Finding the best and cheap car insurance in Wisconsin is easy to find, given the right research.
The first step is to obtain quotes from several insurance companies and follow up on each one’s customer rating and reviews, policy offerings, and credit ratings.
Although it may be your top priority to secure the cheapest car insurance in Wisconsin, it’s essential to find an insurance provider that can process claims reliably and offer you the coverage you need to suit your driving habits.
Shopping for car insurance should be a process that involves gathering quotes and comparing the companies that provided them.
To avoid buying insurance from a provider that won’t be there for you when you need them, look into each insurer’s record for customer satisfaction, policy offerings, and financial strength. It’s vital that you choose a provider with a reliable claims process and coverage options that suit your driving behaviors.
One of the best ways to find an insurance provider you can rely on is to shop from reputable insurance providers with top customer satisfaction ratings.
Cheap Car Insurance In Wisconsin
Here are the top 4 providers of cheap car insurance in Wisonsin:
Progressive writes home and auto insurance policies with competitive and flexible pricing. It offers a variety of coverage extras including sound system and rideshare insurance options, and also makes a variety of discounts available to policyholders.
Customers can customize their pricing and insurance coverage using Progressive’s Name Your Price Tool.
Liberty Mutual is a well-known insurance provider with competitive pricing and customizable coverage options. Customers of Liberty Mutual can choose only the coverage they require, which makes its insurance policies more affordable than many of its competitors.
Add to that its variety of discount options and Liberty Mutual’s 12-month rate guarantee, and it’s easy to see how Liberty Mutual offers some of the cheapest car insurance in Wisconsin.
Allstate has strong financial ratings from all five of the country’s independent rating bureaus. It’s been operating in the U.S. since the 1930s and has since expanded to offer insurance to drivers, homeowners, and business owners around the globe.
Allstate’s competitive features include a Safe-Driving Bonus Check, which is issued to policyholders for every six months they remain accident-free.
Travelers is the oldest insurance company in the U.S. Since the mid-1800s, Travelers has written life insurance policies for its customers, but it has since expanded exponentially to include auto and home insurance policies.
Auto insurance from Travelers is rated highly by both past and current customers.
How Much Does Car Insurance In Wisconsin Cost?
If you’ve got a good idea of the price of car insurance for the average driver in Wisconsin, then you should be able to determine if the rates you’re being quoted are reasonable. According to the National Association of Insurance Commissioners (NAIC), Wisconsin’s insurance rates have increased less than $20 each year since 2011.
Comparing the average price of car insurance in Wisconsin with the average price in nearby states, Wisconsin’s pricing comes out near the middle.
In Illinois, premiums cost an average of nearly $150 more per year than in Wisconsin, whereas, in Iowa, premiums are about $35 less annually. When compared with the national average cost, Wisconsin and its neighboring states all come out well below the national average.
|Average Cost of Car Insurance in Wisconsin||$737.18|
|Average Cost of Car Insurance Countrywide||$1009.38|
When you’re insurance shopping, it’s important to remember that rates are reflective of more than just your vehicle and your driving record.
Many other elements also go into determining your rates, including the specific conditions of the geographic region where you live.
Most insurance providers place grave importance on traffic conditions such as fatal accident rates and traffic density when they calculate your rates. The NAIC tracks these statistics each year and publishes state averages in their annual report.
It’s important to remember though that state averages aren’t always accurate representations of the traffic density or accident rates in major cities throughout Wisconsin such as Milwaukee, Green Bay, or Madison. In larger cities like these, the population density is higher, and therefore, traffic density and accident rates are above-average.
According to the NAIC traffic density report, drivers in Wisconsin traveled 521,242 vehicle miles per highway mile in 2014. The nationwide average was a bit higher at 724,348. This number is calculated by comparing the number of miles traveled by all registered vehicles throughout the state against the total number of highway miles in the state.
When looking at vehicle miles per registered vehicle in Wisconsin, the result is 11,871, slightly below the national average of 12,010. In Wisconsin, in 2014, the fatal accident rate was 0.10 per 1,000 registered vehicles, which is below the U.S. average of 0.13 per the same amount of cars.
The Insurance Information Institute (III) keeps track of the top ten states which experience the most auto thefts, as well as those with the lowest auto theft rates. The state of Wisconsin hasn’t been named in either of these lists.
According to the FBI, there were 172.3 auto thefts per 100,000 residents in 2016 throughout Wisconsin. Most occurred in metropolitan areas like Milwaukee and Green Bay. This rate is quite a bit lower than the national average, which is 236 auto thefts per 100,000 residents.
The National Insurance Crime Bureau’s Hot Wheels Report lists the top ten most frequently stolen vehicles in each state. In 2015, the Dodge Caravan and Honda Civic were those cars for Wisconsin, with a total of 631 Caravans and 404 Civics taken that year.
