The words “cheap” and “insurance” really shouldn’t be used in the same sentence, especially when trying to find the best price on coverage for infrequent drivers. To save some money, let’s learn about a few of the factors that have an impact on auto insurance prices, and find out if you can reduce the price of the next policy you buy.
The make and model of vehicle to be insured is one of the main factors when trying to find cheap insurance for infrequent drivers. Vehicles with more horsepower, a lack of safety features, or a track record of large liability claims will cost significantly more to insure than safer, lower-performance models. The information below ranks insurance rates for the most cost-effective vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,897|
|Ford Escape XLS 2WD||$1,978|
|Volkswagen Jetta LE 4-Dr Sedan||$2,043|
|Toyota RAV4 Sport 4WD||$2,051|
|Honda CR-V EX 2WD||$2,118|
|Honda Accord EX-L 4-Dr Sedan||$2,142|
|Hyundai Elantra SE Touring Station Wagon||$2,149|
|Hyundai Sonata GLS 4-Dr Sedan||$2,189|
|Toyota Corolla XRS||$2,195|
|Nissan Rogue SL AWD||$2,297|
|Nissan Altima 2.5 S 2-Dr Coupe||$2,336|
|Kia Optima SX||$2,346|
|Chevrolet Equinox LS AWD||$2,342|
|Chevrolet Malibu Hybrid||$2,348|
|Dodge Grand Caravan SE||$2,371|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$2,386|
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can affect coverage prices considerably.
Based upon these rates, you can presume that vehicles like the Jeep Wrangler, Toyota Prius, Ford Escape, Volkswagen Jetta, and Toyota RAV4 are likely to be some of the cheaper vehicles to insure for low mileage drivers.
For low mileage drivers, one of the more important criteria that are looked at to help calculate the amount you pay for auto insurance is where you live in Milwaukee. Areas with increased crime or more people tend to have higher rates, whereas areas that tend to be more rural get the luxury of paying less.
The next table rates the most expensive places in Wisconsin for infrequent drivers in which to purchase auto insurance. Milwaukee shows up at #1 with a yearly premium of $1,396 for the average policy, which is approximately $116 each month.
|23||Fond du Lac||$956|
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Rates are estimated as the specific Milwaukee residence address can decrease or increase coverage prices significantly.
Comparison of full coverage and liability-only policies
Buying cheaper insurance is important to most people, and one way to save on the cost of insurance for infrequent drivers is to not insure for full coverage. The information below shows the difference between yearly insurance 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, $100 deductibles, single status, and no policy discounts are applied.
As an overall average, comp and collision coverage costs $1,804 per year more than just insuring for liability. That proposes the question if buying full coverage is a waste of money. There is no clear-cut rule to drop 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 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 only buying liability is not recommended. If you haven’t paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
How to find a good Milwaukee insurance company
Insuring your vehicle with a highly-rated company can be rather challenging considering how many companies there are to choose from in Milwaukee. The information listed below could help you select which auto insurance companies you want to consider comparing rate quotes with. These ratings are for large insurance companies, so companies that may only write in Wisconsin are not included in these rankings.
Top 10 Large Auto Insurance Companies in Milwaukee Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
Top 10 Large Auto Insurance Companies in Milwaukee Ranked by Value
- AAA Insurance
- Erie Insurance
- Liberty Mutual
- State Farm
- Safeco Insurance
- 21st Century
How to find budget-friendly auto insurance for infrequent drivers
Below you’ll find many penny-pinching suggestions that can help you get more affordable auto insurance.
- Drivers with good credit ratings often pay less
- On older vehicles, drop full coverage
- Buying home and auto insurance together can earn discounts
- Try paying for small claims out-of-pocket
- Buy safe vehicles
- Increase your policy deductibles
- Comparison shop at least once a year
The final tip is especially valuable, as was noted in this write-up. Prices charged by auto insurers in Milwaukee fluctuate constantly, so drivers shouldn’t hesitate to change insurance companies if a more affordable price is available. Having brand loyalty is commendable, but it’s not a good idea if that devotion results in you overpaying money that could be going to better use. If you have a few minutes, now is a great time to compare prices and find cheaper auto insurance for infrequent drivers.
The professional agents shown below are a good start to help you decide which policy is best, since many people would rather have the advice of a professional agent when comparing insurance rates for low mileage drivers. It can be challenging to find coverage yourself, and getting advice from a licensed Wisconsin insurance agent can add satisfaction knowing your policy gives you sufficient protection if you have a claim. To locate a Milwaukee car insurance agency nearest to you, click the button at the bottom of the list or click here to compare prices now.
- Tilley Insurance
12344 W Layton Ave – Milwaukee, WI 53228 – (414) 235-3561
- See Insurance Agency LLC
7817 W Brown Deer Rd – Milwaukee, WI 53223 – (414) 355-5433
- B and J Insurance Agency, Inc.
4234 N 76th St – Milwaukee, WI 53222 – (414) 461-4120
- Frank Marchan Insurance Agency, LLC
3931 S Howell Ave – Milwaukee, WI 53207 – (414) 755-4999
- Mark Bojarski – State Farm Insurance Agent
4724 W Forest Home Ave – Milwaukee, WI 53219 – (414) 545-6820