If your goal is the lowest price, then the best way to find cheaper car insurance rates in Madison is to start comparing rates regularly from insurers that sell auto insurance in Wisconsin. This can be done by following these steps.
- Step 1: Take a little time to learn about auto insurance and the things you can control to keep rates down. Many rating factors that result in higher prices like at-fault accidents and a lousy credit rating can be remedied by making lifestyle changes or driving safer. Later in this article we will cover the details to prevent high rates and get bigger discounts that may have been overlooked.
- Step 2: Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Allstate, while agents who are independent can provide price quotes for many different companies.
- Step 3: Compare the new rates to your existing rates to determine if you can save on XC60 insurance in Madison. If you can save money, ensure there is no coverage lapse between policies.
An essential thing to point out is to try to use similar coverage information on each price quote and and to look at as many different companies as possible. Doing this helps ensure an accurate price comparison and and a good selection of different prices.
Unbelievably, a large majority of drivers kept buying from the same company for a minimum of four years, and just short of a majority have never even compared quotes to find cheaper rates. Madison drivers could cut their rates by as much as 30% a year, but they underestimate the large savings they would see if they moved their coverage to a different company.
All major auto insurance companies allow consumers to get price estimates direct online. The process is possible for anyone because it’s just a matter of typing in the amount of coverage you want into the quote form. After you submit the form their rating system obtains information on your driving record and credit history and generates a price based on these factors. This streamlines rate comparisons, and it’s absolutely necessary to do this in order to get lower-cost auto insurance pricing.
To save time and find out what other companies charge, take a look at the companies shown below. If you have a policy now, it’s recommended that you enter the coverage information identical to your current policy. This guarantees you will have a price comparison for exact coverage.
The following companies offer quotes in Madison, WI. To find the best auto insurance in Madison, we suggest you visit as many as you can to get the lowest price.
Choosing XC60 insurance is an important decision
Even though it’s not necessarily cheap to insure a Volvo in Madison, insurance is a good idea for several reasons.
- Most states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability coverage in order to drive the car 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 XC60 has a lienholder, most lenders will make it mandatory that you buy full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Volvo for a much higher rate and force you to pay for the expensive policy.
- Insurance protects not only your Volvo XC60 but also your assets. It will also cover medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will cover the repair costs.
The benefits of buying enough insurance are without a doubt worth the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer overpays more than $825 a year so you should quote rates every year to ensure rates are inline.
The coverage information displayed next highlights estimates of insurance policy prices for Volvo XC60 models. Having a better idea how car insurance prices are calculated is important for making decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XC60 3.2 2WD||$226||$358||$256||$16||$76||$932||$78|
|XC60 3.2 AWD||$254||$358||$256||$16||$76||$960||$80|
|XC60 T6 AWD AWD||$254||$422||$256||$16||$76||$1,024||$85|
|XC60 T6-R AWD AWD||$284||$422||$256||$16||$76||$1,054||$88|
|Get Your Own Custom Quote Go|
Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Information does not factor in specific location which can modify rates greatly.
Age, gender, and Volvo XC60 insurance
The chart below compares Volvo XC60 car insurance rates for male and female drivers. Data assumes no driving violations, no at-fault accidents, full coverage, $1,000 deductibles, drivers are single, and no policy discounts are applied.
Cost difference between full coverage and liability
The chart below visualizes the comparison of Volvo XC60 car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no other discounts are factored in.
When to drop comp and collision
There is no written rule for phasing out comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let’s assume your Volvo XC60 claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after the policy deductible has been paid. If you are currently paying more than $300 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some circumstances where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage.
Determine discounts to get cheap Madison car insurance quotes
Insurance can be prohibitively expensive, but you may be missing some discounts to help offset the cost. Certain credits will be shown when you quote, but once in a while a discount must be asked about prior to receiving the credit.
- Distant Student Discount – College-age children who live away from home to go to college and leave their car at home could get you a discount.
- Accident Waiver – Not necessarily a discount, but some companies like Allstate, Progressive, and GEICO allow you one accident before they charge you more for coverage if your claims history is clear for a specific time period.
- Air Bag Discount – Factory air bags may get savings of more than 20%.
- Memberships – Affiliation with a professional or civic organization could earn you a nice discount on your next renewal.
- Discounts for Multiple Vehicles – Insuring primary and secondary vehicles with the same car insurance company can get a discount on all vehicles.
- Low Mileage – Low mileage vehicles could earn substantially lower prices.
- 55 and Retired – Seniors could receive a slight reduction on a Madison auto insurance quote.
- Smart Student Discounts – A discount for being a good student can earn a discount of 20% or more. Earning this discount can benefit you until age 25.
- Use Seat Belts – Forcing all vehicle occupants to buckle up before driving can save 10% or more on the medical payments or PIP coverage costs.
- Bundle and Save – If you insure your home and vehicles with one insurance company you may earn at least 10% off all policies.
Discounts save money, but please remember that most discount credits are not given to the entire cost. The majority will only reduce specific coverage prices like liability and collision coverage. So when it seems like you would end up receiving a 100% discount, you aren’t that lucky.
