Wisconsin Auto Insurance

The state of Wisconsin you must be able to prove you are financially responsible for damages and injuries incurred in an accident.  You are not required to carry uninsured and underinsured coverage or the mandatory liability auto insurance demanded by the state.  Underinsured and uninsured coverage is not mandatory in the state of Wisconsin but it your insurance agent may strongly recommend that you carry the coverage.  The level of coverage suggested is $50,000.00 per person and $100,000.00 per accident.  If you decide to forego this option, the insurance company is required to provide a signed declaration page stating that you chose not to take the underinsured and uninsured coverage.

You or your insurance company may exclude members of your household from coverage on your insurance policy.  If the individual is not listed on your policy, the insurance company does not have to provide coverage for that person or any accident that individual is involved in.  Any exclusion will be listed in the section of your policy titled exclusions.  This section also covers any and all circumstances which would allow the insurance company to deny a claim.  If your policy lapses or cancels your insurance company will notify the DMV.  In turn, the DMV will give you a certain amount of time to produce proof of financial responsibility.  If you fail to meet this deadline your driver’s license and registration may be suspended. 

Wisconsin insurance companies can use your credit history to accept applicants, set insurance rates, and determine which services they will provide.  It can also be used to set your insurance risk score and determine your payment options.  However, many other factors are used to determine your rates such as the age of the drivers on the policy, the car you drive, driving record, where you live and your marital status.  Since Wisconsin is a Torte state, any individual who is found to be at fault in an accident can be sued for pain, suffering, lost wages, and medical expenses.  For this reason, insurance companies advise policy holders to buy more than the minimum liability auto insurance.  The average insurance premium in Wisconsin as of 2006 is approximately $590.00 and the state is ranked as the 45th most expensive state for insurance premiums in the nation.

There are 17 officially accepted insurance companies listed in Wisconsin.  They include Acuity Mutual Insurance Company, Allstate Property & Casualty, American Family Mutual Insurance Company, Badger Mutual Insurance Company, Country Preferred Insurance Company, Dairyland Insurance Company, Farmers Insurance Exchange, General Casualty Company of Wisconsin, Progressive Classic Insurance Company, Rural Mutual Insurance Company, Secura Mutual Insurance Company, Sentry Mutual Insurance Company, State Auto Insurance Company, State Farm Mutual Automobile Insurance Company, United Services Auto Association, West Bend Mutual Insurance Company, and Wisconsin Mutual Insurance Company.

One of the methods you can use to reduce the cost of your auto insurance premiums is to purchase more than one type of insurance policy with the same company.  You will also get discounts for a clean driving record and possibly for renewing you policy with the same company repeatedly.  Making sure you insurance never lapses will sometimes reduce your premiums as well as belonging to a particular professional group such as engineers, teachers, or doctors.  Younger drivers can get discounts for maintaining good grades, and completing a driver safety course approved by the state.  Insuring multiple vehicles will also reduce your premiums.  Anti theft devices and safety mechanisms such as airbags and seat belts will contribute to the reduction of your auto insurance premiums.  It may also be useful to know which cars are frequently targeted by thieves.  The list of the top ten most often stolen cars in the state of Wisconsin are listed below.

1. 1998 Oldsmobile Cutlass
2. 1995 Honda Civic
3. 1990 Toyota Camry
4. 1990 Buick LeSabre
5. 1990 Honda Accord
6. 1990 Buick Century
7. 1990 Oldsmobile Delta 88
8. 1999 Pontiac Grand Am
9. 1993 Chevrolet Cavalier
10. 1996 Ford Taurus