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How much is car insurance in Madison?
|Area||Average Monthly Car Insurance Premium|
The cost of coverage in Madison is about $12 a month cheaper than it is for the rest of Wisconsin.
Drivers relocating from out of state may enjoy some cost savings in Madison. You can expect to pay about $39 less for your policy in Madison than in the rest of U.S.
These rates provide a great starting point for understanding what to expect for your monthly payment, but there's no guarantee that this is what you will end up paying. There are a variety of factors that insurance companies consider when determining how much to charge you for insurance. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly payment amount.
Don't sweat it however, we've broken down average rates for Madison residents so that you can get a more accurate idea of what you might pay. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
More time behind the wheel makes you a more experienced driver. That experience can turn into some real savings when it comes to car insurance premiums. In this case, 18-24-year-olds pay a lot more than drivers 65 and older.
For every ten years older you get, you can expect to see a drop in your monthly premium. You may see your rates creep back up a bit once you hit retirement in Madison.
Average Car Insurance Rates by Gender
Male drivers pay, on average. slightly more than female drivers for auto insurance. This rings true in Madison, where women pay around $7 less per month than men. As you can see in the table above, male drivers in the area typically pay $45 on average, while female drivers typically pay $38 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. A clean driving record will get you a lower rate than one with even just a single accident or infraction. In Madison, a driving record with a single accident will usually get you a rate around $57 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $55.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$60|
|15 Years or Older||$46|
According to the first table above, the cheapest vehicles to insure in Madison are usually SUVs, at $39 per month.
Truck and van drivers will see rates of about $40 to insure their car, while car owners typically pay around $44 a month.
In addition to vehicle type, you can also expect to see slightly different rates depending on how old your vehicle is. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is a few years old you may start to see your rates drop back down a bit. In Madison, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$44|
Generally, married policyholders will pay slightly less for auto insurance. This occurs because insurance companies commonly award special discounts to policyholders with multiple vehicles that are on the same policy.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Madison, with married couples paying about $8 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$59|
Another factor taken into consideration is your living accommodations. If you rent your home or apartment, expect to pay around $10 a month more than homeowners in Madison. But those who live at home with their parents can expect to pay significantly more.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Madison, WI
Recent trends in car insurance for Madison drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before choosing where to shop.
Car insurance rates in Madison have been mixed as of late, they dropped in 2017, increased in 2019, and decreased again in 2021, before finishing at $39 in 2022.
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 a number of factors when deciding 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:
- Crime rates
- Road Safety (frequency of local car accidents)
- Area laws
- Amount of off-street parking
- Total number of drivers
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. Get started with a guide like this to get familiar with the average rates of your area.
How can I find the cheapest car insurance in Madison?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Fortunately, Compare.com has you covered. Enter your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from dozens of car insurance companies offering plans in Madison in no time.
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Madison Insurance FAQs
What factors affect car insurance quotes in Madison?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your address, driving record, credit score, and marital status.
Why is the cost of car insurance in Madison different from other neighboring cities?
Things like parking situations, local laws, 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?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
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?
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