Table of contents
How much is car insurance in Madison?
| Area | Average Monthly Car Insurance Premium |
|---|---|
| Madison | $42 |
| WI | $53 |
| United States | $80 |
As you can see in the chart above, it is around $11 a month cheaper to insure your vehicle in Madison than it is in the rest of Wisconsin.
If you're thinking of moving to Madison from out of state, you may still be in luck. It's around $38 less to insure your vehicle compared to the average rate for the United States as a whole.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all taken into consideration when calculating the final dollar amount you'll be asked to pay each month.
Don't sweat it however, we've broken down average rates for Madison residents based on several different factors so that you can get a more accurate idea of what it might cost to insure your vehicle. And if you think you might be overpaying for insurance, simply enter your ZIP Code below to learn more about rates in your area!
Average Car Insurance Rates by Age
| Age Range | Average Premium |
|---|---|
| Under 18 | $91 |
| 18-24 | $59 |
| 25-34 | $35 |
| 35-44 | $37 |
| 45-54 | Not Enough Data |
| 55-64 | $28 |
| 65+ | $35 |
Generally, the older you are, the more experienced you are on the roads, right? When it comes to auto insurance premiums, that experience pays off. As you can see, 18-24-year-olds pay $24 more than someone who is retirement aged.
Every ten years or so you can expect to see a decline in your monthly premium. Once you hit retirement age, however, your rates may climb back up a bit in Madison.
Average Car Insurance Rates by Gender
| Gender | Average |
|---|---|
| Male | $44 |
| Female | $37 |
In general, women pay slightly less for car insurance than men. The difference in Madison is around $7 per month. As illustrated in the table above, male drivers in the area pay about $44 on average, while female drivers pay around $37 each month.
Average Auto Insurance Rates by Driving Record
| Infractions | Average Monthly Premium |
|---|---|
| 1 Accident | $56 |
| Multiple Accidents | $103 |
| 1 Ticket | $104 |
| Multiple Tickets | $144 |
Depending on your driving record, your rates can vary quite a lot. Drivers with clean records will pay significantly lower rates than those with accidents or violations. In Madison, drivers with one accident on their record will experience rates around $56 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $104.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. In order to minimize your monthly rate, practice safe driving habits and keep your record clean.
Average Insurance Rates by Vehicle
| Vehicle Age | Average Monthly Premium |
|---|---|
| Less Than 1 Year | $49 |
| 2-3 Years | $46 |
| 4-5 Years | $35 |
| 6-7 Years | $42 |
| 8-10 Years | $43 |
| 11-14 Years | $38 |
| 15 Years or Older | $45 |
In terms of affordable coverage, the cheapest vehicles to insure in Madison are typically trucks and vans, at $37 per month.
SUV drivers will see rates of about $38 for insurance coverage, while car owners by and large pay around $43 a month.
Vehicle age can also affect your monthly bill. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old, however, you may see your rates begin to drop back down. 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) | $43 |
| Married | $36 |
| Divorced | $34 |
| Widowed | $44 |
Overall, married policyholders will pay slightly less to insure their car. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
According to the table above, the difference in rates based on relationship status in Madison can be as much as $7 a month, so it's worth taking into consideration.
Average Car Insurance Rates by Housing Situation
| Housing Status | Average Monthly Premium |
|---|---|
| Own | $35 |
| Rent | $49 |
| Live with parents | $59 |
Another factor taken into consideration is your living situation. In Madison, homeowners can expect to pay around $14 a month less than those who rent. But if you live with your parents, your rates will be significantly higher.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your car insurance premiums.
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 selecting an insurance provider.
In Madison, car insurance rates declined from 2016-2018, when they hit a low of $36. This pattern leveled out in 2019, when they began to rise, and have continued on that road through the present, where rates finished at $98 per month.
How does Madison compare to neighboring areas?
Why are car insurance rates in Madison different from other areas?
There are a lot of factors car insurance companies take into consideration when figuring out how much to charge for a monthly rate. Your insurance policy will depend largely on where you park your car and will be influenced by things such as:
- Area regulations
- Rate of car accidents
- Number of drivers in the community
- Local crime rates
- Off-street parking availability
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Madison?
In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.
But wait! Compare.com can handle all of this for you. Just punch in your ZIP below, answer a few questions about your driving profile, and you'll be quickly comparing the cheapest quotes from loads of the car insurance companies offering coverage in Madison.
Madison Insurance FAQs
What factors affect car insurance quotes in Madison?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your driving record, address, credit score, and marital status.
Why is the cost of car insurance in Madison different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, crime rates, and parking situations into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Madison?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Madison?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
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?