The Cheapest Auto Insurance in Milwaukee in 2023

Wisconsin drivers have some of the lowest insurance rates in the country — but Milwaukee’s rates exceed the state average. Luckily, Safeco and Nationwide offer Milwaukee drivers affordable premiums.

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Whether you’re visiting the renowned Milwaukee Art Museum or an iconic brewery, getting around the city is relatively smooth. And recent public transit improvements have eased traffic in Wisconsin’s largest city. No wonder Milwaukee’s average commute time is nearly five minutes below the national average.

But this relative lack of traffic hasn’t kept Milwaukee’s car insurance rates from rising. Milwaukee drivers pay $203 per month on average — $66 higher than the rest of Wisconsin.

In this guide, we’ll explore the cheapest car insurance options for drivers in Milwaukee and break down which companies work best for specific types of drivers.


Key Takeaways:

  • Safeco’s average car insurance rate of $103 per month is the cheapest in Milwaukee.
  • First Chicago’s average rate of $283 per month is the lowest for teens in the area.
  • Milwaukee’s average car insurance rate is $68 higher than Madison’s.

Milwaukee’s Cheapest Car Insurance Companies

Neighborhood in Wisconsin

While Milwaukee drivers pay an average of $203 per month for car insurance, you can save by purchasing your policy from a more affordable insurer.

“Wisconsinites are lucky to have a lot of choice when it comes to car insurance,” says Andy Franken, president of the Wisconsin Insurance Alliance. “This breadth of consumer choice drives prices down — and makes it easier for drivers to shop around for the policy that fits their needs and budget.”

Here are the five cheapest auto insurers in Milwaukee, based on Compare.com data.

Company Monthly Premium
Safeco $103
Nationwide $130
First Chicago $161
Liberty Mutual $187
GAINSCO $189

Safeco is the cheapest company in Milwaukee, with an average car insurance rate of $103 per month. Various factors affect your auto insurance rates, so Safeco may not be the cheapest for everyone.

Different drivers have different needs when it comes to insurance, so let’s highlight the best car insurance companies for your particular situation.


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How We Chose the Cheapest Companies in Milwaukee

Our team analyzed thousands of rates from dozens of the top insurance companies in Milwaukee. Using that data, we listed the five cheapest options for Milwaukee drivers based on several key factors, such as age, coverage level, driving history, and more. All the rates listed are based on someone who drives a 2016 Honda Accord and has the minimum limits for coverage in Milwaukee. The listed “full-coverage” rates include $500 deductibles for collision and comprehensive coverages in addition to state-minimum liability coverage.

The Best Car Insurance Companies in Milwaukee in 2023

No single car insurance company is perfect for all drivers. Certain companies have unique qualities and offers that make them well-suited for specific types of drivers.

The following sections will pinpoint the best auto insurance companies for cost-conscious drivers, teen drivers, and discount-seeking drivers in Milwaukee.

Safeco: Best for affordable coverage

Safeco offers the cheapest car insurance policies in Milwaukee, with an average rate of $67 per month for liability coverage and $135 for full coverage. Drivers can save even more through Safeco’s discounts, a 2.5% cash-back reward for safe driving, and its RightTrack telematics program, which rewards safe drivers with up to $513 in savings.

Unfortunately, Safeco’s J.D. Power customer satisfaction rating (795/1,000) is below average. But the company’s A grade from AM Best underscores Safeco’s financial strength.

Pros:

  • Offers the lowest rates in Milwaukee
  • An A financial strength rating from AM Best
  • Discounts and telematics offer additional savings

Cons:

  • Below-average customer satisfaction rating from J.D. Power
  • Receives more NAIC complaints than average
  • Mixed customer reviews on Better Business Bureau

First Chicago: Best for teens

Teen drivers pay higher car insurance rates, but First Chicago offers Milwaukee teens the lowest rates, at $283 per month on average. First Chicago offers a good student discount for teens who maintain a high GPA, and their multi-car discount works well for parents who add their teens’ cars to their existing policies.

While some customers might appreciate the small, boutique feel of an insurer like First Chicago, the company may lack the resources of larger car insurance companies, like State Farm or Allstate. For instance, AM Best gives First Chicago a B grade, indicating only fair financial strength.

Pros:

  • Lowest average rate for Milwaukee teens
  • Offers student-friendly discounts
  • 24/7 claims services

Cons:

  • B financial strength rating from AM Best
  • Available in only eight states
  • Receives far more NAIC complaints than average

Nationwide: Best for discounts

Milwaukee residents already pay an average of $130 per month for Nationwide car insurance, which is below the state average. But drivers can save even more when they take advantage of Nationwide’s generous bundling discounts, with drivers saving an average of $646 when they purchase Nationwide’s home and auto policies together.

