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Finding the best car insurance for your money in Milwaukee can feel like a tall task sometimes, but Bankrate’s here to help. Our team found that the average cost of car insurance in the city is $1,387 per year for full coverage and $460 per year for minimum coverage. We then analyzed rates from auto insurance companies in Milwaukee and compared the companies based on financial strength, customer satisfaction ratings, coverage options and more. We used this information to narrow down the top companies and highlight which ones offer the cheapest rates in different situations.
Best cheap car insurance companies in Milwaukee
Based on our analysis of average rate data from Quadrant Information Services, we found Travelers, Geico and USAA to be the top three cheapest car insurance providers in Milwaukee. From the information gathered on these companies — financial strength ratings, average rates, coverage availability, customer satisfaction ratings from J.D. Power and more — our team calculated a Bankrate Score for each company on a scale of 1 to 5. The higher a company’s score, the better it performed across these categories. Bankrate Scores can be used as an easy comparison tool to help shoppers more readily identify which car insurance companies might be best for them.
|Insurance company||Bankrate Score||J.D. Power score (North Central)||Average annual premium for full coverage||Average annual premium for minimum coverage|
*Not officially ranked with J.D. Power due to eligibility restrictions
Although Travelers is not quite available nationwide, it is in 42 states — including Wisconsin — and Washington, D.C. The company offers a broad range of coverage options for Milwaukee drivers. Because Travelers offers several add-ons such as new car replacement and accident forgiveness, customers may find it a good company for personalizing policies. The company also offers a robust list of discounts to help eligible drivers lower their rates.
Learn more: Travelers Insurance review
Geico offers a wide range of car insurance discounts, making it easy to save, and is available throughout the U.S. While Geico has a robust set of digital tools and mobile apps for policyholder convenience, the company offers fewer coverage options than some competitors. However, extras like its car-buying service through its partnership with TrueCar may add enough benefit for policyholders.
Learn more: Geico Insurance review
USAA stands out for its low average premiums and long list of discounts. The company gears its policies and services to the military community and is only available to eligible military members and their qualifying families. However, USAA may be an ideal insurer for those who are eligible. USAA is available nationwide and has unique offerings like savings for garaging a vehicle on base.
Learn more: USAA Insurance review
State Farm offers the full lineup of standard car insurance options, but also has several types of optional coverage and endorsements to consider, like car rental and travel expense coverage. State Farm maintains an extensive network of local agents and offers several other services for its members, like pet insurance, estate planning, investments and more. While State Farm does maintain a wide network of agents, it does not offer 24/7 customer service.
Learn more: State Farm Insurance review
Nationwide offers a robust array of coverage options on top of standard coverage options, and still comes in considerably below the citywide average. The company offers several useful policy options such as accident forgiveness and a vanishing deductible. Nationwide also partners with Hagerty to provide specialized auto insurance for classic cars.
Learn more: Nationwide Insurance review
Milwaukee insurance requirements
Wisconsin prescribes the following minimum car insurance requirements. Milwaukee is subject to the minimum liability coverage amounts which require every driver to maintain insurance for:
- $10,000 for property damage to third parties;
- $25,000 for the injury or death of one person; and
- $50,000 for the injury or death of more than one person
Additionally, automobile operators and owners must show proof of insurance when law enforcement requests at traffic stops or accidents. A motor vehicle without insurance can lead to fines up to $500.
Most drivers will determine that the above minimums, while satisfying the strict letter of the law, won’t adequately protect them and their families from the significant loss that can come from a serious accident. Therefore, it is important to work with several carriers to obtain and compare quotes for the best coverage to meet all of your needs.
How to get and keep the cheapest car insurance in Milwaukee
Although car insurance in Wisconsin, including Milwaukee, is cheaper than the national average, there are usually several strategies you can use to keep cheap rates. The tactics below are not the only way to save on premiums, but are some of the more accessible and impactful methods when looking for the cheapest car insurance in Milwaukee. The first focuses on how to find cheap car insurance, while the second piece of advice addresses how to keep these low rates.
- Shop around. Experts often recommend shopping around between several cheap car insurance companies to see which will offer you the most affordable rates on the coverage you want. It’s important to select the same types and limits of coverage on each quote for an apples-to-apples comparison. For a good starting point, consider our list of cheapest car insurance companies.
- Pursue discounts. After you have a policy, finding discounts that you are eligible for can help keep your rates low or reduce them even further. Most insurers offer various discounts, but they each have their own requirements and savings amounts. Common discounts include safe driving, bundled policies, safety devices and paid-in-full.
Frequently asked questions
We have highlighted here some of the best car insurance companies in Milwaukee for obtaining affordable and quality car insurance coverage. While these comparisons provide a starting place for your considerations, the best approach to finding the best car insurance policy is to research company websites, ask questions of company representatives and obtain several quotes to compare. You can then compare these to the average costs of car insurance to see if you’re receiving a competitive rate.
Like most states, Wisconsin requires drivers to carry at least the state-required minimum amounts of coverage of 25/50/10. The state also requires the same amounts of 25/50 for uninsured motorist bodily injury coverage. However, the minimum requirements for car insurance coverage set by Wisconsin law are likely insufficient to cover the cost of a more serious accident. Insurance professionals generally recommend purchasing higher limits to offer greater financial protection. Fortunately, there are several companies that could offer the coverage you need in Milwaukee for an affordable price.
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.These are sample rates and should only be used for comparative purposes.
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.