7 Methods to Save on Car Insurance in Madison
Having to pay for overpriced car insurance can empty your checking account and put a big crunch on your finances. Comparing price quotes is free, only takes a few minutes, and is a good way to help make ends meet.
There is such a variety of to buy insurance from, and even though it's nice to have a selection, so many choices can make it hard to compare rates.
It's important to get comparison quotes on a regular basis since rates are constantly changing. Despite the fact that you may have had the best deal a few years ago the chances are good that you can find a lower rate today. So just ignore everything you know about car insurance because we're going to show you the proper way to save on car insurance.
This information will help educate you on how car insurance quotes work. If you currently have a car insurance policy, you will most likely be able to save some money using this information. Nevertheless, Wisconsin car owners do need to know the way insurance companies compete online and take advantage of how the system works.
Be sure to get all your discounts
The cost of insuring your cars can be expensive, but companies offer discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you quote, but some must be manually applied prior to getting the savings.
- College Student - Kids in college who live away from home and do not have access to a covered vehicle can receive lower rates.
- Sign Online - A few companies will give a small break simply for signing over the internet.
- Bundle and Save - When you combine your home and auto insurance with one company you could get a discount of at least 10% off all policies.
- Multiple Vehicles - Buying insurance for multiple vehicles on the same car insurance policy may reduce the rate for each vehicle.
- Memberships - Belonging to a qualifying organization is a good way to get lower rates on car insurance.
- Own a Home - Owning a house in Madison can help you save on car insurance due to the fact that maintaining a home requires personal responsibility.
- Good Student Discount - A discount for being a good student can earn a discount of 20% or more. The discount lasts well after school through age 25.
It's important to understand that most discount credits are not given to all coverage premiums. Most only apply to individual premiums such as liability, collision or medical payments. So even though they make it sound like all the discounts add up to a free policy, it doesn't quite work that way. Any qualifying discounts will bring down the amount you have to pay.
To see a list of companies who offer car insurance discounts in Wisconsin, click here to view.
Car Insurance Prices in Madison, Wisconsin
There are several ways to compare car insurance quotes, but one way is easier and takes less work. You can waste a lot of time driving to insurance agencies in Madison, or you could save time and use online quotes to quickly compare rates.
Many insurance companies participate in a marketplace that allows shoppers to only type in their quote data once, and each company then gives them pricing for coverage. This saves time by eliminating repetitive form submissions to each individual car insurance company.
To submit your quote information now, click to open in new window.
The only downside to comparing rates this way is you are unable to specify which carriers to receive prices from. So if you want to choose from a list of companies to compare rates, we have a listing of car insurance companies in Wisconsin. Click to view list.
It's up to you which method you use, but ensure you are comparing identical coverage information on every quote you get. If you use unequal deductibles or liability limits it will be impossible to determine which rate is truly the best in Madison. Quoting even small variations in coverage limits could mean much higher rates. Just remember that having more price comparisons helps locate the best offered rates.
Is there truth in advertising?
Car insurance companies such as Progressive, GEICO, Allstate and State Farm continually stream television and radio advertisements. They all seem to make an identical promise of big savings after switching your policy. How does each company make the same claim?
Insurance companies have a preferred profile for the right customer that is profitable for them. An example of a desirable insured could be a mature driver, insures multiple vehicles, and drives less than 7,500 miles a year. Any new insured who meets those qualifications is entitled to the best price and is almost guaranteed to save when switching.
Potential customers who don't measure up to these standards will have to pay a higher premium and ends up with business going elsewhere. Company advertisements say "customers that switch" but not "drivers who get quotes" save that kind of money. This is how insurance companies can confidently advertise the way they do.
Because of the profiling, drivers must get as many quotes as possible. It's just too difficult to predict which insurance companies will provide you with the cheapest rates.
The best insurance company isn't always the cheapest
When shopping online for car insurance, it's very important that you do not reduce coverage to reduce premium. There are many occasions where drivers have reduced liability limits or collision coverage only to find out that a couple dollars of savings turned into a financial nightmare. Your aim should be to buy enough coverage at a price you can afford.
Low-cost car insurance can be bought from both online companies in addition to many Madison insurance agents, and you need to price shop both to have the best rate selection. Some car insurance companies do not provide the ability to get a quote online and most of the time these smaller companies sell through independent agents.
For more Wisconsin car insurance information
Additional car insurance information is available on the website for the Wisconsin Office of the Commissioner of Insurance located here. Consumers can read enforcement actions against agents and companies, get help finding coverage, read consumer alerts, and find out which companies have the most complaints.
