Milwaukee might be a heavily populated metropolitan area, but there is still plenty of affordable car insurance if you know how to find it. As always, getting cheap car insurance in Milwaukee, Wisconsin depends on the insurance company and coverages you choose, but what other factors must you consider to avoid overspending?
Let’s dive in and see which insurance companies offer the cheapest average car insurance in Milwaukee. Let’s also look at the best car insurance, minimum required car insurance, and average car insurance premiums in Milwaukee so that you can get out on the open road.
Cheap Car Insurance in Milwaukee, Wisconsin
Cheap car insurance doesn’t always mean the same thing for different individuals, but for the sake of simplicity, let’s only consider rates in Milwaukee, according to Carinsurnace.com. The following rates are based on a driver profile of a 30-year-old person with a clean driving record and good credit. These rates are also broken down per insurance company and three different levels of coverage.
- Liability only — state minimum BI/PD:
- Geico Casualty Co: $276
- Erie Ins Exchange: $415
- Owners Ins Co: $418
- State Farm Multi Automobile Ins: $426
- Standard Fire Ins Co: $509
- Artisan & Truckers Casualty Co: $560
- American Family Ins Co: $578
- Auto Club Group Ins Co: $655
- Mid-Century Ins Co: $690
- Allstate P & C Ins Co: $771
- Alpha P & C Ins Co: $903
- Metropolitan P & C Ins Co: $1,706
- Liability only coverage — 50/100/50 BI/PD:
- Geico Casualty Co: $326
- Erie Ins Exchange: $464
- Owners Ins Co: $481
- State Farm Multi Automobile Ins: $496
- Standard Fire Ins Co: $566
- Artisan & Truckers Casualty Co: $686
- American Family Ins Co: $609
- Nationwide General Ins Co: $603
- Auto Club Group Ins Co: $724
- Mid-Century Ins Co: $850
- Allstate P & C Ins Co: $827
- Alpha P & C Ins Co: $1,127
- Metropolitan P & C Ins Co: $1,849
- Full coverage insurance — 100/300/100 BI/PD — 500 Comp/Coll:
- Geico Casualty Co: $985
- Erie Ins Exchange: $1,694
- Owners Ins Co: $1,444
- State Farm Multi Automobile Ins: $1,396
- Standard Fire Ins Co: $1,111
- Artisan & Truckers Casualty Co: $2,246
- American Family Ins Co: $1,105
- Nationwide General Ins Co: $1,235
- Auto Club Group Ins Co: $2,366
- Mid-Century Ins Co: $2,143
- Allstate P & C Ins Co: $2,206
- Alpha P & C Ins Co: $3,436
- Metropolitan P & C Ins Co: $5,072
These are considered the cheapest yearly car insurance rates in the Milwaukee area. But, of course, the meaning of cheap is subjective, and some of these prices may not be what you would expect to find on such a list. Remember that the most affordable car insurance may not be the best.
Best Car Insurance in Milwaukee, Wisconsin
The best car insurance may not be the cheap car insurance in Milwaukee, Wisconsin, you are searching for. But the definition of “best” will vary from person to person, depending on what you value most when it comes to car insurance. For example, some people value customer service, ease of the claims process, or the lowest rates. According to Carinsurance.com, the following insurance companies are considered the best in Milwaukee based on survey data from current policyholders. Each company and what they’re best at include:
- Travelers: claims services
- Esurance: value/price
- Esurance: overall customer service
- Travelers: website/apps
- Esurance: most recommend
- State Farm Mutual Auto: low annual mileage
- Mid-Century Ins Co: good student
- AMCO Insurance: bundle
- Allstate P & C: paid in full
Minimum Required Car Insurance in Milwaukee, Wisconsin
Though the minimum required insurance coverages may result in cheap car insurance in Milwaukee, Wisconsin, it may not be the best decision. Wisconsin state laws for car insurance require that you be insured against property damage liability and bodily injury. Any additional car insurance policies that cover yourself, your vehicle, and your passengers are your choice.
Having collision coverage and comprehensive insurance is a good idea if you drive a newer vehicle. According to Carinsurance.com, the average cost in Wisconsin for collision is $930 and $272 for comprehensive. These types of coverages have typical deductibles requiring you to pay out $250, $500, or $1,000 upfront before your insurance company pays out. You will be able to choose your deductible amount, and the higher the deductible, the lower the rate.
If you are underinsured and at fault in an automotive accident, your assets, such as your savings or home, could fall into jeopardy. In order to protect these assets, it is highly recommended that you have specific liability insurance amounts:
- $1,000,000 to cover others’ medical bills.
- $3,000,000 to cover others’ injuries in an accident where you are at fault.
- $1,000,000 to cover damage to others’ property.
You will also benefit from considering the following optional coverages:
- Collision: pays for damage your car sustains from accidents
- Comprehensive: covers damage from events such as fire, vandalism, floods, and hail, and replaces stolen cars
Average Car Insurance Rates in Milwaukee, Wisconsin
On average, Milwaukee drivers will pay $623 per year for the minimum required coverages. For $79 more per year, you could increase coverage to 50/100/50. For full coverage or 100/300/100, you will need to pay an additional $1,315 per year. These averages are:
- Minimum required coverage: $623 per year
- Increased coverage 50/100/50: $702 per year
- Full coverage 100/300/100: $1,938 per year
Other Primary Factors Affecting Car Insurance Costs
There are many factors that contribute to insurance rates. A few of these factors include:
- Driving history
- Credit score
- Years of driving experience
- Insurance history
- Annual mileage
- Marital status
- Claims history
- Coverage levels
- Vehicle ownership status
- Discount options
- Insurance company
Car insurance is tricky to navigate, and what is best for one person may not be best for you and your insurance needs. When you consider all of these factors, your car insurance rates will be unique to you, and it can be hard to compare to how much others pay. So let our FIXD experts help you find the best car insurance savings.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.