Are you irritated from sacrificing other expenses each month for insurance? You are no different than the majority of other vehicle owners in Illinois.
Statistics show that over 70% of drivers have purchased from the same company for at least the last four years, and approximately 38% of consumers have never compared quotes from other companies. Chicago drivers could save roughly $590 every year just by getting comparison quotes, but they just don’t understand the amount of money they would save if they bought a different policy.
Due to the abundance of online and local companies to choose from, it’s difficult to choose a more affordable insurance company.
It’s a good habit to compare premium rates as often as possible because insurance prices change quite often. Just because you found the best rates on Kia Soul insurance in Chicago a few years ago a different company probably has better premium rates today. Ignore everything you know about insurance because I’m going to let you in on the secrets to the things you must know in order to properly buy coverages while reducing your premium.
Many insurance companies give prices on the web. Doing online price comparisons for Kia Soul insurance in Chicago is easy for anyone because you just enter your required coverages into a form. After you complete the form, their rating system gets information on your driving record and credit history and gives you a price quote based on these factors. The ability to get online quotes for Kia Soul insurance in Chicago makes it simple to compare prices and it’s absolutely necessary to get many rate quotes if you want to find the cheapest price possible.
If you want to find out what other companies charge, compare rates now from the companies shown below. If you have your current policy handy, we recommend that you enter your coverages just like they are on your policy. Using the same limits helps guarantee you will get a rate comparison using the exact same coverages.
The companies shown below offer price comparisons in Illinois. If multiple companies are shown, it’s a good idea that you get price quotes from several of them to find the most competitive auto insurance rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Soul | $156 | $282 | $246 | $14 | $74 | $772 | $64 |
| Soul Plus | $194 | $398 | $294 | $18 | $88 | $992 | $83 |
| Soul Exclaim | $218 | $418 | $294 | $18 | $88 | $1,036 | $86 |
| Soul Sport | $254 | $406 | $262 | $16 | $78 | $1,016 | $85 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rate quotes do not factor in vehicle location which can change coverage prices noticeably.
Auto insurance rates based on gender
The diagram below compares Kia Soul insurance rates for male and female drivers. The premium estimates are based on no claims or violations, full coverage, $500 deductibles, marital status is single, and no policy discounts are applied.
How much more does full coverage cost in Chicago?
The diagram below shows the difference between Kia Soul yearly insurance costs when comparing full coverage to liability only. The price estimates are based on no violations or accidents, $100 deductibles, single male driver, and no policy discounts are applied.
Should you buy full coverage or liability only?
There is no set guideline to eliminate full coverage, but there is a general convention. If the yearly cost of full coverage is more than 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Kia Soul book value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $6,000 after you pay the deductible. If premium cost is more than $600 a year for full coverage, then it might be time to buy liability only.
There are some conditions where only buying liability is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
Choosing Kia vehicle insurance is an important decision
Even though Chicago Soul insurance rates can get expensive, paying for auto insurance may not be optional for several reasons.
- The majority of states have compulsory liability insurance requirements which means state laws require a specific minimum amount of liability insurance in order to drive the car legally. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Soul has a lien holder, almost all lenders will have a requirement that you buy insurance to ensure loan repayment if the vehicle is totalled. If the policy lapses, the bank may buy a policy for your Kia at a much higher rate and require you to fork over for it.
- Insurance safeguards both your Kia Soul and your assets. It will also reimburse you for most medical and hospital costs that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance outweigh the cost, particularly for liability claims. According to a 2015 survey, the average American driver is overpaying over $750 every year so compare quotes from several companies at least once a year to be sure current rates are still competitive.
Tricks in car insurance advertising
Popular car insurance providers such as Allstate, GEICO and Progressive continually stream ads on TV and radio. All the companies advertise claims that you can save if you get a free Chicago car insurance quote and switch your coverage to them. How does every car insurance company have lower policy pricing? It’s all in the words they use.
All the different companies require specific criteria for a prospective insured that earns them the most money. For example, this type of driver might have to be between the ages of 30 and 45, has never had a policy lapse, and drives newer vehicles. Anybody that fits those parameters receives the best auto insurance rates in Chicago and is almost guaranteed to cut their Kia Soul insurance rates if they switch.
Potential customers who fall outside these stringent criteria will be charged a higher rate and this can result in the customer buying from a different company. Company advertisements say “drivers who switch” but not “all drivers who get quotes” save that much when switching. That is how companies can make it sound like they have such great prices.
This illustrates why you should do a rate comparison at every renewal. It is impossible to guess which insurance companies will fit you best based on your risk profile.
Don’t neglect these money saving discounts
Some insurance providers do not advertise all possible discounts very clearly, so the list below details some of the more common as well as the least known credits that you can use to lower your rates.
- E-sign Discounts – Many insurance companies will give a small break simply for signing on their website.
- Discount for Passive Restraints – Vehicles equipped with air bags may earn rate discounts of 20 to 30 percent.
- Responsible Driver Discounts – Drivers without accidents can save as much as half off their rates than drivers with accident claims.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a discounted rate on car insurance if you buy life insurance.
- Lower Rates for Military – Being on active duty in the military could qualify you for better prices.
- Savings for New Vehicles – Buying a new car model can get you a discount compared to insuring an older model.
- Seat Belts Save more than Lives – Forcing all vehicle occupants to wear their seat belts can save up to 10 percent (depending on the company) off the medical payments premium.