Nationwide’s J.D. Power customer satisfaction rating (821/1,000) is below average for the region, but its A+ financial strength rating from AM Best means you don’t have to worry about the company’s ability to pay out claims.

Pros:

  • Second-lowest average rate in Milwaukee
  • A+ financial strength rating from AM Best
  • Offers generous discounts

Cons:

  • Slightly above-average number of NAIC complaints
  • Not available in all states
  • Below-average customer satisfaction rating from J.D. Power

Cheapest Car Insurance Rates for Liability Insurance: Safeco

Your coverage level affects your car insurance rates substantially. Drivers who purchase just liability insurance typically pay lower rates. Liability insurance at the state-minimum coverage level is the cheapest policy available — though keep in mind it only covers the other driver’s medical bills and repairs after an accident.

The following table highlights the cheapest car insurance companies in Milwaukee for liability insurance.

Company Monthly Premium
Safeco $67
Nationwide $75
GAINSCO $95
First Chicago $104
Liberty Mutual $108

Safeco offers the cheapest liability-only policies, though Nationwide’s average rate is just $8 more per month. All five companies have average rates that are comfortably below Wisconsin’s average.

But what if you want a policy with more coverage? Let’s take a look at the most affordable full-coverage policies in Milwaukee.

Cheapest Car Insurance Rates for Full-Coverage Insurance: Safeco

A full-coverage policy includes liability insurance, as well as collision and comprehensive coverages. Collision insurance covers damage to your own vehicle after an accident, while comprehensive insurance covers damage from non-collision events, like fire, severe weather, and vandalism.

Naturally, full coverage is more expensive than liability-only, but you can still find a great deal from the right company.

Here are five of the cheapest insurers for full coverage in Milwaukee.

Company Monthly Premium
Safeco $135
Nationwide $166
First Chicago $205
Liberty Mutual $227
MetLife $285

Safeco is the only company that offers full-coverage policies below the overall state average, with average full-coverage rates of just $135 per month. Safeco, Nationwide, First Chicago, and Liberty Mutual appear on both the full coverage list and liability-only lists — clearly establishing them as Milwaukee’s affordable choices.

Compare Milwaukee Auto Insurance Rates by Age

Historic city in Milwaukee

When it comes to insurance premiums, your age is a major factor. Young drivers pay the highest rates, but rates tend to decrease as you age.

Here are the cheapest companies in Milwaukee by age group and their corresponding rate.

Age Group Cheapest Company Average Rate
Teens First Chicago $283
20s Safeco $89
30s Safeco $98
40s First Chicago $141
50s First Chicago $125
60+ Safeco $81

Milwaukee teens pay higher rates on average — and even their cheapest option is still more than double the Wisconsin state average. Safeco is the right choice for younger adults, while middle-aged adults seeking cheap car insurance should consider First Chicago.

Teenagers and senior drivers are at opposite ends of the affordability spectrum — so which cheap coverage options are available to them?

Cheapest car insurance for Milwaukee teens: First Chicago

Teen drivers are by far the most expensive drivers to insure. Car insurance companies see teens as high-risk drivers, given their higher frequency of severe accidents.

But Milwaukee teens aren’t destined for unreasonable rates. First Chicago offers fairly affordable rates, with an average monthly premium of $283. Teens can lower the cost of car insurance when they earn good grades, which will qualify them for First Chicago’s good student discount.

Cheapest car insurance for Milwaukee seniors: Safeco

Senior drivers pay some of the lowest rates on average. Older drivers tend to commute less, which results in lower annual mileage. So, their rate of fatal accidents decreases, which may explain their lower rates.

Safeco is the most affordable option for seniors, at just $81 per month. This rate is less than half of Milwaukee’s average rate. And senior drivers can save even more when they go a length of time without an accident or enroll in RightTrack, which rewards drivers for safe habits and less nighttime driving.

Compare Milwaukee Auto Insurance Rates by Driving Record

Your driving record is another key rating factor. Drivers with at-fault accidents and speeding tickets on their record pay more on average.

The following table shows which companies offer the lowest average rates based on driving history.

Driving Record Cheapest Company Average Rate
Clean record Safeco $102
Speeding ticket Safeco $153
At-fault accident First Chicago $184

Once again, Safeco is the affordable choice, but its average rates rise by around 50% after you receive a speeding ticket. Drivers with at-fault accidents pay the highest average rates, though First Chicago’s rates for these drivers are still below the Milwaukee average.

Let’s break down the cheapest car insurance companies for drivers with a clean record, a speeding ticket, and an at-fault accident.

