The vehicle that is being insured is probably the biggest factor when shopping around for cheaper car insurance after a speeding ticket. Vehicles with limited top-end speed, a plethora of safety features, or low incidents of liability claims will cost quite a bit less to insure than high performance models. The next table shows car insurance rates for the more affordable automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda Odyssey LX||$2,407|
|Honda CR-V LX 2WD||$2,421|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,455|
|Ford Escape XLT 2WD||$2,545|
|Chevrolet Impala LT||$2,598|
|Chevrolet Malibu LT||$2,649|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$2,655|
|Ford Explorer Eddie Bauer 2WD||$2,714|
|Hyundai Sonata GLS 4-Dr Sedan||$2,781|
|Chevrolet Silverado LS Crew Cab 4WD||$2,790|
|Toyota Corolla XRS||$2,797|
|Volkswagen Jetta SE 2.5 Station Wagon||$2,843|
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Price data assumes single female driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, and multi-policy. Price information does not factor in vehicle location which can revise premiums substantially.
Based upon the table data, you can presume that models like the Honda Odyssey, Honda CR-V, Toyota Prius, and Jeep Wrangler are going to be a few of the more affordable vehicles to insure after a few driving violations.
After a few driving violations, one of the more important considerations that are used to help calculate the amount you pay each year for auto insurance is where you live in Milwaukee. Regions with larger populations or more claims tend to have more expensive car insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive cheaper rates.
The following table shows the most expensive areas in Wisconsin after a speeding ticket in which to buy car insurance. Milwaukee comes in at #1 with an annual cost of $1,368 for car insurance, which is around $114 monthly.
|Rank||City||Average Per Year|
|20||Fond du Lac||$995|
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Premium amounts are approximated as vehicle location can influence rates noticeably.
Locating reasonably-priced car insurance is tough enough, and deciding which companies offer the cheapest auto insurance rates after a speeding ticket requires a little more work. Each auto insurance company uses a little different formula for determining rates in each state, so let’s begin by examining the auto insurance companies that tend to have lower prices in Milwaukee, WI.
We do need to point out that Milwaukee auto insurance rates are based on many factors that may substantially change the price you pay. Events such as a birthday, adding a teenager to your policy, or getting into an accident may generate price changes that can make some companies more affordable than the competition.
Find the Cheapest Car Insurance with Licence Points
USAA may have some of the most affordable car insurance rates in Milwaukee at around $598 a year. This is $563 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Rockford Mutual, Erie, and Pekin Insurance also qualify as some of the most economical Milwaukee, WI insurance companies.
As the rates illustrate above, if you are currently insured with Rockford Mutual and switched to USAA, you may see savings of roughly $126. Insureds with Erie could save as much as $126 a year, and Pekin Insurance policyholders might see rate reductions of $147 a year.
Remember that these policy prices are averages for all ages of drivers and types of vehicles and are not factoring in an exact vehicle garaging location after a speeding ticket. So the insurer that is most affordable for your situation may not even be in the top 30 companies shown above. That affirms the importance of why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
How accidents and tickets impact rates in Milwaukee
The best way to score cheap auto insurance premiums in Wisconsin after a few driving violations is to drive carefully and avoid accidents and traffic violations. The chart below illustrates how violations and accident claims can drive up auto insurance rates for different age groups. The premium estimates are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
The data in the chart shows the average cost of auto insurance in Milwaukee per year with a clean driving record and no accidents is $1,092. Receive one speeding ticket and the average cost jumps to $1,232, an increase of $139 each year. Next add one accident along with the one speeding ticket and the annual cost of auto insurance after a speeding ticket jumps again to an average of $1,613. That’s an increase of $521, or $43 per month, just for not being a responsible driver!
Does it make sense to buy full coverage?
Reducing premiums for auto insurance is the goal of most vehicle owners, and one easy way to find cheap insurance after a speeding ticket is to buy liability only. The illustration below visualizes the comparison of auto insurance costs when comparing full coverage to liability only. The costs are based on a clean driving record, no claims, $250 deductibles, single status, and no additional discounts are factored in.
Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs $1,621 per year more than just buying liability only. Many people question when is it safe to stop buying full coverage. There is no exact formula of when to phase out full coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s pretend your vehicle’s settlement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $9,000 after paying the physical damage deductible. If you are paying more than $900 annually for physical damage coverage, then you might want to think about dropping full coverage.
Why you should be shopping around
Wisconsin auto insurance rates are impacted by many factors which can significantly increase or decrease the cost of having a policy. Simply improving your credit, becoming a homeowner, or having an accident can trigger price changes that can now make some companies cheaper than competitors. Not only may your risk profile change, but insurers modify rates every year in order to maintain liquidity for claims. Heavy losses can cause increased rates, while a profitable period can result in cheaper Milwaukee car insurance rates.
The bar chart below shows the cheapest car insurance in Milwaukee, WI for a 45-year-old female driver with no violations or accidents, and great credit. If we estimate rates based on her personal profile, USAA might quote the best car insurance rates in Milwaukee at $816 a year. This is $345 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Nationwide, and Rockford Mutual are the rest of the cheapest Milwaukee, WI auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates a claim or two, less-than-perfect credit, and an imperfect driving record. Because each company uses their own method for determining rates in each state, analyzing rates most likely will result in a completely different list of the cheapest companies as shown below.
Rural Mutual Insurance now has the lowest car insurance rate in Milwaukee with Integrity Mutual, Western National, Travelers, and Partners Mutual also being competitive. This shows why drivers need to compare rates to get the lowest insurance quotes after a speeding ticket.
Auto insurance prices are calculated by many different factors and can change without notice, so the lowest-price company three years ago may now be wasting a lot of money.
The Milwaukee car insurance agencies listed below are a good start to help you determine which insurance coverage you need, since many consumers aren’t sure which coverage to buy and prefer to have a professional recommendation when buying car insurance after a speeding ticket. It’s not always simple to find coverage yourself, and getting advice from a licensed Wisconsin insurance agent can give you peace of mind knowing your coverage gives you adequate protection in the event of a claim.
To locate a Milwaukee auto insurance agent near you, click the button below the list or click here to compare price quotes.
- Allstate Insurance: Andrew J. McCabe
4010 N Oakland Ave – Milwaukee, WI 53211 – (414) 961-1166
- Allstate Insurance: Alex Ferreira
3436 South 13th Street – Milwaukee, WI 53215 – (414) 672-2000
- Farmers Insurance – Roger Channing
4369 S Howell Ave #201 – Milwaukee, WI 53207 – (414) 482-9400
- American Family Insurance – Adam Altis
6015 W Forest Home Ave – Milwaukee, WI 53220 – (414) 321-9944