You have probably watched the catchy commercials from insurers like The General, Allstate, and Nationwide that guarantee dirt cheap rates, so drivers just need to pick the one with the catchiest commercial, right?
Regrettably, it’s not quite that easy, as there are a ton of unknown elements like the amount of physical damage deductibles, the insurance company you are currently insured with, and whether you are female or male, that all have an effect on the price of a policy. The content below covers these factors and others that can influence the price of auto insurance and will hopefully give you some help in finding cheaper rates.
For youthful drivers, one of the more important factors that help determine the amount you pay for auto insurance is the neighborhood you call home in Wisconsin. Areas with increased crime or more people like Milwaukee, West Allis, and Kenosha tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.
The next table displays the priciest cities in Wisconsin for young drivers in which to buy car insurance.
Rank | City | Annual Rate |
---|---|---|
1 | Milwaukee | $1,396 |
2 | Wauwatosa | $1,305 |
3 | West Allis | $1,234 |
4 | Racine | $1,229 |
5 | Kenosha | $1,218 |
6 | Oak Creek | $1,202 |
7 | Greenfield | $1,156 |
8 | Beloit | $1,152 |
9 | Franklin | $1,117 |
10 | Waukesha | $1,065 |
11 | La Crosse | $1,053 |
12 | Eau Claire | $1,049 |
13 | Wausau | $1,047 |
14 | Brookfield | $1,045 |
15 | Menomonee Falls | $1,037 |
16 | Madison | $1,030 |
17 | New Berlin | $1,029 |
18 | West Bend | $1,017 |
19 | Janesville | $1,011 |
20 | Fond du Lac | $985 |
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Information shown are approximated as the specific Wisconsin residence address can alter premiums noticeably.
Performance level and cost of the vehicle needing coverage is one of the largest considerations that determines the availablility of the best cheap insurance for young drivers. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of liability claims will cost significantly less to insure than fast, unsafe models.
The information below illustrates insurance premiums for a number of the cheaper vehicles to buy insurance for.
Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
---|---|---|---|
Chevrolet Malibu Hybrid | $2,876 | $1,438 | $240 |
Ford Fusion Hybrid 4-Dr Sedan | $3,674 | $1,837 | $306 |
Honda Accord EX 4-Dr Sedan | $2,420 | $1,210 | $202 |
Hyundai Elantra Blue 4-Dr Sedan | $3,028 | $1,514 | $252 |
Hyundai Sonata Limited 4-Dr Sedan | $3,298 | $1,649 | $275 |
Kia Optima SX | $3,298 | $1,649 | $275 |
Nissan Altima 2.5 S 4-Dr Sedan | $3,058 | $1,529 | $255 |
Volkswagen Jetta SE 4-Dr Sedan | $3,088 | $1,544 | $257 |
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Cost estimates assume single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in vehicle garaging location which can change prices noticeably.
Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
---|---|---|---|
Acura MDX Advance/Entertainment 4WD | $3,118 | $1,559 | $260 |
BMW X5 M AWD | $3,758 | $1,879 | $313 |
Chevrolet Traverse LS AWD | $2,480 | $1,240 | $207 |
Ford Escape XLT 2WD | $2,420 | $1,210 | $202 |
Ford Explorer Limited 4WD | $2,906 | $1,453 | $242 |
GMC Acadia SLE 2WD | $2,692 | $1,346 | $224 |
Honda CR-V LX 4WD | $2,420 | $1,210 | $202 |
Honda Pilot Touring 4WD | $2,906 | $1,453 | $242 |
Hyundai Tucson GLS 4WD | $2,692 | $1,346 | $224 |
Jeep Grand Cherokee Laredo 4WD | $2,876 | $1,438 | $240 |
Lexus RX 350 4WD | $3,512 | $1,756 | $293 |
Toyota 4Runner Sport 2WD | $2,480 | $1,240 | $207 |
Toyota Highlander SE 4WD | $3,118 | $1,559 | $260 |
Toyota RAV4 Sport 4WD | $2,876 | $1,438 | $240 |
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Premium data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific Wisconsin garaging location which can decrease or increase prices substantially.
Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
---|---|---|---|
Chevrolet Colorado LT 2WD | $2,632 | $1,316 | $219 |
Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD | $3,332 | $1,666 | $278 |
Chevrolet Silverado LS Extended Cab 4WD | $2,876 | $1,438 | $240 |
Dodge Ram 2500 Crew Cab SLT 2WD | $3,482 | $1,741 | $290 |
Dodge Ram 3500 Crew Cab Laramie 4WD | $4,320 | $2,160 | $360 |
Dodge Ram Crew Cab TRX 4WD | $3,328 | $1,664 | $277 |
Ford F-150 FX4 4WD | $2,906 | $1,453 | $242 |
GMC Sierra 2500HD SLE Regular Cab 2WD | $3,298 | $1,649 | $275 |
GMC Sierra SLE Regular Cab 2WD | $2,876 | $1,438 | $240 |
Toyota Tundra SR/5 Crew Max 2WD | $3,086 | $1,543 | $257 |
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Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in garaging location in Wisconsin which can affect insurance rates substantially.
Finding the cheapest auto insurance for young drivers in Wisconsin should be important to the majority of vehicle owners, and a good way to buy cheaper insurance is to buy only liability coverage. The diagram below shows the difference between insurance costs with full coverage and liability only. The price estimates are based on no accidents or driving violations, $250 deductibles, marital status is single, and no discounts are factored in.
If all age groups are averaged, physical damage coverage costs an additional $1,217 per year more than just insuring for liability. That proposes the question if buying full coverage is a good investment. There isn’t a written rule for dropping physical damage insurance, but there is a general convention. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
Ending up with a highly-rated insurance provider can be challenging considering how many companies there are in Wisconsin. The ranking data in the next section could help you decide which car insurance providers you want to consider when shopping car insurance rates for young drivers.
These ratings only include large, nationwide insurance companies, so companies that may only write in Wisconsin are not taken into consideration for these rankings. To compare prices and find cheaper insurance for young drivers, simply click here.
Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
---|---|---|---|---|---|---|
USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
American Family | 88 | 92 | 83 | 88% | A | 89.4 |
Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
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Data Source: Insure.com Best Car Insurance Companies
The list below shows some of the better money-saving ideas that can help Wisconsin drivers find lower-cost coverage.
The last tip is highly necessary, as was emphasized in this write-up. Prices in Wisconsin can be modified anytime, so don’t be unwilling to buy a different policy if a cheaper price is available.
Being loyal to a particular company is commendable, but is isn’t recommended if that stubbornness costs you lots of hard earned cash every month. It only take a few minutes to compare prices to find cheaper insurance for young drivers.
There are many ways to buy car insurance in Wisconsin, but the most preferred ways are through an independent agent, a captive (or exclusive) agent such as Liberty Mutual or State Farm, or direct either online or via phone. All three ways can provide car insurance quotes, but it’s important to understand the differences in how they function.
Independent insurance agencies can place your business with multiple companies and can provide price quotes from every one. They are not employed by only one company and can provide multiple price quotes, which may provide you with a better overall rate comparison. If they find a lower price, they can switch companies in-house which makes it simple for you.
An agent who is captive is restricted to quoting rates for a single insurance company, for example State Farm and Auto-Owners agents. Exclusive agents are unable to place coverage with different providers, so they have no alternatives for high prices.
Direct car insurance buyers bypass an exlusive or independent agent and instead shop from a direct company like Geico or Progressive. This option may be the best choice families who have an average risk profile and have a decent understanding of how car insurance works.
So which of the methods works best to buy the cheapest auto insurance for young drivers in Wisconsin? We wish we could say buying direct yields the cheapest rates since there is no need to pay agent commissions, but in reality, that argument does not hold true. We could also assume that an independent agent results in the best rates because they can quote many companies, but that’s not always true, either. In the right set of circumstances, the exclusive agents have really good rates that independents and direct companies can’t touch.
Due to that fact that car insurance uses so many rating variables, the only real way to not overpay for car insurance is to compare lots of quotes. Smart shoppers will get prices from all three to give yourself plenty of rates to compare. For a list of companies offering online discounts, click here to view.