How to Save on Car Insurance in Chicago

How long has it been since you compared quotes for low-cost insurance rates in Chicago, IL? Using the web to shop for Chicago car insurance quotes online may seem complicated initially if you are one of the many people new to online price comparisons. Don’t let the process intimidate you because we’re going to show you how.

Unbelievable but true, a large majority of drivers in Illinois renewed their policy with the same company for four years or more, and 38% of customers have never shopped around. Drivers in the United States could cut their rates by up to $859 a year just by getting comparison quotes, but they don’t believe the rate savings if they switched to a cheaper policy.

These tips will tell you how auto insurance companies operate and how you can save the most money. If you have a current insurance policy, you will most likely be able to save money using the techniques covered below. Nevertheless, Illinois consumers can benefit by having an understanding of how companies sell insurance online.

Chicago auto insurance premiums are influenced by these factors

Many different elements are part of the calculation when premium rates are determined. Some factors are common sense such as your driving record, although others are less obvious such as whether you are married or your commute time. Consumers need to have an understanding of some of the elements that play a part in calculating the rates you pay for auto insurance. If you have a feel for what determines base rates, this allows you to make educated decisions that could result in big savings.

Shown below are a few of the things used by insurance companies to determine your rate level.

When comparison shopping, comparing a large number of companies will increase your chances of finding a lower rate than you’re paying now. Some regional insurers cannot provide rate quotes online, so you also need to get prices from them as well.

The providers in the list below can provide free rate quotes in Chicago, IL. If the list has multiple companies, we suggest you click on several of them to find the most affordable auto insurance rates.

Insurance Costs for Popular Vehicles in Chicago
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Equinox LT 2WD $700 $350 $58
Chevrolet Impala LS $684 $342 $57
Chevrolet Silverado Crew Cab Hybrid 2WD $758 $379 $63
Dodge Ram Crew Cab Laramie 2WD $1,030 $515 $86
Ford Escape Limited 4WD $844 $422 $70
Ford Explorer Limited 4WD $1,022 $511 $85
Ford F-150 XL Regular Cab 2WD $766 $383 $64
Ford Focus SE 2-Dr Coupe $912 $456 $76
Ford Fusion Sport AWD 4-Dr Sedan $942 $471 $79
Honda Accord EX-L 2-Dr Coupe $1,062 $531 $89
Honda CR-V EX-L 2WD $762 $381 $64
Honda Civic LX 2-Dr Coupe $1,068 $534 $89
Hyundai Elantra SE Touring Station Wagon $844 $422 $70
Nissan Altima 3.5 SR 4-Dr Sedan $982 $491 $82
Nissan Rogue SL 2WD $830 $415 $69
Toyota Camry SE $838 $419 $70
Toyota Corolla LE $840 $420 $70
Toyota RAV4 Limited 4WD $820 $410 $68
Toyota Tacoma Double Cab 4WD $786 $393 $66
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Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Prices do not factor in specific zip code location which can affect premiums greatly.

Comparison of auto insurance rates by age and gender in Chicago

The example below shows the difference between auto insurance rates for male and female drivers in Chicago. The rates are based on a clean driving record, no at-fault accidents, full coverage, $500 deductibles, drivers are not married, and no other discounts are factored in on a Ford Focus SE.

Ford Focus rates are for example purposes only. To get rate quotes for your specific vehicle, click here.

An analysis of deductible level

When buying auto insurance, a common question is the level to set your comp and collision deductibles. The comparisons below show the rate differences when you choose different deductibles. The first set of rates uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $500 deductible.

GMC Acadia rates are for example purposes only. To get rates for your specific vehicle, click here.

