For Wisconsinites seeking to compare auto quotes as a way of defeating the high cost of car insurance, there’s great news that’ll soon have a beneficial impact on their yearly premiums regardless of who they insure with. On April 12, Governor Scott Walker signed into law Act 14, which repeals a law passed two years ago in Wisconsin that doubled the required minimum liability coverage for car insurance and considerably raised the required level of coverage for property insurance. While this move won’t have any positive or negative impact on the ability for Wisconsin drivers to obtain easy car insurance quotes, it’ll certainly have a diminishing effect on the overall bottom line when they compare auto quotes.
Critics of the increases, which the new law does away with, have argued that Wisconsin residents are being forced to pay much higher auto insurance premiums than many are able to afford. When the increases were enacted in 2009, the required liability coverage for a single person was raised from $25,000 to $50,000, and mandatory liability coverage for two people was raised from $50,000 to $100,000. The minimum required property damage coverage went from $15,000 to $10,000. Proponents of Act 14 are hopeful that this action will cause other states to also take a close look at their required insurance minimums with the same cost lowering, consumer-empowering perspective.
Wisconsin car insurance customers won’t see any changes on their auto insurance bills until November, but better late than never. The changes will arrive just in the nick of time to hopefully give a boost to the Holiday gift budget of every Wisconsinite on wheels.
Do you Need Full Insurance Coverage on High Mileage Cars? What are my options?
Car owners with high mileage automobiles are often torn on how to proceed with their coverage. Thanks to online comparison tools that allow owners to look at different insurance companies, consumer...
Read More →
Does Insuring an Older Home Increase my Insurance Premium?
One of the variables that can affect home insurance premium amounts is that of an older home. Homeowners who take advantage of the ability to compare rates online can get personalized quotes for th...
Read More →
Does Having a Trampoline or Pool Increase My Home Insurance Cost?
Before you put in a swimming pool or purchase a trampoline for your children, consider the additional cost to your home insurance rates. Coverage for a house that already has a pool is much higher ...
Read More →