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Wisconsin Auto Insurance Quotes

If you wish to obtain information on auto insurance in Wisconsin, the coverage that is offered and the auto insurance deals, then you are in the right place. Prior to purchasing these auto insurance policies it is important to take some time in understanding the various components in auto insurance and the requirements as per the laws of the state of Wisconsin. Here, you will find information on the type of coverage that is necessary and the coverage that is optional. Ideally, you should have a list of what you need in your policy depending on your individual circumstances. Once you have understood the various components in auto insurance, you can request for online quotes from various insurance providers who have the authorization to sell policies in the state of Wisconsin.

According to a study conducted by the National Association of Insurance Commissioners or NAIC, Wisconsin has the lowest auto insurance rates in the country. Wisconsin has ranked fifth based on the average auto insurance premium costs.

Wisconsin Financial Responsibility Requirements

Wisconsin requires all motorists to prove financial responsibility by purchasing liability insurance or by placing a cash deposit of $60,000 or filing a bond with the Department of Transportation.  Most drivers choose to purchase liability insurance since it is easier and less expensive than paying a cash deposit or filing a bond.  When liability insurance is purchased, drivers must carry minimum coverage for bodily injuries and property damage.  For bodily injuries for one person in one accident, the minimum amount of coverage required is $25,000.  All bodily injuries in one accident must be covered by a minimum of $50,000 in liability insurance.  Property damage must be covered by a minimum of $10,000 in property damage. 

Uninsured Motorist Coverage

Wisconsin also requires that motorists carry uninsured motorist coverage on all registered vehicles.  If you get into an accident with a driver who does not carry the required liability insurance, this coverage can pay your medical expenses.  Because Wisconsin uses the tort system for determining financial responsibility following an accident, you may also be able to sue an uninsured driver in civil court in order to recover damages for your injuries.

If the person who is at fault for causing the accident is uninsured then the Uninsured Motorist Bodily Injury will provide coverage and the damages that are incurred such as medical treatment as well as lost wages etc., will be covered up to the available limit.

However, if your medical expenses far exceed the at-fault party's liability limits, then you may use the Underinsured Motorist Bodily Injury coverage and pay for the amount that is not covered by the at-fault driver's insurance. The Underinsured Motorist coverage is also similar to the Uninsured Motorist Coverage and is designed to bridge the gap between the opposite party's liability limits as well as the expenses that you would have incurred on your injury, up to the Underinsured limits that you have selected.

Bodily Injury Liability Cover

This is a coverage that will not protect you or your vehicle directly. However, if you have caused the accident and injured other people, then you will get protection against their claims up to the amounts stated in terms of medical expenses, loss in wages, pain and suffering, as well as other losses. This will also take cover the losses if it was caused by some member of the family who is residing with you or someone who has used your car after obtaining your consent.

Property Damage Liability Cover

This cover will usually pay for damage to property up to the stated amount. For example, if you have caused a crushed fender, broken glass, or damaged fence etc., then the insurer will pay for it if you were driving or if someone was driving with your consent.

Wisconsin Proof of Insurance

In order to prove that you have valid insurance, you must file an SR-22 form with your insurance carrier.  Your insurance carrier will then provide proof of insurance to the state DOT through the mail or via electronic communication.  The company may also provide you with a copy of the completed document to give to a Department of Transportation.

Penalties for Failure to Maintain Coverage

If you get into an accident and have no proof of insurance, your license and registration may be suspended.  Reinstatement fees are $50 for your driver's license and $60 for your vehicle registration.  You may also have to comply with safety responsibility options and complete a registration reinstatement form.

Factors That Affect Auto Insurance Rates

There are a number of factors that affect auto insurance rates and although you may be aware of a few of them, it is unlikely that you will know all of them. Age is the most important factor and it has a bearing on your auto insurance premiums and it is something that cannot be changed. Young drivers who are below 25 years of age will generally have to pay higher premiums when compared to individuals who are between 50 and 65 years of age because they belong to the high-risk group.

Even the gender makes a lot of difference while calculating premiums. Women are charged lesser premiums as they are supposed to be better drivers and cause fewer accidents than men. The marital status of a person is also taken into consideration. Married people are considered to be far more responsible and hence end up paying lesser premiums than those who are single.

One of the most important factors that affect your premium would be your driving record. If you have an impeccable driving record, you can get substantial discounts. The area where you live will also make a difference in the premium. If you live in the suburbs, your premiums would be far less when compared to the premiums that city dwellers have to pay.