Finding dependable, low-priced car insurance is not easy, and determining which companies offer the lowest-priced car insurance rates for good drivers will involve more quotes for comparison. Every auto insurer has their own formula for setting prices, so we need to take a look at the car insurance companies that tend to have lower prices in Wisconsin.
It’s a good idea to know that Wisconsin car insurance rates are calculated based on many things which can substantially decrease or increase the cost of a policy. Things like getting older, buying a higher-value vehicle, or getting a DUI may prompt premium changes that can now make some companies much cheaper than others.
Lowest Insurance Price Quotes for Good Drivers
|Rank||Company||Cost Per Year|
|7||Rural Mutual Insurance||$772|
|11||West Bend Mutual||$890|
|14||Auto Club Group||$939|
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USAA quotes some of the most affordable car insurance rates in Milwaukee at around $586 a year. Partners Mutual, Erie, Nationwide, and Rockford Mutual also qualify as some of the cheaper Milwaukee, WI auto insurance companies.
In the above rates, if you are a customer of Erie and switched to USAA, you may realize yearly savings of roughly $138. Drivers with Nationwide might save as much as $159 a year, and Rockford Mutual customers might reduce prices by as much as $168 a year.
Understand that those premium estimates are averages across all drivers and vehicles in Wisconsin and and are not calculated with a specific location for good drivers. So the auto insurance company that has the cheapest rates for you may not even be in the top 30 companies shown above. That affirms the importance of why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
The car, truck, or SUV requiring insurance is a significant factor when comparison shopping for affordable coverage for good drivers. Vehicles with high performance engines, a lack of safety features, or a history of substantial liability claims will cost quite a bit more to insure than safer models.
The next table outlines auto insurance costs for a handful of the most affordable automobiles to insure in Wisconsin.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,802|
|Ford Escape XLS 2WD||$1,810|
|Toyota Tacoma 4WD||$2,024|
|Hyundai Elantra GLS Touring Station Wagon||$2,067|
|Honda Accord LX 4-Dr Sedan||$2,077|
|Toyota RAV4 4WD||$2,134|
|Chevrolet Malibu LS||$2,141|
|Chevrolet Impala LT||$2,134|
|Ford F-350 XL Super Cab 2WD||$2,216|
|Toyota Corolla XRS||$2,286|
|GMC Sierra SL Crew Cab 4WD||$2,286|
|Nissan Rogue SL AWD||$2,399|
|Ford Edge SEL AWD||$2,402|
|Dodge Grand Caravan SE||$2,479|
|Dodge Ram 2500 Crew Cab SLT 4WD||$2,482|
|Dodge Ram Crew Cab Laramie 2WD||$2,491|
|Ford F-150 FX4 Super Cab 4WD||$2,494|
|Nissan Altima 3.5 SR 2-Dr Coupe||$2,549|
|Honda Odyssey EX-L||$2,576|
|Chevrolet Equinox LTZ AWD||$2,622|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$2,628|
|Ford Explorer Limited 4WD||$2,671|
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Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Prices do not factor in your specific Milwaukee, WI location which can influence coverage rates substantially.
Based on these rates, we can tell that models like the Honda CR-V, Ford Escape, Toyota Tacoma, and Hyundai Elantra are most likely to be the most affordable vehicles to insure for safe drivers.
For safe drivers, one of the more important components that determine the cost of insurance is where you normally keep your vehicle. Cities with larger populations tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims profit from lower rates.
The information below lists the most expensive areas in Wisconsin for good drivers to purchase car insurance in. Milwaukee is ranked #1 with the yearly price of $1,396 for coverage, which is approximately $116 each month.
|Rank||City||Premium Per Year|
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Table data uses approximated as zip code location can increase or decrease premiums significantly.
The illustration below shows how choosing a deductible can influence insurance rates when researching cheap insurance for good drivers. The data assumes a married female driver, full physical damage coverage, and no discounts are applied.
A 30-year-old driver could lower rates by $246 a year by increasing from a $100 deductible to a $500 deductible, or save $370 by selecting a $1,000 deductible. Even younger insureds, such as the 20-year-old example, can cut $524 each year by using higher deductibles when buying full coverage.
When choosing a higher deductible, it is necessary to have additional funds in a savings account to allow you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
How much more does full coverage cost?
Paying less for car insurance is important to most people, and one way to pay less for insurance for good drivers is to not pay for full coverage. The information below illustrates the comparison of yearly insurance costs with and without physical damage coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, single status, and no discounts are applied to the premium.
If averaged out across all ages, full coverage costs an additional $1,092 per year more than buying just liability insurance. At some point, almost every driver questions if buying full coverage is a good investment. There is no specific rule for excluding physical damage insurance, but there is a general convention. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
There are some scenarios where buying only liability insurance is not advised. If you still owe money on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Get discount Milwaukee car insurance
Insurers that offer cheap quotes for good drivers may additionally offer discounts that can lower rates by as much as 35% if you qualify for them. A list of car insurance companies and a partial list of their discounts are detailed below.
- GEICO policyholders can earn discounts including daytime running lights, defensive driver, seat belt use, anti-lock brakes, air bags, and military active duty.
- MetLife discounts include defensive driver, accident-free, multi-policy, claim-free, good driver, and good student.
- Progressive includes discounts for continuous coverage, homeowner, multi-policy, online signing, and good student.
- Travelers offers discounts including multi-policy, student away at school, early quote, good student, and driver training.
- SAFECO offers premium reductions for teen safety rewards, anti-theft, homeowner, teen safe driver, safe driver, and anti-lock brakes.
- AAA has discounts for education and occupation, multi-car, pay-in-full, multi-policy, anti-theft, and good student.
The example below visualizes the comparison of car insurance costs with and without some available policy discounts. The premiums assume a female driver, a clean driving record, no claims, Wisconsin state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with defensive driving course, claim-free, anti-theft, accident-free, safe-driver, and multiple vehicle discounts applied. When discounts are factored in, theamount saved on car insurance for good drivers is 28% or $277.
Comparing rates can save you money
Wisconsin car insurance rates are influenced by many factors that may substantially change your annual premium. Getting older, getting married, or getting a driving violation can cause premium changes that can make some companies more affordable than before. Also, car insurance companies change the rates they charge in Wisconsin as often as every three months in order to maintain liquidity for claims. Significantly higher losses may cause more expensive premiums, while a profitable period can result in cheaper Milwaukee car insurance rates.
To help illustrate this point, the chart below shows the company with the cheapest car insurance in Milwaukee, WI for a 30-year-old male driver with no prior claims, no tickets, and a good credit rating. If we estimate rates based on his current risk factors, USAA may offer the best car insurance rates in Milwaukee at $893 annually. This is $268 less than the average rate paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance also make the list of the most affordable Milwaukee, WI auto insurance companies.
Let’s now give the driver from the first set of rates a claim, a lower credit rating, and a few blemishes on his driving record. Since each company has a different process to set premium rates, getting updated rate quotes most likely will result in a completely different list of the cheapest companies as shown below.
Nationwide now has the best insurance rate in Milwaukee, WI with Integrity Mutual, Travelers, Western National, and West Bend Mutual now rounding out the top five. This illustrates why consumers need to take the time to compare lots of rates when trying to find the most affordable auto insurance rates for good drivers. Insurance prices are impacted by many different factors and change substantially, so the best company the last time you shopped around may now be quite expensive.