Wisconsin Auto Insurance Buying Tips You Aren’t Supposed to Know

An important part of buying insurance is that you know some of the elements that help determine auto insurance rates. Understanding what determines base rates empowers consumers to make smart changes that could result in much lower annual insurance costs.

The following are a few of the “ingredients” used by your company to calculate premiums.

• More than one policy can earn a discount – Many companies will award you with lower prices to people who have multiple policies with them. It’s known as a multi-policy discount. This can amount to anywhere from five to ten percent in most cases. If you currently are using one company, it’s in your best interest to compare rates to verify if the discount is saving money. You may still find a better deal by buying auto insurance from a different company.
• Never let your coverage lapse – Having an insurance coverage lapse will be a fast way to trigger a rate increase. Not only will rates go up, but being ticketed for driving with no insurance may earn you a steep fine or even jail time.
• Do you work long hours in a high stress job? – Did you know your auto insurance rates can be affected by your occupation? Occupations such as lawyers, architects and accountants have higher rates than average in part from job stress and long work days. On the flip side, occupations like actors, athletes and performers get better rates.
• Males pay more for insurance – Statistics demonstrate that men are more aggressive behind the wheel. However, this does not mean women are BETTER drivers than men. Both sexes have accidents in similar percentages, but the male of the species have costlier accidents. Men also tend to get cited for more serious violations like reckless driving and DUI. Male drivers age 16 to 19 tend to get in the most accidents and therefore have the most expensive auto insurance rates.
• Do you know your deductibles? – Your deductibles represent how much money you are required to spend before a claim is paid by your company. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. A few examples of covered claims are colliding with a building, damage caused by hail, and rolling your vehicle. The higher the amount you have to pay, the less your auto insurance will be.
• More people means more accidents – Choosing to live in small towns and rural areas is a positive aspect when buying auto insurance. Lower population means a lower chance of having an accident. Drivers in populated Wisconsin areas tend to have more traffic problems and a longer drive to work. Longer commute distances means higher likelihood of an accident.
• Careful drivers pay lower rates – Whether or not you get tickets impacts your car insurance rates tremendously. Only having one moving violation can bump up the cost by as much as thirty percent. Drivers who don’t get tickets tend to pay less for car insurance compared to drivers with tickets. Drivers with flagrant tickets like DUI or reckless driving are required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to keep their license.
• Lower rates with optional equipment – Choosing a vehicle with anti-theft technology or alarm system can save you a little every year. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your car from being stolen.

Scraping up a payment for steep insurance is no better than burning money and you undoubtedbly pay it without knowing why the price is so inflated. Some auto insurance companies in Wisconsin will make you pay high prices, and if you don’t periodically compare rates, you’re pouring money down the drain every month.

There are several ways to compare auto insurance prices but there is one way that is easier and takes less work. You can spend countless hours talking to insurance agencies in your area, or you can stay home and use online quotes to get the quickest rates.

All the larger companies enroll in a system that allows shoppers to enter their policy data once, and each participating company can give them a price determined by their information. This eliminates the need for multiple quote forms to each indivdual auto insurance company.

To participate in this free quote system, click to open in new window.

The one downside to pricing coverage this way is that consumers can’t choose the providers to receive prices from. If you would rather choose from a list of companies to request quotes from, we have a listing of the cheapest auto insurance companies in Wisconsin. Click to view list.

However you get your quotes, make sure you use the exact same coverage information for each comparison quote. If you are comparing different liability limits you can’t possibly determine the best price.

Discounts are basically free money

The price of auto insurance can be rather high, but you may find discounts to reduce the price significantly. Certain discounts will be triggered automatically when you purchase, but less common discounts must be specially asked for before being credited. If they aren’t giving you every credit possible, you’re paying more than you need to.

• Paperless Signup – A few companies give back up to $50 simply for signing on their website.
• Fewer Miles Equal More Savings – Fewer annual miles can earn lower rates on the low mileage vehicles.
• Drive Safe and Save – Safe drivers can get discounts for up to 45% lower rates than drivers with accidents.
• Anti-lock Brake Discount – Anti-lock brake equipped vehicles can reduce accidents and will save you 10% or more.
• Auto/Home Discount – When you combine your home and auto insurance with one company you may save at least 10% off all policies.
• Discount for Life Insurance – Larger companies have lower rates if you buy life insurance.
• Memberships – Affiliation with certain professional organizations could qualify you for a break when buying auto insurance.

As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So when it seems like it’s possible to get free car insurance, you’re out of luck. Any qualifying discounts will cut the amount you have to pay.

Additional auto insurance information can be found on the Wisconsin Office of the Commissioner of Insurance website. Click here for link. Wisconsin drivers can find out industry alerts, report car insurance fraud, view a list of available companies, and find disaster information.

Smart shoppers get results

Consumers change insurance companies for any number of reasons including high rates after DUI convictions, poor customer service, extreme rates for teen drivers or not issuing a premium refund. It doesn’t matter what your reason, finding the right auto insurance provider is less work than it seems.

You just learned a lot of ways to get a better price on . The most important thing to understand is the more rate quotes you have, the better your chances of lowering your rates. Consumers could even find that the lowest priced auto insurance comes from some of the lesser-known companies.

Cheap auto insurance can be purchased on the web as well as from independent agents in Wisconsin, so you should be comparing quotes from both in order to have the best prices to choose from. Local independent agents are able to place your coverage with regional insurance providers that don’t always offer the ability to get a quote online.