Wish you could get out of high-priced Honda Odyssey insurance in Milwaukee? Trust us, you’re not alone.
Statistics show that almost 70% of drivers have remained with the same auto insurance company for at least the last four years, and nearly the majority have never even compared quotes to find cheap rates. With the average auto insurance premium being $1,340, Wisconsin drivers could save nearly $400 each year, but they don’t believe the big savings they would realize if they bought a different policy. There are many car insurance companies to pick from, and although it’s a good thing to have a selection, so many choices can make it hard to compare rates and find the lowest cost auto insurance.
It is always a good idea to get comparison quotes yearly since prices trend upward over time. Just because you had the lowest rates on Honda Odyssey insurance in Milwaukee six months ago you will most likely find a better premium rate today. You can find a lot of misleading information regarding Odyssey insurance on the internet, but we’re going to give you some good information on how to stop overpaying for insurance in Milwaukee.
Best companies for affordable Honda Odyssey insurance in Wisconsin
The companies shown below offer price quotes in Wisconsin. If more than one company is shown, we recommend you click on several of them in order to find the cheapest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Odyssey EX W/Rear Entertainment||$82||$184||$242||$14||$72||$594||$50|
|Odyssey EX-L W/Rear Entertainment||$132||$262||$236||$14||$70||$714||$60|
|Odyssey EX-L W/Navigation||$132||$262||$236||$14||$70||$714||$60|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rate quotes do not factor in specific location information which can increase or decrease prices substantially.
Honda Odyssey full coverage rates compared to liability only
The example below illustrates the comparison of Honda Odyssey auto insurance rates when comparing full coverage to liability only. The information is based on no accidents, no driving violations, $100 deductibles, single female driver, and no additional discounts are factored in.
Guidelines for dropping full coverage
There is no definitive guideline of when to drop full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s assume your Honda Odyssey replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after paying the physical damage deductible. If premiums are more than $600 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few cases where only buying liability is not advised. If you haven’t satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Physical damage deductibles: Should you raise them?
The illustration below shows how choosing a deductible and can affect Honda Odyssey insurance prices for different insured age categories. The costs are based on a married male driver, full coverage, and no discounts are applied.
Six Tips to Get Cheaper Milwaukee Insurance Costs
An important part of buying insurance is that you know some of the things that help determine your premiums. When consumers understand what determines premiums, this enables you to make decisions that could help you find lower premium levels.
The following are some of the things utilized by car insurance companies to help set rates.
Low mileage costs less – The more miles you rack up on your Honda every year the more it will cost to insure it. A lot of insurance companies calculate prices partially by how you use the vehicle. Autos that do not get driven very much get more affordable rates than those used for commuting. Ask your agent if your insurance policy reflects the correct driver usage. Having an incorrect usage rating on your Odyssey is throwing money out the window.
Pay more for higher performance vehicles – The performance level of the vehicle you need to insure makes a big difference in determining your rates. Due to the fact that the Honda Odyssey is a van and minivan, insurance will be similar in price when compared to the average rates in Milwaukee. Small economy passenger cars generally receive the lowest base rates, but your final cost has many other factors.
Your liability coverage limits – The liability section of your policy will afford coverage if ever a jury decides you are liable for causing personal injury or damage in an accident. Your liability coverage provides legal defense which can cost a lot. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should make sure they buy enough to cover all assets.
Only buy coverage you need – Insurance policies have a lot of add-on coverages you can purchase when buying insurance. Things like coverage for rental cars, towing, and term life insurance may be costing you every month. The coverages may be enticing when discussing your needs, but your needs may have changed so remove them and pocket the money.
Cheaper rates after marriage – Having a spouse can get you a discount on insurance. It means you’re more mature and responsible and it’s statistically proven that married drivers get in fewer accidents.
High deductibles equal low rates – Your deductibles are how much you are willing to pay out-of-pocket before a claim is paid by your company. Coverage for physical damage, also called comprehensive and collision insurance, protects your car from damage. Some examples of covered claims are a windshield broken by a bird, damage caused by hail, and damage caused by road hazards. The more expense you have to pay, the bigger discount you will receive.
Insurance loss probability for a Honda Odyssey – Insurers use data from past claims to help determine prices. Vehicles that the data determines to have higher claim frequency or loss amount will have increased rates.
The table below illustrates the historical insurance loss data for Honda Odyssey vehicles. For each coverage category, the claim probability for all vehicles averaged together is a value of 100. Numbers shown that are under 100 represent a good loss history, while numbers that are greater than 100 show a trend for more claims or a tendency for claims to be larger.
Car Insurance Loss Data for Honda Odyssey Models
|Specific Honda Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Milwaukee insurance discounts
Insurance is expensive, but there could be available discounts that may help make it more affordable. Some of these discounts will be visible when you get a quote, but some may not be applied and must be asked about prior to getting the savings.
- Passive Restraints – Vehicles equipped with air bags or motorized seat belts can qualify for discounts of up to 25% or more.
- Organization Discounts – Belonging to specific professional or occupational memberships or organizations is a good way to get lower rates on your bill.
- Discount for Life Insurance – Not all insurance companies offer life insurance, but some may give you a small discount if you purchase some life insurance in addition to your auto policy.
- E-sign – Certain larger companies give back up to $50 for completing your application on their website.
- Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices help deter theft and can earn a small discount on your policy.
- Defensive Driver Discounts – Completing a class that teaches driver safety techniques could cut 5% off your bill if you qualify.
