How long has it been since you shopped around for lower-priced Dodge Magnum insurance in Chicago? Did budget coverage turn out to be high-priced Dodge Magnum insurance in Chicago? You're in good company because there are lots of people in the same boat.
Shockingly, 70% of consumers kept their coverage with the same car insurance company for at least four years, and nearly 40% of drivers have never quoted car insurance rates at all. Many drivers in Illinois could save themselves $586 a year just by comparing rates, but they mistakenly think it's difficult to compare other rate quotes. Companies like Allstate, Progressive and GEICO all promote huge savings with ad campaigns and consumers find it hard to ignore the propaganda and take the time to shop coverage around.
If you are insured now or just want cheaper coverage, use these cost-cutting techniques to reduce the price you pay without having to cut coverage. Locating the best rates in Chicago is really not that difficult. Smart buyers just need to learn the proper way to shop for auto insurance over the internet.
The quickest way to compare car insurance rates for Dodge Magnum insurance in Chicago utilizes the fact most of the bigger providers have advanced systems to give rate comparisons. The only thing you need to do is provide a little information like if you have an active license, if the car is leased, if a SR-22 is required, and if you went to college. That rating information is automatically sent to insurance companies and they return quotes instantly.
To find the cheapest Dodge Magnum insurance rates, click here and find out if lower rates are available in Chicago.
The companies in the list below can provide quotes in Chicago, IL. If multiple providers are shown, we recommend you click on several of them to get a more complete price comparison.
Discounts can help to save on Dodge Magnum insurance in Chicago
Insurance can be prohibitively expensive, but there's a good chance there are discounts to reduce the price significantly. Certain discounts will be applied when you complete an application, but some need to be specially asked for before being credited.
- Lower Rates for Military - Having a deployed family member could be rewarded with lower premium rates.
- Pay Early and Save - By paying your entire bill at once instead of paying each month you can avoid monthly service charges.
- Student in College - College-age children who are enrolled in higher education away from home and do not have access to a covered vehicle may be able to be covered for less.
- Student Driver Training - Make teen driver coverage more affordable by requiring them to participate in a local driver's education class if it's offered in school.
- Air Bags and Passive Restraints - Vehicles with factory air bags or automatic seat belts can get savings up to 30%.
- First Accident Forgiveness - Not really a discount, but a handful of insurance companies will forgive one accident without getting socked with a rate hike so long as you haven't had any claims for a specific time period.
- Own a Home - Simply owning a home can save a few bucks because maintaining a house requires a higher level of personal finance.
A quick disclaimer, some of the credits will not apply to the whole policy. Most only cut the price of certain insurance coverages like liability and collision coverage. So when the math indicates adding up those discounts means a free policy, insurance companies wouldn't stay in business.
Companies and the discounts they provide are:
- American Family discounts include mySafetyValet, TimeAway discount, accident-free, bundled insurance, multi-vehicle, early bird, and defensive driver.
- Nationwide includes discounts for good student, anti-theft, easy pay, business or organization, Farm Bureau membership, and multi-policy.
- MetLife policyholders can earn discounts including defensive driver, multi-policy, good driver, good student, claim-free, accident-free
- 21st Century offers discounts including anti-lock brakes, good student, teen driver, defensive driver, homeowners, theft prevention, and 55 and older.
- Farmers Insurance offers discounts for multi-car, alternative fuel, distant student, bundle discounts, teen driver, youthful driver, and pay in full.
- Allstate has savings for economy car, resident student, anti-theft, teenSMART discount, and good student.
Before buying, ask every insurance company how you can save money. Some of the discounts discussed earlier may not be offered in every state.
Local Chicago insurance agents
Many people just want to visit with an insurance agent and doing so can bring peace of mind Good agents are very good at helping people manage risk and help submit paperwork. One of the great benefits of getting free rate quotes online is that you can find cheap car insurance rates and also buy local. Buying from neighborhood insurance agencies is definitely important in Chicago.
To find an agent, once you fill out this form (opens in new window), your coverage information is emailed to agents in your area who will give competitive quotes for your coverage. It makes it easy because there is no need to contact any agents because quoted prices will be sent straight to your inbox. If you need to get a comparison quote from a specific car insurance provider, just visit that company's website and complete a quote there.
When looking for a reliable agent, you need to know there are two types of insurance agents and how they can service your needs differently. Insurance agencies in Chicago can be categorized as either exclusive or independent. Either one can sell affordable car insurance policies, but it's important to know the difference in how they write coverage since it may influence which type of agent you select.
Agents in the independent channel are appointed with more than one company and that is an advantage because they can write policies with lots of companies and possibly get better coverage at lower prices. If your agent finds better pricing, the business is moved internally and you don't have to do anything. If you need cheaper car insurance rates, we recommend you include several independent agencies to have the best price comparison.
Listed below is a partial list of independent insurance agencies in Chicago that may be able to give competitive price quotes.
