Want to learn how to save money and find more affordable Volvo S60 insurance in Chicago? Do you think you bought an underperforming, overpriced insurance policy? It’s a common feeling and there are many Chicago drivers thinking the same thing.
It’s shocking but a large majority of consumers kept their coverage with the same insurance company for at least the last four years, and approximately 38% of consumers have never quoted insurance rates at all. Many consumers in the U.S. could save about $850 each year by just shopping around, but they think it’s difficult to compare rates and save money. Many car insurance companies compete for your hard-earned dollar, so it can be very hard to choose a provider and get the best coverage at the best rates possible on Volvo S60 insurance in Chicago.
It’s a good habit to check insurance prices every six months since insurance prices are usually higher with each renewal. Even if you got the lowest price on Volvo S60 insurance in Chicago six months ago you will most likely find a better rate today. Ignore everything you know about insurance because I’m going to let you in on the secrets to the things you must know in order to buy cheaper Volvo S60 insurance in Chicago.
If you are insured now or are looking for a new policy, follow these tips to cut your premiums while maximizing coverage. Buying the cheapest auto insurance in Chicago is really quite easy. Smart buyers just need to learn the proper way to quote multiple rates instantly.
Lowering your Volvo S60 car insurance rates can be relatively painless. All you need to do is spend a little time to compare rate quotes from some recommended companies.
Doing price comparisons online is so simple that it replaces the need to physically go to local Chicago insurance agencies. The internet has reduced the need for local agents unless you have a need for the extra assistance of a local Chicago agent. It is possible to price shop your coverage online but buy the policy through an agent.
The following companies are ready to provide price comparisons in Chicago, IL. If the list has multiple companies, we suggest you click on several of them to get the best price comparison.
Three reasons to not skimp on auto insurance
Even though it can be expensive, maintaining insurance is required for several reasons.
- The majority of states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance 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 you bought your Volvo S60 with a loan, it’s guaranteed your bank will force you to have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender may insure your Volvo at a significantly higher premium and force you to pay a much higher amount than you were paying before.
- Auto insurance preserves both your vehicle and your personal assets. It will also cover medical transport and hospital expenses that are the result of an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your car is damaged in a storm or accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your car definitely exceed the price paid, especially with large liability claims. Despite what companies tell you, the average driver is overpaying over $869 every year so you should quote rates at every policy renewal to make sure the price is not too high.
Don’t listen to company ads
Consumers can’t escape the ads that claim the lowest premium rates by companies like State Farm and Allstate. They all advertise claims that drivers can save some big amount if you move to them.
How does each company save you money on Volvo S60 insurance in Chicago? This is the trick they use.
Most companies are able to cherry pick for a prospective insured that will be a good risk. For example, this type of insured may be between 30 and 50, owns their home, and has great credit. Any driver who fits that profile will probably get cheap premium rates and therefore will save if they switch.
People who don’t qualify for these stringent criteria will be charged a more expensive rate and the customer not purchasing. If you listen to the ad wording, they say “drivers that switch” but not “everyone who gets a quote” can get the lowest rates when switching. That’s why insurance companies can state the savings. This really illustrates why you need to compare quotes as often as possible. It is impossible to predict the company that will be your best fit.
Do you qualify for discounts?
Some providers don’t always advertise every possible discount very well, so the next list breaks down some of the best known in addition to some of the lesser obvious car insurance savings.
- Chicago Homeowners Pay Less – Owning a house in Chicago can get you a discount because owning a home means you have a higher level of financial diligence.
- Organization Discounts – Belonging to qualifying clubs or civic groups can get you a small discount on your bill.
- Student Discounts – Performing well in school can get you a discount of up to 25%. Many companies even apply the discount to college students well after school through age 25.
- Military Rewards – Being on active deployment in the military can result in better rates.
- Early Payment Discounts – If you can afford to pay the entire bill as opposed to paying monthly you could save 5% or more.
As a footnote on discounts, some of the credits will not apply to the whole policy. Most cut specific coverage prices like physical damage coverage or medical payments. Even though it appears adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
A list of car insurance companies and a partial list of their discounts include:
- State Farm has savings for good driver, defensive driving training, driver’s education, multiple policy, anti-theft, multiple autos, and Drive Safe & Save.
- American Family includes discounts for TimeAway discount, defensive driver, early bird, multi-vehicle, Steer into Savings, mySafetyValet, and good driver.
- AAA has discounts for education and occupation, multi-policy, AAA membership discount, good student, good driver, and multi-car.
