Car Insurance in Madison, WI
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Motoring Around the Mad City
Madison is the capital of Wisconsin and stands as the state's second-largest city with a population of over 270,000. This energetic city is the fastest-growing in the state thanks to a growing technology sector and the presence of major employers such as Google, Epic Systems, American Girl and the University of Wisconsin-Madison. Besides a vibrant economy, local attractions such as the State Capitol, the Lake Monona Loop and the Olbrich Botanical Gardens make the Mad City the place to be.
In a rapidly growing place like Madison, there are several vehicles on the road. As a motorist in Madison, you're exposed to the following local risks:
- Distracted driving: The number of deaths due to distracted driving is on the rise in Wisconsin. This includes anything that distracts you from driving, including texting and talking on the phone.
- Drunk driving: Wisconsin has some of the highest levels of driving under the influence of alcohol. The state is also known for having lenient laws regarding drunk driving.
- Snow and ice: Madison experiences long winters with snow and ice on the ground for several months each year. This can make driving conditions hazardous, especially for drivers who are not used to driving in winter weather.
According to the City of Madison, the number of collisions involving fatalities is trending upward. In 2020, the estimated economic impact of all auto accidents totaled over $92 million. Even though there is public transit available, it is limited to buses that also share the roads with other vehicles. Having car insurance in Madison, WI, can protect you from financial ruin following a car crash.
Carrying Auto Coverage
As a Madisonian, your insurance plan must meet these minimums :
- $10,000 for property damage
- $25,000 for the injury or death of one person
- $50,000 for the injury or death of more than one person
Imagine getting into a car accident in which one or more cars are totaled. VIU by HUB can help you explore plans that go well beyond the state's minimum requirements. Consider these coverages:
- Collision: Pays for damage to your car regardless of who is responsible
- Comprehensive: Covers losses due to theft, vandalism, fire and natural disasters
- Uninsured/Underinsured Motorist: Useful for covering losses in an accident with a driver who has no coverage or too little coverage
When it comes to car insurance in Madison, WI, it's strongly recommended that you find a plan that provides enough coverage for you and other drivers in your household, as applicable.
Analyzing Your Car Insurance Options
In Madison, you can expect to pay around $1,150 annually for coverage, which is lower than the state and national averages, clocking in at around $1,181 and $1,548, respectively. Several factors will influence your premium:
- Age: Teen drivers pay significantly more for coverage. Rates lower as you age.
- Marital status: Married motorists tend to pay less than single ones.
- Gender: Male drivers pay higher rates based on statistical data for accidents.
- Driving record: Past speeding tickets, accidents and other moving violations will result in higher premiums.
- Credit history: Most insurers correlate creditworthiness with reliability. Drivers with higher credit scores are charged less for coverage.
Many drivers qualify for discounts that can lower their premiums, including driving a new car, being in the military and also having multiple policies with the same insurer. VIU by HUB is here to help you find a policy for car insurance in Madison, WI, that truly works for you.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
Sources
City of Madison Traffic Engineering Division