non-exclusive). Either one can insure your vehicles, but it’s important to know why they differ since it can impact buying decisions.

Exclusive Agents

These type of agents write business for a single company such as Farmers Insurance or State Farm. They are unable to shop your coverage around so you might not find the best rates. They are highly trained on their company’s products which helps them sell on service rather than price. Consumers often use the same agent mostly because of loyalty to the company and the convenience of having all coverages with one company.

The following is a short list of exclusive insurance agents in Madison that are able to give rate quotes.

• American Family Insurance – Josh Erickson Agency LLC
  5530 Eastpark Blvd – Madison, WI 53718 – (608) 241-8444 – View Map
• Allstate Insurance Agent: Susan Kempfer-Weeks
  712 S Gammon Rd – Madison, WI 53719 – (608) 274-4147 – View Map
• American Family Insurance – Daniel Piazza
  2601 Crossroads Dr Ste 100 – Madison, WI 53718 – (608) 241-9000 – View Map

More Madison agents

Independent Agencies or Brokers

Agents in the independent channel often have affiliation with several companies and that is an advantage because they can write policies amongst many companies enabling the ability to shop coverage around. If you are not satisfied with one company, they simply switch companies in-house and that require little work on your part.

When comparing auto insurance rates, we recommend you contact a few independent agents in order to compare the most rates. Many can place coverage with companies that do not advertise much which may provide better rates.

Listed below are Madison independent insurance agencies who can help you get comparison quotes.

• Thomas Bradley Insurance
  1001 Fourier Dr Suite 100 – Madison, WI 53717 – (608) 845-7979 – View Map
• Affiliated Insurance-Wisconsin
  3830 Atwood Ave – Madison, WI 53714 – (608) 273-3361 – View Map
• The Curtis Agency
  2929 Atwood Ave – Madison, WI 53704 – (608) 250-2501 – View Map

More Madison agents

Upon getting answers to your satisfaction for all questions you ask and locked in a price quote, you may have just found an insurance agent that meets the requirements to properly insure your vehicles. Keep in mind policyholders can terminate your policy when you choose so never assume that you are permanently stuck with any specific agency for any length of time.

Three reasons to insure your Subaru vehicle

Despite the high insurance cost for a Subaru Legacy in Madison, insurance is required in Wisconsin but also provides important benefits.

• Almost all states have mandatory insurance requirements which means you are required to carry specific limits of liability insurance if you want to drive 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 your Subaru Legacy has a loan, it’s guaranteed your bank will make it mandatory that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the lender may insure your Subaru at a significantly higher premium and require you to fork over for it.
• Car insurance protects not only your Subaru but also your assets. Insurance will also pay for medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, also covers legal expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your car insurance policy will pay to restore your vehicle to like-new condition.

The benefits of having insurance are definitely more than the cost, particularly if you ever have a claim. On average, a vehicle owner in Madison is currently overpaying as much as $855 a year so it’s very important to do a rate comparison once a year at a minimum to save money.

Insurance coverage basics

Understanding the coverages of your policy can help you determine the right coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your Subaru Legacy.

Since a lot of drivers only carry the minimum required liability limits (which is 25/50/10), their limits can quickly be used up. So UM/UIM coverage is a good idea.

Coverage for liability – This provides protection from damage or injury you incur to other people or property by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 25/50/10 which stand for a $25,000 limit per person for injuries, $50,000 for the entire accident, and a total limit of $10,000 for damage to vehicles and property.

Liability coverage pays for things like pain and suffering, legal defense fees, medical expenses and funeral expenses. How much liability should you purchase? That is a decision to put some thought into, but buy as large an amount as possible. Wisconsin requires drivers to carry at least 25/50/10 but you should consider buying better liability coverage.

The next chart shows why buying low liability limits may not be high enough to adequately cover claims.

Medical payments and PIP coverage – Med pay and PIP coverage reimburse you for immediate expenses such as chiropractic care, doctor visits, funeral costs, nursing services and ambulance fees. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. PIP coverage is not available in all states and may carry a deductible

Comprehensive auto coverage – This covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as hitting a bird, vandalism and damage from getting keyed. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision – This pays for damage to your Legacy resulting from a collision with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims like backing into a parked car, hitting a mailbox and damaging your car on a curb. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also increase the deductible on your Legacy in order to get cheaper collision rates.

Frequent quotes can save

Cheaper insurance in Madison is available from both online companies in addition to local insurance agencies, and you should be comparing both in order to have the best price selection to choose from. There are still a few companies who don’t offer the ability to get a quote online and usually these small insurance companies prefer to sell through independent insurance agents.

Drivers switch companies for a variety of reasons including lack of trust in their agent, denial of a claim, being labeled a high risk driver or high rates after DUI convictions. Whatever your reason, choosing a new company is pretty simple and you could end up saving a buck or two.

We’ve covered many ways to shop for Subaru Legacy insurance online. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. Consumers could even find that the most savings is with an unexpected company.

For more information, feel free to browse these articles:

• Reducing Your Risks in a Car Crash Video (iihs.org)
• Who Has the Cheapest Auto Insurance Rates for Teenage Females in Madison? (FAQ)
• Car Insurance FAQ (Trusted Choice)
• Understanding Limits and Deductibles (Allstate)