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How much is car insurance in Madison?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, it costs about the same to insure your vehicle in Madison as it does in the rest of Alabama.
Compared to the national average cost of auto insurance coverage, Madison has lower rates. You can expect to pay about $27 less for your policy in Madison than in the rest of U.S.
While these are the average car insurance rates for Madison, you could end up paying something different. Insurance companies weigh a variety of factors when determining how much to charge you for car insurance. The bill you'll see each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
But worry not, we've done the heavy lifting and broken down the average rate for Madison to help you understand what exactly you might be asked to pay. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP below to learn more about rates in your area!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The older you are, the more experience you're likely to have on the roads, right? When it comes to auto insurance rates, that experience can help put some change back into your pocket. According to the table above, you can see that 18-24-year-olds pay $37 more than drivers 65 and older.
For every 10 years, you can expect to see a drop in your monthly premium. Drivers in Madison may see their rates creep back up a bit once they hit retirement.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. The difference in Madison is around $4 a month. As illustrated in the table above, male drivers in the area pay about $55 on average, while female drivers pay around $51 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the key factors in determining your car insurance rates is your driving record. Drivers who avoid accidents and tickets will pay significantly lower rates than those with infractions. Drivers in Madison with a single accident on their record will usually see rates around $77 a month. In addition, drivers with one ticket can expect to pay around $70 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$58|
|15 Years or Older||$54|
According to the first table above, the cheapest vehicles to insure in Madison are by and large SUVs, at $49 per month.
Car owners will see rates of about $54, while truck and van owners usually pay around $57 per month.
You may also see different rates based on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. However, your rates may start to drop back down once your car is about 5 years old. In Madison, the most expensive vehicles to insure are vehicles two-to -three years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$54|
On average, people who are married will pay slightly less for car insurance coverage. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
Although married couples normally pay less than single drivers to insure their vehicles, the rates for both groups in Madison are about the same.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$61|
One other element taken into consideration is your housing situation. If you rent your home or apartment in Madison, expect to pay around $12 a month more than if you are a homeowner. Those who live with their parents, however, can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Madison, AL
Recent trends in car insurance for Madison drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when selecting an auto insurance policy.
In Madison, the rates for auto insurance increased from 2016-2018, when they reached a high of $58. This changed in 2019, when they began to decrease again. They finished up in 2021, at $58 a month
How does Madison compare to neighboring areas?
Why are car insurance rates in Madison different from other areas?
Car insurance companies will take into account numerous factors when they're choosing how much to charge for a policy. While we already talked about the ones that affect your personal policy, others are based around where you call home. These include things like:
- Number of car accidents
- Prevalence of crime
- Regional laws
- Total amount of drivers in the area
- Off-street parking availability
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Madison?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Luckily, Compare.com does all of that work for you. Put in your ZIP Code below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from dozens of car insurance companies that offer coverage in Madison.
Madison Insurance FAQs
What factors affect car insurance quotes in Madison?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your address, driving record, marital status, credit score, plus your vehicle's year and make and model.
Why is the cost of car insurance in Madison different from other neighboring cities?
Things like local laws, parking situations, and crime rates, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Madison?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Madison?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Madison or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?