Would you like to save money by finding low-cost BMW 325i insurance in Chicago? No one in their right mind loves paying for auto insurance, especially knowing they are paying too much.
Statistics show that nearly 70% of consumers have purchased from the same company for four years or more, and practically 40% of auto insurance customers have never compared rates with other companies. Chicago drivers could save an average of roughly $586 each year, but most tend to underestimate the amount of money they would save if they switch to a new company. Because you have many companies to choose from that have cheaper insurance for a BMW 325i in Chicago, it is very difficult to locate the lowest price auto insurance company.
Consumers need to compare rates once or twice a year because prices fluctuate regularly. If you had the best rates on BMW 325i insurance in Chicago on your last policy you can probably find a better premium rate now. You’ll find a ton of advice on 325i insurance out there, but we’re going to give you some great ideas on how to quit paying high auto insurance rates in Chicago.
The following companies offer free quotes in Chicago, IL. If multiple providers are shown, it’s a good idea that you compare several of them to get the cheapest price.
Why you need insurance for your vehicle
Even though Chicago 325i insurance rates can get expensive, insuring your vehicle is required in Illinois but it also protects you in many ways.
- Most states have compulsory liability insurance requirements which means state laws require a specific level of liability if you want to drive 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 BMW has a loan, most banks will make it a condition of the loan that you have full coverage to guarantee their interest in the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your BMW at an extremely high rate and force you to pay for the much more expensive policy.
- Auto insurance preserves both your BMW and your personal assets. It will also provide coverage for many types of medical costs for yourself as well as anyone injured by you. Liability coverage also pays expenses related to your legal defense if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of having auto insurance outweigh the cost, especially with large liability claims. On average, a vehicle owner in Chicago is overpaying over $810 a year so you should quote rates at every renewal to make sure the price is not too high.
Lower rate quotes by taking advantage of discounts
Auto insurance companies don’t always list the entire discount list very clearly, so below is a list both the well known as well as some of the hidden savings tricks you should be using when you buy Chicago car insurance online.
- Military Rewards – Being deployed in the military may lower your rates slightly.
- Low Mileage – Low mileage vehicles could earn lower prices due to less chance of an accident.
- 55 and Retired – Mature drivers may be able to get reduced rates.
- Professional Organizations – Participating in a qualifying organization can get you a small discount on your bill.
- Distant Student Discount – Any of your kids who live away from home to go to college and won’t have access to an insured vehicle can be insured at a reduced rate.
- Save with More Vehicles Insured – Buying a policy with multiple cars with the same insurance company qualifies for this discount.
It’s important to note that most credits do not apply to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears you would end up receiving a 100% discount, it’s just not the way it works.
If you would like to view providers who offer discounts in Illinois, follow this link.
Local insurance agents
Many people would rather talk to an insurance agent. Experienced insurance agents are highly skilled in risk management and will help you if you have claims. A nice benefit of comparing rates online is that you can find lower car insurance rates and still have a local agent. Putting coverage with neighborhood insurance agencies is important especially in Chicago.
To make it easy to find an agent, after completing this short form, your insurance coverage information is emailed to local insurance agents in Chicago that give free quotes for your insurance coverage. There is no need to drive around as quotes are delivered immediately to you. If you have a need to quote rates for a specific company, you can always go to their quote page and submit a quote form there.
Choose the right auto insurance agent
When searching for a reliable insurance agency, there are a couple of types of agencies and how they can write your policy. Agents are categorized either independent or exclusive depending on the company they work for. Both handle insurance, but it’s important to point out how they differ because it can influence the selection process.
Independent Insurance Agencies
Agents that choose to be independent are not required to write business for one company so they can insure your vehicles with an assortment of companies enabling the ability to shop coverage around. If they find a lower price, they simply move the coverage in-house which is easy for the insured. When comparing rates, you absolutely need to check rates from at least one independent agent to have the best price comparison.
Featured below is a list of independent insurance agencies in Chicago that may be able to provide free rate quotes.
KSA Insurance Agency
7158 W Grand Ave – Chicago, IL 60707 – (773) 804-9000 – View Map
These type of agents work for only one company such as State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot provide rate quotes from other companies so they really need to provide good service. Exclusive agents are trained well on their company’s products which aids in selling service over price.
Listed below is a short list of exclusive agents in Chicago that are able to give comparison quotes.
Choosing an auto insurance agent is decision based upon more than just a low price. Any agent in Chicago should be forthright in answering these questions:
- Can glass repairs be made at your home?
- Is the coverage adequate for your vehicle?
- Does the company use OEM repair parts?
- Do they offer accident forgiveness?
- Is every driver in your family covered?
- What is their Better Business Bureau rating?
- How long has their agency been in business in Chicago?
- Do they prorate repair cost based on vehicle mileage?
Persistent drivers can save
Some companies do not provide price quotes online and most of the time these small, regional companies sell through independent agencies. Budget-friendly car insurance in Chicago can be purchased from both online companies and with local Chicago insurance agents, so you should compare both in order to have the best price selection to choose from.
We’ve covered a lot of tips how to get a better price on BMW 325i insurance in Chicago. The key concept to understand is the more rate comparisons you have, the higher your chance of finding affordable Chicago car insurance quotes. You may even find the best price on car insurance is with a company that doesn’t do a lot of advertising. Regional companies can often provide lower prices in certain areas compared to the large companies like State Farm and Allstate.
Even more information can be read by following these links:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- What Insurance is Cheapest for a Toyota Tacoma in Chicago? (FAQ)
- Who Has Cheap Chicago Auto Insurance Quotes for a 20 Year Old Male? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- Auto Insurance Learning Center (State Farm)