GMC Acadia insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Acadia SL 2WD $176 $280 $262 $16 $78 $837 $70
Acadia SL AWD $202 $280 $262 $16 $78 $863 $72
Acadia SLE 2WD $202 $280 $262 $16 $78 $863 $72
Acadia SLE AWD $202 $340 $262 $16 $78 $923 $77
Acadia SLT 2WD $202 $340 $262 $16 $78 $923 $77
Acadia SLT AWD $228 $340 $262 $16 $78 $949 $79
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GMC Acadia insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Acadia SL 2WD $142 $226 $262 $16 $78 $724 $60
Acadia SL AWD $164 $226 $262 $16 $78 $746 $62
Acadia SLE 2WD $164 $226 $262 $16 $78 $746 $62
Acadia SLE AWD $164 $274 $262 $16 $78 $794 $66
Acadia SLT 2WD $164 $274 $262 $16 $78 $794 $66
Acadia SLT AWD $186 $274 $262 $16 $78 $816 $68
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium amounts do not factor in vehicle garaging location which can raise or lower prices substantially.

Based on the above data, using a $250 deductible costs roughly $11 more each month or $132 for a full year than quoting the higher $500 deductible. Because you would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you normally go at least 23 months between claim filings, you would save more money if you elect the higher deductible.

Auto insurance deductibles

The chart below shows how different deductible levels and can increase or decrease Chevrolet Tahoe premium costs for different insured age categories. The rates are based on a single male driver, full physical damage coverage, and no policy discounts are applied.

Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.

Do drivers who switch really save $449 a year?

Progressive, GEICO, Allstate and State Farm seem to constantly run ads on TV and radio. All the companies make an identical promise that drivers can save some big amount if you just switch to their company. How is it possible that every company can make the same claim? You have to listen carefully.

All the different companies offer their best rates for the driver that will add to their bottom line. A good example of this type of insured might be between 30 and 50, owns a home, and the vehicle is rated for pleasure use. A driver that matches those criteria will probably get the lowest auto insurance rates and will also save a lot of money.

Insureds who cannot meet these stringent criteria will be charged higher premiums which results in the customer buying from someone else. The ads say “people who switch” not “everyone that quotes” can get the lowest rates when switching. This is how insurance companies can confidently claim big savings.

Different companies use different criteria so it’s extremely important to do a price quote comparison at every renewal. Because you never know the company that will provide the lowest car insurance in Chicago.

Buying the right vehicle insurance in Illinois is an important decision

Despite the fact that car insurance is not cheap in Chicago, insurance is a good idea for several reasons.

The benefits of carrying enough insurance outweigh the cost, especially when you need to use it. As of last year, the average driver in Illinois is wasting up to $810 a year so shop around each time the policy renews to be sure current rates are still competitive.

Auto insurance policy discounts

Companies offering auto insurance don’t always publicize their entire list of discounts very well, so we break down a few of the more common and the more hidden savings tricks you should be using when you buy Chicago car insurance online.Cheaper auto insurance with discounts

As a sidenote, some of the credits will not apply to the whole policy. Most only reduce the cost of specific coverages such as medical payments or collision. Even though it may seem like you can get free auto insurance, auto insurance companies aren’t that generous. Any amount of discount should help lower your policy premium.

A few of the larger companies and a selection of discounts are outlined below.

It’s a good idea to ask each insurance company to apply every possible discount. All car insurance discounts may not apply in Chicago. To find insurers who offer auto insurance discounts in Chicago, click here to view.

When should I get advice from a local insurance agent?

Many drivers still like to sit down with an agent and doing that can be a smart decision A good thing about comparing insurance online is that you can find cheap insurance quotes and also buy local. Putting coverage with local insurance agents is important particularly in Chicago.

Insurance agents in ChicagoBy using this short form, your insurance coverage information is submitted to agents in your area that can give you free Chicago car insurance quotes for your business. It’s much easier because you don’t need to find an agent as quotes are delivered to you directly. You can get cheaper insurance rates AND a local agent. If you need to quote rates from a specific company, you can always find their quoting web page and fill out the quote form the provide.

