Want to learn how to save money and find more affordable Jeep Patriot insurance in Chicago? No normal person likes having to buy auto insurance, particularly when the price is too high.
A recent NerdWallet.com study revealed that most drivers in Illinois renewed their policy with the same company for four years or more, and just short of a majority have never taken the time to shop around. Many drivers in the United States could save about $859 each year, but they don’t know the rate savings if they switched. Because there are so many different company options, it’s difficult to find a lower cost auto insurance provider.
Consumers need to get comparison quotes before your policy renews since insurance rates are rarely the same from one policy term to another. Even if you got the lowest rate on Jeep Patriot insurance in Chicago last year a different company probably has better prices today. Ignore everything you know about auto insurance because we’re going to demonstrate the things you must know in order to properly buy coverages while reducing your premium.
Finding a lower price on insurance is surprisingly easy. All you need to do is invest a few minutes to compare rate quotes to find the company with the cheapest Jeep Patriot rate quotes.
It’s so fast and easy to compare price quotes online that it replaces the need to spend time driving to all the different Chicago insurance agencies. Quoting and buying Jeep Patriot insurance online eliminates this option unless you prefer the professional abilities of a local Chicago agent. Some companies do allow you to price shop online but still have the advice of a local agent.
The providers in the list below have been selected to offer free quotes in Chicago, IL. If several companies are displayed, it’s a good idea that you visit as many as you can to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Patriot Sport 2WD||$138||$254||$340||$20||$102||$854||$71|
|Patriot Sport 4WD||$122||$220||$294||$18||$88||$742||$62|
|Patriot Limited 2WD||$172||$336||$246||$14||$74||$842||$70|
|Patriot Limited 4WD||$184||$312||$268||$16||$80||$860||$72|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Estimates do not factor in vehicle garaging location which can change price quotes substantially.
Cost of full coverage
The illustration below visualizes the comparison of Jeep Patriot yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on a clean driving record, no claims, $500 deductibles, single male driver, and no additional discounts are factored in.
When to stop paying for full coverage
There isn’t a written rule to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s pretend your Jeep Patriot replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $3,000 after the deductible is paid. If you are currently paying more than $300 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where dropping full coverage is not a good idea. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Careless driving habits raise auto insurance rates
The example below shows how speeding tickets and fender-benders can raise Jeep Patriot insurance costs for different age groups of insureds. The data is based on a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
Why you need Patriot insurance in Illinois
Even though it’s not necessarily cheap to insure a Jeep in Chicago, insuring your vehicle is a good idea for several reasons.
First, the majority of states have minimum liability requirements which means you are required to carry a minimum amount of liability insurance in order to drive the car. 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.
Second, if you have a lien on your Jeep Patriot, most banks will make it mandatory that you have physical damage coverage to protect their interest in the vehicle. If you default on your policy, the bank may buy a policy for your Jeep at an extremely high rate and require you to fork over much more than you were paying before.
Third, auto insurance preserves not only your Jeep Patriot but also your assets. It will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability coverage also covers legal expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of buying auto insurance definitely exceed the price paid, especially if you ever need it. The average driver in Illinois is currently overpaying as much as $810 a year so smart consumers compare quotes at every policy renewal to ensure rates are competitive.
Informed Decisions Result in Lower Insurance Rates
Many things are considered when quoting car insurance. Some are obvious such as your driving record, but some are not quite as obvious like where you live or how financially stable you are.
Shown below are a partial list of the pieces companies use to determine your rates.
Raise physical damage deductibles and save – Physical damage deductibles tell how much you are required to spend out-of-pocket in the event of a claim. Coverage for physical damage, also called comprehensive and collision insurance, is used to repair damage to your car. Examples of covered claims are colliding with a stationary object, animal collisions, and damage from wind. The more money you pay before a claim is paid (deductible), the lower your rates will be.
Gender and car insurance rates – Over time, data shows that females take fewer risks when driving. However, don’t assume that women are better drivers. Females and males tend to get into at-fault accidents in similar numbers, but men tend to have higher claims. In addition to higher claims, males also receive more costly citations such as reckless driving.
Your car’s features help determine insurance rates – Driving a car with a theft deterrent system can help bring down rates. Anti-theft devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent vehicle theft.
No policy lapses saves money – Letting your insurance expire is a fast way to drive up your policy premiums. And not only will your rates increase, failure to provide proof of insurance could result in a fine, jail time, or a revoked license.
Save money by having multiple policies – The majority of insurance companies provide lower prices to insureds who buy several policies from them in the form of a multi-policy discount. Even if you’re getting this discount you may still want to compare other Chicago Patriot insurance rates to help ensure you have the lowest rates. You may still find a better deal even if you have your coverage with different companies
Prices may be lower depending on your vocation – Did you know your career choice can influence rates? Jobs such as fire fighters, business owners and emergency personnel generally pay higher rates than average attributed to intense work situations and lengthy work days. Conversely, occupations like actors, students and the unemployed have lower than average premiums.
Having a spouse can save you money – Being married actually saves money on your insurance policy. It usually means you are more stable financially and insurance companies reward insureds because married drivers get in fewer accidents.
