Wisconsin Car Insurance Requirements, Laws and Coverage
In Wisconsin, car owners and drivers are required to demonstrate the capacity to indemnify, to some extent, another party for damage or injury caused by their vehicle. Wisconsin auto insurance minimums and laws stipulate two ways through which to demonstrate this financial capacity. A driver can either place a cash deposit or file a bond in the amount of $60,000 with the state's Department of Transportation, or he can purchase auto liability insurance with the minimum coverages as mandated by law. The obvious choice for most residents would be to purchase auto liability insurance for only about $1,200. This state average premium is lower than the national average auto insurance premium of a little over $1,500. Actual premiums, however, could vary depending on a number of underwriting factors as prescribed by the auto liability insurance company.
Purchasing a basic auto liability insurance with a 50/100/15 coverage would satisfy the requirements of the Wisconsin auto insurance minimums and laws. This means that the driver will be covered for $50,000 for bodily injuries or death of one person in a single accident, or an aggregate amount of $100,000 in cases when there is more than one person involved. For property damage, on the other hand, the minimum required coverage is $15,000. Higher coverage amounts could be purchased by the driver should he feel the need to. Premiums will of course be higher for higher coverages.
As proof of coverage, the Wisconsin Department of Transportation requires that a car owner or driver present documentary evidence. This necessitates the filing of the SR-22 form with the insurance company from which you bought your insurance policy. This form contains details that show that your coverage is in compliance with Wisconsin auto insurance minimums and laws. A copy of the accomplished SR-22 form would then be forwarded to the Department of Transportation through any one of several ways: electronic notification by the insurance provider, mailed notification, or hand-carried by the car owner.
Lofty fees are charged on drivers who are caught without adequate coverage that comply with Wisconsin auto insurance minimums and laws. A fine of up to $500 could be levied onto a driver who does not have the minimum required coverages. Additional fees to reinstate a driver’s license and car registration would also be collected when the driver has already purchased the required auto insurance coverages. There is simply no excuse for not having even just the state-required minimum auto insurance coverages in Wisconsin, or in any other state in the United States.
Wisconsin Department of Insurance
- 125 South Webster Street
- Madison, WI 53703
- Phone: (608) 266-3585
- Fax: (608) 266-9935
- oci.wi.gov
Wisconsin Department of Transportation
- Hill Farms State Transportation Building
- 4802 Sheboygan Avenue
- Madison, WI 53707
- Phone: (608) 267-3703
- www.dot.wisconsin.gov
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