Would you like to find lower-priced insurance rates in Chicago, IL? Chicago consumers have lots of choices when looking for affordable Ford Five Hundred insurance. They can either waste time struggling with agents getting price quotes or save time using the internet to compare rates. There is a better way to find insurance online so you’re going to learn the best way to price shop coverage on a Ford and locate the best price possible from Chicago insurance agents and online providers.
Sad but true, almost 70% of drivers in Illinois kept their coverage with the same insurance company for a minimum of four years, and almost half have never compared quotes from other companies. Most drivers in the United States could save nearly $860 a year just by getting comparison quotes, but most undervalue the large savings they would see if they switch to a new company.
Buying the cheapest auto insurance in Chicago is much easier if you know where to start. If you have auto insurance now, you stand a good chance to be able to cut your premiums using the ideas covered in this article. Consumers only need an understanding of the most efficient way to shop their coverage around online.
Affordable auto insurance in Chicago, IL
The companies shown below are ready to provide quotes in Chicago, IL. If multiple providers are shown, it’s a good idea that you visit two to three different companies to get a more complete price comparison.
Insurance discounts are available to cut your rates
Insurance is not an enjoyable expense, but you might find some hidden discounts to help bring down the price. Certain reductions will be credited when you purchase, but occasionally some discounts must be requested specifically before being credited. If you do not double check each discount you deserve, you could be saving more on your insurance.
- Full Payment Discount – If you pay your entire premium ahead of time rather than spreading payments over time you could save 5% or more.
- Bundle and Save – If you can bundle your home and auto insurance with the same insurance company you could get a discount of up to 20% and get you the cheapest Ford Five Hundred insurance in Chicago.
- Student Discounts – Maintaining excellent grades may save as much as 25% on a Chicago auto insurance quote. The good student discount can last well after school through age 25.
- Driver’s Education for Students – Teen drivers should successfully complete driver’s ed class if offered at their school.
- Seat Belts Save – Forcing all vehicle occupants to use a seat belt could cut 10% or more off the personal injury premium cost.
- Sign Online – Many insurance companies will provide an incentive for buying a policy and signing up over the internet.
- Senior Citizen Rates – If you qualify as a senior citizen, you could receive reduced rates.
- Air Bag Discount – Factory options such as air bags and/or automatic seat belt systems may get savings of up to 25% or more.
- Own a Home – Just being a homeowner can get you a discount because it demonstrates responsibility.
Discounts save money, but please remember that some credits don’t apply to the whole policy. Most cut the cost of specific coverages such as liability and collision coverage. Even though it may seem like having all the discounts means you get insurance for free, it’s just not the way it works.
For a list of companies that offer multiple discounts in Illinois, click this link.
Eight factors that affect insurance rates
Lots of factors are part of the calculation when quoting car insurance. Some are obvious like a motor vehicle report, but some are not as apparent such as your credit history or how financially stable you are. When buying auto insurance it’s important to understand some of the factors that come into play when calculating the rates you pay for auto insurance. When you understand what determines base rates, this helps enable you to make changes that can earn you lower auto insurance prices.
The list below includes just a few of the factors utilized by car insurance companies to help set your rate level.
- Higher prices for specific vocations – Jobs such as military personnel, social workers and medical professionals generally have the highest average rates because of intense work requirements and incredibly demanding work hours. On the other hand, professions such as professors, students and retirees pay the least.
- Prices also based on gender – Statistics have proven women tend to be less risk to insure than men. Now that doesn’t mean men are WORSE drivers than women. Both genders have accidents at a similar rate, but men get into accidents with more damage. Men also statistically receive more costly citations like driving under the influence (DUI). Young males have the highest risk to insure and therefore are the most expensive to insure.
- Do safer cars cost less to insure? – Vehicles that have high safety ratings tend to have better insurance rates. These vehicles reduce occupant injuries and fewer serious injuries translates directly to fewer claims passed on to you as lower rates. If your Ford Five Hundred scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org it may cost less to insure.
- Prevent auto insurance policy lapses – Having a gap between insurance policy dates will be a guaranteed way to increase your renewal premiums. In addition to paying higher rates, being ticketed for driving with no insurance might get you fines or a revoked license.
- If you don’t need it don’t buy it – There are quite a few extra coverages that you can buy if you don’t pay attention. Things like personal injury protection, accidental death, and extra life insurance coverage may be costing you every month. You may think they are a good idea initially, but if you’ve never needed them in the past remove them from your policy.
- Performance makes a difference – The make and model of the vehicle you need insurance for makes a substantial difference in your rates. Due to the fact that the Ford Five Hundred is a passenger car, insuring your vehicle will cost similar in price or lower when compared to the average rates in Chicago. Small economy passenger cars usually are quite affordable to insure, but many other things help determine your insurance rates.
