Cheap Auto Insurance for Business Use in Wisconsin

It would sure make life easier if we could simply give you the name of the single best company that has the cheapest rate quotes in Wisconsin. Regrettably, it’s not quite that easy, as there are a whole bunch of unknown aspects such as if your vehicle is used for personal use or work, if you are currently insured, the vehicle you drive, and whether you have good credit. The content below will cover the best ways to save on auto insurance and will hopefully give you a good start to your coverage search.

One of the key considerations that auto insurance companies use to calculate the cost of insurance is where you call home in Wisconsin. More populated areas like Milwaukee, West Allis, and Racine tend to pay slightly more, whereas areas with less congestion enjoy lower auto insurance rates.

The next table rates the most expensive places in Wisconsin for business use to buy auto insurance in.

Table data uses comparative as the specific Wisconsin residence address can modify rates significantly.

The vehicle that is being insured is probably the most important factor when comparing affordable car insurance for business use. Vehicles with average performance, modern passenger safety features, or low incidents of liability claims will cost much less to insure than high performance models. The table below showcases car insurance rates for some of the cheapest vehicles to buy coverage for.

Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Premium costs do not factor in specific location which can raise or lower coverage prices considerably.

Based upon the table data, we can presume that cars like the Honda Accord, Chevrolet Traverse, Toyota Prius, Toyota Tacoma, and Chevrolet Malibu are most likely to be a few of the more affordable vehicles to insure for using your car for business. The price of auto insurance will tend to be more expensive anyway just due to the fact that there is more inherent risk for business use, but generally speaking those particular models will tend to have the cheapest rates compared to other vehicles.

Safe drivers Wisconsin pay cheaper rates

The best way to receive the cheapest car insurance prices in Wisconsin for using your car for business is to drive safe and have a clean driving record. The diagram below demonstrates how citations and accidents impact premium costs for different age groups of insureds. The rate quotes are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.

In the chart above, the average cost of auto insurance in Wisconsin per year with no violations or accidents is $1,296. Factor in one speeding ticket and the average cost swells to $1,461, an increase of $166 each year. Now include one accident along with the one speeding ticket and the annual cost of car insurance for business use jumps again to an average of $1,926. That’s an increase of $630, or $53 per month, just for being a little careless behind the wheel!

Full coverage rates compared to liability-only

Finding cheap auto insurance for business use in Wisconsin is important to most drivers, and a good way to save on the cost of insurance is to not insure for full coverage. The information below illustrates the comparison of premium costs with liability coverage only compared to full coverage. The costs are based on no claims or driving citations, $250 deductibles, single status, and no discounts are taken into consideration.

On average, physical damage coverage costs $1,343 per year over liability only. That is a significant amount which raises the question when is it safe to stop buying full coverage. There is no exact rule that is best for determining when to drop physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

How to find economical insurance for business use

Here are many thrifty solutions that can help you quote low-cost coverage.

• Do not get into accidents
• Safer vehicles generally have cheaper insurance rates
• Buying home and auto insurance together can earn discounts
• Do not pay for comprehensive and collision coverage on older vehicles
• Maintaining good credit helps earn cheaper rates
• Keep rates low by shopping around frequently

The final tip is incredibly vital, as was noted in this piece. Prices charged by car insurance companies can be changed at any time, so don’t be afraid to switch to a new company if a better rate can be found. Being loyal to a particular company is commendable, but it’s not recommended if that devotedness results in you overpaying big bucks every year. In just a couple of minutes you could compare rates to find cheaper auto insurance for business use.

Cheapest insurance quotes for using your car for business

Consumers have many ways to quote cheap car insurance rates in Wisconsin, but the most prevalent are through an exclusive insurance agency like State Farm or Auto-Owners, an independent insurance agent, or direct from companies such as Progressive or Geico.

They all follow the same basic process, but car insurance buyers need to understand the differences in how they function.

Independent agencies write for multiple companies and can compare coverage rates with each one. These types of agents are not employed by one specific company and can give you a larger rate selection, which can help you get a better overall rate comparison. If the agent locates a cheaper price, they simply move your policy to a different company without you having to go to a different agency.

An agent who is captive is able to quote prices with just one company, examples being an Allstate or Liberty Mutual agent. Exclusive agents generally are unable to quote prices from more than just one company, so if prices are high they cannot provide alternatives.

If you want to buy car insurance direct, you bypass a local insurance agent and instead buy direct online or over the phone from a company like Esurance or Geico. This option may be a decent choice people who have limited assets and have a decent understanding of what is covered and what is not.

So which one of the three ways works best to find cheap auto insurance for business use in Wisconsin? Most drivers assume that buying from a direct car insurance company saves the most money since that eliminates agent commissions, but unfortunately, that is not the case. It could also be said going through an independent agent results in the best rates because they can shop around, but again, it’s not a sure thing. In some circumstances, exclusive agents may have very competitive prices well below independent agents AND direct companies.

Because of the variability of car insurance rates, the only true way to buy the cheapest policy is to compare, compare, and compare some more. Money-saving experts recommend you get quotes from all three in order to find the best price. For a list of companies with some of the cheapest Wisconsin car insurance rates, click here to view.