The type of car you drive affects your premiums – The performance level of the vehicle you need to insure makes a substantial difference in your auto insurance rates. Due to the fact that the Jeep Patriot is a standard SUV, insuring your vehicle will cost slightly more compared to average rates in Chicago. Lower performance four cylinder passenger cars usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
Jeep Patriot claim data – Companies take into consideration insurance loss statistics for every vehicle in order to profitably underwrite each model. Vehicles that the data shows to have high amounts or severity of claims will have a higher premium rate. The table below illustrates the historical loss data for Jeep Patriot vehicles.
For each insurance policy coverage type, the claim probability for all vehicles compiled together is represented as 100. Values that are under 100 indicate better than average losses, while numbers above 100 point to more losses or a tendency for claims to be larger.
Jeep Patriot Insurance Loss Statistics
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Jeep Patriot 4dr 2WD||80||139||65||123||121||140|
|Jeep Patriot 4dr 4WD||73||121||67||98||100||111|
Statistics from IIHS.org for 2013-2015 Model Years
Get discounts on Chicago insurance
Some providers don’t list the complete list of policy discounts in an easy-to-find place, so here is a list a few of the more well known and also the more inconspicuous discounts that may be available. If you aren’t receiving every discount you qualify for, you could be paying more than you need to.
- Save over 55 – Drivers over the age of 55 may qualify for reduced rates.
- Federal Government Employee – Being employed by or retired from a federal job can earn a discount up to 10% but check with your company.
- Save with a New Car – Buying insurance coverage on a new vehicle can save up to 30% due to better safety requirements for newer vehicles.
- Seat Belts Save – Drivers who require all occupants to use their safety belts may be able to save a few bucks on medical payment and PIP coverage.
- Driving Data Discount – Policyholders that allow driving data collection to spy on driving manner by using a small device installed in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive may get a rate reduction if they have good driving habits.
- First Accident Forgiveness – Not necessarily a discount, but a few companies such as GEICO, Progressive, and Allstate may permit one accident before your rates go up so long as you are claim-free for a specific time period.
- Drive Less and Save – Maintaining low annual mileage can earn slightly better premium rates than normal.
A little note about advertised discounts, many deductions do not apply to the whole policy. The majority will only reduce individual premiums such as medical payments or collision. So when the math indicates having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy. Any qualifying discounts will cut your overall bill.
If you would like to view providers with the best Jeep Patriot insurance discounts in Chicago in Illinois, click here.
Insurance agents can help
Many people would rather go talk to an agent and often times that is recommended Good agents are very good at helping people manage risk and give you someone to call. An additional benefit of comparing insurance prices online is that you can find lower rates and also buy local. Buying from and supporting local agencies is definitely important in Chicago.
By using this simple form, the quote information gets sent to companies in Chicago who can give free rate quotes and help you find cheaper coverage. You never need to contact an agency since price quotes are sent immediately to your email address. If you need to get a price quote from a specific company, you just need to search and find their rate quote page to submit a rate quote request.
Choose an insurance agent wisely
If you are wanting to find a reliable agent, you need to know there are two different types of agencies and how they can service your needs differently. Insurance agencies in Chicago can be classified as either exclusive or independent. Either can properly insure your vehicles, but it’s worth learning the difference between them because it can influence your agent selection.
Independent Insurance Agents
Independent agents are not required to write business for one company and that is an advantage because they can write policies with an assortment of companies and help determine which has the cheapest rates. If your agent finds better pricing, your agent can switch companies and you don’t have to find a new agent. When comparing rate quotes, it’s recommended you get rate quotes from at a minimum one independent agency to get the best comparison.
Listed below are Chicago independent insurance agents that can give you free auto insurance rate quotes.
W.A. George Insurance Agency
155 N Michigan Ave #300 – Chicago, IL 60601 – (312) 729-5265 – View Map
Exclusive Insurance Agents
These type of agents can only place business with one company and examples are AAA, Allstate, and State Farm. These agents are not able to compare rates from other companies so it’s a take it or leave it situation. Exclusive agents are well trained on their company’s products which aids in selling service over price.
Shown below are exclusive insurance agencies in Chicago willing to provide rate quotes.
Glenda Tolentino-Moser – State Farm Insurance Agent
2015 W Montrose Ave – Chicago, IL 60618 – (773) 549-3300 – View Map
Finding the right auto insurance agent should depend on more than just the premium amount. These are some questions your agent should answer.
- Is their price quote a firm figure or are their hidden costs?
- What will you get paid if your car is a total loss? How is that amount determined?
- Is the agent CPCU or CIC certified?
- Do they specialize in personal lines auto insurance in Chicago?
- Does the quote include credit and driving reports?
- How long has their agency been in business in Chicago?
- Are aftermarket or OEM parts used to repair vehicles?
- Does the company have a solid financial rating?
Be persistent to save money
We just showed you a lot of information how to lower your Jeep Patriot insurance premium rates in Chicago. It’s most important to understand that the more companies you get prices for, the more likely it is that you will get a better rate. You may even be surprised to find that the biggest savings come from an unexpected company. Regional companies may cover specific market segments cheaper than the large multi-state companies such as Allstate, GEICO and Progressive.
A few companies may not have rate quotes online and most of the time these regional insurance providers only sell coverage through local independent agents. Low-cost Jeep Patriot insurance in Chicago can be sourced from both online companies in addition to local insurance agencies, so you need to compare both in order to have the best chance of saving money.
Much more information about car insurance in Illinois can be found at the links below
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for College Graduates in Chicago? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for Government Employees? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Homeowners in Chicago? (FAQ)
- What Car Insurance is Cheapest for State Employees in Chicago? (FAQ)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)