Would you prefer to buy more competitive car insurance rates in Chicago, IL? Chicago drivers have options when trying to find affordable Honda CR-Z insurance. You can either spend your time driving around getting price quotes or leverage the internet to compare rates. There are both good and bad ways to find car insurance online and you need to know the absolute fastest way to quote coverages on a Honda and get the lowest possible price either online or from Chicago insurance agents.
How to Lower Your Insurance Prices
A large part of saving on car insurance is knowing some of the factors that help calculate the rates you pay for car insurance. When you understand what determines premiums, this allows you to make educated decisions that could result in better car insurance rates. Many things are used in the calculation when quoting car insurance. Some are pretty understandable like a motor vehicle report, but others are not as apparent like your continuous coverage or your financial responsibility.
- Frequent insurance claims will cost you – Auto insurance companies in Illinois give the best rates to drivers who are not frequent claim filers. If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Your insurance policy is meant to be used in the event of the large, substantial claims.
- Protect yourself with liability coverage – Liability insurance will provide protection in the event that a court rules you are at fault for damages from an accident. Liability provides you with a defense in court which can cost thousands of dollars. Liability insurance is pretty cheap compared to other policy coverages, so buy as much as you can afford.
- Do you save by driving less? – Driving a lot of miles every year the more you will pay for car insurance. Almost all companies apply a rate determined by how the vehicle is used. Autos that sit idle most of the time receive lower rates than those that get driven frequently. Improper usage on your CR-Z is just wasting money. Verify your vehicle rating is rated on the proper vehicle usage.
- Does insurance coverage cost less for women? – The statistics show women tend to be less risk to insure than men. That doesn’t necessarily mean that women are BETTER drivers than men. Females and males tend to get into fender benders at about the same rate, but men have costlier accidents. Not only that, but men also get ticketed for serious violations like DUI and reckless driving. Male drivers age 16 to 19 cause the most accidents and thus pay the highest rates.
- Lower premiums with alarms and GPS tracking – Selecting a car model with a theft deterrent system can get you a discount on your car insurance. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop car theft.
- Rates can be impacted by your employer – Did you know that where you work can have an impact on rates? Careers like doctors, airline pilots, and financial analysts generally pay higher rates than average in part from intense work requirements and extremely grueling work hours. On the flip side, jobs such as professors, students and retirees have the lowest average rates.
- With age comes lower costs – Drivers with little experience are statistically shown to be more careless when driving with friends therefore car insurance rates are much higher. If you’ve ever had to add a beginning driver onto a policy can break the bank. More experienced drivers are proven to be safer behind the wheel, are lower risk to insure, and tend to be get fewer driving tickets.
- Insurance losses for a Honda CR-Z – Car insurance companies include the past claim history for a vehicle when setting rates for each model. Vehicles that the data determines to have higher loss trends will have a higher premium rate. The next table illustrates the insurance loss data for Honda CR-Z vehicles.
For each coverage category, the loss probability for all vehicles, regardless of manufacturer or model, equals 100. Percentages below 100 imply a favorable loss record, while percentage numbers above 100 indicate more frequent claims or tendency to have higher losses.
Insurance Loss Ratings for Honda CR-Z Vehicles
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-Z Hybrid 106 87 83 98
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
How much does Honda CR-Z insurance in Chicago, Illinois cost?
The companies shown below can provide free quotes in Chicago, IL. If multiple companies are listed, we recommend you visit two to three different companies in order to get a fair rate comparison.
Insurance advertising tricks
Consumers in Illinois can’t escape the ads that claim the cheapest prices from the likes of 21st Century, Allstate and State Farm. They all seem to state the claim that you’ll save big if you change to them.
That’s great but how can every company say the same thing? It’s all in the words they use.
Car insurance companies look for specific characteristics for the type of customer that will most likely be profitable. One example of a profitable insured should be over the age of 50, has no tickets, and drives less than 10,000 miles a year. Anyone who meets those qualifications gets the lowest prices as well as cut their rates substantially.
Potential customers who fall outside this ideal profile may receive more expensive rates which usually ends up with the customer buying from a different company. The trick companies use is to say “people who switch” not “everybody who quotes” save that kind of money. That’s the way insurance companies can state the savings. Each company has different criteria, so you really should compare as many free Chicago auto insurance quotes as you can. It’s just too difficult to predict with any certainty which company will fit you best based on your risk profile.
Choosing CR-Z insurance is an important decision
Even though Chicago CR-Z insurance rates can get expensive, insuring your vehicle may not be optional for several reasons.
- Most states have mandatory insurance requirements which means you are required to carry specific limits of liability coverage if you don’t want to risk a ticket. 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 have a loan on your CR-Z, almost all lenders will make it a condition of the loan that you have comprehensive coverage to guarantee loan repayment. If coverage lapses or is canceled, the bank will be required to insure your Honda for a lot more money and require you to reimburse them for it.
- Insurance safeguards your Honda CR-Z and your assets. It will also provide coverage for all forms of medical expenses that are the result of an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of having insurance definitely exceed the cost, especially with large liability claims. But the average American driver is wasting up to $855 a year so you should quote and compare rates each time the policy renews to ensure rates are competitive.
