Are you a victim of an overpriced auto insurance policy? It’s quite common and there are lots of people in the same boat.
A recent auto insurance study revealed that most auto insurance policyholders in Illinois have remained with the same auto insurance company for at least four years, and practically 40% of auto insurance customers have never even compared quotes to find lower-cost rates. Many drivers in America could save $860 each year by just comparing rate quotes, but most tend to underestimate the rate savings if they switched to a cheaper policy. Since consumers have many options when it comes to auto insurance, it can be hard to locate the best company.
It’s a good habit to shop coverage around yearly because insurance rates are rarely the same from one policy term to another. Just because you had the lowest premium rates on Toyota Rav4 insurance in Chicago last year the chances are good that you can find a lower price today. Block out anything you think you know about auto insurance because we’re going to show you the fastest way to properly buy coverages and cut your premium.
Most larger insurance companies such as Allstate, GEICO and Progressive give prices for coverage direct online. Getting online rates for Toyota Rav4 insurance in Chicago is quite simple because you just enter the coverages you want into the quote form. When complete, the quote system automatically retrieves information on your driving record and credit history and generates pricing information. This makes it simple to compare prices and it’s absolutely necessary to get many rate quotes if you want to get the cheapest price on auto insurance.
If you want to get comparison pricing now, check out the auto insurance providers below. If you have coverage now, it’s recommended you input deductibles and limits as shown on your current policy. Using the same limits helps guarantee you are getting comparison quotes based on similar coverages.
The companies in the list below offer quotes in Illinois. If multiple companies are listed, we recommend you visit several of them to get the lowest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RAV4 Sport 2WD||$176||$344||$250||$14||$76||$860||$72|
|RAV4 Sport 2WD||$250||$500||$352||$20||$106||$1,228||$102|
|RAV4 Limited 4WD||$126||$228||$246||$14||$74||$688||$57|
|RAV4 Limited 2WD||$96||$178||$246||$14||$74||$608||$51|
|RAV4 Limited 2WD||$156||$282||$246||$14||$74||$772||$64|
|RAV4 Limited 2WD||$158||$288||$250||$14||$76||$786||$66|
|RAV4 Limited 4WD||$160||$268||$266||$16||$80||$790||$66|
|RAV4 Sport 4WD||$256||$406||$342||$20||$102||$1,126||$94|
|RAV4 Sport 4WD||$194||$398||$274||$16||$82||$964||$80|
|RAV4 Limited 4WD||$158||$310||$340||$20||$102||$930||$78|
|RAV4 Limited 4WD||$142||$268||$294||$18||$88||$810||$68|
|RAV4 Limited 2WD||$184||$312||$268||$16||$80||$860||$72|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Rate information does not factor in zip code location which can change premium rates significantly.
Tickets and at-fault accidents raise rates
The example below demonstrates how traffic citations and fender-benders can increase Toyota Rav4 car insurance rates for different age categories. The price estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.
The example below illustrates how your deductible choice and can increase or decrease Toyota Rav4 insurance costs for different insured age categories. The costs are based on a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
Insurance is an important decision
Even though it can be expensive, insurance is not optional due to several reasons.
- Just about all states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability 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.
- If you bought your vehicle with a loan, almost all lenders will have a requirement that you have comprehensive coverage to guarantee payment of the loan. If you default on your policy, the lender may have to buy a policy to insure your Toyota at a more expensive rate and require you to fork over for the much more expensive policy.
- Insurance protects not only your vehicle but also your assets. Insurance will also pay for medical transport and hospital expenses incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car more than cancel out the cost, specifically if you ever have a liability claim. But the average driver in Illinois is currently overpaying as much as $810 a year so you should quote your policy with other companies at every policy renewal to save money.
The Toyota Rav4 Insurance Price Equation
An important part of buying insurance is that you know a few of the rating criteria that help determine your policy premiums. When you know what positively or negatively determines premiums, this enables informed choices that will entitle you to lower auto insurance prices. Lots of factors are used in the calculation when pricing auto insurance. Most are fairly basic like a motor vehicle report, but other factors are less apparent such as your marital status or your financial responsibility.
- Low mileage costs less – Driving a lot of miles every year the more it will cost to insure it. Most companies charge rates based upon how much you drive. Autos that do not get driven very much can get a lower rate than those that get driven frequently. Verify your declarations sheet states the proper vehicle usage, because it can save money. An incorrectly rated Rav4 is just wasting money.
- High deductibles cost less – Physical damage coverage, otherwise known as comp (or other than collision) and collision, insures against damage to your Toyota. Examples of covered claims are collision with another vehicle, hitting a deer, or theft. Comp and collision deductibles tell how much you are required to spend out-of-pocket if a covered claim is submitted. The more you pay before a claim is paid (deductible), the lower your rates will be.
- Safer occupants lowers auto insurance rates – Vehicles with good safety scores get lower rates. The safest vehicles help reduce the chance of injuries in an accident and lower injury rates means lower claim amounts which can mean better rates for you.
- Youthful drivers cost more – Beginning drivers in Illinois tend to be careless and easily distracted when driving with friends therefore auto insurance rates are much higher. Older insureds tend to be more responsible, cause fewer claims and accidents, and get fewer tickets.
- Improve your credit rating – Having a bad credit score will be a significant factor in determining your rates. If your credit score can use some improvement, you could be paying less to insure your Toyota Rav4 by repairing your credit. Insureds that have excellent credit tend to be more responsible than drivers who have bad credit.
- Small claims can cost you – If you tend to file frequent claims, you can expect either policy cancellation or increased premiums. Insurance companies in Illinois award the lowest premiums to people who do not file claims often. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Marriage pays dividends – Your spouse can actually save you money when buying auto insurance. Marriage means you’re more mature than a single person and statistics show drivers who are married file infrequent claims.
