Cheap Car Insurance Companies In Wisconsin

The average semiannual cost of car insurance in the state of Wisconsin is $657.58. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in Wisconsin across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.

*Data Methodology – Updated 3/1/2024

The Wisconsin car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in WI. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.

Wisconsin Minimum Liability Coverage

Wisconsin state law requires that all drivers carry a minimum of $25,000 of bodily injury liability coverage per person, $50,000 of bodily injury liability coverage per accident, and $10,000 of property damage liability coverage. This is commonly referred to as 25/50/10 coverage.

Bodily injury liability coverage pays for injuries that you cause to other people in an accident. The $25,000 per person limit means that your insurance will pay up to $25,000 for injuries to any one person in an accident. The $50,000 per accident limit means that your insurance will pay a maximum of $50,000 for injuries to all people involved in a single accident.

Property damage liability coverage pays for damage that you cause to another person’s vehicle or property in an accident. The $10,000 limit means that your insurance will pay up to $10,000 for damage to another person’s property in any one accident.

Penalties for Driving Without Insurance in Wisconsin

Wisconsin law requires all drivers to carry liability insurance on any motor vehicle they own or operate. Drivers who fail to maintain insurance coverage face various penalties if caught driving without insurance.

The primary penalty for driving without insurance in Wisconsin is a fine. For a first offense, drivers face a fine between $500 and $1,000. For a second or subsequent offense within one year, the fine increases to between $1,000 and $2,000. Additionally, the driver’s vehicle registration may be suspended for up to 6 months for a first offense and up to 18 months for repeat offenses.

In addition to the fine and possible vehicle registration suspension, drivers caught without insurance may also have their operating privileges suspended. For a first offense, the driver’s license may be suspended for up to 6 months, and for a second or subsequent offense within 3 years, the suspension period increases to between 6 months and 9 months.

Drivers caught without insurance may also face surcharges on their driving record. These insurance surcharges will increase the cost of the driver’s auto insurance for a period of 3 years after the violation.

In some cases, a driver caught without insurance may be required to obtain SR-22 insurance. This type of high-risk insurance coverage requires the insurer to report the driver’s insurance status to the state. The driver must maintain SR-22 insurance for a specified period to maintain their driving privileges.

Auto Insurance Rates in Wisconsin

Wisconsin auto insurance rates vary widely between different insurance companies and different parts of the state. According to the National Association of Insurance Commissioners, Wisconsin ranks 18th highest for average annual premiums paid for auto insurance. Several factors impact auto insurance rates in Wisconsin.

Geography: Rates tend to be higher in more urban areas like Milwaukee and Madison where there are more drivers and accidents. Rural areas see lower rates overall.

Driving Record: Your driving history is the biggest factor in your rates. Those with no violations, accidents, or claims will pay the lowest premiums. Any tickets, at-fault accidents, DUIs, or claims will cause rates to increase.

Credit Score: Insurers use credit-based insurance scores as an indicator of risk. Those with poor credit tend to file more claims and have higher rates as a result. However, Wisconsin does prohibit insurers from using credit scores as the sole factor in pricing.

Age and Gender: Younger drivers under 25 and high-risk groups like teenage males typically pay higher rates. Rates tend to decrease as drivers age and gain more experience.

Vehicle Type: More expensive vehicles with higher repair costs have higher premiums. Sports cars and luxury vehicles also see higher rates due to their performance.

Coverage Levels: Choosing higher liability limits and adding comprehensive and collision coverage will increase your premium payments.

Insurer: Different insurance companies use different rate calculations and pricing models, so rates can vary widely between providers. Shopping around and comparing multiple quotes is recommended.

Low Cost Car Insurance Programs and Discounts in Wisconsin

Car insurance is mandatory in Wisconsin, but the cost of coverage can still be a burden for some drivers. Fortunately, there are several programs and discounts available to help lower your car insurance premiums.

Low-income drivers may qualify for Wisconsin’s Low-Income Auto Insurance Program. This state-run program offers basic liability coverage at reduced rates. To qualify, your household income must be at or below 200% of the federal poverty level.

Several insurance companies in Wisconsin offer discounts for good drivers, safe vehicles, and multiple policies. Good driver discounts are available for drivers with a clean driving record. Safe vehicle discounts apply to cars with safety and anti-theft features. Bundling your auto and home insurance with the same company can also earn you a multi-policy discount of up to 20%.

Other common Wisconsin car insurance discounts include:

– Student discounts for full-time students under 25 years old
– Military discounts for active or retired military members and their families
– Senior discounts for drivers age 55 and older
– Anti-theft device discounts for vehicles with approved alarms or immobilizers
– Defensive driving course completion discounts

Wisconsin Car Insurance Statistics

Wisconsin has relatively low car insurance rates compared to many other states. According to the most recent data from the National Association of Insurance Commissioners (NAIC), here are some key facts about car insurance in Wisconsin:

• The average annual premium for car insurance in Wisconsin is $802. This is one of the lowest average premiums in the country and is 12% below the national average of $914.
• Teenage drivers (ages 16 to 19) pay some of the lowest car insurance rates in the country in Wisconsin. The average annual premium for a teenage driver is $2,700, which is 23% below the national average of $3,500.
• Wisconsin has a relatively low frequency of car crashes and claims compared to other states. In 2019, there were 22.5 crashes per 1,000 licensed drivers in Wisconsin, compared to a national average of 30.8 crashes.
• The required minimum liability insurance limits in Wisconsin are also on the lower end at $25,000 per person/$50,000 per accident for bodily injury coverage and $10,000 for property damage coverage. Many states have higher minimum requirements.
• Wisconsin is a tort state for auto insurance, meaning that people injured in car crashes can sue for compensation beyond what their own insurance covers. This tends to drive up insurance costs compared to no-fault states.

The Largest Wisconsin Car Insurance Companies

Wisconsin drivers have many car insurance options to choose from. To help narrow down the search, here are the 10 largest car insurance companies in Wisconsin based on market share.

1. State Farm has the largest market share of around 23%. As the largest auto insurer in the U.S., State Farm has a strong presence in Wisconsin with a large network of agents.
2. Progressive comes in second with a market share of about 14%. Progressive is known for its competitive rates and wide coverage options. The company is headquartered in Ohio but has locations across Wisconsin.
3. Allstate ranks third with around 10% of the market. Allstate has been providing auto insurance in Wisconsin for over 80 years. In addition to standard coverage, Allstate offers gap insurance and rideshare coverage.
4. American Family Insurance has a market share of roughly 9%. As a Wisconsin-based insurer, American Family understands the unique needs of Wisconsin drivers. They are known for prioritizing customer service and being easy to work with.
5. Auto-Owners (Auto-Owners Insurance) has a market share of around 6%. Auto-Owners has been serving Wisconsin customers for decades and offers many discounts to Wisconsin drivers.
6. Farmers Insurance has a 5% market share in Wisconsin. Farmers provides a wide range of auto insurance options, including rideshare coverage and usage-based policies.
7. Sentry Insurance has a 4% market share and has been serving Wisconsin customers for over 70 years. Sentry is known for their commitment to the community and being an advocate for Wisconsin drivers.
8. The Auto Club Group, which includes AAA and ACIG, has about 3% of the Wisconsin market. They have a large network of AAA locations across the state.
9. Liberty Mutual and Esurance each have around 2% of the market. Both companies offer competitive rates and a variety of policy options.