Nobody that owns a car likes paying for auto insurance, especially knowing the cost is way too high.
It's amazing but the vast majority of consumers renewed their policy with the same company for a minimum of four years, and nearly half have never compared auto insurance rates at all. Consumers in Wisconsin could pocket almost 30% a year, but they just assume it's a time-consuming process to compare rates and save money.
Many insurers vie to insure your vehicles, and because of this it can be hard to compare insurers to find the best price available on auto insurance.
It's a good habit to take a look at other company's rates quite often since insurance prices go up and down regularly. Despite the fact that you may have had the lowest rate on auto insurance a few years ago you may be paying too much now. There is lot of inaccurate information about auto insurance out there, but you can learn the best ways to reduce your auto insurance bill.
When comparison shopping, comparing all the rates in your area will enable you to find a lower rate. Some companies don't provide online quotes, so you need to compare quotes from them, too.
The companies shown below are our best choices to provide price quotes in Greenfield, WI. If several companies are displayed, it's highly recommended you visit two to three different companies to get a more complete price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Extended Cab 2WD||$710||$355||$59|
|Chevrolet Impala LTZ||$958||$479||$80|
|Chevrolet Silverado LT Regular Cab 2WD||$870||$435||$73|
|Dodge Ram Quad Cab Sport 4WD||$634||$317||$53|
|Ford Escape XLT 2WD||$676||$338||$56|
|Ford F-150 FX2 2WD||$834||$417||$70|
|Ford Focus SES 2-Dr Coupe||$758||$379||$63|
|Honda Accord LX-S 2-Dr Coupe||$850||$425||$71|
|Honda CR-V EX 2WD||$588||$294||$49|
|Honda Civic VP 4-Dr Sedan||$784||$392||$65|
|Jeep Grand Cherokee Limited 4WD||$826||$413||$69|
|Jeep Wrangler Sahara 4WD 2-Dr||$682||$341||$57|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,052||$526||$88|
|Toyota Camry LE||$878||$439||$73|
|Toyota Corolla LE||$654||$327||$55|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Price estimates do not factor in specific zip code location which can modify coverage prices considerably.
Full coverage rates vs. liability-only
The diagram below examines Nissan Altima insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Wisconsin. Data assumes no claims or driving violations, $100 deductibles, married female driver, and no other discounts are factored in.
Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.
Are you wasting money paying for full coverage?
There is no specific rule to stop buying full coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let's say your Nissan Altima book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $2,000 after you pay the deductible. If premiums are more than $200 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few situations where eliminating full coverage is not in your best interest. If you haven't paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
When to drop full coverage
There isn't a steadfast formula for excluding physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
For example, let's say your Chevrolet Cruze replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $3,000 after you pay the deductible. If it's costing in excess of $300 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some scenarios where eliminating full coverage is not in your best interest. If you haven't paid off your loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Physical damage deductibles
The illustration below shows how different deductible levels and can raise or lower Toyota Corolla insurance prices for different insured age categories. The information is based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.
Toyota Corolla rates are for example purposes only. To get rates for your specific vehicle, click here.
Three reasons car insurance is important
Despite the high cost, car insurance may not be optional for several reasons.
First, almost all states have minimum mandated liability insurance limits which means you are required to carry specific minimum amounts of liability protection in order to license the vehicle. 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 car, most banks will stipulate that you have insurance to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender will be forced to insure your vehicle at a more expensive rate and require you to fork over for the expensive policy.
Third, car insurance protects both your car and your assets. Insurance will also pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to repair the damage.
The benefits of having car insurance definitely exceed the price paid, especially if you ever need it. According to a survey of 1,000 drivers, the average driver overpays as much as $825 a year so shop around each time the policy renews to ensure rates are competitive.
Be skeptical of auto insurance ads
Popular auto insurance providers such as 21st Century, Allstate and State Farm seem to constantly run ads on television and other media. They all seem to make the same claim about how much you will save if you switch your auto insurance coverage to their company. How is it possible that every company can charge lower premium rates? It's all in the numbers.
All companies have an ideal profile for the driver that is profitable for them. For example, a driver they prefer should be a married male, is a homeowner, and insures a new vehicle. Any person that matches those criteria is entitled to the best price and is almost guaranteed to save when switching.