Other vehicles on this top ten list include the Honda Accord, Chevrolet Impala, and Chrysler Town and Country. If you’re shopping for a new car, you’re likelier to find the cheapest car insurance in Wisconsin if you choose to drive a car with lower theft rates.
In areas with high population densities, you can generally find a higher concentration of vehicles, leading to higher traffic accident rates and theft rates. Because of this, insurance premiums are typically higher in areas that have a high population density.
Of course, it’s important to keep in mind that larger cities have higher population densities than rural areas and smaller towns, and that therefore, insurance rates in those areas are generally lower.
According to the NAIC, in 2014, Wisconsin had a population density of 106 persons per square mile. In the U.S., the average population density across the country is 90 persons per square mile. Residents of Wisconsin who choose to live outside of city limits might find that they’re paying lower insurance premiums than they would within a large city.
Disposable income may not have a direct effect on your insurance costs, but it does play a role in determining the conditions of your specific area. In areas with high average disposable incomes, there’s generally a higher volume of expensive vehicles, which leads to higher theft rates and ultimately, a higher risk to insurance providers.
This risk is passed on to the customer in the form of higher insurance rates.
The NAIC reports that the per capita disposable income per person in 2014 was $39,433 in Wisconsin. This is very close to the national average, which was $40,859. Just like the other conditions mentioned above, it’s important to remember that disposable income may differ between large cities and rural areas, and these numbers are based on state averages.
Minimum Requirements For Car Insurance In Wisconsin
Minimum auto insurance requirements may vary from state to state, but they are almost always required by law. According to the Wisconsin Office of the Commissioner of Insurance, all drivers in the state are required to carry liability and underinsured/uninsured motorist insurance.
The minimum requirements, as set out by the state, are as follows:
- $25,000 for injuries per person
- $50,000 for total injuries per accident
- $10,000 for property damage
Uninsured/Underinsured Motorist Insurance
- $25,000 for injuries per person
- $50,000 for total injuries per accident
Although proof of insurance isn’t required when registering your vehicle or renewing a driver’s license in Wisconsin, it is necessary to provide proof of insurance at the scene of an accident or upon request at a police traffic stop.
Drivers who fail to provide evidence of insurance may face fines of up to $500.
How To Reduce The Cost Of Car Insurance In Wisconsin
Insurance can be expensive, but it’s a necessary expense that can potentially save you thousands or tens of thousands of dollars in repair and medical bills in the event of an accident.
It’s important to remember that there are always steps that can be taken to lower insurance costs, such as:
- Lowering your deductible – this will lower your monthly payments, true, but also means you’ll pay more out of pocket in case of an accident
- Purchasing less coverage on older vehicles – if your car’s value is less than ten times the cost of your insurance policy, it might be worth exploring this option
- Bundle your policies – many large insurance companies offer deep discounts for bundled policies
- Take advantage of discounts offered by your provider – taking the time to research the discounts provided by each insurer can yield unexpected results—carriers often grant them for specific affiliations, safe driving courses, good grades, and more
Many of Wisconsin’s insurance companies make plenty of discounts available to customers who bundle policies, set up automatic payments, consistently drive well, or get good grades in school.
If you want to make sure you’re getting the cheapest car insurance in Wisconsin, it’s important to have all the required information on hand when you purchase your policy, including:
- Detailed information for all vehicles on your policy, including the year, make, model, condition, vehicle identification number (VIN), and overall approximate value
- Driver information for everyone on your policy including full name, date of birth, and school grades if any teen or student drivers will be added to your policy
- Information about where you live including your home address and whether you’ll be parking your vehicle on the street, a driveway, or in a garage
What Affects The Cost Of Car Insurance?
Just as many things can help to reduce your premiums, others can contribute to an increase in your premiums. These include:
- Driving record: Frequently getting speeding tickets or driving under the influence can result in much higher insurance rates.
- The make and model of your vehicle: Choosing to drive a vehicle that has received low safety ratings or that has above-average theft rates increases the risk to your insurance provider, and your premiums as well.
- Driver Age/Experience: Teen drivers and new drivers are almost always charged higher insurance rates. However, this effect can be minimized with driver education courses.
Shopping For Car Insurance in Wisconsin
There are many variables that insurance underwriters consider when they calculate your rates. Of course, this includes the make and model of your vehicle, as well as your age, gender, and driving record.
What many people don’t realize though, is that your geographic location and several elements that pertain to it can also have a significant influence on the price of your insurance policy.
Understanding how where you live affects your premiums helps you know which questions to ask when buying insurance so that you’re able to get the best possible value.
After reading the details above, you should have a good understanding of exactly how specific conditions in your region affect your premiums.
By using this information to ask the right questions and research top insurance companies, you’re sure to find the cheapest car insurance in Wisconsin.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.