How many times have you told yourself to find the cheapest Honda Fit insurance in Chicago? Sick and tired of being strong-armed to pay insurance each month? You are no different than many other Illinois drivers.
Inconceivable but true, a large majority of insurance policyholders in Illinois have purchased from the same company for more than four years, and almost 40% of drivers have never compared rates from other carriers. American drivers can save hundreds of dollars each year by just shopping around, but they don’t know the benefits if they switched to a more affordable policy.
You have so many insurers to choose from, and though it is a good thing to have multiple companies, having more insurance companies makes it harder to compare company pricing for Honda Fit insurance in Chicago.
Best Honda Fit insurance price quotes in Illinois
The companies in the list below can provide free rate quotes in Chicago, IL. If more than one company is shown, it’s highly recommended you get price quotes from several of them to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Fit Sport VSA||$182||$398||$232||$14||$70||$896||$75|
|Get Your Own Custom Quote Go|
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Price estimates do not factor in the specific area where the vehicle is garaged which can impact price quotes substantially.
Should you buy full coverage?
The information below shows the difference between Honda Fit car insurance rates with and without physical damage coverage. The price estimates are based on no tickets, no at-fault accidents, $250 deductibles, married male driver, and no discounts are factored in.
When to eliminate full coverage
There is no specific rule of when to exclude comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your Honda Fit claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $4,000 after the policy deductible has been paid. If you are paying in excess of $400 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are a few cases where eliminating full coverage is not recommended. If you still owe money on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.
Should you raise deductibles?
The example below demonstrates how deductible levels and can raise or lower Honda Fit insurance costs for different age groups. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
Lower-cost Honda Fit insurance in Chicago
Auto insurance companies don’t list all discounts in a way that’s easy to find, so the next list breaks down both the well known and also the more inconspicuous discounts that you may qualify for.
- Discount for Swiching Early – Some larger companies provide a discount for switching companies early. It can save you around 10%.
- Distant College Student Discount – Children living away from Chicago attending college without a vehicle on campus can be insured at a reduced rate.
- Lower Rates for Military – Being deployed with a military unit can result in better prices.
- Telematics Discount – Chicago drivers who agree to allow data collection to monitor driving habits by using a telematics device in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system may get a rate reduction as long as the data is positive.
- Defensive Driver – Passing a defensive driving course could possibly earn you a 5% discount and also improve your driving technique.
- Discount for New Cars – Buying a new car model may earn a small discount since new vehicles are generally safer.
- No Claim Discounts – Claim-free drivers pay less when compared to bad drivers.
Don’t be surprised that some of the credits will not apply to the overall cost of the policy. Most only apply to specific coverage prices like comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, you’re out of luck.
Companies and a summarized list of policyholder discounts can be found below.
- State Farm offers discounts for Drive Safe & Save, defensive driving training, driver’s education, student away at school, safe vehicle, good driver, and multiple autos.
- American Family discounts include accident-free, defensive driver, mySafetyValet, TimeAway discount, air bags, and early bird.
- AAA has savings for good student, multi-policy, education and occupation, multi-car, AAA membership discount, good driver, and pay-in-full.
- GEICO policyholders can earn discounts including federal employee, air bags, membership and employees, emergency military deployment, defensive driver, multi-vehicle, and good student.
- Mercury Insurance may offer discounts for location of vehicle, multi-policy, good driver, low natural disaster claims, and ease of repair.
- Farmers Insurance may include discounts for early shopping, teen driver, distant student, alternative fuel, mature driver, and multi-car.
- Progressive offers discounts including online quote discount, multi-policy, homeowner, continuous coverage, and multi-vehicle.
If you need lower rates, check with each company to apply every possible discount. Some discounts listed above may not be available in your state. To choose insurance companies who offer cheap Honda Fit insurance quotes in Chicago, click this link.
Get rate quotes but still have a local Chicago insurance agency
A small number of people just want to talk to a local agent and doing so can bring peace of mind A nice benefit of comparing rates online is the fact that you can find cheap car insurance quotes but still work with a licensed agent.
Upon completion of this form (opens in new window), the quote information is transmitted to participating agents in Chicago who want to provide quotes for your coverage. It’s much easier because you don’t need to contact any insurance agencies because prices are sent to you directly. You can find lower rates and work with a local agent. If you need to quote rates from a specific company, just visit that company’s website and submit a quote form there.
Picking an provider needs to be determined by more than just a cheap price. A good agent in Chicago will have answers to these questions.
- Will one accident increase rates?
- Is working in the agency their full-time job?
- Are they properly licensed to sell insurance in Illinois?
- Did they already check your driving record and credit reports?
- Can glass claims be handled at your home?
- Is vehicle damage repaired with OEM or aftermarket parts?
If you are wanting to find a reliable insurance agency, it’s helpful to know the different agency structures from which to choose. Car insurance agents in Chicago are categorized either independent or exclusive depending on the company they work for.
Exclusive Car Insurance Agents
These agents can only quote rates from one company and some examples include American Family, State Farm, and Allstate. Exclusive agencies are unable to compare other company’s rates so you need to shop around if the rates are high. They are well schooled on their company’s products and that can be a competitive advantage.
