For high risk drivers, one of the big things that play a part in determining the amount you pay each year for auto insurance is your zip code. Areas with more people like Milwaukee, West Allis, and Greenfield will most likely have higher rates, whereas cities that are not as densely populated tend to receive slightly lower rates.
The next table illustrates the priciest cities in Wisconsin for drivers requiring a SR22 to purchase auto insurance in.
|Rank||City||Average Per Year|
|21||Fond du Lac||$995|
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Premium costs are estimated as specific Wisconsin zip code can influence coverage prices greatly.
The vehicle model that needs insurance is one of the largest factors that determines if you can find cheap insurance for drivers requiring a SR22. Vehicles with high performance, a lack of advanced safety features, or high incidents of liability claims will cost more to insure than more economical and safe models. The data below shows insurance premiums for a number of the most economical automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,306|
|Honda CR-V EX-L 4WD||$1,313|
|Volkswagen Jetta S 2.5 Station Wagon||$1,382|
|Hyundai Elantra SE Touring Station Wagon||$1,393|
|Chevrolet Traverse LTZ AWD||$1,409|
|Subaru Forester X Premium AWD||$1,419|
|Kia Forte LX 4-Dr Sedan||$1,430|
|Toyota Highlander 2WD||$1,435|
|Toyota Tacoma 4WD||$1,430|
|Subaru Outback 2.5I||$1,443|
|Hyundai Tucson GLS 4WD||$1,476|
|Dodge Grand Caravan Crew||$1,511|
|Ford Edge SE AWD||$1,519|
|Honda Odyssey EX W/Rear Entertainment||$1,527|
|Nissan Altima 2.5 4-Dr Sedan||$1,536|
|Toyota RAV4 Limited 4WD||$1,547|
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Data variables include married male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, multi-policy, and homeowner. Premium amounts do not factor in vehicle garaging location which can modify coverage prices noticeably.
By looking at the data, models like the Ford Escape, Honda CR-V, and Volkswagen Jetta should be some of the more affordable vehicles to insure for high risk drivers. Car insurance rates will be more expensive because there is more claim risk for drivers requiring a SR22, but generally speaking those models will most likely have the best insurance prices available.
Figuring out which companies quote the lowest-priced auto insurance rates for drivers requiring a SR22 takes more work in order to find the best price. Every car insurance company uses different criteria to establish rates, so we need to take a look at the auto insurance companies that tend to have lower prices in Wisconsin.
Find Cheaper Car Insurance for SR22 Drivers
|Rank||Company||Cost Per Year|
|6||Rural Mutual Insurance||$756|
|11||West Bend Mutual||$890|
|15||Auto Club Group||$968|
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USAA quotes some of the cheapest car insurance rates in Wisconsin at around $586 each year. Partners Mutual, Erie, Nationwide, and Rockford Mutual are also some of the most economical Wisconsin insurance companies.
In this example, if you are a policyholder with Partners Mutual and switched to USAA, you might achieve yearly savings of around $28. Insureds with Erie could save as much as $138 a year, and Nationwide customers might realize rate reductions of up to $159 a year.
It’s important to note that these estimates are averages across all insureds and vehicles and and are not figured with a price increase for drivers requiring a SR22. So the company that fits your age and vehicle best may not even be in the company chart above. That points out the importance of why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
Finding cheap insurance for drivers requiring a SR22 in Wisconsin is important to most people, and one of the best ways to find cheap insurance is to only buy liability insurance. The example below compares annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Wisconsin. The premiums are based on no violations or claims, $500 deductibles, marital status is single, and no additional discounts are factored in.
Averaged for all age groups, comp and collision coverage costs $1,454 per year over and above liability only. That may make you wonder if physical damage coverage is worth the money. There is no definitive guideline of when to exclude physical damage coverage on your policy, but there is a general convention. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
One of the best ways to find the cheapest auto insurance premiums in Wisconsin for high risk drivers is to pay attention while driving and avoid accidents and traffic citations. The illustration below highlights how speeding tickets and at-fault fender-benders drive up car insurance costs for different categories of driver ages. The data assumes a single male driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
In the previous example, the average cost of car insurance in Wisconsin per year with no accidents and a clean driving record is $1,313. Get written up for one speeding ticket and the average cost hikes up to $1,481, an increase of $167 each year. Now throw in two accidents along with the one speeding ticket and the 12-month cost of auto insurance for drivers requiring a SR22 increases to an average of $3,055. That’s an increase of $1,742, or $145 per month, just for not driving safely!
The list below shows some of the recommended money-saving suggestions that can help you find the cheapest coverage.
The last tip in the list is incredibly valuable, as we noted in the prior information. Auto insurance rates in Wisconsin change frequently, so drivers shouldn’t hesitate to buy from a different company if you find a cheaper price.
Having a favorite company is fine, but it isn’t a good idea if it’s costing you thousands of dollars over several years. If you have a few minutes, shop around and find cheaper auto insurance for drivers requiring a SR22.
Consumers have many ways to comparison shop for auto insurance in Wisconsin, but the most common are from an exclusive agency like Allstate or Liberty Mutual, an independent insurance agent, or direct online or over the phone from a company like Geico or Progressive.
They all have the same end result, but it’s important to point out the distinctions in how they provide rate quotes.
Independent insurance agencies can place your business with multiple companies and can get rate quotes from each one. These types of agencies do not write with just one company and can give you more rates, which can help you get more bang for your buck. If prices rise, you can get a different policy without having to get a different agent.
An agent who is captive is usually restricted to a single insurance company, for example a State Farm or Farmers agent. This type of agents cannot provide rate quotes from other companies, which requires you to shop around.
The final way is buying direct, which means you skip an independent or exclusive agent and instead shop direct online or over the phone from a company like Esurance or Geico. Shopping direct can be a good choice for consumers who do not have a complex risk profile and have knowledge of what limits they need.
So which of the methods works best to buy cheap insurance for drivers requiring a SR22 in Wisconsin? It would be simple to say buying direct saves money since that prevents the need to pay agent commissions, but unfortunately, that is not always true. And we’d like to say an independent agent is the best way to go due to increased selection, but again, that’s not accurate. For some people, the exclusive agents have price quotes that are impossible to beat.
Since auto insurance prices vary so much, really the only way to find out which one is cheapest is to compare lots of quotes. It takes a little work, but we recommend you get price quotes from independent, exclusive, and direct to get an idea of which is cheapest. For a list of companies with some of the cheapest Wisconsin auto insurance rates, click here to view.