These discounts can lower your auto insurance quotes
Some insurers don’t necessarily list every discount available very clearly, so the following is a list of both well-publicized as well as some of the hidden credits available to you.
- First Accident Forgiveness – This one is not really a discount per se, but certain companies will turn a blind eye to one accident before raising your premiums as long as you don’t have any claims prior to the accident.
- Switch and Save Discount – Some insurance companies give discounts for switching to them prior to the expiration date on your current CR-Z insurance policy. Ten percent is about the average savings.
- Defensive Driver Discount – Participating in a class that teaches driver safety techniques can save you 5% or more and easily recoup the cost of the course.
- Paper-free Discount – A few larger online companies give back up to $50 for completing your application over the internet.
- Discounts for Federal Employees – Having worked for a branch of the government could cut as much as 10% off with certain companies.
- ABS and Traction Control Discounts – Vehicles that have steering control and anti-lock brakes are safer to drive so companies give up to a 10% discount.
- Multi-line Discount – If the company offers life insurance, you could get a break if you buy some life insurance in addition to your auto policy.
- Own a Home – Owning a home in Chicago can save you money due to the fact that maintaining a home requires personal responsibility.
- Military Discounts – Having an actively deployed family member could qualify you for better premium rates.
While discounts sound great, it’s important to understand that most discounts do not apply to the entire cost. Some only reduce individual premiums such as medical payments or collision. Despite the fact that it seems like having all the discounts means you get insurance for free, companies don’t profit that way.
To choose companies with significant discounts in Chicago, follow this link.
Independent and exclusive insurance agents
Many people would prefer to have an agent’s advice and we recommend doing that Professional insurance agents are trained risk managers and give you someone to call. An additional benefit of comparing insurance prices online is that you can find better rates and also buy local.
Upon completion of this short form, the coverage information is immediately sent to local insurance agents who will return price quotes to get your business. You won’t even need to drive around since rate quotes are delivered immediately to you. In the event you want to compare rates for a specific company, just visit that company’s website and fill out the quote form the provide.
Choosing the best insurer requires you to look at more than just the bottom line cost. Any agent in Chicago should be willing to answer these questions.
- Will one accident increase rates?
- Does the agency have a good rating with the Better Business Bureau?
- Does the company allow you to choose your own collision repair facility?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Do they write coverage based solely on cost?
- How much will you save each year by using a higher deductible?
- Do you qualify for any additional discounts?
- Will they make sure you get an adequate claim settlement?
If you are wanting to find a reliable agent, there are a couple of types of insurance agents and how they can write your policy. Chicago agents can either be exclusive agents or independent agents. Either type can insure your vehicles, but it is important to understand the subtle differences because it can impact which type of agent you select.
Exclusive Insurance Agents
Exclusive agents can only provide one company’s prices and examples are Farmers Insurance, Allstate, or State Farm. Exclusive agents are unable to compare rates from other companies so they are skilled at selling on more than just price. They are trained well on their products and sales techniques which aids in selling service over price. A lot of people buy from the same agent for years mainly due to the brand name rather than having low rates.
The following are Chicago exclusive agents that are able to give price quotes.
- Greg King – State Farm Insurance Agent
5508 S Lake Park Ave – Chicago, IL 60637 – (773) 643-6200 – View Map
- Peter Grande – State Farm Insurance Agent
1535 W Division St – Chicago, IL 60642 – (773) 270-4600 – View Map
- Mark Yun – State Farm Insurance Agent
223 W Cermak Rd, Fl-2 – Chicago, IL 60616 – (312) 225-8311 – View Map
Independent Insurance Agencies
Agents that choose to be independent often have many company appointments so they can insure your vehicles with any number of different companies enabling the ability to shop coverage around. If they find a lower price, the business is moved internally without you having to go to a different agency.
When shopping rates, you need to check rates from at a minimum one independent agency to get the best comparison. Most can insure with additional companies that you may not be familiar with that can offer cheaper rates than bigger companies.
Shown below are Chicago independent agents that can give you price quote information.
- Northwest Insurance Network
330 S Wells St #1600 – Chicago, IL 60606 – (312) 427-1777 – View Map
- Great Northern Insurance Agency
5632 S Pulaski Rd – Chicago, IL 60629 – (773) 838-3900 – View Map
- KSA Insurance Agency
7158 W Grand Ave – Chicago, IL 60707 – (773) 804-9000 – View Map
You can find cheaper coverage
Some companies may not provide online rate quotes and usually these small, regional companies only sell through independent insurance agencies. Lower-priced car insurance in Chicago can be bought on the web in addition to many Chicago insurance agents, so you need to compare both to get a complete price analysis.
When trying to cut insurance costs, never reduce coverage to reduce premium. In too many instances, an insured dropped full coverage only to regret at claim time that it was a big mistake. Your objective should be to purchase plenty of coverage at a price you can afford while still protecting your assets.
We just showed you a lot of tips how to compare Honda CR-Z insurance rates in Chicago. The most important thing to understand is the more companies you get auto insurance rates for, the higher the chance of saving money. You may even discover the lowest priced car insurance comes from the least-expected company.
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