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UPDATED: Jan 10, 2019
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Madison car insurance is a requirement for every law-abiding citizen. With new insurance changes in the state statutes, an increasing number of options, and an array of local companies offering car insurance, finding the right policy can seem difficult.
The details below can help savvy shoppers understand the amount and types of car insurance coverage they need, and the average premiums for Madison residents.
Once you gather this information, you can compare quotes easily online with the FREE tool above. Just enter your ZIP code now!
Madison Car Insurance Basics
Madison is Wisconsin’s capital and second largest city. With over 233,000 people in the city and 562,000 people in the metropolitan region, this area provides a number of opportunities in government, education, and health care.
The area also presents an environment ripe for accidents and the seemingly inevitable car insurance claim. Winter temperatures frequently dip below freezing and moderate to heavy snow is common. Additional collisions occur on the icy roads around the Four Lakes, and every driver dreads the traffic on the Beltline, I-90, I-94, and I-39.
An adequate level of Madison car insurance is essential for financial protection, especially due to the elevated risk of a winter car accident.
Driver Requirements for Madison Car Insurance
Current Wisconsin law requires drivers in Madison to carry at least a 25/50/10 liability policy anytime they take their vehicles on the roadways. This Madison car insurance policy consists of:
- $25,000 is the state minimum car insurance coverage of bodily injury and death coverage for a single person.
- $50,000 is the least allowable amount of total bodily injury and death coverage for more than one person involved in a single accident.
- $10,000 is the minimum coverage of property damage liability for a single accident.
These minimum insurance requirements apply to policies issued or renewed on or after November 1, 2011. Madison car insurance policies issued before that date are still required to have the previous limits of 50/100/15.
In addition to the minimum liability requirements, Madison drivers must also carry uninsured motorist coverage of $25,000/$50,000 for bodily injuries. Under 2011 Wisconsin Act 14, underinsured motorist coverage is no longer mandatory.
Prior to November 1, 2011, drivers must purchase both uninsured and underinsured motorist coverages of at least $100,000/$300,000 for bodily injuries.
The medical payments, or MedPay, portion of Madison’s city car insurance covers the healthcare and funeral expenses for the policy owner or other people injured or killed while riding in the insured vehicle. Insurers are obligated to offer this type of coverage, but residents of Madison are not required to accept.
If a Madison driver chooses to purchase medical payments insurance before November 1, 2011, the minimum level is $10,000. On or after November 1, 2011, the minimum level drops to $1,000. This new level applies to both new policies and policy renewals.
Related Insurance Laws for Madison, WI
After a policy is issued, Madison car insurance companies have a 59-day window in which to cancel the insurance for any reason. The company must provide a 10-day notice of cancellation.
Insurance companies that alter the terms of their renewal contracts must leave a 60-day gap before the changes can take place. The only exception to this prior notice requirement is if the only modification to the policy is the rate change and the rate changes less than 25 percent. Madison car insurance providers must also provide a 60-day written warning if they choose not to renew a policy.
Car insurers in Madison cannot refuse to issue or renew a policy based solely on any of the following characteristics:
- National origin
- Marital status
- Sexual preference
- Physical disability
- Past mental disability
- Moral character
Madison Car Insurance Rates
On average, Wisconsin drivers pay about $350 less per year than the rest of Americans, and Madison drivers pay even lower rates. Madison car insurance costs about $1,009 annually, versus $1,061 for the Wisconsin car insurance average and $1,436, as the state average in car insurance for the U.S.
Average premiums can increase or decrease for a number of reasons. For example, over 28% of Madison drivers are under the age of 25. These young drivers are more likely to be involved in accidents due to their inexperience, so Madison insurance companies charge them, and their parents, higher insurance rates for young drivers car insurance.
Someone who drives a vehicle that is frequently targeted by thieves is also likely to pay more in Madison insurance premiums.
For instance, the National Insurance Crime Bureau reports that the 1998 Dodge Caravan, the 1995 Honda Civic, and the 1992 Honda Accord are some of the most stolen cars in the area.Insurance rates for these vehicles tend to be higher than for similar vehicles with the same model year.
Madison Car Insurance Companies
Madison is home to a wide selection of insurers, including the companies listed below. By taking the time to compare Madison car insurance quotes from a number of carriers, you can make sure you receive quality coverage at an affordable price. You can see how much you can save today by using our free car insurance quote comparison search!
- State Auto
- State Farm
- American Family
- Rural Mutual Insurance
Madison car insurance customers can receive some of the best premiums in the state but only if they compare policies and make a fully informed decision. The simplest method for conducting an in-depth comparison is to complete our free car insurance quote form.
The same data is submitted to several auto insurance companies, which means that the quotes, discounts, and terms you receive back will be based on apples-to-apples figures.
By performing a free Madison car insurance comparison, you can discover whether that rate you were quoted by a big insurance agency is truly the cheapest car insurance on the block. You get the auto insurance you need at a price you can afford, just by investing a few minutes of your time. Our company aims to make buying Madison car insurance easy, so start the process today and see how simple saving money can be.
Try it out now with our FREE car insurance quote comparison tool! Enter your ZIP code below!