- Low Miles Discount – Maintaining low annual mileage may allow you to get better premium rates on cars that stay parked.
One last thing about discounts, most credits do not apply to the overall cost of the policy. Most only reduce specific coverage prices like comp or med pay. So even though you would think adding up those discounts means a free policy, insurance companies wouldn’t stay in business. Any qualifying discounts should definitely cut your policy cost.
Insurance companies that may offer quotes with most of the discounts above may include but are not limited to:
If you want the cheapest Honda Odyssey rate quotes, ask each company which discounts they offer. Some discounts listed above might not be offered on policies everywhere. To view insurers who offer free Honda Odyssey insurance quotes in Wisconsin, click here to view.
Auto insurance agents near you
Many people prefer to get professional advice from a licensed agent and that is a smart decision Good insurance agents can help you choose the best coverages and help file insurance claims. The biggest benefit of comparing rates online is the fact that drivers can get cheaper rates and also buy local. Supporting small agencies is important particularly in Milwaukee.
Upon completion of this quick form, your insurance coverage information is submitted to participating agents in Milwaukee who will return price quotes for your business. It makes it easy because there is no need to do any legwork since price quotes are sent immediately to your email address. If you have a need to compare prices from one company in particular, feel free to find their quoting web page and submit a quote form there.
Not all car insurance agents are the same
If you are wanting to find a good insurance agency, you need to know there are two different agency structures and how they are distinctly different. Car insurance agencies can be described as either exclusive or independent (non-exclusive). Either can properly insure your vehicles, but it’s a good idea to understand the differences since it can affect your selection of an agent.
Independent Insurance Agents
Agents of this type are normally appointed by many insurers so as a result can place your coverage amongst many companies and find the cheapest car insurance rates. If they quote lower rates, the business is moved internally and you won’t have to switch agencies. When comparing rate quotes, we highly recommend that you get quotes from several independent insurance agents to have the most options to choose from.
Featured below is a short list of independent insurance agents in Milwaukee that can possibly get you comparison quotes.
Exclusive Car Insurance Agencies
Exclusive agents normally can only provide a single company’s rates and some examples include Allstate and State Farm. They usually cannot place coverage with different providers so they have no alternatives for high prices. Exclusive agents are very knowledgeable on the products they sell which helps overcome the inability to quote other rates.
Shown below is a short list of exclusive insurance agencies in Milwaukee that are able to give comparison quotes.
Finding the right insurance agency should include more criteria than just a cheap quote. Before buying a policy in Milwaukee, get answers to these questions.
- How are claims handled?
- Where are claims handled?
- Is the agent properly licensed in Wisconsin?
- Can you contact them at any time?
- Are all drivers listed on the coverage quote?
- In the event of vehicle damage, can you pick the collision repair facility?
- Do they carry Errors and Omissions coverage?
- How much can you save by raising your physical damage deductibles?
Ads can be misleading
Consumers can’t get away from ads for the lowest price auto insurance by 21st Century, Allstate and State Farm. They all seem to seem to make the promise about savings if you move to them.
How does every auto insurance company charge less that you’re paying now? This is the way they can do it.
Insurance providers offer their best rates for the right customer that earns them a profit. An example of a preferred risk might have to be a female over age 40, carries full coverage, and drives less than 7,500 miles a year. Any customer who matches those parameters will get low prices and therefore will save when switching.
Consumers who don’t meet the “perfect” profile will have to pay higher rates with the end result being the customer buying from a different company. The ads say “customers that switch” not “everyone who quotes” can get the lowest rates when switching. This is how insurance companies can state the savings.
That is why it’s extremely important to quote coverage with many companies. It’s impossible to know with any certainty which company will have the lowest rate quotes.
When to get professional advice
When it comes to choosing insurance from an agent or online, there is no one size fits all plan. Every situation is different so this has to be addressed.
Here are some questions about coverages that might point out whether you will benefit from professional help.
- Do I need more liability coverage?
- Does coverage extend to Mexico or Canada?
- Is water damage covered by my policy?
- Is my Honda Odyssey covered if I use it for business?
- Is my son or daughter covered when driving my car?
- Why am I required to buy high-risk coverage?
- Is coverage enough to protect my assets?
- Will I be non-renewed for getting a DUI or other conviction?
- Am I covered while delivering pizza?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can help protect your family.
Don’t give up on cheap premiums
The cheapest Honda Odyssey insurance in Milwaukee is possible online in addition to many Milwaukee insurance agents, and you need to comparison shop both to have the best selection. Some insurance providers may not offer rates over the internet and these small, regional companies prefer to sell through independent agents.
Throughout this article, we presented some good ideas how you can lower your Honda Odyssey insurance prices in Milwaukee. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding inexpensive Milwaukee car insurance quotes. You may even discover the best price on insurance is with some of the lesser-known companies. These smaller insurers may have significantly lower rates on certain market segments than the large multi-state companies such as Progressive and GEICO.
Helpful learning opportunities
- Liability Insurance Coverage (Nationwide)
- Who Has Cheap Auto Insurance for a GMC Sierra in Milwaukee? (FAQ)
- Who Has the Cheapest Milwaukee Car Insurance for Drivers Requiring a SR22? (FAQ)
- How Much is Car Insurance for Real Estate Agents in Milwaukee? (FAQ)
- What Insurance is Cheapest for a Hyundai Elantra in Milwaukee? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Rental Car Insurance Tips (Insurance Information Institute)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)