Exclusive Car Insurance Agencies
Agents that choose to be exclusive can only quote rates from one company and some examples include Farmers Insurance, Allstate, or State Farm. They generally cannot shop your coverage around so keep that in mind. These agents are well trained on the products they sell which aids in selling service over price.
Shown below are Chicago exclusive agencies that can give you rate quotes.
Finding the right insurance agent should depend on more than just the premium amount. The questions below may impact your decision as well.
- Do they offer accident forgiveness?
- Is their price quote a firm figure or are their hidden costs?
- How does the company pay claims for a total loss?
- Does the agent have professional designations like CIC, CPCU or AIC?
- If you raise deductibles, how much can you save?
- Can they give you a list of client referrals?
- Do they regularly work with personal auto policies in Chicago?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
Insurance agents can help
When it comes to choosing your policy, there really is not a cookie cutter policy. Your situation is unique.
For example, these questions may help you determine if your insurance needs would benefit from an agent's advice.
- Does my insurance cover damage caused when ticketed for reckless driving?
- What does medical payments coverage do?
- Do I need roadside assistance coverage?
- Is a driver training discount available?
- How much will a speeding ticket raise my rates?
- Do they offer discounts for home and auto coverage?
- Do I have coverage if my license is suspended?
- Do I pay less if my vehicle is kept in my garage?
- If my pet gets injured in an accident are they covered?
- Do I get a pro-rated refund if I cancel my policy early?
If it's difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an agent. If you don't have a local agent, simply complete this short form. It's fast, doesn't cost anything and can help protect your family.
Don't believe everything you hear
Illinois consumers can't avoid all the ads that claim the lowest premium rates by companies like GEICO, State Farm and Progressive. All the ads make an identical promise that drivers will save a bundle just by moving your coverage.
Is it even possible that every company can save you money on Dodge Magnum insurance in Chicago? You have to listen carefully.
Insurance providers quote their best rates for the driver that makes them money. An example of a desirable risk might have to be a mature driver, owns a home, and drives a car with an anti-theft system. A customer getting a price quote that meets those criteria will get the preferred auto insurance rates in Chicago and most likely will cut their Dodge Magnum insurance rates if they switch.
Drivers who don't meet those criteria will get higher premiums which leads to business not being written. The ad wording is "customers that switch" but not "everyone who gets a quote" save that kind of money. That is how companies can make the claims of big savings.
This really drives home the point why it's extremely important to do a price quote comparison at every renewal. Because you cannot predict which company will have better premium rates than you're paying now.
Car insurance coverage information
Learning about specific coverages of your car insurance policy can be of help when determining the best coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring.
This coverage provides protection from damage or injury you incur to other people or property that is your fault. It protects YOU against claims from other people. It does not cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 20/40/15 which means $20,000 bodily injury coverage, $40,000 for the entire accident, and $15,000 of coverage for damaged property. Another option is a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against claims like attorney fees, structural damage, repair costs for stationary objects, legal defense fees and medical services. How much coverage you buy is a decision to put some thought into, but buy as much as you can afford. Illinois requires drivers to carry at least 20/40/15 but you should consider buying more coverage.
Medical payments coverage and PIP
Medical payments and Personal Injury Protection insurance provide coverage for bills for things like pain medications, nursing services, EMT expenses, chiropractic care and prosthetic devices. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. They cover both the driver and occupants as well as being hit by a car walking across the street. PIP is not available in all states but can be used in place of medical payments coverage
Uninsured/Underinsured Motorist coverage
This protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your Dodge Magnum.
Since many Illinois drivers have only the minimum liability required by law (which is 20/40/15), their limits can quickly be used up. That's why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually these limits are set the same as your liability limits.
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive can pay for things like falling objects, a tree branch falling on your vehicle, damage from getting keyed and vandalism. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle's value is low it's not worth carrying full coverage.
Collision coverage protection
Collision coverage covers damage to your Magnum resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as colliding with a tree, hitting a parking meter, driving through your garage door and backing into a parked car. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Another option is to raise the deductible on your Magnum to save money on collision insurance.
Don't give up on cheaper premiums
In this article, we covered some good ideas how you can save on Dodge Magnum insurance in Chicago. The key concept to understand is the more rate quotes you have, the better your comparison will be. You may even be surprised to find that the lowest rates are with some of the lesser-known companies.
People who switch companies do it for many reasons like not issuing a premium refund, high prices, high rates after DUI convictions and policy cancellation. It doesn't matter why you want to switch switching companies is not as difficult as it may seem.
Affordable Dodge Magnum insurance in Chicago can be bought from both online companies and from local agencies, so you should be comparing quotes from both so you have a total pricing picture. A few companies do not offer internet price quotes and many times these regional carriers prefer to sell through local independent agents.
Even more information can be read at these sites:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- How Much are Chicago Car Insurance Rates for Unemployed Drivers? (FAQ)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Understanding Car Crashes Video (iihs.org)