BestCar InsuranceMadisonThe Best Car Insurance in Madison, WI, for 2023
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Ensure you're getting the best rate. Review quotes from a top insurance company.
While Erie is the best car insurance company in Madison overall, there may be better options for you, depending on your age and background. To cater to different drivers, MoneyGeek examined the best insurers for young and older drivers, drivers with violations and those in the military. MoneyGeek also ranked the cheapest car insurance providers in Madison if you are looking for more affordable options.
BestCar InsuranceMadisonThe Best Car Insurance in Madison
Overall - Erie
Minimum Coverage - Erie
Young Drivers - Erie
Senior Drivers - Erie
Driving Violations - Erie
Military - USAA
Best Car Insurance Companies in Madison: Overall
MoneyGeek identified Madison's best car insurance providers based on their average rates, claims ratings and user satisfaction. Using these factors, the top two companies in the city are:
- Erie: 85 out of 100
- GEICO: 84 out of 100
This analysis excludes USAA, whose policies are only available for military families. Using the same factors, USAA earned a score of 100 out of 100, making it the best auto insurance in Madison for military families.
The Top Car Insurance Companies in Madison
1
ErieOverall
Score:85
Erie ranks as the best auto insurance provider in Madison, earning first place in customer satisfaction and charging an average of $577 per year for a 40-year-old driver. Policyholders can enjoy a wide range of unique coverages, such as better car replacement.
More About Erie
Aside from having a high customer satisfaction score, Erie also offers unique coverage options for policyholders. One notable offer is their better car replacement coverage, which replaces your totaled car with the latest year model if your car was less than two years old. For drivers with a car older than two years, you can get a model that is two years newer. This benefits drivers who just recently purchased a new car.
Read MoneyGeek's Erie auto Insurance Review2
GEICO
Score:84
The second-best auto insurer in Madison is GEICO, ranking first in affordability and financial stability. The company charges an average of $426 per year for a policy.
More About GEICO
GEICO earns high scores in both affordability and financial stability, making them a top choice for drivers who want a reliable provider where they can save. The company offers mechanical breakdown as an add-on coverage, not often found with other providers. It gives you better coverage for parts and systems and is cheaper than extending the warranty at most dealers. However, it’s only available for new or leased cars less than 15 months old and with less than 15,000 miles.
Read MoneyGeek's GEICO auto Insurance ReviewRESOURCES ON CAR INSURANCE IN MADISON, WISCONSIN
To help drivers looking to maximize savings, MoneyGeek reviewed Madison's cheapest auto insurance companies. MoneyGeek provides the following resources to help you learn more about car insurance in Wisconsin:
Best Cheap Car Insurance for Minimum Coverage in Madison
Drivers in Madison must have the minimum insurance required by Wisconsin.
According to MoneyGeek’s data, the best car insurance companies in Madison for minimum coverage are:
- Erie: 86 out of 100
- GEICO: 83 out of 100
MoneyGeek evaluated and scored car insurance companies in Madison based on different driver backgrounds, including younger and older drivers and drivers with violations.
MoneyGeek’s Pick: Erie
pros
Charges an average of $254 per year for a minimum coverage policy
Discounts for bundling, anti-theft systems and being a young safe driver
MoneyGeek satisfaction score of 5 out of 5
MoneyGeek claims rating of 4.5 out of 5
cons
Does not offer discounts for being a good student, going paperless, or defensive driving
COMPANY HIGHLIGHTS
Erie earns high scores in customer satisfaction, claims and financial stability — making the insurer a great choice for drivers who want affordability and quality service. The company offers a number of easy-to-get discounts, including discounts for bundling, driver’s education course for young drivers and paying in full.
Aside from common discounts, Erie also offers unique discounts. For instance, Erie grants unmarried drivers under 21 who still live with their parents a discount. They also offer an anti-lock brake discount, which is unique as most providers only grant discounts for airbags and anti-theft systems.
Best Car Insurance for Young Drivers in Madison
To cater to different backgrounds, MoneyGeek examined the best car insurance companies in Madison using a young driver profile.
Our score is based on a blend of different policy coverages and driving histories for 18-year-old drivers in Madison, in addition to a balance of affordability, financial stability and customer satisfaction. The top-rated car insurance companies in Madison for young drivers are:
- Erie: 94 out of 100
- American Family: 85 out of 100
Typically, auto insurance for teens is more expensive, given that their risk profile is high. The same can be said for student drivers looking for car insurance, as they are viewed to be inexperienced and are more likely to get into an accident.
MoneyGeek’s Pick: Erie
pros
Full coverage policy for a safe young driver costs an average of $1,326 per year
Discounts for distant students, drivers education for those under 21 and young safe drivers
MoneyGeek satisfaction score of 5 out of 5
MoneyGeek claims rating of 4.5 out of 5
cons
Does not offer a discount for being a good student
COMPANY HIGHLIGHTS
Adding a young driver to your auto insurance policy will certainly make it more expensive, but Erie offers the most affordable option in Madison. By choosing a company with an excellent reputation, young, inexperienced drivers and their parents know that they'll receive great service if they have to file a claim.
Erie also has discounts that can help make policies more affordable, even if you have a young driver added. For instance, Erie offers discounts to parents whose children are away at college and have no car. If a driver is under 21, taking an accredited driver training course can also get you a discount.
