With COVID-19 causing drastic changes in people’s driving habits and personal finances, WalletHub has released a new report on the states with the cheapest and most expensive car insurance.
It also is providing a review of what it called “Wisconsin’s best cheap car insurance companies.”
Based on WalletHub’s analysis, Wisconsin was determined to be the eighth cheapest state for car insurance in 2021.
WalletHub’s analysis showed the top five cheapest car insurance companies in Wisconsin are USAA, West Bend Mutual, Geico, Secura Insurance and Erie.
Other key findings included:
•Full coverage car insurance costs 202% more than minimum coverage in Wisconsin, on average.
•Sixteen-year-olds pay 524% more for car insurance than 55-year-olds in Wisconsin, on average.
•Drivers with a DUI pay 91% more for car insurance than drivers with a clean record in Wisconsin, on average.
•Sixty-one million Americans have reduced their car insurance coverage due to COVID-19.
•105 million Americans say they’re not getting their money’s worth from their car insurance.
•Fifty-five million Americans have second thoughts about owning a car due to COVID-19.