Cheap Auto Insurance in Wisconsin
Auto Insurance Requirements in Wisconsin
Like any other state, Wisconsin requires drivers to be able to meet financial obligations should they be involved in an accident where they are at fault. As such, establishing what’s known as proof of financial responsibility is a prerequisite for registering and driving a vehicle. Wisconsin residents have three options for fulfilling the requirements:
• purchasing a standard liability insurance policy
• making a cash deposit in the amount of $60,000 with the Wisconsin DOT
• posting a minimum $60,000 bond
Most drivers will simply purchase an affordable auto insurance policy to satisfy state requirements. In such a case the liability policy would cover the driver up to the following minimum amounts:
• $50,000 per accident for death or injury of a single person
• $100,000 per accident for deaths or injuries of multiple persons
• $15,000 per accident for property damage
If these limits seem unusually high to you, it’s because they are. If they aren’t the highest in the country they are at least near the top of the list. Yet when you consider how easily it is to exhaust an insurance policy through emergency medical care, the limits don’t seem so excessive after all. In states where minimum limits are much lower experts recommended drivers increase them anyway. In the end, it all comes out in the wash for Wisconsin drivers.
Insurance Coverage Documentation
It’s interesting to note that Wisconsin requires drivers who choose to purchase an affordable car insurance policy to also file an SR-22 affidavit through their provider. In other states this affidavit is only required as a result of certain types of offenses.
Since it’s required by default in Wisconsin, it doesn’t carry with it higher insurance premiums unless accidents or violations are involved. Once the affidavit is filed your insurance carrier can inform the state electronically, send them a notice in the mail, or send you a copy of the affidavit to present to the DMV on your own.
That SR-22 affidavit should be kept at home, in a safe place. Use the carrier provided insurance ID card as the proof of insurance you’ll be carrying in your glove box. If you’ve chosen to post a bond or make a cash deposit you should have documentation from the state showing as much. This documentation takes the place of the insurance ID card.
In the event you’re pulled over by the police or you’re involved in an accident, you’ll have to show the attending officer your insurance ID card or documentation from the state. Without that documentation you could face a fine of up to $500. If the state determines you are not properly covered at the time of your citation you may face additional fines as well as suspensions of your license and registration. Once the suspensions have been served there’s no need to pay reinstatement fees to get them back.