Deciphering which company offers the lowest-priced insurance rates for drivers with good credit involves a bit more effort than just comparing rates from one or two companies. Every auto insurer uses a little different formula for setting prices, so let’s examine the most competitive insurance companies in Milwaukee.
Find Cheaper Car Insurance for High Credit
|Rank||Company||Cost Per Year|
|6||Rural Mutual Insurance||$772|
|11||West Bend Mutual||$899|
|15||Auto Club Group||$968|
|Find Cheaper Rates Go|
USAA generally has some of the lowest car insurance rates in Milwaukee at around $580 annually. Partners Mutual, Erie, Pekin Insurance, and Rockford Mutual would also make the list of some of the best Milwaukee, WI car insurance companies.
In the above rates, if you are insured with Erie and switched to USAA, you may see a yearly savings of about $137. Insureds with Pekin Insurance may save as much as $165 a year, and Rockford Mutual customers might lower prices by $174 a year.
Bear in mind that those policy prices are averaged across all drivers and vehicles in Wisconsin and do not factor in an exact zip code location for drivers with good credit. So the insurer that fits your age and vehicle best may not even be in the top 30 companies in the list above. That illustrates why you need to get rate quotes using your own driver information and specific vehicle type.
The type of vehicle to be insured is probably the biggest factor when consumers are trying to find the best coverage for drivers with good credit. Vehicles with limited speed and performance, good crash test ratings, or a low likelihood of having liability claims will cost significantly less to insure than high performance models. The next table showcases auto insurance premiums for the cheapest vehicles to insure in Wisconsin.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$1,799|
|Honda CR-V LX 4WD||$1,904|
|Hyundai Elantra GLS Touring Station Wagon||$1,912|
|Ford Edge SE AWD||$1,924|
|Chevrolet Impala LS||$1,931|
|Jeep Grand Cherokee Laredo 4WD||$1,962|
|Chevrolet Malibu LT||$2,000|
|Honda Accord EX-L 4-Dr Sedan||$2,062|
|Toyota Corolla XLE||$2,065|
|Nissan Rogue SL 2WD||$2,103|
|Dodge Grand Caravan SE||$2,135|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$2,179|
|Ford Focus S 4-Dr Sedan||$2,211|
|Nissan Altima 2.5 4-Dr Sedan||$2,252|
|Compare Cheap Rates Go|
Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Price estimates do not factor in specific location which can lower or raise auto insurance rates greatly.
By looking at the data, you can expect models like the Ford Escape, Toyota Prius, Honda CR-V, and Hyundai Elantra are going to be some of the more affordable vehicles to insure for financially responsible drivers.
Get discounts on Milwaukee car insurance
Car insurance companies that offer quotes for drivers with good credit may also give you special discounts that can lower rates by 35% or more if you are eligible for them. A few of the larger companies and a selection of discounts can be found below.
- Farm Bureau offers premium reductions for multi-policy, renewal discount, safe driver, driver training, and 55 and retired.
- Liberty Mutual offers discounts including teen driver discount, preferred payment discount, newly retired, hybrid vehicle, multi-car, and exclusive group savings.
- State Farm discounts include anti-theft, Drive Safe & Save, multiple policy, student away at school, and safe vehicle.
- Auto-Owners Insurance may include discounts for group or association, mature driver, company car, multiple vehicles, paid in full, air bags, and teen driver.
- GEICO may offer discounts for membership and employees, seat belt use, military active duty, air bags, good student, defensive driver, and daytime running lights.
- SAFECO may have discounts that include teen safe driver, safe driver, anti-theft, bundle discounts, and anti-lock brakes.
The diagram below compares annual premium costs with and without discounts applied to the policy rates. The premium estimates are based on a male driver, no claims or violations, Wisconsin state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with marriage, defensive driving course, multiple vehicle, claim-free, anti-theft, and passive restraint discounts applied. When discounts are applied, theaverage amount saved on insurance for drivers with good credit is 28% or $408.
The diagram below illustrates how your choice of deductibles can raise or lower annual premium costs when trying to find cheap insurance for drivers with good credit. The information is based on a single male driver, full physical damage coverage, and no other discounts are factored in.
A 50-year-old driver could lower their car insurance rates by $188 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $284 by switching to a $1,000 deductible. Even younger insureds, like the age 20 example, could roll back prices as much as $622 every year just by choosing higher deductibles when buying full coverage.
When using a larger deductible, it will be required to have additional funds squirreled away to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Safe drivers pay cheaper rates
One of the best ways to get low insurance prices in Milwaukee for financially responsible drivers is to be a good driver and avoid getting tickets or having accidents. The information below demonstrates how citations and at-fault accidents drive up insurance prices for each different age group. The data is based on a single female driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of auto insurance per year with no accidents and a clean driving record is $932. Receive two speeding tickets and the average cost hikes up to $1,236, an increase of $305 each year. Then add one accident along with the two speeding tickets and the yearly cost of insurance for drivers with good credit jumps again to an average of $1,546. That’s an increase of $614, or $51 per month, just for not driving safely!
Tips for finding low-cost car insurance for drivers with good credit
Lowering your rates is not difficult, and here are a few penny-pinching ideas that can help you get cheap auto insurance.
- Drivers with good credit often pay less
- Insure your home and auto with the same company
- Avoid at-fault accidents and claims
- The safer your car, the less it costs to insure
- Do not waste money insuring older vehicles for full coverage
- Check for cheaper rates once a year
That final tip is remarkably significant, as we emphasized in this article. Insurance rates in Milwaukee vary greatly, so don’t be afraid to buy from a different company if you can find a cheaper rate.
Many consumers stick with the same company and that’s fine, but it’s not a good idea if that inflexibility results in costing you lots of hard earned cash every month. It takes less than five minutes to compare prices and find cheaper auto insurance for drivers with good credit.
If you aren’t sure which coverage you need and prefer to have the advice of a professional agent when shopping around for cheaper insurance for financially responsible drivers, the agents below are willing to help you decide which auto insurance policy would work best for you. To locate a Milwaukee auto insurance agent close to you, click the link at the bottom or click here to compare price quotes.
American Family Insurance – Dennis James
6111 W Bluemound Rd – Milwaukee, WI 53213 – (414) 259-0040
American Family Insurance – Gregory Felzer
790 N Milwaukee St #110 – Milwaukee, WI 53202 – (414) 224-9000
Allstate Insurance: Alex Ferreira
3436 South 13th Street – Milwaukee, WI 53215 – (414) 672-2000
American Family Insurance – Jaime Mercado
709 W Layton Ave – Milwaukee, WI 53221 – (414) 481-4400