The chart below illustrates the comparison of Volvo XC60 premium costs with and without policy discounts. The premiums are based on a female driver, no claims, a clean driving record, Wisconsin state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, multi-policy, marriage, homeowner, and safe-driver discounts applied.
A few popular companies and some of the discounts are detailed below.
- State Farm offers premium reductions for good driver, accident-free, passive restraint, good student, defensive driving training, driver’s education, and student away at school.
- Liberty Mutual may offer discounts for new vehicle discount, new move discount, hybrid vehicle, safety features, and newly retired.
- American Family may have discounts that include good student, multi-vehicle, early bird, mySafetyValet, and accident-free.
- Progressive discounts include continuous coverage, homeowner, multi-vehicle, good student, multi-policy, and online quote discount.
- Farmers Insurance has discounts for business and professional, youthful driver, bundle discounts, teen driver, good student, and electronic funds transfer.
- Auto-Owners Insurance offers discounts including teen driver, multiple vehicles, safe driver, group or association, multi-policy, and paperless.
- SAFECO policyholders can earn discounts including teen safety rewards, homeowner, anti-theft, bundle discounts, anti-lock brakes, and teen safe driver.
When quoting, ask every insurance company which discounts can lower your rates. Some credits might not be offered in your state. To view providers with discount rates in Wisconsin, follow this link.
Are auto insurance agents of importance?
Certain consumers still like to have an agent’s advice and that is a smart decision Good agents can point out coverage gaps and give you someone to call. The biggest benefit of getting free rate quotes online is that drivers can save money and get the lowest rates and still have a local agent.
To help locate an agent, after submitting this form (opens in new window), your information is sent to local insurance agents who will give you bids for your insurance coverage. There is no need to find an agent because prices are sent to you directly. If you need to get a price quote from a specific insurance company, you just need to search and find their rate quote page and fill out their quote form.
Finding a good company shouldn’t rely on just the quoted price. These questions are important to ask:
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Where would glass claims be handled in Madison?
- How does the company pay claims for a total loss?
- Is the quote a firm price?
- Do they specialize in personal lines auto insurance in Madison?
- Will a damage claim use OEM or aftermarket replacement parts?
If you are wanting to find a local insurance agency, you must know there are a couple types of insurance agents and how they differ in how they can insure your vehicles. Insurance agencies may be either independent or exclusive. Either can write insurance policies, but it’s worth mentioning the subtle differences since it could factor into buying decisions.
Exclusive Insurance Agencies
Exclusive agencies normally can only provide a single company’s rates such as Allstate, State Farm and Farmers Insurance. Exclusive agents are unable to shop your coverage around so they have no alternatives for high prices. Exclusive agencies are usually well trained on sales techniques which helps them sell on service rather than price.
Below is a short list of exclusive agents in Madison willing to provide comparison quotes.
American Family Insurance – Vicki Wagener Agency LLC
1633 Thierer Rd – Madison, WI 53704 – (608) 249-2184 – View Map
Independent Insurance Agents
Agents in the independent channel are not limited to a single company and that enables them to quote your coverage amongst many companies and get you the best rates possible. If premiums increase, they simply move your policy to a different company which requires no work on your part.
When comparing insurance rates, we highly recommend that you check rates from multiple independent agents for the best price selection.
Listed below are Madison independent insurance agents willing to provide price quote information.
Your situation helps dictate your coverage
When it comes to adequate coverage for your personal vehicles, there really is no cookie cutter policy. Every situation is different.
Here are some questions about coverages that can help discover whether your personal situation might need professional guidance.
- Will my rates increase for filing one claim?
- What are the liability requirements in my state?
- Is water damage covered by my policy?
- How can I find cheaper teen driver insurance?
- Does having multiple vehicles earn me a discount?
- Are my custom wheels covered?
- How does medical payments coverage work?
- How can I get the company to pay a claim?
- If my car is totaled with they pay enough to replace it?
- Can I rent a car in Mexico?
If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, fill out this quick form. It is quick, free and can provide invaluable advice.
Ratings for Madison auto insurance companies
Finding the best insurance provider can be difficult considering how many different companies sell coverage in Wisconsin. The information in the lists below may help you pick which coverage providers you want to consider to insure your vehicles.
Top 10 Madison Car Insurance Companies Overall
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
One last thing to lower rates
Insureds who switch companies do it for a number of reasons such as poor customer service, an unsatisfactory settlement offer, lack of trust in their agent or questionable increases in premium. It doesn’t matter why you want to switch choosing a new insurance company can be easier than you think.
When buying insurance coverage, never buy lower coverage limits just to save a few bucks. There are too many instances where an accident victim reduced comprehensive coverage or liability limits and found out when filing a claim they didn’t purchase enough coverage. Your goal is to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.
Lower-priced Volvo XC60 insurance in Madison can be sourced from both online companies as well as from independent agents in Madison, so you should be comparing quotes from both to get a complete price analysis. Some companies may not have online rate quotes and most of the time these small, regional companies sell through local independent agencies.
To learn more, feel free to browse the articles below:
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
- Who Has Cheap Madison Auto Insurance for 19 Year Olds? (FAQ)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)