How Much is Auto Insurance for Drivers Under 25 in Wisconsin?

The words “affordable” and “auto insurance” probably shouldn’t be used in the same sentence, in particular when shopping around for the lowest insurance rates for drivers under 25. In an attempt to save some money, let’s go over some of the factors that determine auto insurance prices, and see if you can reduce the cost of your next policy.

When shopping for cheaper insurance for drivers age 25 and younger, one of the many criteria that insurance companies use when figuring the price of your policy is where your home is located in Wisconsin. Areas with high crime rates or more dense population like Milwaukee, West Allis, and Kenosha are more likely to pay higher prices, whereas areas with less traffic congestion and claims generally pay lower insurance rates.

The information below sorts the most costly cities in Wisconsin for drivers under 25 to purchase car insurance in.

Information shown are approximated as the specific geographic location can lower or raise coverage rates considerably.

The car, truck, or SUV requiring insurance is one of the largest considerations when consumers are trying to find cheap car insurance for drivers under 25. Vehicles with reasonable performance levels, good safety features, or low incidents of liability claims will cost substantially less to insure than adrenaline junky models.

The information below showcases insurance prices for a selection of the most affordable automobiles to buy insurance for.

Table data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in vehicle garaging location which can revise rates greatly.

Looking at the rates, cars like the Ford Escape, Honda CR-V, Honda Odyssey, Hyundai Tucson, and Kia Forte are most likely to be a few of the cheaper vehicles to insure for drivers age 25 and younger. Prices will tend to be higher because of the fact that there is a higher risk for drivers under 25, but overall those models will tend to have the best rates compared to other types of vehicles.

Finding good, affordable auto insurance is not most people’s favorite thing to do, and finding out which company offers the lowest-priced insurance rates for drivers under 25 requires even more work. Coverage prices should be slightly more expensive than the average price in Wisconsin because of the potentially higher risk that goes along with selling coverage for drivers age 25 and younger, but reasonable insurance should be possible if you find the right company. Each auto insurance company uses their own method to set policy rates, so let’s take a look at the most budget-friendly insurance companies in Wisconsin.

Keep in mind that Wisconsin insurance rates are influenced by many factors that will increase or decrease the cost of coverage. Price variation is why drivers need to compare lots of rates when trying to get cheap car insurance rates for drivers under 25. Insurance rates consist of many things and can change substantially, so the most economical option six months ago may now be costing you a lot of money.

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USAA quotes some of the lowest car insurance rates in Wisconsin at around $580 per year. Partners Mutual, Erie, Pekin Insurance, and Nationwide also are some of the cheapest Wisconsin insurance companies.

As shown above, if you buy coverage from Nationwide and switched to Partners Mutual, you may see an annual savings of approxmiately $131. Drivers with Rockford Mutual could save as much as $132 a year, and Integrity Mutual policyholders might see rate reductions of $148 a year.

Understand that those premiums are averages for all drivers and vehicles and are not factoring in a rate surcharge for drivers under 25. So the car insurance company that can offer you the best rate may not even be shown in the list above. That point stresses why you need to get quotes using your own driver information and specific vehicle type.

Full coverage versus liability only rates

Finding cheap car insurance for drivers under 25 in Wisconsin is important to most vehicle owners, and one of the best ways to pay lower rates for insurance is to not buy comprehensive and collision coverage. The information below shows the comparison of car insurance costs with full physical damage coverage compared to only buying liability only. The data assumes no claims, a clean driving record, $250 deductibles, single status, and no discounts are taken into consideration.

As an average, comp and collision coverage costs an extra $1,343 per year more than just buying liability insurance. That is a big expense that brings up the question when is the right time to remove full coverage. There is no clear-cut rule to stop buying comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let’s assume your vehicle’s claim settlement value is $9,500 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $8,500 after the deductible is paid. If you are currently paying more than $850 a year for physical damage coverage, then you may want to consider only buying liability coverage.

There are a few situations where only buying liability is not a good idea. If you still owe money on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Geico, Allstate, State Farm, and Progressive: Who is best?

When buying auto insurance, four companies to definitely compare rates with are Geico, Allstate, State Farm, and Progressive. The following table points out some of the ratings and options shoppers can expect to find with each one.