Pricey Dodge Ram 3500 insurance in Chicago can deplete your funds and make it impossible to make ends meet. Comparing cost estimates is an excellent way to make ends meet.
Amazlingly, a recent NerdWallet.com study showed that 70% of consumers kept their policy with the same company for at least four years, and nearly half have never compared car insurance rates at all. Drivers in Illinois could save roughly 40% every year, but most tend to underestimate the amount of savings they would get if they replace their high priced policy. There is such a variety of insurance companies to purchase coverage from, and though it is a good thing to have multiple companies, more choices can make it harder to locate the cheapest rates for Dodge Ram 3500 insurance in Chicago.
It is always a good idea to compare rates every six months since prices are usually higher with each renewal. Even if you got the best quotes on Dodge Ram 3500 insurance in Chicago last year you may be paying too much now. Block out anything you think you know about car insurance because it’s time to teach you the only way to properly buy coverages and cut your premium.
Learn How to Find Car Insurance at a Discount
One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that play a part in calculating car insurance rates. When you know what positively or negatively determines premiums, this empowers consumers to make smart changes that could result in lower premium levels.
The itemized list below are most of the major factors car insurance companies consider when setting your premiums.
- Impacts performance impacts rates – The type of car you need to insure makes a significant difference in your car insurance bill. Due to the fact that the Dodge Ram 3500 is a pickup truck, insuring your vehicle will cost similar in price when compared to the average rates in Chicago. Economy passenger models generally have the cheapest insurance rates, but other factors influence the final cost greatly.
- Put fewer miles on your vehicle – Driving a lot of miles every year the higher the price you pay to insure it. Almost all companies calculate prices partially by how you use the vehicle. Cars and trucks that sit idle most of the time receive lower rates compared to those used for work or business. It’s always a good idea to double check that your declarations sheet is rated on how each vehicle is driven, because it can save money. A policy that improperly rates your Ram 3500 may be costing you higher rates.
- Discounts for married drivers – Getting married may cut your premiums on car insurance. Having a spouse may mean you are more mature and responsible and insurance companies reward insureds because drivers who are married file infrequent claims.
- Age of drivers impacts costs – Older insureds are proven to be safer behind the wheel, cause fewer claims and accidents, and are safer drivers.Teenage drivers tend to be inattentive when driving with friends therefore car insurance rates are much higher.
- Higher deductibles are cheaper – Physical damage insurance, otherwise known as comp (or other than collision) and collision, insures against damage to your Dodge. Examples of some claims that would be covered could be a windshield shattered by a rock, collision with an animal, and rolling your vehicle. The deductibles tell how much you are willing to pay before a claim is paid by your company. The more damage repair cost the insured is willing to pay, the bigger discount you will receive.
- Premiums and occupation – Careers like military personnel, air traffic controllers, and emergency personnel are shown to have higher average rates due to intense work requirements and lengthy work days. Other jobs such as actors, engineers and retirees get better rates.
Finding cheaper insurance rates is surprisingly easy. The only requirement is to take the time to get quotes from different insurance companies.
Online shopping is fast and free, and it makes it a waste of time to actually drive to all the different insurance agencies. The ability to buy insurance online eliminates the need for an insurance agent unless you have a complicated situation and need the professional guidance of a local agent. It is possible with some companies price shop your coverage online but purchase the actual policy in an agency.
The car insurance companies shown below are ready to provide price quotes in Chicago, IL. If several companies are displayed, it’s a good idea that you compare several of them to find the cheapest car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Ram 3500 Crew Cab Laramie 2WD||$254||$406||$262||$16||$78||$1,016||$85|
|Ram 3500 Crew Cab ST 2WD||$268||$452||$340||$20||$102||$1,182||$99|
|Ram 3500 Crew Cab ST 4WD||$240||$456||$368||$22||$110||$1,196||$100|
|Ram 3500 Crew Cab SLT 2WD||$158||$266||$268||$16||$80||$788||$66|
|Ram 3500 Mega Cab SLT 2WD||$254||$424||$268||$16||$80||$1,042||$87|
|Ram 3500 Mega Cab SLT 4WD||$268||$610||$412||$24||$124||$1,438||$120|
|Ram 3500 Crew Cab SLT 4WD||$132||$272||$368||$22||$110||$904||$75|
|Ram 3500 Crew Cab Laramie 4WD||$240||$512||$442||$26||$132||$1,352||$113|
|Ram 3500 Mega Cab Laramie 2WD||$158||$266||$268||$16||$80||$788||$66|
|Ram 3500 Crew Cab Laramie 2WD||$206||$342||$268||$16||$80||$912||$76|
|Ram 3500 Mega Cab Laramie 4WD||$170||$378||$474||$28||$142||$1,192||$99|
|Get Your Own Custom Quote Go|
Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Prices do not factor in zip code location which can alter auto insurance rates greatly.
