Quote Chicago Auto Insurance at a Discount With These Tips

Auto insurance prices seem to mysteriously be higher every time it renews, yet most consumers undoubtedbly pay it without knowing why the price went up. A few Illinois auto insurance companies charge inflated prices, so if you don’t do rate comparisons on a regular basis, you’re pouring money down the drain every month.

There are multiple methods to compare auto insurance prices but one way is easier and takes less work. You can spend countless hours discussing policy coverages with local insurance agents in Chicago, or you could save time and use online quoting to get the quickest rates.

Most car insurance companies belong to an insurance system that allows shoppers to enter their coverage request one time, and each participating company then returns a price quote determined by their information. This saves time by eliminating multiple quote forms for every auto insurance company.

To enter your information into the quoting system, click to open in new window.

The only drawback to pricing coverage this way is that consumers can’t choose the providers you want to price. If you wish to select from a list of companies to compare rates we have a listing of auto insurance companies in Illinois. Click to view list.

However you get your quotes, make sure you use identical information for every quote you compare. If you are comparing higher or lower deductibles then you won’t be able to determine the best car insurance price in Chicago. Quoting even small variations in coverage limits can mean a large discrepancy in price. And when comparing auto insurance rates, know that getting more free quotes provides better odds of getting the best price.

Many Things Influence your Rates

An important part of buying insurance is that you know the different types of things that play a part in calculating the price you pay for auto insurance. Knowing what determines base rates empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

Shown below are a partial list of the pieces used by your company to calculate rates.

Poor driving leads to higher costs – Your driving citation history has a lot to do with how much you pay for insurance. Just one citation can bump up the cost by twenty percent. Drivers who don’t get tickets have lower premiums than their less careful counterparts. Drivers who have dangerous citations like DUI or reckless driving may need to file a SR-22 with the Illinois state DMV in order to prevent a license revocation.

Marriage pays dividends – Having a wife or husband helps lower the price on your policy. It translates into being more mature and responsible and it’s proven that being married results in fewer claims.

How your age affects price – Teen drivers in Illinois have a tendency to be more careless when behind the wheel so they pay higher auto insurance rates. Older insureds are viewed as being more responsible, statistically cause fewer accidents and receive fewer citations.

An active claims history can cost you – Car insurance companies award lower rates to policyholders who do not file claims often. If you tend to file frequent claims, you can pretty much guarantee either policy cancellation or increased premiums. Your insurance policy is designed for the large, substantial claims.

How credit affects auto insurance rates – Credit score is a important factor in calculating your auto insurance rates. People with high credit ratings tend to be more responsible than drivers with lower ratings. So if your credit history is low, you could pay less to insure your by spending a little time repairing your credit.

Multi-policy discounts can save money – Some insurers will give a discount to customers who carry more than one policy in the form of a multi-policy discount. If you currently are using one company, you still need to compare rates to verify if the discount is saving money. Drivers may still find a better deal by buying auto insurance from a different company.

Do you qualify for a discount?

The price of auto insurance can be rather high, but you may find discounts that many people don’t even know exist. A few discounts will automatically apply at the time of purchase, but a few need to be specially asked for prior to getting the savings.

Drivers Education – Have your child complete a driver education course if offered at their school.
No Charge for an Accident – Certain companies will forgive one accident before raising your premiums as long as you don’t have any claims for a set time period.
Federal Government Employee – Being employed by or retired from a federal job could cut as much as 10% off with select insurance companies.
Life Insurance – Larger companies have a discount if you purchase life insurance.
College Student – Kids in college who are attending college and don’t have a car may qualify for this discount.
Seat Belts Save – Requiring all passengers to use their safety belts could save 15% off the personal injury premium cost.
Drive Less and Save – Low mileage vehicles could be rewarded with discounted rates on garaged vehicles.
Homeowners Discount – Owning a house in Chicago can help you save on auto insurance because maintaining a house shows financial diligence.
Passive Restraint Discount – Factory air bags and/or automatic seat belt systems may earn rate discounts of up to 25% or more.

It’s important to note that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce individual premiums such as medical payments or collision. So when it seems like it’s possible to get free car insurance, you won’t be that lucky. Any qualifying discounts will bring down your overall premium however.

Do drivers who switch really save?

Auto insurance companies such as GEICO, State Farm and Progressive consistently run ads on TV and radio. They all seem to make an identical promise of big savings if you change your coverage to them. How does each company make almost identical claims? Here’s how they do it.

Insurance companies are able to cherry pick for the type of customer that is profitable for them. For instance, a desirable insured could possibly be between the ages of 40 and 55, owns a home, and chooses high deductibles. Any new insured who meets those qualifications gets the lowest rates and most likely will cut their rates substantially.

Drivers who don’t meet these standards will have to pay higher prices and ends up with the driver buying from a lower-cost company. The ads state “customers that switch” not “people who quote” save that much money. That’s the way insurance companies can confidently state the savings.

Because of the profiling, you absolutely need to get as many comparisons as possible. It’s impossible to know which auto insurance company will give you the biggest savings.

What coverages do I need?

When choosing adequate coverage, there isn’t really a perfect coverage plan. Every situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that can help discover whether your personal situation may require special attention.

Can I get a multi-policy discount for packaging my home and auto coverage?
Will I be non-renewed for getting a DUI or other conviction?
Does my insurance cover a custom paint job?
I have good health insurance, so how much medical payments coverage do I need?
Should I file a claim if it’s only slightly more than my deductible?
Do I really need UM/UIM coverage?
Is rental equipment covered for theft or damage?
How high should my medical payments coverage be?
Am I covered when delivering products for my home-based business?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with an insurance agent. To find lower rates from a local agent, simply complete this short form.

One last thing

We just showed you a lot of ways to compare prices online. It’s most important to understand that the more quotes you get, the higher your chance of finding lower rates. Consumers could even find that the best prices are with some of the smallest insurance companies. They may cover specific market segments cheaper than their larger competitors like GEICO and State Farm.

As you restructure your insurance plan, make sure you don’t reduce needed coverages to save money. In many instances, consumers will sacrifice uninsured motorist or liability limits to discover at claim time that their decision to reduce coverage ended up costing them more. The aim is to buy the best coverage you can find at a price you can afford.

Lower priced auto insurance can be purchased online as well as from independent insurance agents in Chicago, so compare prices from both to have the best rate selection. Independent agents are able to place your coverage with small, regional companies that don’t always offer the ability to get a quote online.

To find out more about Illinois auto insurance

Additional auto insurance information is located on the website for the Illinois Department of Insurance located here. Illinois consumers can read consumer alerts, view agent and company licensing information, and read enforcement actions against agents and companies.