Cheapest car insurance for good drivers in Milwaukee: Safeco

Good drivers — defined as those with no accidents or tickets — pay the lowest rates. Safeco offers an average monthly rate of $102 for good drivers, which is nearly half the Milwaukee average.

Good drivers can save even more when they enroll in RightTrack, the company’s telematics program, which rewards safe habits during braking, accelerating, and nighttime driving.

Drivers can also receive a special bonus when they go six months without an accident, earning a check totaling 2.5% of their total premium (so up to 5% in a year). And the company’s diminishing deductible lowers your collision deductible each time you go a policy period without a claim.

Cheapest car insurance in Milwaukee after a ticket: Safeco

Car insurance rates go up by an average of 37% after you receive a ticket, according to Compare.com data. Fortunately, Safeco drivers with a ticket pay an average of $153 per month for car insurance, which is $50 below the Milwaukee average.

Drivers who install safety features in their car or enroll in a safe driving course can earn discounts from Safeco — which can offset the rate bump that might follow a speeding ticket.

Cheapest car insurance in Milwaukee after an accident: First Chicago

Your rates rise by 44% after an at-fault accident, according to Compare.com data. Drivers with an accident on their record will be relieved to learn First Chicago offers them an average rate of $184 per month — $19 below the Milwaukee average.

Costs add up after an accident. Luckily — on top of collision coverage — First Chicago offers car insurance products like rental car reimbursement and towing coverage to drivers who need support after an accident.


View Milwaukee’s Best Rates, Regardless of Driving Record


The Average Cost for Milwaukee Car Insurance

Highway in Milwaukee

Drivers in Milwaukee pay an average of $203 per month for car insurance. But keep in mind that this rate is just a benchmark — and that your specific driver profile will affect your car insurance costs.

Milwaukee’s rates are on the high end — but how do they compare to rates in other cities and regions?

Is car insurance more expensive in Milwaukee?

The table below shows how Milwaukee’s auto insurance rates compare to other cities in the area.

State Average Rates
Milwaukee $203
Kenosha $141
Madison $135
Rest of Wisconsin $137
Chicago $224
National average $211

Rates in Milwaukee are high compared to other Wisconsin cities like Madison and Kenosha, where rates are $135 and $141 per month, respectively. The rest of Wisconsin pays just $137 per month, on average.

“Just across Lake Michigan, drivers in Michigan face the highest rates in the country. Illinois to the south also has high rates. Luckily, Wisconsin’s varied marketplace gives consumers plenty of options,” says Franken. “This may explain the state’s lower rates.”

“That said, many factors affect rates. Repair costs, labor costs, and medical costs are just a few — and can vary by ZIP code,” Franken says. “If these costs skew higher in a city like Milwaukee, drivers in the city may face higher rates.”

Wisconsin Auto Insurance Requirements

Wisconsinites must have proof of insurance while on the road. Wisconsin requires drivers to purchase the following minimum insurance amounts:

The Wisconsin DMV’s official site offers more details about state-minimum insurance requirements.

Milwaukee Auto Insurance FAQs

Here are answers to some common questions about car insurance in Milwaukee.

How much is car insurance per month in Milwaukee, Wisconsin?

Drivers in Milwaukee pay an average of $203 per month for auto insurance.

What is the cheapest auto insurance company in Milwaukee?

Safeco is the cheapest auto insurance company in Milwaukee, offering drivers an average rate of $103 per month.

What factors affect car insurance in Milwaukee?

Milwaukee’s crime rate, property values, rate of litigation, and local repair costs all affect how much drivers pay. Your driver profile, including your choice of vehicle, driving history, credit, age, marital status, and more, will affect your rates.

How much car insurance is required in Wisconsin?

Wisconsin drivers must have $10,000 in property damage liability, $25,000 in bodily injury liability per person, and $50,000 in bodily injury liability per accident.

What happens if you get caught driving without insurance in Milwaukee?

Drivers caught without proof of insurance will receive a fine of up to $500, and drivers who present fraudulent car insurance will be fined up to $5,000.


Methodology

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance rates from more than 75 partner insurance providers in order to compile the quotes and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.

All the quotes listed in this article have been gathered from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide drivers with insight into how auto insurance companies determine their premiums.


Sources

  1. U.S. Census data, “Milwaukee vs. United States,” Accessed October 16, 2023.
  2. St. Louis Federal Reserve, “Mean Commuting Time for Workers (5-year estimate) in Milwaukee County, WI,” Accessed October 16, 2023.
  3. Insurance Information Institute, “Do auto insurance premiums go up after a claim?,” Accessed October 16, 2023.

J.D. Power, “2023 U.S. Auto Insurance Study,” Accessed October 16, 2

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