What Car Insurance is Cheapest for High School Students in Milwaukee?

Wouldn’t it be nice if you could just magically know the one best company that has the cheapest car insurance rates for high school students? Unfortunately, it’s not that simple as there are many unknown aspects like what coverage limits you need, what level of deductibles you need, and the likelihood of vehicle theft where you live. Car insurance is kind of a dry topic, but this article will explain these types of topics and also should give you a good start in finding the cheapest car insurance in Milwaukee.

Deciphering which company has the cheapest car insurance rates for high school students involves a little more work in order to find coverage that fits your budget. Each insurance company has a unique formula to determine rates, so we will examine the most affordable car insurance companies in Milwaukee.

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Cheapest Wisconsin auto insurance companies
Rank Company Cost Per Year
1 USAA $598
2 Partners Mutual $626
3 Erie $696
4 Rockford Mutual $746
5 Nationwide $752
6 Pekin Insurance $752
7 Rural Mutual Insurance $772
8 Integrity Mutual $786
9 Western National $801
10 Travelers $828
11 West Bend Mutual $890
12 State Farm $896
13 The Hartford $940
14 General Casualty $964
15 Auto Club Group $977
16 American Family $1,125
17 Auto-Owners $1,126
18 Progressive $1,130
19 Farmers $1,165
20 GEICO $1,226
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USAA has some of the lowest car insurance rates in Milwaukee at around $598 per year. This is $563 less than the average rate paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide also rank well as some of the cheapest Milwaukee, WI insurance companies.

As shown in the table above, if you are a policyholder with Nationwide and switched to Partners Mutual, you might achieve an annual premium reduction of in the vicinity of $126. Drivers with Pekin Insurance might save as much as $126 a year, and Rural Mutual Insurance insureds might reduce rates by $146 a year.

Remember that these prices are averaged across all types of insureds and vehicles and and are not calculated with a vehicle location for high school students. So the car insurance company that fits you best may not even be in the list above. That emphasizes why you need to get rate quotes using your own specific driver information and vehicle.

For teenagers, one of the largest considerations that determine insurance cost is where your residence is in Milwaukee. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas with less crime or weather claims benefit from lower rates.

The information below shows the most expensive cities in Wisconsin for high school students to buy auto insurance in. Milwaukee is ranked at #1 costing $1,354 for the average policy, which is around $113 monthly.

How much is car insurance in Milwaukee?
Rank City Average Per Year
1 Milwaukee $1,354
2 Wauwatosa $1,305
3 West Allis $1,234
4 Kenosha $1,218
5 Oak Creek $1,202
6 Greenfield $1,192
7 Racine $1,181
8 Beloit $1,118
9 Franklin $1,117
10 Madison $1,072
11 Eau Claire $1,059
12 Waukesha $1,054
13 La Crosse $1,053
14 Janesville $1,042
15 Wausau $1,037
16 Menomonee Falls $1,037
17 Brookfield $1,035
18 New Berlin $1,018
19 West Bend $1,007
20 Fond du Lac $995
21 Oshkosh $980
22 Appleton $964
23 Green Bay $960
24 Manitowoc $957
25 Sheboygan $935
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Premium amounts are approximated as vehicle location can raise or lower insurance rates substantially.

Irresponsible driving raises your rates

A great way to earn the most affordable car insurance rates in Wisconsin for teenagers is to be a cautious driver and not have accidents or get tickets. The chart below illustrates how traffic citations and accident claims can drive up annual premium costs for different age groups. The rate quotes are based on a married female driver, full coverage, $100 deductibles, and no discounts are applied.

The data above shows the average cost of an auto insurance policy in Wisconsin per year with a clean driving record and no accidents is $1,027. Factor in two speeding tickets and the average cost rises to $1,456, an increase of $429 each year. Now throw in one accident along with the two speeding tickets and the yearly cost of car insurance for high school students goes up to an average of $1,888. That’s an increase of $862, or $72 per month, just for not being a responsible driver!

Cost comparison with and without full coverage

Finding the cheapest car insurance is probably important to most people, and one easy way to save on the cost of insurance for high school students is to not buy full coverage. The illustration below shows the difference between premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no policy discounts are applied.

If the expense is averaged for all age categories, full coverage costs an extra $1,313 per year over having just liability coverage. That touches on the question when is it safe to stop buying full coverage. There isn’t a steadfast formula to eliminate full coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.

For example, let’s assume your vehicle’s book value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $9,000 after you pay the deductible. If premium cost is more than $900 a year for your policy with full coverage, then you might consider buying liability only.

There are some cases where buying only liability insurance is not financially feasible. If you still owe a portion of the original loan, you have to carry full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should maintain full coverage.

Last year’s bargain might be this year’s rip off

Milwaukee, WI car insurance rates are based on many factors that can increase the price you pay. Simply having a birthday, buying another vehicle, or getting a few speeding tickets may prompt premium changes resulting in some rates now being more affordable than others. In addition, car insurance companies change the rates they charge in Wisconsin every year to adjust for heavy claims or excess profits. An extended period of higher than normal claims can result in high rates, while a lower level of claims can produce cheaper Milwaukee car insurance rates.

The bar chart below shows a variety of companies that have the cheapest car insurance in Milwaukee, WI for a 30-year-old female driver with a clear driving record, no claims, and a good credit rating. Based on her current rating profile, USAA quotes the lowest car insurance rates in Milwaukee at $865 each year. This is $296 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance round out the rest of the cheapest Milwaukee, WI auto insurance companies.

Now we will give the driver from the first rate comparison a claim surcharge, a little lower credit rating, and a blemish on her driving record. Since each company has a different process for filing rates in each state, analyzing rate quotes will most likely result in a substantially altered list of the cheapest companies as shown below.

Pekin Insurance now has the best price in Milwaukee, WI with Integrity Mutual, Western National, Travelers, and West Bend Mutual also having competitive pricing. This example shows why it is crucial to compare as many rates as possible when trying to get the best auto insurance quotes for high school students.

Auto insurance prices are calculated by many factors and can decrease or increase without notice, so the best company the last time you shopped your coverage around may now be priced much higher than other options.