Wisconsin law mandates car insurance coverage; without it, fines and license suspension may result. Therefore, it’s essential to shop around and compare rates in order to find the best value for your money. NerdWallet conducted research with top insurers across Wisconsin to identify those that provide average lowest prices on full coverage auto policies.
Wisconsin car insurance costs on average average cost around $361 annually for drivers with clean driving records. However, if you have committed traffic offenses such as DUI or moving violations on your record, your rates could increase substantially and a specialized provider who specializes in high-risk policies may offer lower premiums than traditional policies.
Certain companies offer lower rates than others depending on your state of residence. Due to an increased risk of accidents in densely populated urban areas, rates are more expensive than rural ones – thus making location an essential consideration when purchasing policies.
Credit scores play an integral role in how much drivers pay for car insurance, with insurers using credit information to assess risk. For instance, multiple at-fault accidents might require purchasing an SR-22 from an SR-22 specialist so as to obtain coverage.
Full coverage policies often cost more than liability-only policies due to comprehensive and collision coverage being more expansive in terms of covering costs resulting from auto accidents as well as theft, vandalism, or severe weather damage. An average comprehensive and collision policy in Wisconsin with a $500 deductible costs about $1,020 annually; 168% more than just liability-only policies!
If you want to save more on car insurance, why not bundle it with other types? Companies such as Integrity offer discounts when customers bundle auto and homeowners or renters policies together; just read the fine print beforehand so you get maximum value from your money!
Save by choosing an insurance provider with an A+ financial strength rating from AM Best. This rating indicates the strength and stability of the company, which may impact how quickly claims are paid out. These ratings are updated frequently; to see which rating applies to any particular company you may be considering visit its AM Best page; NerdWallet also provides an affordable rates tool that displays what rates might apply in your zip code by entering in some basic information like your address and basic demographic details about yourself.