Mandatory Car Insurance in Wisconsin Starts Today
Effective today, all motorists in Wisconsin must have auto insurance. Since law enforcement will start asking for proof of insurance during traffic stops, this is a good time to ensure that you have proof of your insurance in your wallet or purse.
Wisconsin drivers are now required to have a policy providing at least:
- $50,000 in bodily injury coverage for one person
- $100,000 in bodily injury coverage per accident
- $15,000 to cover property damage
- uninsured and under-insured motorist coverage with limits of at least $100,000 per person and $300,000 per accident
Prior to this new law, the limits were $25,000, $50,000 and $10,000, respectively.
State of Wisconsin’s Consumer Guide to Auto Insurance
The Office of the Commissioner of Insurance published a Consumer Guide to Auto Insurance in 2008. Although it does not contain information about the new mandatory auto insurance law, there are a lot of useful tips for consumers such as ways to lower insurance premiums and definitions of types of coverage.
The Guide illustrates that insurance quotes can vary widely. For example, in the premium tables the Guide quotes, insuring a 21 year old female driver of a 2003 Dodge Neon living in Milwaukee would have rates ranging from $398 at United Services Auto Association, $513 at Progressive, and $546 at State Farm, all the way to $1,783 at Dairyland Insurance and $1,916 at Sentry Insurance. Although the premium table is recently out of date (from January 1, 2008), it still is a good example of how insurance rates can vary and how important it is for a consumer to shop around.
Car Insurance Shopping Resources
Here are a few useful resources to help you do some comparison shopping and find the best rates available. Do you have any recommendations for our readers? If so, please leave a comment!
Geico.com - Serving more than 9 million auto policy owners and insuring more than 16 million vehicles. Fastest-growing major auto insurer in the U.S. in 2008. Visit their website to get a quote.
Travelers – Travelers has been in the insurance business for over 150 years and offers competitive rates with many different options. Visit their website to get a quote.
Insure.com – Clark Howard recently recommended this webpage from Insure.com on his show. The page allows you to comparison shop for premiums for different models of 2010 vehicles. Very handy if you are going to buy a new car, as consumers should consider the long-term cost of car insurance on the vehicle they plan to purchase.