- GEICO offers premium reductions for five-year accident-free, anti-theft, anti-lock brakes, emergency military deployment, multi-vehicle, air bags, and defensive driver.
- Mercury Insurance may have discounts that include accident-free, good student, multi-car, age of vehicle, good driver, professional/association, and low natural disaster claims.
- Farmers Insurance policyholders can earn discounts including youthful driver, homeowner, bundle discounts, teen driver, switch companies, multi-car, and pay in full.
- Progressive discounts include continuous coverage, online signing, multi-vehicle, homeowner, and good student.
If you need low cost Chicago auto insurance quotes, ask each insurance company which discounts can lower your rates. Some credits may not apply to policies everywhere. If you would like to view providers that offer multiple discounts in Chicago, click this link.
When should I contact an insurance agency?
Certain consumers just prefer to get professional advice from a licensed agent. Agents can help you build your policy and help file insurance claims. An additional benefit of comparing rates online is you can get cheap rate quotes and still choose a local agent.
Once you complete this simple form, the coverage information is transmitted to local insurance agents that give free quotes for your insurance coverage. It’s much easier because you don’t need to leave your computer as quotes are delivered immediately to your email address. If you wish to compare rates from a specific insurance company, don’t hesitate to jump over to their website to submit a rate quote request.
Choosing an company needs to be determined by more than just the quoted price. The questions below may impact your decision as well.
- If your car is totalled, how to they determine the replacement cost?
- Which family members are covered?
- When do they do policy reviews?
- Do they get paid more for recommending certain coverages?
- How many years of experience in personal auto insurance do they have?
- Will you get a loaner vehicle if you car is being repaired?
- What is their Better Business Bureau rating?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
If you’re trying to find a good Chicago insurance agent, there are a couple of types of insurance agents and how they can quote your rates. Chicago agents can be categorized as either independent agents or exclusive agents depending on their employer. Both types of agents can write car insurance policies, but it’s a good idea to understand why they differ because it may have an impact on which type of agent you select.
Exclusive Car Insurance Agencies
Agents that elect to be exclusive have only one company to place business with like Allstate, AAA, Farmers Insurance, and State Farm. These agents are not able to provide rate quotes from other companies so if the price isn’t competitive there isn’t much they can do. They are well trained on the products they sell which helps them sell insurance even at higher premiums.
The following are exclusive agents in Chicago that can give you comparison quotes.
Independent Car Insurance Agencies
Independent agents can sell policies from many different companies so they can quote policies through many companies and find the cheapest car insurance rates. To transfer your coverage to a different company, your policy is moved internally and that require little work on your part. If you need lower rates, it’s a good idea to compare prices from several independent agencies to have the best price comparison.
The following are Chicago independent insurance agencies willing to provide price quote information.
Upon receiving good feedback to your questions as well as a price you’re happy with, you’ve probably found a car insurance agent that is reputable and can insure your vehicles.
When quoting and comparing insurance from an agent or online for your personal vehicles, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s.
Here are some questions about coverages that might help in determining whether you may require specific advice.
- Can I get a multi-policy discount for packaging my home and auto coverage?
- Where can I get insurance after a DUI in Illinois?
- I don’t drive much so do I pay less?
- What is an adequate liability insurance limit?
- Why do I only qualify for high-risk insurance?
- Is extra glass coverage worth it?
If you’re not sure about those questions, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form. It’s fast, doesn’t cost anything and may give you better protection.
More comparisons equals cheaper rates
When buying insurance coverage, never buy lower coverage limits just to save a few bucks. Too many times, an insured cut liability coverage limits to discover at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to buy enough coverage for the lowest cost, but don’t skip important coverages to save money.
Drivers change insurance companies for any number of reasons including extreme rates for teen drivers, delays in responding to claim requests, high prices or even high rates after DUI convictions. Regardless of your reason, switching companies is pretty easy and you might even save some money in the process.
You just read a lot of techniques to find affordable Volvo S60 insurance in Chicago. The key concept to understand is the more price quotes you have, the better likelihood of getting the cheapest Volvo S60 rate quotes. You may even discover the lowest car insurance rates are with the smaller companies.
For more information, feel free to visit the resources below:
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Who Has the Cheapest Chicago Auto Insurance for a Nissan Rogue? (FAQ)
- Who Has Affordable Auto Insurance for Drivers Under 25 in Chicago? (FAQ)
- Who Has Affordable Car Insurance Quotes for a GMC Sierra in Chicago? (FAQ)
- Tread Depth and Tire Safety (State Farm)
- Avoiding Deer Collisions (Insurance Information Institute)
- How Much Auto Coverage do I Need? (Insurance Information Institute)