Exclusive agents vs. Independent agents

If you’re trying to find a good Chicago insurance agent, there are a couple of different types of agents and how they can write your policy. Agents in Chicago may be either independent or exclusive depending on the company they work for.

Independent Insurance Agents

Independent agents do not sell for just one brand so they can write business with any number of different companies depending on which coverage is best. To move your coverage to a new company, the agent simply finds a different carrier and you can keep the same agent.

When comparing rate quotes, you should always get insurance quotes from multiple independent agents so that you have a good selection of quotes to compare. They also have the ability to place coverage with smaller regional carriers that may have much lower rates than larger companies.

Shown below is a list of independent agents in Chicago that can possibly get you cheap rate quotes.

View more Chicago agents

Exclusive Insurance Agencies

These agents write business for a single company like State Farm, Allstate, and Farm Bureau. They generally cannot compare rates from other companies so you might not find the best rates. They are very knowledgeable on sales techniques which helps overcome the inability to quote other rates. Consumers frequently use the same exclusive agent primarily because of loyalty to the company rather than having low rates.

The following is a short list of exclusive insurance agencies in Chicago willing to provide comparison quotes.

View more Chicago agents

Finding a good auto insurance agent requires more thought than just the premium amount. A good agent in Chicago will have answers to these questions.

Special considerations

When selecting adequate coverage for your vehicles, there really isn’t a “perfect” insurance plan. Your situation is unique.Drive safe and save

For example, these questions could help you determine if your situation would benefit from professional advice.

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.

Car insurance claim statistics

Are you driving a high-claim vehicle? The statistics below show the best and worst vehicles for the probability of having large claims organized by coverage.

Vehicle Models with the Lowest and Highest Comprehensive Insurance Claims
Lowest Claims Highest Claims
Ford F-350 Maserati Quattroporte
GMC Sierra 2500 Bentley Continental GT
Chevy Spark BMW M6
Infiniti QX50 Audi S7
Volvo V60 Porsche Panamera GTS
Chevy Silverado 2500 Maserati Granturismo

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Bodily Injury Liability Claims by Manufacturer Model
Lowest Claims Highest Claims
Volvo XC60 Mitsubishi Mirage
Audi A6 Hyndai Accent
Mercedes-Benz SL Class Chrysler 200
Subaru Outback Dodge Charger
Subaru Forester Kia Optima
Chevrolet Corvette Kia Rio

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lowest and Highest Car Insurance Collision Claims by Vehicle Make and Model
Lowest Claims Highest Claims
Ford F-150 SuperCrew Maserati Granturismo
Jeep Wrangler Bently Continental GTC
Mini Cooper Audi RS7
Chevrolet Colorado BMW 6 Series
Nissan Xterra Bentley Continental Flying Spur
Ford Edge BMW M6

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lowest and Highest Medical Payment Insurance Claims by Vehicle
Lowest Claims Highest Claims
Chevrolet Silverado 2500 Chevrolet Spark
Chevrolet Silverado 3500 Chrysler 200
Ford F-250 SuperCrew Mitsubishi Mirage
Chevrolet Corvette Kia Forte
Land Rover Range Rover Sport Chevrolet Sonic
Ford Expedition Hyundai Accent

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Frequent quotes can save

Insureds leave their current company for a number of reasons such as denial of a claim, extreme rates for teen drivers, high rates after DUI convictions or even not issuing a premium refund. It doesn’t matter what your reason, switching companies can be less work than you think.

As you prepare to switch companies, don’t be tempted to reduce coverage to reduce premium. In many cases, an accident victim reduced collision coverage only to regret that they should have had better coverage. Your aim should be to get the best coverage possible at the best price, but do not sacrifice coverage to save money.

We just presented a lot of information how to compare insurance car insurance rates in Chicago. The key thing to remember is the more rate comparisons you have, the higher the chance of saving money. You may even discover the biggest savings come from a smaller regional carrier.

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