Who Has Cheap Insurance for Used Cars in Wisconsin?

The words “low-priced” and “auto insurance” probably shouldn’t be used in the same sentence, especially when you are searching for the best coverage prices for used cars. Because of the high cost, let’s start the ball rolling by going over a few of the things that have a considerable impact on auto insurance prices, and see if we can help you take a little off your next policy.

The vehicle that needs insurance is one of the primary factors when looking for cheap insurance for used cars in Wisconsin. Vehicles with limited speed and performance, a plethora of safety features, or a track record of few liability claims will cost significantly less to insure than adrenaline junky models. The information below illustrates insurance prices for a selection of the cheaper automobiles to insure.

Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Price information does not factor in specific garaging location which can change price quotes considerably.

Looking at the numbers, you can figure that makes and models like the Hyundai Elantra, Ford Edge, Toyota Prius, and Subaru Forester are going to be the more affordable vehicles to insure for pre-owned vehicles.

For pre-owned vehicles, one of the more important considerations that is used by auto insurance companies to calculate the amount you pay for auto insurance is where you keep your car in Wisconsin. Regions with larger populations or more claims like Milwaukee, Racine, and West Allis are more likely to pay higher prices, whereas more rural areas have the benefit of cheaper auto insurance prices.

The next table illustrates the most costly cities in Wisconsin for used cars in which to buy car insurance.

Table data uses comparative as vehicle location can increase or decrease auto insurance rates significantly.

Establishing which companies quote the lowest-priced insurance rates for used cars involves a tad more effort in order to find the best price. Each auto insurer has their own guidelines to set premium rates, so let’s take a look at the lowest cost insurance companies in Wisconsin.

Best Cheap Insurance Rates for Used Cars

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USAA offers some of the cheapest car insurance rates in Wisconsin at around $604 per year. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance also make the cut as some of the cheaper Wisconsin auto insurance companies.

In this example, if you have coverage with Partners Mutual and switched to USAA, you could realize a yearly price reduction of roughly $4. Drivers with Erie could save as much as $113 a year, and Rockford Mutual policyholders might see rate reductions of $128 a year.

To see how much you can save, click here to begin a quote or visit any of the companies below.

Remember that these rates are averaged for all drivers and vehicles in Wisconsin and do not take into consideration a rate discount for used cars. So the insurer that fits your situation best may not even be in the rate chart shown above. That affirms the importance of why you need to get auto insurance quotes using your own driver and vehicle profiles.

How much more does full coverage cost in Wisconsin?

Finding cheap insurance for used cars in Wisconsin should be important to the majority of people, and one common way to buy cheaper insurance is to only buy liability coverage. The chart below illustrates the difference between annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Wisconsin. The premiums assume no accidents, no driving violations, $500 deductibles, marital status is single, and no discounts are factored in.

If we average the cost for all age groups, full coverage costs $1,476 per year over liability only. A very common question is when is the right time to remove full coverage. There isn’t a steadfast formula of when to phase out physical damage insurance, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $4,000 after paying your policy deductible. If it’s costing in excess of $400 annually for physical damage coverage, then you might want to think about dropping full coverage.

Safe drivers Wisconsin pay cheaper rates

The ideal way to get the best insurance premiums in Wisconsin for pre-owned vehicles is to be a cautious driver and not have accidents or get tickets. The example below shows how traffic citations and accident claims can drive up auto insurance rates for each different age group. The data is based on a single male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

In the example above, the average cost of auto insurance per year with a clean driving record and no accidents is $1,650. Get one speeding ticket and the average cost hikes up to $1,857, an increase of $207 each year. Now get two accidents along with the one speeding ticket and the yearly cost of insurance for used cars goes up to an average of $3,648. That’s an increase of $1,999, or $167 per month, just for not paying attention while driving!

Who is cheaper: Progressive, Allstate, State Farm, or Geico?

When comparing car insurance for pre-owned vehicles in Wisconsin, four companies to consider are Progressive, Allstate, State Farm, and Geico. All four offer physical damage and liability coverage, but each has unique coverages that may influence your buying decision. The next table points out ratings for price and service, as well as some optional coverages that are available.