Automobile

Car Insurance Madison, Wisconsin: What You Need to Know

Wisconsin, like most states, requires all drivers, including those who live in Madison, to have a minimum amount of insurance to operate a motor vehicle on state roadways. When shopping for car insurance, Madison, Wisconsin, drivers may pay higher rates depending on their driving records and other factors.

Wisconsin Car Insurance Requirements

Wisconsin law mandates that all drivers purchase liability and uninsured motorist coverage. That means, according to QuoteWizard, that if you live in Madison and are purchasing car insurance, your policy should include the following:

  • Bodily Injury Liability: $25,000 per person/$50,0000 per accident
  • Property Damage Liability: $10,000
  • Uninsured Motorist Coverage: $25,000 per person/$50,000 per accident for bodily injury or death

    While the numbers listed above meet the state’s minimum requirements, they may not be enough to cover all damages if you’re in a severe accident. That’s why QuoteWizard suggests raising your coverage limits as follows:

    • Bodily Injury Liability: $100,000 per person/$300,000 per accident
    • Property Damage Liability: $100,000

      The Zebra notes that Madison drivers pay, on average, $1150 a year for car insurance. That’s lower than the statewide average of $1181 a year and the annual nationwide average of $1548.

      What Factors Affect Insurance Rates for Madison Drivers?

      If you’re a Madison driver shopping for car insurance, you could end up paying more or less than the citywide average. That’s because car insurance rates are customized according to each driver’s personal profile. According to The Zebra, here’s what an insurance provider typically looks at when calculating your rates:

      • Your Age: Because teen drivers have less driving experience than older drivers, the insurance industry classifies them as high-risk drivers. That means that a teen driver in Madison can expect to pay $3207 more a year for car insurance than a driver in their 20s. If you’re a teen driver, you’ll see your rates decrease as you get older.
      • Your Marital Status: According to industry data, married drivers file fewer claims than single drivers, making them less of a risk to insure. If you’re a married Madison driver, you can save up to $120 a year on your car insurance.
      • Your Gender: The data also shows that male drivers are responsible for more severe accidents than female drivers. Male drivers in Madison can expect to pay $19 more a year for insurance than female drivers.
      • Your Driving History: If you have at-fault accidents, speeding tickets, or other violations on your driving record, you’ll pay higher rates than Madison drivers with clean records. Moving violations cause insurance companies money, which is why providers reward safe drivers with lower rates.
      • Your Credit Score: The insurance industry correlates a driver’s credit score with how reliable they are and how likely they are to file claims. Drivers with higher credit scores are seen as more reliable, which is why they pay lower rates. If you’re a Madison driver with a “Very Poor” score, you can save up to $907 by improving your score to the “Fair” tier. Drivers who move from the “Very Poor” tier to the “Exception” tier can earn a 60 percent discount.

        Comparing Car Insurance Quotes for Madison Drivers

        If you want to save money on car insurance, you should shop around for quotes from various companies. Each provider has its own formula for calculating rates, so they vary from one insurance company to the next. MoneyGeek gathered quotes from several companies that sell insurance in Madison to find the cheapest rates for different groups of drivers. Here’s what they found for drivers who want to meet Wisconsin’s required minimums:

        • USAA: $171 a year
        • GEICO: $231 a year
        • AAA: $231 a year
        • Erie: $254 a year
        • State Farm: $276 a year
        • Progressive: $289 a year
        • Acuity: $341 a year
        • Travelers: $392 a year
        • American Family: $489 a year
        • Nationwide: $469 a year
        • Farmers: $518 a year
        • Allstate: $570 a year
        • MetLife: $524 a year

          If you prefer to purchase full coverage, here’s what you can expect to pay, on average:

          • USAA: $381 a year
          • GEICO: $426 a year
          • AAA: $589 a year
          • Erie: $577 a year
          • State Farm: $583 a year
          • Progressive: $587 a year
          • Acuity: $681 a year
          • Travelers: $706 a year
          • American Family: $674 a year
          • Nationwide: $817 a year
          • Farmers: $919 a year
          • Allstate: $920 a year
          • MetLife: $1071 a year

            MoneyGeek also analyzed quotes for drivers with different types of violations on their records. If you’re a Madison driver with a recent speeding ticket, at-fault accident, or DUI on your record, these are your most affordable options:

            • USAA: $442 a year with a recent speeding ticket/$513 a year with an at-fault accident/$661 a year with a DUI
            • State Farm: $638 a year with a recent speeding ticket/$693 a year with an at-fault accident/$638 a year with a DUI
            • Erie: $577 a year with a recent speeding ticket/$713 a year with an at-fault accident/$853 a year with a DUI
            • GEICO: $525 a year with a recent speeding ticket/$724 a year with an at-fault accident/$1079 a year with a DUI
            • American Family: $704 a year with a recent speeding ticket/$704 a year with an at-fault accident/$704 a year with a DUI
            • Progressive: $810 a year with a recent speeding ticket/$1105 a year with an at-fault accident/$686 a year with a DUI
            • Travelers: $979 a year with a recent speeding ticket/$1024 a year with an at-fault accident/$1122 a year with a DUI
            • Accuity: $991 a year with a recent speeding ticket/$1297 a year with an at-fault accident/$1511 a year with a DUI
            • Allstate: $1113 a year with a recent speeding ticket/$1481 a year with an at-fault accident/$1160 a year with a DUI
            • Farmers: $1183 a year with a recent speeding ticket/$1362 a year with an at-fault accident/$1311 a year with a DUI
            • Nationwide: $937 a year with a recent speeding ticket/$1266 a year with an at-fault accident/$1860 a year with a DUI
            • AAA: $1359 a year with a recent speeding ticket/$1154 a year with an at-fault accident/$3424 a year with a DUI
            • MetLife: $1322 a year with a recent speeding ticket/$1748 a year with an at-fault accident/$2551 a year with a DUI

              Check this out if you need additional information, resources, or guidance on car insurance.

              Sources:

              Best Auto Insurance Rates in Madison, WI | quotewizard.com

              Madison, WI Car Insurance | thezebra.com

              Compare the Cheapest Car Insurance Quotes in Madison, WI | moneygeek.com

              How Much Is Car Insurance in Wisconsin: Everything You Need to Know | caranddriver.com

              Full Coverage Insurance: Everything You Need to Know | caranddriver.com

              Car Insurance | caranddriver.com

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