Liability only or full coverage
The chart below shows the difference between Dodge Ram 3500 annual premium costs with full physical damage coverage compared to only buying liability only. The costs are based on no violations or accidents, $500 deductibles, single female driver, and no discounts are applied.
Guidelines for eliminating full coverage
There is no specific rule to eliminate full coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s say your Dodge Ram 3500 replacement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after paying the physical damage deductible. If you are paying in excess of $500 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some situations where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Auto insurance cost for men versus women in Chicago
The illustration below illustrates the comparison of Dodge Ram 3500 annual premium costs for male and female drivers. The prices are based on no violations or accidents, full coverage, $500 deductibles, drivers are single, and no discounts are factored in.
Violations and accidents raise rates
The information below shows how speeding tickets and at-fault claims can affect Dodge Ram 3500 insurance premiums for different age categories. The data is based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.
Are insurance companies telling the truth?
Illinois consumers can’t ignore all the ads for the lowest price insurance by State Farm, Allstate and GEICO. All the companies make the same claim that you’ll save big just by switching to their company.
How do they all offer you a better deal on Dodge Ram 3500 insurance in Chicago? You have to listen carefully.
Insurance providers have specific criteria for the type of driver that will add to their bottom line. An example of this type of insured may be a married female, has a low-risk occupation, and has great credit. Any person who fits those characteristics will get very good Chicago rates and most likely will pay quite a bit less when switching companies.
Potential customers who fall outside those standards may be forced to pay higher premium rates and the customer buying from someone else. The ads state “people that switch” not “everyone that quotes” save that much money. That’s why insurance companies can lure you into getting a quote. This really drives home the point why it’s extremely important to get Chicago car insurance quotes as often as possible. It’s impossible to know with any certainty which company will give you lower prices than your current company.
Buying the right vehicle insurance in Illinois is an important decision
Even though Chicago Ram 3500 insurance rates can get expensive, maintaining insurance is most likely required but also gives you several important benefits.
First, the majority of states have mandatory liability insurance requirements which means the state requires a specific level 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 your car has a lien holder, most lenders will make it a condition of the loan that you have insurance to guarantee loan repayment. If you let the policy lapse, the lender may have to buy a policy to insure your Dodge at an extremely high rate and force you to reimburse them a much higher amount than you were paying before.
Third, insurance safeguards not only your car but also your financial assets. It also can pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if you are sued as the result of your driving. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your Ram 3500 more than cancel out the cost, particularly for liability claims. But the average American driver overpays more than $865 each year so shop around every year to save money.
Discounts can help lower rates on Dodge Ram 3500 insurance in Chicago
Some providers don’t always list every available discount in a way that’s easy to find, so the list below details some of the best known as well as some of the hidden credits available to you. If you check and find you aren’t receiving every discount available, you’re just leaving money on the table.
- Distant Student Discount – Older children who live away from home to go to college and do not take a car to college could qualify for this discount.
- Senior Citizen Discount – If you’re over the age of 55, you may qualify for better insurance rates.
- Chicago Homeowners Discount – Owning your own home or condo can save you money because maintaining a house shows financial diligence.
- Accident Waiver – Not necessarily a discount, but a few companies such as GEICO, Progressive, and Allstate will turn a blind eye to one accident before they charge you more for coverage as long as you don’t have any claims prior to the accident.
- Professional Organizations – Having an affiliation with certain professional organizations could trigger savings on your next renewal.
- Active Military Service – Having a family member in the military could qualify you for better rates.
- Claim Free – Claim-free drivers can earn big discounts in comparison with frequent claim filers.
- Student Driver Training – Teen drivers should enroll and complete driver’s education as it will make them better drivers and lower rates.
