How long has it been since you compared lower-priced insurance rates in Chicago, IL? Chicago drivers have many options when trying to find the best price on Chevy Cobalt insurance. They can either waste time calling around to compare prices or utilize the internet to compare rates.
There are more efficient ways to find insurance online and you need to know the proper way to get price quotes on a Chevy and obtain the best price possible from both online companies and Chicago agents.
Free Chicago Chevy Cobalt insurance rate quotes
Finding cheap Chicago insurance rates is a fairly straight forward process. The only thing you need to do is spend a few minutes to compare rate quotes from different insurance companies.
The companies shown below can provide price quotes in Chicago, IL. If multiple providers are shown, it’s a good idea that you visit as many as you can to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cobalt LS 4-Dr Sedan||$104||$284||$384||$22||$114||$908||$76|
|Cobalt XFE 4-Dr Sedan||$138||$364||$384||$22||$114||$1,022||$85|
|Cobalt LS 2-Dr Coupe||$108||$246||$368||$22||$110||$854||$71|
|Cobalt XFE 2-Dr Coupe||$202||$400||$326||$20||$98||$1,046||$87|
|Cobalt LT 4-Dr Sedan||$218||$468||$300||$18||$90||$1,094||$91|
|Cobalt LT 2-Dr Coupe||$120||$246||$368||$22||$110||$866||$72|
|Cobalt SS Turbo 2-Dr Coupe||$206||$420||$326||$20||$98||$1,070||$89|
|Get Your Own Custom Quote Go|
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rate information does not factor in vehicle location which can influence coverage rates greatly.
Full coverage versus liability only rates
The example below visualizes the comparison of Chevrolet Cobalt yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no violations or accidents, $100 deductibles, married male driver, and no discounts are applied to the premium.
Deciding between full coverage and liability only
There is no specific rule to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Chevrolet Cobalt settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $5,000 after paying your deductible. If you are paying over $500 annually for your policy with full coverage, then you may want to consider only buying liability coverage.
There are a few cases where dropping full coverage is not advised. If you haven’t satisfied your loan, you have to maintain full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Physical damage deductibles: Should you raise them?
The chart below illustrates how your deductible choice and can raise or lower Chevrolet Cobalt insurance costs for each different age category. The data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied.
Three reasons auto insurance is important
Even though it can be expensive, maintaining insurance serves an important purpose.
- Almost all states have minimum liability requirements which means state laws require specific minimum amounts of liability insurance coverage if you drive a vehicle. 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 Chevy has a loan, most banks will require you to buy insurance to guarantee payment of the loan. If coverage lapses or is canceled, the bank may buy a policy for your Chevy at a much higher premium rate and force you to pay much more than you were paying before.
- Insurance protects not only your car but also your assets. It will also reimburse you for medical bills incurred in an accident. Liability coverage, the one required by state law, will also pay to defend you if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, your auto insurance policy will cover the repair costs.
The benefits of having auto insurance more than offset the price you pay, especially when you need to use it. Unknowingly, the average driver is wasting up to $865 each year so compare rate quotes at every policy renewal to make sure the price is not too high.
Do you qualify for discounts on Chevy Cobalt insurance in Chicago?
Insurance can cost an arm and a leg, but you might find some hidden discounts to cut the cost considerably. Some discounts apply automatically when you complete an application, but some may not be applied and must be asked about before being credited.
- Distant College Student Discount – Older children who are enrolled in a college that is more than 100 miles from Chicago and do not take a car to college may be able to be covered for less.
- E-sign – Many auto insurance companies may give you up to $50 simply for signing over the internet.
- Chicago Homeowners Pay Less – Owning a house in Chicago can help you save on auto insurance due to the fact that maintaining a home demonstrates responsibility.
- Theft Deterrent System – Cars, trucks, and SUVs optioned with advanced anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
- Driver Safety – Successfully completing a defensive driving course could save 5% or more and easily recoup the cost of the course.
- One Accident Forgiven – Not a discount per se, but a handful of insurance companies will forgive one accident without raising rates if you are claim-free for a certain period of time.
- No Claim Discounts – Good drivers with no accidents can earn big discounts in comparison to bad drivers.
Remember that most of the big mark downs will not be given to the entire policy premium. Some only apply to the price of certain insurance coverages like liability and collision coverage. Even though it appears adding up those discounts means a free policy, nobody gets a free ride.
