For veterans, one of the more important considerations that aid in calculating auto insurance rates is your address in Milwaukee. Areas with more people or more claims tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates receive better rates.
The illustration below lists the priciest cities in Wisconsin for veterans to purchase auto insurance in. Milwaukee is listed at #1 with the annual price of $1,354 for the average insurance policy, which is approximately $113 per month.
|Rank||City||Premium Per Year|
|Find the Best Rates Go|
Rate quotes are approximated as the specific Milwaukee residence address can lower or raise premium rates greatly.
Figuring out which company has the cheapest insurance rates for veterans will require a tad more effort in order to find the most economical policy. Every insurance provider uses their own method for establishing rates, so to begin we’ll rank the lowest cost insurance companies in Milwaukee, WI.
Best Car Insurance Prices for Vets
|Rank||Company||Cost Per Year|
|7||Rural Mutual Insurance||$756|
|13||West Bend Mutual||$917|
|15||Auto Club Group||$968|
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USAA offers some of the lowest car insurance rates in Milwaukee at around $598 per year. This is $563 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Nationwide, and Pekin Insurance also make the cut as some of the cheaper Milwaukee, WI car insurance companies.
As the example above demonstrates, if you are a customer of Erie and switched to USAA, you could realize a yearly savings of upwards of $126. Policyholders with Nationwide could save as much as $147 a year, and Pekin Insurance customers might cut rates by $154 a year.
Remember that these estimates are averages across all types of insureds and vehicles and and are not calculated with a vehicle location for veterans. So the car insurance company that has the lowest price for you may not even be in the top 30 companies shown above. That affirms the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
The make and model of vehicle that needs insurance is a significant factor when looking for the cheapest car insurance for veterans. Vehicles with more horsepower, a lack of modern safety features, or a history of substantial liability claims will cost substantially more to insure than safer models. The next list outlines auto insurance costs for the cheaper vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda Odyssey LX||$1,831|
|Dodge Grand Caravan CV||$1,866|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,873|
|Ford Explorer XLT 4WD||$1,866|
|Toyota RAV4 Limited 4WD||$1,972|
|Nissan Altima 2.5 4-Dr Sedan||$1,980|
|Chevrolet Malibu LT||$2,010|
|Honda CR-V LX 2WD||$2,045|
|Ford Escape Limited 4WD||$2,071|
|Hyundai Elantra GLS 4-Dr Sedan||$2,074|
|Ford Fusion SE 4-Dr Sedan||$2,112|
|Chevrolet Equinox LTZ AWD||$2,117|
|Nissan Rogue S AWD||$2,115|
|Ford F-350 XL Crew Cab 2WD||$2,150|
|Ford Focus SES 2-Dr Coupe||$2,218|
|Ford F-250 XLT 2WD||$2,256|
|Toyota Camry Hybrid||$2,263|
|Chevrolet Impala LT||$2,259|
|Toyota Camry SE||$2,376|
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rate quotes do not factor in Milwaukee, WI location which can modify auto insurance rates noticeably.
Based on these rates, you can see that vehicles like the Honda Odyssey, Dodge Grand Caravan, Jeep Wrangler, Ford Explorer, and Toyota RAV4 are going to be some of the most affordable vehicles to insure for veterans.
Should you buy full coverage?
Paying a lower price for insurance is important to the majority of people, and one good way to buy cheaper insurance for veterans is to buy only liability coverage. The diagram below shows the comparison of insurance premiums with full physical damage coverage and with liability coverage only. The rate quotes are based on no claims or driving citations, $250 deductibles, marital status is single, and no other discounts are factored in.
If the expense is averaged for all age categories, full coverage on your policy costs $1,217 per year over having just liability coverage. That proposes the question if it’s a good idea to buy full coverage. There isn’t a written rule to stop buying comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is about 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 $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $7,000 after paying your policy deductible. If you are paying more than $700 a year for comprehensive and collision coverage, then it might be time to buy liability only.
Ending up with the top insurance company can be difficult considering how many different companies there are to choose from in Wisconsin. The company ratings shown below can help you select which car insurance companies to look at comparing price quotes from. These rankings are only comprised of companies who write in the majority of U.S. states, so companies with more of a regional focus are not taken into consideration for this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Milwaukee auto insurance
Insurance providers that offer quotes for veterans may also provide policy discounts that can lower rates by as much as 30% if you meet certain criteria. A list of insurance companies and some of their more popular discounts are outlined below.
- Mercury Insurance may have discounts that include professional/association, type of vehicle, multi-policy, multi-car, and good driver.
- Farmers Insurance offers discounts for early shopping, business and professional, teen driver, pay in full, switch companies, and youthful driver.
- Farm Bureau may offer discounts for driver training, good student, multi-vehicle, youthful driver, 55 and retired, and renewal discount.
- State Farm policyholders can earn discounts including safe vehicle, anti-theft, defensive driving training, good student, multiple autos, Steer Clear safe driver discount, and multiple policy.
- Allstate discounts include auto/life discount, early signing, premier plus, passive restraint, and good payer.
- GEICO has discounts for multi-vehicle, seat belt use, federal employee, defensive driver, and daytime running lights.
The example below visualizes the comparison of insurance costs with and without discounts applied to the rates. The premiums are based on a male driver, no accidents, no driving violations, Wisconsin state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, marriage, passive restraint, homeowner, claim-free, and multiple policy discounts applied. When these discounts are applied to the policy premium, the average savings per year on insurance for veterans is 28% or $449.
Why you are probably overpaying for car insurance
Milwaukee insurance rates are impacted by many things that will increase or decrease the price you have to pay for coverage. Turning one year older, increasing liability limits, or having an at-fault accident can produce rate changes resulting in some companies being more affordable than before. Not only may your risk profile change, but companies file new Wisconsin auto insurance rates as needed in order to offset underwriting gains or losses. Higher than usual claims may cause rate hikes, while profitable underwriting may produce lower-priced Milwaukee car insurance rates.
For example, the graph below analyzes the cheapest car insurance in Milwaukee, WI for a 35-year-old male driver with a clean driving record, no accidents, and a good credit history. If we estimate prices based on his personal risk profile, USAA might quote the lowest car insurance rates in Milwaukee at $850 per year. This is $311 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance are also included in the best Milwaukee, WI auto insurance companies.
In this next rate comparison, we will give the driver from above some claims, a lower credit rating, and an imperfect driving record. Since each auto insurer has their own formula for setting prices, analyzing rates could result in a different ranking of the cheapest car insurance companies in Milwaukee as shown below.
Nationwide now has the cheapest insurance rate in Milwaukee, WI with Rural Mutual Insurance, Western National, Travelers, and West Bend Mutual also being competitive. This example proves why consumers need to take the time to spend some time comparing rates to get the most budget-friendly insurance rates for veterans. Auto insurance prices can be determined by many factors and can decrease or increase without notice, so the cheapest option the last time you shopped around may now be an over-priced policy.