- Physical damage deductibles are a factor – Protection for physical damage, also called ‘full coverage’, covers your vehicle from damage. Examples of covered claims would be a windshield shattered by a rock, damage from fire, and windstorm damage. Comprehensive and collision coverage deductibles are the amount of money you are required to pay if a covered claim is submitted. The more of the claim you choose to pay out-of-pocket, the less money you will pay for auto insurance.
- How credit rating affects auto insurance costs – Having a good credit rating factor in determining what you pay for auto insurance. People with high credit ratings tend to be more responsible than those with lower ratings. If your credit rating could use some work, you could save money insuring your Ford Five Hundred if you clean up your credit.
Independent and exclusive car insurance agents
Many drivers prefer to go talk to an agent and doing so can bring peace of mind Most agents can answer important questions and help submit paperwork. The best thing about comparing rate quotes online is that you can find lower rates and still have a local agent.
Upon completion of this form (opens in new window), your coverage information is emailed to local insurance agents in Chicago who will give you quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to visit any agencies due to the fact that quote results will go directly to your email. If you need to get a rate quote from a specific insurance provider, just navigate to their website and complete a quote there.
Selecting an company needs to be determined by more than just the bottom line cost. Here are some questions you should ask.
- Are you getting all the discounts the company offers?
- Will they take your side in the event of a claim?
- Do they assist clients in filing claims?
- Does the agency have a positive business rating?
- Do they receive special compensation for putting your coverage with one company over another?
- How long has their agency been in business in Chicago?
- Can they provide you with a list of referrals?
Types of auto insurance agents
If you want to buy insurance from a local agent, there are a couple of different types of agencies that you can select. Insurance agents in Chicago can either be independent or exclusive depending on the company they work for. Either can sell affordable insurance policies, but it’s a good idea to understand the differences since it could factor into the type of agent you choose.
Exclusive Insurance Agencies
Agents that choose to be exclusive work for only one company and some examples include AAA, State Farm, Farmers Insurance, and Allstate. They are unable to provide other company’s prices so they have no alternatives for high prices. They are very knowledgeable in insurance sales and that enables them to sell even at higher rates. Drivers often use the same agent mostly because of the prominent brand name and strong financial ratings.
Shown below is a list of exclusive agents in Chicago that are able to give price quote information.
- Greg King – State Farm Insurance Agent
5508 S Lake Park Ave – Chicago, IL 60637 – (773) 643-6200 – View Map
- Allstate Insurance: Maribel Marron
3060 W Armitage Ave – Chicago, IL 60647 – (773) 572-9495 – View Map
- Mark Yun – State Farm Insurance Agent
223 W Cermak Rd, Fl-2 – Chicago, IL 60616 – (312) 225-8311 – View Map
These agents often have affiliation with several companies so they can write business with a variety of different insurance companies and find the cheapest insurance rates. If your agent finds better pricing, your policy is moved internally without you having to go to a different agency. When comparison shopping, it’s a good idea to get rate quotes from a couple of independent agencies to have the best price comparison. Most independent agents also contract with small mutual carriers which could offer lower prices.
Below is a list of independent insurance agencies in Chicago that can give you price quote information.
- Talro Insurance Agency
4900 W Belmont Ave – Chicago, IL 60641 – (773) 205-8255 – View Map
- Serpe Insurance Agency
2538 N Lincoln Ave – Chicago, IL 60614 – (773) 871-0808 – View Map
- American Auto Insurance
3201 N Harlem Ave #1 – Chicago, IL 60634 – (773) 286-3500 – View Map
Lower rates by being persistent
Cost effective Ford Five Hundred insurance can be sourced from both online companies as well as from independent agents in Chicago, so you should be comparing quotes from both to have the best selection. Some companies do not offer price quotes online and usually these regional insurance providers work with independent agencies.
You just learned a lot of ways to shop for Ford Five Hundred insurance online. The most important thing to understand is the more companies you get premium rates for, the more likely it is that you will get a better rate. Consumers may even find the best auto insurance rates are with some of the smallest insurance companies.
Consumers change insurance companies for many reasons like unfair underwriting practices, an unsatisfactory settlement offer, lack of trust in their agent or poor customer service. Regardless of your reason for switching companies, finding the right car insurance provider can be easy and end up saving you some money.
More detailed car insurance information can be found at these sites:
- Credit and Insurance Scores (Insurance Information Institute)
- Who Has Cheap Chicago Auto Insurance for a GMC Acadia? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for High School Students in Chicago? (FAQ)
- Who Has Cheap Chicago Auto Insurance Quotes for a 20 Year Old Male? (FAQ)
- What Auto Insurance is Cheapest for Teachers in Chicago? (FAQ)
- Bodily Injury Coverage (Liberty Mutual)
- Neck Injury FAQ (iihs.org)
- Top Signs Your Brakes are Giving Out (State Farm)
- Safety Tips for Teen Drivers (Insurance Information Institute)