Average car insurance cost in Milwaukee, WI

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Based on an analysis by Insure.com, the typical car insurance expense in Milwaukee, Wisconsin is $2,013 annually. Furthermore, car insurance premiums in Milwaukee are $349 more than compared to the state average in Wisconsin and $118 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Milwaukee, the average car insurance rates by age and gender, and the costs in Milwaukee based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Milwaukee. Keep reading to learn more.

Cheap car insurance companies in Milwaukee

Travelers offers the cheapest car insurance in Milwaukee, at an average of $1,258 per year with full coverage limits of 100/300/100.

The second cheapest company in Milwaukee is Geico, offering car insurance rates at $1,553 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Milwaukee before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Milwaukee, Wisconsin:

Read about the best car insurance companies.

Average car insurance cost in Milwaukee by coverage limits

The average car insurance rates in Milwaukee by coverage type are as follows:

• State minimum coverage: $549 per year (limits of 25/50/25)
• Liability-only coverage: $654 per year (limits of 50/100/50)
• Full coverage: $2,013 per year (limits of 100/300/100)
• Non-owners coverage: $383 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Milwaukee

In Milwaukee, Wisconsin, the average annual car insurance premium for female drivers is $2,026 per year.

While the average annual cost for male drivers is $2,000 per year, which is $26 less than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Milwaukee

In Milwaukee, car insurance rates are the highest for teens, at $7,331 per year or $611 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $3,357 per year for their car insurance which is $3,974 less than what the teens pay for their insurance policy.

The car insurance rates in Milwaukee for adult and senior drivers are $2,014 and $2,050 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Milwaukee

Examining the trends in car insurance rates in Milwaukee, Wisconsin it was on an upward swing from 2022 to 2023. From 2022 to 2023 rates increase overall by $3.

The table below shows the trend for last four years:

Conclusion

In conclusion, Milwaukee’s car insurance rates are higher than the average insurance rates in Wisconsin. Drivers in Milwaukee can find affordable car insurance options by shopping around and taking advantage of available discounts. Moreover, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.