Listed below are exclusive insurance agencies in Chicago who can help you get price quotes.
Greg King – State Farm Insurance Agent
5508 S Lake Park Ave – Chicago, IL 60637 – (773) 643-6200 – View Map
Independent Car Insurance Agents
Agents that elect to be independent are not locked into one company so they can quote policies with an assortment of companies and find you cheaper rates. If they find a cheaper price, they can switch companies in-house and you don’t have to find a new agent. When comparison shopping, it’s a good idea to contact at a minimum one independent agency to maximize your price options.
Below is a short list of independent agents in Chicago that are able to give rate quotes.
Slick advertising tricks that work
Big name companies like State Farm, Allstate and GEICO endlessly run ads on TV and radio. They all convey the message about savings just by switching your car insurance policy to them. How does each company charge lower premium rates? It’s all in the wording.
Different companies have specific criteria for the type of customer they prefer to insure. For instance, a profitable customer may need to be between 25 and 40, has no driving citations, and drives a lower-performance vehicle. A customer getting a price quote that matches those criteria may get the lowest auto insurance rates in Chicago and have a good chance to cut their Honda Fit insurance rates if they switch.
Drivers who do not match these stringent criteria will see a higher premium and this can result in business not being written. The ads state “drivers who switch” not “everyone who quotes” can get the lowest rates when switching. That is how companies can make those statements. This really drives home the point why you really need to get Chicago auto insurance quotes from several different companies. Because without a comparison, you cannot know which company will give you lower auto insurance rates than your current company.
You may need specialized auto insurance coverage
Always remember that when buying your policy, there isn’t really a perfect coverage plan. Your financial needs are unique and your auto insurance should be unique as well.
Here are some questions about coverages that may help highlight if your insurance needs may require specific advice.
- Should I buy full coverage?
- How much cheaper are high deductibles?
- Does my insurance cover a custom paint job?
- Does my policy cover me when driving someone else’s vehicle?
- Will my Honda Fit be repaired with OEM or aftermarket parts?
- What is glass protection for?
- Are my friends covered when driving my Honda Fit?
- What is no-fault insurance?
- Does coverage extend to Mexico or Canada?
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier
Learn about car insurance coverages for a Honda Fit
Having a good grasp of a car insurance policy aids in choosing the best coverages for your vehicles. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are typical coverage types offered by car insurance companies.
Auto liability insurance
Liability coverage provides protection from damage that occurs to a person or their property by causing an accident. This insurance protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 20/40/15 which means $20,000 in coverage for each person’s injuries, $40,000 for the entire accident, and a limit of $15,000 paid for damaged property.
Liability coverage protects against claims such as attorney fees, emergency aid and court costs. How much coverage you buy is your choice, but buy higher limits if possible. Illinois requires drivers to carry at least 20/40/15 but it’s recommended drivers buy more liability than the minimum.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Honda Fit.
Since a lot of drivers have only the minimum liability required by law (20/40/15), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP provide coverage for bills like doctor visits, ambulance fees, funeral costs, surgery and chiropractic care. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants in addition to being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things such as damage from a tornado or hurricane, hitting a bird, vandalism, hitting a deer and rock chips in glass. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
This covers damage to your Fit from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for things like scraping a guard rail, driving through your garage door, crashing into a building, backing into a parked car and hitting a mailbox. This coverage can be expensive, so you might think about dropping it from lower value vehicles. You can also bump up the deductible on your Fit to get cheaper collision coverage.
Compare car insurance rates regularly to save
Low-cost Honda Fit insurance in Chicago can be sourced from both online companies in addition to many Chicago insurance agents, so you should be comparing quotes from both to have the best rate selection. Some companies may not have the ability to get a quote online and usually these small insurance companies sell through independent agents.
We covered quite a bit of information on how to find cheap Honda Fit insurance in Chicago. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. You may even be surprised to find that the lowest auto insurance rates are with a lesser-known regional company. Regional companies can often provide lower premium rates in certain areas compared to the large companies like State Farm and Allstate.
As you quote Chicago auto insurance, it’s very important that you do not skimp on critical coverages to save a buck or two. There are a lot of situations where an insured cut liability limits or collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. Your strategy should be to find the BEST coverage at the lowest possible cost while still protecting your assets.
Additional car insurance information can be found below:
- Avoiding Deer Collisions (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Veterans in Chicago? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Welfare Recipients in Chicago? (FAQ)
- Who Has Cheap Auto Insurance for Teenage Females in Chicago? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Low Credit Scores in Chicago? (FAQ)
- Who Has Cheap Chicago Auto Insurance for Young Drivers? (FAQ)
- What Auto Insurance is Cheapest After a Speeding Ticket in Chicago? (FAQ)
- Who Has the Cheapest Auto Insurance for 4×4 Vehicles in Chicago? (FAQ)
- Who Has Affordable Car Insurance for Teenage Males in Chicago? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Homeowners in Chicago? (FAQ)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- What is Covered by GAP Insurance? (Allstate)
- Understanding Car Crashes Video (iihs.org)