- Discount for Swiching Early – Some larger companies provide a discount for buying a new policy prior to your current Soul insurance policy expiring. You can save around 10% with this discount.
- Driver’s Education for Students – Have your child successfully take a driver’s education course in high school.
- Discounts for Federal Employees – Active or former government employment could provide a small rate reduction with certain companies.
It’s important to note that most discounts do not apply to the entire policy premium. A few only apply to individual premiums such as physical damage coverage or medical payments. So even though it sounds like you could get a free auto insurance policy, that’s just not realistic. But all discounts will bring down your premiums.
A few of the larger companies and their offered discounts can be found below.
- Progressive offers discounts including multi-vehicle, multi-policy, good student, continuous coverage, online signing, and homeowner.
- The Hartford policyholders can earn discounts including driver training, bundle, good student, defensive driver, and air bag.
- Mercury Insurance may offer discounts for accident-free, type of vehicle, professional/association, low natural disaster claims, and age of vehicle.
- GEICO includes discounts for emergency military deployment, air bags, multi-policy, five-year accident-free, driver training, and multi-vehicle.
- AAA offers premium reductions for multi-policy, pay-in-full, good driver, education and occupation, and multi-car.
- State Farm may have discounts that include anti-theft, driver’s education, accident-free, defensive driving training, multiple autos, and safe vehicle.
If you need lower rates, check with each insurance company to give you their best rates. A few discounts might not be available to policyholders in every state. For a list of auto insurance companies that offer multiple discounts in Chicago, click here to view.
Compare prices but still have a local neighborhood Chicago car insurance agent
Many drivers just prefer to sit down with an agent and we recommend doing that The biggest benefit of comparing insurance prices online is that drivers can save money and get cheap rate quotes and still have a local agent. Supporting local agencies is definitely important in Chicago.
For easy comparison, once you complete this simple form, your information is submitted to agents in your area who can give free rate quotes for your insurance coverage. It makes it easy because there is no need to visit any agencies due to the fact that quote results will go to the email address you provide. You can find better rates and work with a local agent. If you want to get a rate quote from a specific car insurance provider, you can always navigate to their website and submit a quote form there.
Pick the best car insurance agent in Chicago for you
If you want a reliable agent, it can be helpful to understand the different agency structures and how they are slightly different. Agents can be classified as either exclusive or independent agents depending on their company appointments.
Independent Car Insurance Agents (or Brokers)
Independent agents can quote rates with many companies and that allows them to write policies through many different car insurance companies and find the cheapest rate. If premiums increase, your policy is moved internally and you won’t have to switch agencies. If you need lower rates, we recommend you contact several independent agencies so that you have a good selection of quotes to compare.
The following is a short list of independent insurance agencies in Chicago that can give you rate quotes.
Skyline Insurance Agency, Inc.
2302 W Belmont Ave – Chicago, IL 60618 – (773) 525-7500 – View Map
Active Insurance Agency – Auto Insurance
1034 N Ashland Ave – Chicago, IL 60622 – (773) 286-3473 – View Map
Public Insurance Agency
3656 N Cicero Ave – Chicago, IL 60641 – (773) 725-9333 – View Map
Exclusive Agents
These agents normally can only provide a single company’s rates and examples are Farmers Insurance, Allstate, or State Farm. Exclusive agents are unable to provide prices from multiple companies so keep that in mind. Exclusive insurance agents are well schooled on their products and sales techniques which can be an advantage.
Shown below are Chicago exclusive agents that are able to give price quote information.
Rhea Joyer – State Farm Insurance Agent
4911 N Lincoln Ave c – Chicago, IL 60625 – (773) 878-8883 – View Map
John Kim – State Farm Insurance Agent
5700 N Lincoln Ave #209 – Chicago, IL 60659 – (773) 561-1700 – View Map
Kathleen McKenzie – State Farm Insurance Agent
725 W 31st St – Chicago, IL 60616 – (312) 791-1200 – View Map
Choosing an car insurance agent should include more criteria than just the bottom line cost. Some important questions to ask are:
- What company do they have the most business with?
- Is there any savings for paying the full premium?
- Do they get extra compensation for selling add-on coverages?
- Are they involved in claim handling?
- Does the agency have a good rating with the Better Business Bureau?
- Are all drivers listed on the coverage quote?
- Do they see any coverage gaps in your plan?
- How much experience to they have in personal lines coverages?
After getting good responses to these questions and a low price estimate, chances are good that you have found a car insurance agent that is reputable and can provide car insurance coverage. It’s important to know that you are entitled to cancel your policy whenever you want so never feel that you’re stuck with any particular company for the full term.
What is YOUR best insurance company?
You just read quite a bit of information on how to get a better price on Kia Soul insurance in Chicago. The most important thing to understand is the more rate comparisons you have, the better your comparison will be. You may even find the most savings is with a company that doesn’t do a lot of advertising. Regional companies can often provide lower car insurance rates in certain areas as compared to the big name companies such as GEICO and State Farm.
Low-cost Kia Soul insurance in Chicago is available online as well as from independent agents in Chicago, so you should be comparing quotes from both to have the best chance of lowering rates. Some auto insurance companies do not offer price quotes online and many times these small, regional companies only sell through independent agencies.
Additional articles
- What to do at the Scene of an Accident (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Veterans in Chicago? (FAQ)
- Who Has Affordable Car Insurance for a Kia Optima in Chicago? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for a Nissan Altima? (FAQ)
- What Does No-Fault Insurance Cover? (Allstate)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Tools for Teen Driving Safety (State Farm)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)