A little disclaimer on discounts, most of the big mark downs will not be given to the entire policy premium. A few only apply to specific coverage prices like comprehensive or collision. Even though the math looks like you would end up receiving a 100% discount, it’s just not the way it works. But any discount will cut the cost of coverage.
The best insurance companies and some of the discounts can be read below.
- Progressive may include discounts for online signing, continuous coverage, multi-policy, online quote discount, and multi-vehicle.
- SAFECO may have discounts that include drive less, multi-car, teen safe driver, anti-lock brakes, homeowner, accident prevention training, and bundle discounts.
- American Family offers premium reductions for Steer into Savings, accident-free, mySafetyValet, TimeAway discount, and good driver.
- MetLife has discounts for defensive driver, accident-free, multi-policy, good driver, and good student.
- GEICO offers discounts for multi-policy, anti-theft, military active duty, anti-lock brakes, emergency military deployment, and multi-vehicle.
- The Hartford offers discounts including air bag, bundle, anti-theft, driver training, and vehicle fuel type.
When quoting, ask every company which discounts can lower your rates. Some discounts may not be offered in Chicago. If you would like to view insurance companies who offer cheap Dodge Ram 3500 insurance quotes in Chicago, click here to view.
Are insurance agencies obsolete?
Some people prefer to have an agent’s advice and that is a smart decision Insurance agents can help determine the best coverages and help in the event of a claim. The biggest benefit of price shopping on the web is the fact that drivers can get cheap auto insurance rates but still work with a licensed agent.
Upon completion of this quick form, the coverage information is submitted to local insurance agents who will gladly provide quotes for your coverage. It’s much easier because you don’t need to leave your computer because prices are sent to the email address you provide. If you need to compare prices from a specific insurance company, just go to their quote page and submit a quote form there.
Finding a good company should depend on more than just the quoted price. Any agent in Chicago should be willing to answer these questions.
- Is their price quote a firm figure or are their hidden costs?
- If they are an independent agency in Chicago, which companies do they recommend?
- Do they have a Better Business Bureau rating in Chicago?
- Which company do they place the most coverage with?
- Does the company have a solid financial rating?
- Who is covered by the car insurance policy?
When searching for a local Chicago insurance agency, it’s helpful to know the types of insurance agents and how they can quote your rates. Auto insurance policy providers are categorized either independent or exclusive. Both sell and service auto insurance coverage, but it’s a good idea to understand the difference between them since it can impact which type of agent you select.
Agents of this type can only provide one company’s prices and some examples include American Family, State Farm, and AAA. Exclusive agents are unable to place coverage with different providers so always compare other rates. Exclusive insurance agents are very knowledgeable on their products and sales techniques which helps overcome the inability to quote other rates.
The following are Chicago exclusive insurance agents who can help you get price quotes.
Independent Agencies or Brokers
These type of agents often have affiliation with several companies and that enables them to quote your coverage with an assortment of companies and help determine which has the cheapest rates. To move your coverage to a new company, an independent agent can move your coverage and you stay with the same agent.
When comparing rate quotes, it’s recommended you get quotes from several independent insurance agents for the best price selection.
Shown below are Chicago independent insurance agencies that can give you price quote information.
KSA Insurance Agency
7158 W Grand Ave – Chicago, IL 60707 – (773) 804-9000 – View Map
Cheap auto insurance prices are available
You just read many ways to reduce Dodge Ram 3500 insurance premium rates online in Chicago. The most important thing to understand is the more rate quotes you have, the better your comparison will be. You may even find the best premium rates are with a small local company. Some small companies may cover specific market segments cheaper as compared to the big name companies such as Allstate, GEICO and Progressive.
Cheaper auto insurance in Chicago is attainable from both online companies as well as from insurance agents, so you should be comparing quotes from both to have the best rate selection. There are still a few companies who may not provide rates over the internet and usually these regional carriers only sell coverage through independent agents.
To read more, link through to the articles below:
- Driving in Bad Weather (Insurance Information Institute)
- Who Has Cheap Car Insurance Rates for 16 Year Olds in Chicago? (FAQ)
- Who Has Affordable Chicago Auto Insurance for Drivers with Good Credit? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- Cellphones, Texting and Driving (iihs.org)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)