In order to legally register your vehicle in Wisconsin, you'll most likely need to purchase an auto insurance policy. This guide will help you determine the right auto insurance coverage for you.
Talk to a few different companies. If you are looking to buy auto insurance in Wisconsin, you have a few options. You can take the traditional route and a get a few quotes from different auto insurance companies in your state. Make sure that you compare not only the price of each policy but also the coverage provided, as more coverage is generally worth a few extra dollars each month. Look in the yellow pages of your phone book for insurance companies that offer coverage in Wisconsin. But also consider going online to websites like http://www.allstate.com/ and http://www.statefarm.com/ to look for auto insurance coverage. A typical driver in Wisconsin will pay about $600 a year for auto insurance coverage.
Apart from traditional insurance coverage, drivers in Wisconsin also have the uncommon option of proving financial responsibility through the following methods. Drivers can buy liability insurance or put down a cash deposit of $60,000 with the Wisconsin Department of Transportation. Or, a driver can post a bond from a licensed insurance company in Wisconsin. Such coverage fulfills the requirement to carry proof of financial responsibility in Wisconsin.
Understand minimum state requirements. Assuming that you follow the crowd and opt for traditional auto insurance coverage in Wisconsin, your policy will be required to meet minimum state requirements in terms of liability coverage. You'll need at least $25,000 for single bodily injury, $50,000 for total bodily injury (or death) and an additional $10,000 for property damage caused by an accident.
Since Wisconsin is a Tort state, it is suggested (although not required) that you carry at least $50,000 single or $100,000 total Uninsured / Underinsured Motorists Coverage (UM / UMI). In a Tort state, the at-fault driver is required to pay all of the fees and expenses of the victims, regardless of the coverage of his or her policy. So if you are to blame after an accident, additional coverage like this will help you to cover the costs. As with any insurance policy, the more coverage you can get, the better. So consider upgrading your policy from the state minimums.
Considering leaving drivers uninsured. In Wisconsin, you are allowed to leave drivers (even at-risk ones) off of your auto insurance policy. In the event of an accident or emergency, however, these drivers would not be covered so you'd have to pay any expenses that result. Although this may be a cheaper option in the short-term, it is suggested that you insure all drivers in a household so that you'll never be held financially responsible for an accident without having the support of your insurance company.
Understand how your premium is calculated. When you call an auto insurance company in Wisconsin and ask for a quote, they'll need to consider a few things about you before they can arrive at a number. First of all, they'll want to know that you're not an insurance risk. They determine this by looking at your credit history and ensuring that you have a history of paying your bills on time. As well, they'll consider how old you are, your gender, what type of vehicle you drive, and your past driving history in order to determine the auto insurance premiums and coverage they'll offer you in the state of Wisconsin.