Purchasing Auto Insurance in Madison Wisconsin will bring up a lot of questions. i.e., how to find the cheapest rates, who provides it, what do you have to do to purchase it, etc. Madison Wisconsin has its own requirements regulated by legislation, but every company that offers auto insurance should know these requirements. If not, this information is readily available to everyone through the state’s Department of Insurance or the Department of Motor Vehicles.
Knowing the requirements can prevent future punishment for not carrying the right amount of insurance, and it can also help you configure the type of automobile insurance policy you purchase. Further information on Madison Wisconsin liability car insurance can be found below as we discuss the current requirements and other options each driver is given.
Why do you need Auto Insurance in Wisconsin?
Don’t drive without proper insurance. There are some grave consequences in Madison Wisconsin for failing to have auto insurance which can result in possible tickets, fines, suspension of license or vehicle, and even possible jail time. The consequences aren’t worth the risk. Even if you think you’re driving safely, you can’t account for the same level of caution from other drivers on the road.
Minimum Liability Coverage
The state auto insurance minimums are generally listed in that order separated by slashes or commas. For example, automobile liability insurance coverage of 15/30/5 would cover fifteen thousand dollars for bodily injuries for one person (based on the first number 15 that is listed). The middle number of 30 would cover thirty thousand dollars for bodily injuries for all persons within one accident, and the last number of 5 will cover the cost of any property damages that may have been caused by the accident. State minimums range from 10/20/10, like Wisconsin, and up to 50/110/25 for Alaska and Maine.
Note that this coverage is by law the minimum you can carry, but you are permitted to carry as much as the insurance company will allow. In the event of a car accident where you are the driver at-fault, this money goes towards the expenses to repair the other vehicle and also goes towards medical expenses of the driver and any passengers of the vehicle that may be involved. You will see the significance of carrying only the minimum amounts as you read further. It is best to understand the definition of the required coverage so you know what is expected of you as a driver in Wisconsin:
Required Coverage in Wisconsin:
- For bodily injury to 1 person: At least $25,000.
- For all bodily injuries: At least $50,000.
- For property damage: At least $10,000.
- Proof of Insurance is required or not:
- At the time of registration: Not required.
- At the time of accidents: Not required.
- At all times while in a vehicle: Not required.
- Additional Information
- State Type: Add-on state.
- Uninsured Motorist Coverage: Required
Penalties: License and or registration revocation. Penalties are provided for in the law but may not be mandatory for first offenses.
Check your policy or talk to your agent or broker to make sure you have sufficient liability insurance coverage for each vehicle you own.
Car Insurance & Your Bank Car Loan
In addition to carrying the state minimum insurance requirements, banks and lenders will require you to carry collision and comprehensive insurance if you borrow money to buy a new or used car. They require these policies to protect their collateral; this is the car you are driving.
The addition of collision and comprehensive along with the mandated state minimums is considered ‘full coverage’, a term used in the insurance industry.
Do You Need More Than Minimum Coverage?
There are other types of coverage you can purchase for your policy that will give you more financial protection when involved in an accident or other property damage involving your vehicle. Some of them to consider are comprehensive, collision, and personal injury protection. In addition to other coverage, these provide a variety of means to keep you protected from being forced to pay for damages out-of-pocket.
Uninsured Motorists – (UM)
You can also get Uninsured/Underinsured Motorist Bodily Injury coverage to cover bodily injury caused by an uninsured and/or underinsured driver (depending on the state). Wisconsin does not require drivers to purchase this coverage, but you should consider purchasing this valuable coverage.
Adding more vehicle coverage often costs very little extra and provides much more protection. Sooner or later just about everyone is involved in some kind of automobile accident — so make sure that your car is adequately covered.
Getting Your Coverage Online
At GoodtoGoInsurance you can receive up to 8 car insurance quotes within minutes. This means that you have time to consider more than just the lowest-cost minimum policy. So how can this help you in this process? Insurance websites’ goal is to connect drivers looking for auto insurance with the best companies that offer it.
Companies like Good to Go Insurance work with several different insurance companies so they can offer a comprehensive comparison of various rates and prices. Getting a no money down car insurance policy can be as easy as providing your zip code and filling out a few questions. Don’t worry, these questions do NOT include personal identification such as your driver’s license or social security, just the necessary information to give the companies providing quotes an idea of who the driver is and the level of risk so that you can receive an accurate quote.
The auto insurance companies need to get a good idea of who they’re insuring so that they can give an accurate quote. Only if you decide to accept a quote and start a policy will your license and social security be required. Requesting a quote does NOT put you under any obligation to continue. The quotes are 100% free. You pay nothing to us or the insurance companies for the quote so they’re absolutely no risk.
Answering all your car insurance questions
Reputable insurance websites provide tons of tips, suggestions, and explanations. We hope that people both new and experienced in the auto insurance world will find informative and useful articles to provide a more complete understanding of how the system works. Additional information on the Young America Insurance website can offer more tips about how to buy now and pay later auto insurance in Wisconsin and keep your policy prices as low as possible. Let them help you find the right insurer and policy for you. Services are free of charge and there is no limit on how often you use them. Click here for your free auto insurance quote now.