The words "low-priced" and "auto insurance" probably shouldn't be used in the same sentence, especially when you are trying to find the cheapest coverage for drivers under 25. Let's lead off by showing you some of the things that significantly impact insurance prices, and see how we can help you reduce the price of your next policy.
Figuring out which insurers offer the cheapest car insurance rates for drivers under 25 involves more time in order to find the best price.
Each insurer has a unique formula for setting rates, so we'll go over the car insurance companies with the most affordable rates in Milwaukee.
Best Auto Insurance Prices for Young Drivers
|Rank||Company||Cost Per Year|
|5||Rural Mutual Insurance||$756|
|11||West Bend Mutual||$917|
|14||Auto Club Group||$939|
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USAA normally has some of the lowest car insurance rates in Milwaukee at around $604 each year. This is $557 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance are also some of the best Milwaukee, WI car insurance companies.
In the rate table above, if you are a customer of Partners Mutual and switched to USAA, you might achieve annual savings of about $10. Drivers with Erie could save as much as $120 a year, and Rockford Mutual customers might lower prices by $150 a year.
Be aware that those policy prices are averaged across all types of drivers and the different vehicles they drive and do not take into consideration an exact zip code location for drivers under 25. So the insurer that fits your needs best may not even be in the top 30 companies in the list above. That's why you need to compare as many prices as possible using your own driver data and vehicle information.
The make and model of vehicle requiring coverage is probably the most important factor when shopping for the best insurance for drivers under 25. Vehicles with higher performance characteristics, a lack of safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer, lower-performance models. The data below showcases car insurance costs for a number of the most affordable vehicles to insure in Wisconsin.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$3,822|
|Ford Escape XLT 4WD||$3,828|
|Dodge Grand Caravan SE||$4,222|
|Honda Odyssey EX||$4,406|
|Ford Focus SE 4-Dr Sedan||$4,414|
|Toyota RAV4 Limited 2WD||$4,462|
|Toyota Camry LE||$4,470|
|Chevrolet Malibu Hybrid||$4,462|
|Ford F-150 Lariat Super Cab 2WD||$4,516|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$4,523|
|Ford Explorer Limited AWD||$4,516|
|Toyota Tacoma Double Cab 4WD||$4,526|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$4,646|
|Honda Civic LX 4-Dr Sedan||$4,656|
|Chevrolet Impala LTZ||$4,703|
|Ford Edge Sport 2WD||$4,713|
|Hyundai Elantra GLS 4-Dr Sedan||$4,703|
|Toyota Corolla XRS||$4,756|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$4,766|
|Jeep Grand Cherokee Limited 4WD||$4,756|
|GMC Sierra SLT Crew Cab 2WD||$4,766|
|Nissan Altima 3.5 SR 4-Dr Sedan||$4,756|
|Get a Custom Quote Go|
Data assumes single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific location which can increase or decrease insurance rates considerably.
Based upon the table data, you can see that makes and models like the Honda CR-V, Ford Escape, Toyota Prius, Dodge Grand Caravan, and Honda Odyssey will be a few of the more affordable vehicles to insure for drivers age 25 and younger. The price for an auto insurance policy will tend to be higher just due to the fact that there is more claim risk for drivers under 25, but generally speaking those particular models will probably have the lowest prices compared to other types of vehicles.
For drivers age 25 and younger, one of the more important things that help determine insurance cost is where you keep your car. Cities with larger populations or higher claim trends tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims have the luxury of cheap car insurance rates.
The next table rates the highest-priced places in Wisconsin for drivers under 25 in which to buy car insurance. Milwaukee makes the list at #1 with an annual rate of $1,410 for coverage, which is around $118 each month.
|Rank||City||Average Per Year|
|Find the Best Rates Go|
Price information shown is approximated as the specific Milwaukee residence address can increase or decrease price quotes significantly.
Discounts on Milwaukee car insurance
Insurers that provide policies for drivers under 25 may also give you price discounts that could lower prices by as much as 35% if you meet certain criteria. Large car insurance companies and a summarized list of policyholder discounts are outlined below.
- Progressive offers discounts including online signing, continuous coverage, good student, multi-vehicle, homeowner, online quote discount, and multi-policy.
- AAA offers discounts for multi-policy, good driver, multi-car, good student, pay-in-full, and education and occupation.