Potential insureds who fall outside these criteria will be quoted a higher premium which usually ends up with the customer buying from someone else. The wording the ads use say "people who switch" but not "all drivers who get quotes" save money. That's the way insurance companies can confidently claim big savings.
Because each company has a different risk profile, you really should compare free Greenfield auto insurance quotes often. It's impossible to know with any certainty which company will have better prices than you're paying now.
These discounts can lower your insurance rates
Some insurance providers don't always advertise all discounts very well, so here is a list a few of the more well known and the harder-to-find credits available to lower your premiums when you buy Greenfield auto insurance online.
- E-sign - Many companies will discount your bill up to fifty bucks for buying your policy over the internet.
- Save over 55 - Drivers that qualify as senior citizens are able to get a slight reduction on a Greenfield auto insurance quote.
- Service Members Pay Less - Having an actively deployed family member may lower your premium rates slightly.
- Government Employee Discount - Being employed by or retired from a federal job may reduce rates when you quote Greenfield auto insurance depending on your insurance provider.
- Anti-lock Brakes - Cars with ABS braking systems or traction control have fewer accidents and earn discounts up to 10%.
- Student Discounts - Excelling in school could provide a savings of up to 20% or more. This discount can apply well after school through age 25.
While discounts sound great, it's important to understand that some of the credits will not apply to all coverage premiums. Some only reduce specific coverage prices like physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, company stockholders wouldn't be very happy. Any amount of discount will definitely lower your policy premiums.
To view providers with the best discounts in Greenfield, click this link.
Neighborhood insurance agents
A small number of people still prefer to buy from a local agent. A good thing about comparing car insurance online is you may find lower rates but also keep your business local. And providing support for neighborhood insurance agencies is still important in Greenfield.
Once you complete this simple form, your coverage information is transmitted to local insurance agents in Greenfield who can give free rate quotes for your insurance coverage. There is no need to contact any agents due to the fact that quote results will go to you directly. You can most likely find cheaper rates and work with a local agent. In the event you want to get a rate quote from a specific car insurance provider, you would need to navigate to their website and give them your coverage information.
Choosing an insurer shouldn't rely on just the quoted price. These are some questions you should get answers to.
- Are they giving you every discount you deserve?
- If you are a high risk driver, do they have special markets for your coverage?
- How long has their agency been in business in Greenfield?
- Do they offer rental car reimbursement?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Is there any savings for paying the full premium?
- Do they review policy coverages at every renewal?
- Does the agent have professional designations like CIC, CPCU or AIC?
Once you have reasonable responses to your questions as well as an affordable premium quote, most likely you have located an provider that meets the criteria to adequately provide car insurance. Just keep in mind you are entitled to terminate coverage at any time so don't think that you are permanently stuck with a specific company for the entire policy term.
When do I need an agent's advice?
When quoting and comparing the best insurance coverage, there is no "best" method to buy coverage. Your financial needs are unique and your insurance should be unique as well. These are some specific questions may help you determine if you would benefit from an agent's advice.
- What is an umbrella policy?
- Who does medical payments coverage extend to?
- Is my nanny covered when driving my vehicle?
- Who sells insurance for high-risk drivers?
- Does my vehicle need full coverage?
- When should I have rental car coverage?
- Should I sign the liability waiver when renting a car?
If it's difficult to answer those questions but you know they apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area.
Smart shoppers get results
You just read many ways to compare auto insurance prices in Greenfield. The key concept to understand is the more providers you compare, the better likelihood of getting low cost Greenfield auto insurance quotes. You may even be surprised to find that the biggest savings come from the least-expected company. They may have significantly lower rates on certain market segments as compared to the big name companies such as GEICO and State Farm.
Discount auto insurance in Greenfield can be sourced online in addition to local insurance agencies, and you should be comparing both to get a complete price analysis. Some auto insurance companies do not offer rate quotes online and most of the time these regional insurance providers prefer to sell through independent agents.
Additional detailed information is available in the articles below:
- Prom Night Tips for Teen Drivers (State Farm)
- Who Has Cheap Milwaukee Auto Insurance Rates for Teenage Males? (FAQ)
- What Car Insurance is Cheapest for a Subaru Forester in Milwaukee? (FAQ)
- How Much is Car Insurance for Real Estate Agents in Milwaukee? (FAQ)
- How to Avoid Common Accidents (State Farm)
- Auto Insurance Basics (Insurance Information Institute)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Can I Drive Legally without Insurance? (Insurance Information Institute)