Best Car Insurance for Senior Drivers in Madison
Using only a sample profile of senior drivers, MoneyGeek identified the best auto insurance companies in Madison for older individuals. The best in the city include:
- Erie: 86 out of 100
- State Farm: 85 out of 100
MoneyGeek's scores are generated from different insurance coverages and driving histories of 70-year-old drivers. Car insurance for senior drivers tends to be more expensive compared to middle-aged drivers.
MoneyGeek’s Pick: Erie
pros
Rates average $606 per year for safe senior drivers
MoneyGeek satisfaction score of 5 out of 5
MoneyGeek claims rating of 4.5 out of 5
cons
Does not offer defensive driving or senior discounts
COMPANY HIGHLIGHTS
Auto insurance for seniors is no different from your typical policy, but due to age, it may be more expensive. For senior drivers in Madison, however, Erie has a good balance of customer service and affordability.
Beyond being affordable, Erie also has a lot of common coverages to supplement a policy. These include rental car or travel reimbursement coverage, accident forgiveness and new or better car replacement coverage. Their better car coverage, in particular, is rare. It would replace a totaled car with the latest year model if the totaled car is less than two years old. Seniors with newer cars can benefit most from this coverage, as it pays for the cost to get a model with a better security system.
Best Car Insurance With a Driving Violation in Madison
Auto insurance for drivers with bad driving records can be costly, so MoneyGeek evaluated the best insurers in Madison for those with driving violations.
Based on a blend of different policy coverages and different driver ages, the best car insurance in Madison for those with at-fault accidents on their records are:
- Erie: 91 out of 100
- State Farm: 86 out of 100
MoneyGeek’s Pick: Erie
pros
Affordable full coverage policy for 40-year-old drivers with an accident on their record at an average of $713 per year
Offers both Better Car Replacement and New Car Replacement coverage
MoneyGeek satisfaction score of 5 out of 5
MoneyGeek claims rating of 4.5 out of 5
cons
Offers only four out of the nine common discounts
COMPANY HIGHLIGHTS
Having an accident on your record can make auto insurance more expensive, which is why it’s important to find a company that can still offer affordable coverage and great service. Erie fits the bill for drivers in Madison, offering the cheapest policies and best service.
Erie policyholders can benefit from the company’s better car replacement coverage, which can pay for the cost of the latest year model if the car you total is less than two years old. If you have an older car, the insurer’s new car replacement coverage can help you get a car two years newer.
To make policies more affordable, Erie gives discounts for installing airbags, anti-lock brakes and anti-theft systems. Paying in full and bundling are other ways to save.
Best Car Insurance With a Military Background in Madison
USAA is the best auto insurance company for military members in Madison. Offering an excellent balance between affordability and excellent customer service, the company earns a MoneyGeek score of 100 out of 100.
However, USAA only offers its policies to active-duty military members, veterans and eligible family members. Those not in or not related to someone in the military cannot purchase a policy from USAA.
MoneyGeek’s scores for USAA are based on a blend of different driver backgrounds and coverage levels, taking into account both younger and older drivers and those with violations.
MoneyGeek’s Pick: USAA
pros
An affordable full coverage policy costs an average of $381 per year for a 40-year-old driver
USAA offers five of the most common discounts including safe driving
MoneyGeek satisfaction score of 5 out of 5
MoneyGeek claims rating of 5 out of 5
cons
Only offers 3 out of 7 common coverages, missing coverages such as new car replacement and gap insurance
Only available for military members and their eligible family members
COMPANY HIGHLIGHTS
USAA is renowned for its discounted policies, offering affordable auto insurance across the country for military members.
Policyholders can increase their protection with common coverages such as roadside assistance, rental car or travel reimbursement and accident forgiveness. However, USAA lacks many other add-on coverage options typically offered by most insurers.
To make their affordable policies even cheaper, drivers can also qualify for discounts. For instance, the insurer offers bundling, good student, multiple-car, safe driving and defensive driving discounts. USAA also offers a few rare discounts, such as vehicle storage, which can give you a discount up to 60% if you store your insured car when you’re deployed.
Methodology
In order to identify the best auto insurance companies in Madison, Wisconsin, MoneyGeek analyzed ratings from industry leaders like J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC).
Based on a specific driver profile, MoneyGeek determined which company had the highest MoneyGeek score, considering cost differences and quality of service differences. Different weightings are applied to various driver categories later on.
MoneyGeek scores are based on the following weightings:
- General customer and claims satisfaction (20%): MoneyGeek graded Madison insurers on a scale of one to five using J.D. Power customer and claims satisfaction surveys, each worth 10%.
- Affordability (70%): MoneyGeek rated each Madison company's affordability based on a five-point scale, with five being the most affordable. In order to calculate the overall affordability score, a combination of factors are considered, such as age, driving record and insurance coverage levels.
- Financial stability (10%): MoneyGeek used AM Best's financial strength ratings to determine an insurer's ability to pay claims during tough economic conditions.
MoneyGeek also used the following limits when analyzing a full coverage policy:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability
- Comprehensive and collision coverage with a $1,000 deductible
MoneyGeek collected insurance quotes for a 40-year-old male in Madison who drives a Toyota Camry and has a clean driving record. Quadrant Information Services provided average quotes for full coverage policies. To learn more about how MoneyGeek collects and analyzes data, review our auto insurance methodology.
About Mark Fitzpatrick