Some of the larger companies that may offer quotes with these discounts include:
Double check with each insurance company the best way to save money. Discounts may not apply to policyholders in your state. To view companies with discount auto insurance rates in Chicago, click here to view.
When should I get advice from an agent?
Many people just prefer to talk to a local agent and that is just fine! Licensed agents are very good at helping people manage risk and will help you if you have claims. An additional benefit of comparing rates online is that drivers can save money and get lower premium rates and still choose a local agent. Supporting local agents is important especially in Chicago.
By using this form (opens in new window), your information is sent to local insurance agents that can give you free Chicago auto insurance quotes for your insurance coverage. You won’t need to contact any agents because quoted prices will be sent directly to your email. If you want to get a rate quote from a specific insurance provider, don’t hesitate to search and find their rate quote page and give them your coverage information.
If you want a local insurance agency, there are two different types of agencies and how they are slightly different. Insurance policy providers can be categorized as either independent (non-exclusive) or exclusive. Both can sell insurance policies, but we need to point out the difference between them since it may influence the type of agent you choose.
Independent Agencies or Brokers
Agents of this type are appointed with more than one company and that enables them to quote your coverage through many companies and get the cheapest rates. If your agent finds better pricing, the agent simply finds a different carrier which requires no work on your part.
When comparison shopping, you absolutely need to contact independent agents for the best price selection. Most independent agents also contract with smaller mutual companies which may provide better rates.
Featured below are Chicago independent insurance agents that may be able to provide comparison quotes.
- Skyline Insurance Agency, Inc.
2302 W Belmont Ave – Chicago, IL 60618 – (773) 525-7500 – View Map
- Great Northern Insurance Agency
5632 S Pulaski Rd – Chicago, IL 60629 – (773) 838-3900 – View Map
- W.A. George Insurance Agency
155 N Michigan Ave #300 – Chicago, IL 60601 – (312) 729-5265 – View Map
Agents in the exclusive channel can only write with one company such as Farmers Insurance and State Farm. They generally cannot provide other company’s prices so they have no alternatives for high prices. Exclusive agencies are well trained on sales techniques which can be an advantage. Consumers frequently purchase coverage from exclusives partially due to the prominence of the brand instead of buying on price only.
Listed below is a list of exclusive agents in Chicago willing to provide comparison quotes.
- Judith Gleason – State Farm Insurance Agent
2643 N Harlem Ave – Chicago, IL 60707 – (773) 637-8547 – View Map
- Sylvia Torres Underhill – State Farm Insurance Agent
2422 S Oakley Ave – Chicago, IL 60608 – (773) 376-1166 – View Map
- Dave Rundle – State Farm Insurance Agent
4316 W 63rd St – Chicago, IL 60629 – (773) 735-0135 – View Map
Choosing the best auto insurance agent requires you to look at more than just the bottom line cost. Any good agent in Chicago should know the answers to these questions.
- Are claim adjusters local or do you have to take your car somewhere else?
- What are the financial ratings for the companies they represent?
- Do they have cheaper tiers of coverage?
- Are you getting all the discounts the company offers?
- Do you work with a CSR or direct with the agent?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Are they involved in claim handling?
- When do they do a full risk review?
Once you have received reasonable responses to your questions and a good coverage price, it’s possible that you found a car insurance agent that meets the requirements to properly insure your vehicles.
Affordable car insurance is out there
Consumers leave their current company for a number of reasons such as policy cancellation, poor customer service, high rates after DUI convictions or even lack of trust in their agent. Regardless of your reason for switching companies, choosing a new company is actually quite simple.
Cost effective Chevy Cobalt insurance can be found from both online companies as well as from independent agents in Chicago, and you should compare rates from both so you have a total pricing picture. Some insurance providers do not provide online rate quotes and these smaller companies sell through independent agents.
As you prepare to switch companies, it’s very important that you do not buy poor coverage just to save money. In many cases, an accident victim reduced collision coverage only to regret at claim time they didn’t have enough coverage. The aim is to purchase plenty of coverage at an affordable rate, but do not skimp to save money.
Other learning opportunities
- What is Full Coverage? (Allstate)
- How Much are Car Insurance Quotes for 19 Year Olds in Chicago? (FAQ)
- Who Has Affordable Chicago Car Insurance Rates for Good Students? (FAQ)
- Who Has Affordable Car Insurance for Teenage Males in Chicago? (FAQ)
- Avoiding Deer Collisions (Insurance Information Institute)
- What is a Telematics Device? (Allstate)
- Parking Tips to Reduce Door Dings (State Farm)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)