- Farmers Insurance offers premium reductions for switch companies, youthful driver, teen driver, pay in full, distant student, and good student.
- GEICO includes discounts for daytime running lights, multi-vehicle, emergency military deployment, driver training, anti-lock brakes, and federal employee.
- Esurance may offer discounts for homeowner, good driver, online quote, anti-theft, and Switch & Save.
- SAFECO discounts include homeowner, safe driver, bundle discounts, accident prevention training, teen safe driver, anti-theft, and drive less.
- State Farm may have discounts that include good student, passive restraint, driver's education, good driver, anti-theft, and multiple autos.
The example below illustrates the difference between car insurance costs with and without discounts applied to the premium. Data assumes a male driver, no tickets, no at-fault accidents, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with paid-in-full, continuous coverage, passive restraint, paperless filing, vehicle safety, and anti-theft discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on car insurance for drivers under 25 is 18% or $245.
The chart below highlights how deductible choice can raise or lower annual premium costs when trying to find cheap insurance for drivers under 25. The rates are based on a married male driver, full coverage, and no discounts are applied to the premium.
The chart above illustrates that a 50-year-old driver could pocket $218 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $326 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old category, could drop their prices up to $728 or more just by choosing larger deductibles. If you make the decision to raise deductibles, it's a good idea to have emergency funds available to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Full coverage or liability only
Reducing the cost of car insurance should be important to the majority of vehicle owners, and an effective way to lower the cost of insurance for drivers under 25 is to not insure for full coverage. The diagram below illustrates the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no claims or driving violations, $100 deductibles, drivers are not married, and no discounts are applied to the premium.
Averaged for all age groups, physical damage coverage costs an extra $1,773 per year more than just buying liability insurance. At some point, every insured wonders if paying for full coverage is worth it. There isn't a written rule 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 more than 10% of the replacement cost of your vehicle minus the policy deductible, then it's probably a good time to buy liability coverage only.
There are some scenarios where removing full coverage is not recommended. If you haven't paid off your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage.
You are probably paying too much for car insurance
Milwaukee, WI car insurance rates are calculated based on many things which can substantially decrease or increase the policy price. Simply having a birthday, moving to a new city, or having an accident can trigger price changes that can make some companies more affordable than competitors.
Not only may things change on your end, but insurers modify rates every year to ensure their profitability. A period of increased losses can cause additional price hikes, while profitable underwriting may cause lower-priced Milwaukee car insurance rates.
To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Milwaukee, WI for a 45-year-old female driver with a clean driving record, no accidents, and a high credit rating. If we compare prices based on her personal profile, USAA might offer the most affordable car insurance rates in Milwaukee at $896 annually. This is $265 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance are the remaining best Milwaukee, WI auto insurance companies.
The example below compares rates after we give the driver from the above example an at-fault accident, a lower credit rating, and a blemish on her driving record. Due to the fact that each insurance company has a proprietary method to set premium rates, comparing insurance quotes may now present a slightly different list of the cheapest car insurance companies in Milwaukee as shown below.
Integrity Mutual now has the lowest price in Milwaukee with Nationwide, Western National, Travelers, and State Farm now being in the top five. This example shows why it is important to perform an extensive rate comparison to find the most budget-friendly auto insurance rates for drivers under 25. Car insurance prices are calculated by many things and can change substantially, so the best price when you bought your policy may now be priced much higher than other options.
The Milwaukee car insurance agencies listed below can most likely help you determine which car insurance policy is best, as lots of people like to have a professional recommendation when comparing insurance rates for drivers age 25 and younger. It's not always easy to find the best rates on your own, and insurance agents can add comfort knowing you have adequate protection in case of an accident or claim.
To locate a Milwaukee insurance agent close to where you live, click the button following the list or click here to compare price quotes.
- American Family Insurance - Sherry Watson
930 E Knapp St Ste 1 - Milwaukee, WI 53202 - (414) 277-7772
- State Farm Insurance
2121 S Kinnickinnic Ave #7 - Milwaukee, WI 53207 - (414) 483-3300
- American Family Insurance - James W Eve Agency LLC
6917 W Oklahoma Ave - Milwaukee, WI 53219 - (414) 546-2100
- Procter Insurance Agency
2315 10th Ave - South Milwaukee, WI 53172 - (414) 762-8900