Cut your car insurance rates with discounts
Car insurance is not inexpensive, but companies offer discounts that could drop your premiums quite a bit. Many of these discounts will be applied automatically when you complete an application, but some discounts are required to be asked for before you get the savings.
- Accident Forgiveness – This one isn’t a discount, but companies like GEICO, State Farm, and Progressive will turn a blind eye to one accident before raising your premiums if you have no claims prior to being involved in the accident.
- Bundled Policy Discount – When you have multiple policies with one insurance company you could save approximately 10% to 15%.
- Discount for Life Insurance – Select companies reward you with a lower car insurance rate if you buy some life insurance in addition to your auto policy.
- No Claims – Claim-free drivers are rewarded with significantly better rates on Chicago auto insurance quote in comparison to policyholders that have many claims.
- Military Deployment Discount – Having an actively deployed family member may qualify for rate reductions.
- Defensive Driver Discount – Completing a defensive driving class could earn you a small percentage discount and easily pay for the cost of the class.
- Payment Method – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
- Club Memberships – Being in certain professional organizations could trigger savings when shopping for car insurance.
- Anti-lock Brakes – Vehicles that have steering control and anti-lock brakes are safer to drive and the ABS can save up to 10%.
- Anti-theft System – Anti-theft and alarm system equipped vehicles help deter theft and that can save you a little bit as well.
A quick disclaimer, most of the big mark downs will not be given to your bottom line cost. The majority will only reduce the cost of specific coverages such as comprehensive or collision. So even though you would think all those discounts means the company will pay you, it just doesn’t work that way.
A partial list of companies that may offer these money-saving discounts include:
When getting a coverage quote, ask each company what discounts are available to you. Some of the discounts discussed earlier might not be available to policyholders everywhere. If you would like to see a list of insurance companies that offer some of these discounts in Chicago, click this link.
Your insurance coverage should be tailored to you
When it comes to adequate coverage for your vehicles, there really isn’t a one-size-fits-all type of policy. You are unique and your policy should reflect that.
For instance, these questions might help in determining whether or not you will benefit from professional help.
- Can my babysitter drive my car?
- What is an SR-22 filing?
- At what point should I drop full coverage?
- Does having multiple vehicles earn me a discount?
- What is GAP insurance?
- What if I total my Toyota Rav4 and owe more than it’s worth?
- Is a new car covered when I drive it off the dealer lot?
- What policy terms are available?
If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.
Buying from car insurance agents
Many people just prefer to talk to a local agent and that is recommended in a lot of cases Professional insurance agents are trained to spot inefficiencies and will help you if you have claims. An additional benefit of comparing insurance prices online is that you can obtain cheap car insurance quotes and also buy local. Putting coverage with neighborhood agents is important particularly in Chicago.
By using this form (opens in new window), the coverage information is transmitted to insurance agents in Chicago that can give you free Chicago auto insurance quotes for your coverage. It simplifies rate comparisons since you won’t have to leave your house since rate quotes are delivered straight to your inbox. If for some reason you want to get a price quote from a particular provider, don’t hesitate to search and find their rate quote page and give them your coverage information.
If you’re trying to find a local Chicago insurance agency, it’s helpful to know the types of agencies and how they can write your policy. Agencies in Chicago can be described as either exclusive or independent (non-exclusive). Either can provide car insurance policies, but it’s worth mentioning the difference in the companies they write for since it can affect the type of agent you choose.
Independent Car Insurance Agents (or Brokers)
Agents that elect to be independent do not work for one specific company and that enables them to quote your coverage with any number of different companies and find the cheapest rate. If your agent finds better pricing, they simply switch companies in-house and that require little work on your part.
If you need cheaper car insurance rates, you absolutely need to include rate quotes from a couple of independent agencies for the best price selection.
Shown below are independent agents in Chicago who can help you get competitive price quotes.
W.A. George Insurance Agency
155 N Michigan Ave #300 – Chicago, IL 60601 – (312) 729-5265 – View Map
Exclusive agencies have only one company to place business with and examples are Allstate, Farmers Insurance or State Farm. Exclusive agents cannot provide prices from multiple companies so you might not find the best rates. These agents are well schooled on what they offer and that enables them to sell even at higher rates.
Shown below are exclusive agencies in Chicago willing to provide price quotes.
Selecting an auto insurance agent needs to be determined by more than just the quoted price. Agents should be asked these questions:
- Can you get a list of referrals?
- How are claims handled?
- Do the companies they represent have a solid financial rating?
- Has the agent ever had any license suspensions?
- How many years of experience in personal auto insurance do they have?
- Do they feel the quoted coverages are adequate?
- How does the company pay claims for a total loss?
Persistent drivers can save
When buying insurance coverage, it’s very important that you do not skimp on coverage in order to save money. In many instances, an insured dropped comprehensive coverage or liability limits and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy the best coverage you can find at a price you can afford, but don’t skip important coverages to save money.
Some car insurance companies may not have online quoting and usually these small insurance companies work with independent agencies. Cost effective Toyota Rav4 insurance can be sourced online in addition to local insurance agencies, and you should be comparing both so you have a total pricing picture.
Much more information about car insurance in Illinois can be found on the following sites:
- Vehicle Insurance (Wikipedia)
- Who Has Cheap Chicago Auto Insurance for a GMC Acadia? (FAQ)
- Who Has Cheap Chicago Auto Insurance for Young Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Homeowners in Chicago? (FAQ)
- How Much are Chicago Auto Insurance Rates for Nurses? (FAQ)
- Prom Night Tips for Teen Drivers (State Farm)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Teen Driver Licensing Information (iihs.org)