Save on Toyota Prius Insurance in Chicago

Insurance for Toyota PriusHow long has it been since you sat down and looked for cheaper auto insurance rates in Chicago, IL? Chicago shoppers have options when shopping for affordable Toyota Prius insurance. They can either spend hours struggling with agents to get rate comparisons or leverage the internet to find the lowest rates.

There is a better way to compare auto insurance rates and we’ll show you the best way to compare rates for your Toyota and get the lowest price from Chicago insurance agents and online providers.

You should make it a habit to get comparison quotes as often as possible because prices are variable and change quite frequently. Just because you found the best rates on Toyota Prius insurance in Chicago six months ago you may be paying too much now. You’ll find a ton of advice on Prius insurance on the web, but in just a couple of minutes you can learn the best ways to slash your auto insurance rates in Chicago.

If you have a current insurance policy or need a new policy, you can use this information to find better prices without reducing coverage. This article’s intent is to teach you how auto insurance companies operate and some money-saving tips. Consumers just have to understand the quickest method to shop from many different companies online.

The providers in the list below are ready to provide comparison quotes in Illinois. If multiple companies are shown, we recommend you get rates from several of them in order to find the most affordable rates.

Toyota Prius Insurance Price Estimates in Chicago, IL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $138 $246 $268 $16 $80 $748 $62
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Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rates do not factor in specific zip code location which can influence price quotes considerably.

Auto insurance deductibles

The information below demonstrates how deductibles and can increase or decrease Toyota Prius annual premium costs for each age group. The price estimates are based on a single female driver, full physical damage coverage, and no policy discounts are applied.

Insurance rate increases from tickets or accidents

The illustration below shows how speeding tickets and at-fault fender-benders influence Toyota Prius auto insurance rates for different categories of driver ages. Data assumes a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.

Choosing deductibles

A question often asked by Chicago drivers is how high should the physical damage coverage deductibles be. The following insurance rates highlight the cost difference between high and low physical damage coverage deductibles. The first set of rates uses a $250 deductible for comp and collision and the second rate chart uses a $500 deductible.

Toyota Prius insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $228 $340 $222 $14 $66 $895 $75
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Toyota Prius insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $186 $274 $222 $14 $66 $762 $64
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in the specific area where the vehicle is garaged which can decrease or increase prices greatly.

Using the premium rates above, we can conclude that using a $250 deductible could cost the average driver approximately $11 more each month or $132 a year than quoting the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you go at least 23 months between claim filings, you would come out ahead if you decide on a higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $250 deductibles: $75
Average monthly premium for $500 deductibles (subtract): – $64
Monthly savings from raising deductible: $11
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $11
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

An important thing to remember is that raising deductibles means you will have to pay more out-of-pocket when you do file a claim. You need to make sure you have some extra savings in order to pay the deductible for vehicle repair.

Insuring your Toyota vehicle just makes sense

Despite the potentially high cost of Toyota Prius insurance, paying for car insurance is required in Illinois but it also protects you in many ways.

First, most states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific minimum amounts of liability insurance in order to drive the car 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.

Second, if you have a loan on your Prius, it’s most likely the lender will make it a condition of the loan that you buy full coverage to guarantee loan repayment. If you do not keep the policy in force, the bank may insure your Toyota at a much higher premium rate and make you pay the higher price.

Third, car insurance protects not only your Toyota but also your financial assets. Insurance will pay for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your car insurance policy will pay to repair the damage minus the deductible amount.

The benefits of insuring your car definitely exceed the cost, especially for larger claims. As of last year, the average driver in Illinois overpays as much as $865 each year so smart consumers compare quotes at every policy renewal to help ensure money is not being wasted.

Chicago auto insurance discounts

Auto insurance is expensive, but you might be missing out on some discounts that could help you make your next renewal payment. Most are applied at the time of purchase, but a few need to be manually applied in order for you to get them.Discount auto insurance

Don’t be surprised that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce the price of certain insurance coverages like medical payments or collision. Despite the appearance that all the discounts add up to a free policy, companies wouldn’t make money that way. But all discounts should help reduce your policy cost.

A list of auto insurance companies and their offered discounts are included below.

When quoting, ask each company or agent which discounts you may be entitled to. A few discounts might not be offered on policies in Chicago. If you would like to view insurers that offer some of these discounts in Illinois, follow this link.

When to have guidance from a local insurance agent

Many people would rather sit down with an agent. Experienced insurance agents can help you choose the best coverages and help you file claims. One of the great benefits of price shopping on the web is you can get the best rates and also buy local. And providing support for local insurance agencies is still important in Chicago.

Insurance agency in ChicagoTo help locate an agent, after submitting this form (opens in new window), the coverage information gets sent to local insurance agents in Chicago who can give free rate quotes to get your business. You don’t have to search for any insurance agencies because prices are sent directly to your email. If you have a need to compare prices for a specific company, just search and find their rate quote page and fill out the quote form the provide.

Choosing the best provider should depend on more than just the premium amount. Any good agent in Chicago should know the answers to these questions.

What is the best insurance coverage?

When selecting a policy for your personal vehicles, there is no best way to insure your cars. Your situation is unique so this has to be addressed.Insurance savings
Here are some questions about coverages that may help highlight whether or not you might need professional guidance.

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you want to speak to an agent in your area, complete this form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.

What is YOUR best insurance company?

When searching for the cheapest Toyota Prius rate quotes, do not skimp on coverage in order to save money. There are too many instances where someone sacrificed physical damage coverage and learned later that the few dollars in savings costed them thousands. Your strategy should be to purchase a proper amount of coverage at the best cost while still protecting your assets.

Lower-priced Toyota Prius insurance in Chicago is available from both online companies as well as from independent agents in Chicago, and you need to price shop both to have the best selection. A few companies don’t offer internet price quotes and many times these regional carriers prefer to sell through independent agencies.

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