Nobody I know likes paying for car insurance, in particular when it costs too dang much.
Unthinkable but true, about 70% of customers kept their policy with the same company for four years or more, and practically 40% of car insurance customers have never even compared rates from other companies. Chicago drivers could save themselves almost $600 a year just by comparing rates, but they don’t believe the large savings they would see if they bought a different policy.
Having so many different company options, it can be impossible to choose the most cost effective insurer.
Consumers should take time to do price comparisons once or twice a year because car insurance prices are variable and change quite frequently. If you had the best deal on Hyundai Veloster insurance in Chicago at your last renewal there may be better deals available now. Block out anything you think you know about car insurance because we’re going to show you the right way to reduce your cost while increasing coverage.
These tips will introduce you to how insurance works and how you can save the most money. If you have a policy now, you will surely be able to get lower rates using the techniques presented in this article. Although Illinois car owners can benefit from knowing how insurance companies calculate their prices and apply this information to your search.
First Step: Get free Hyundai Veloster insurance quotes
Most major insurance companies such as GEICO, State Farm and Progressive allow you to get pricing on the web. Getting online rates for Hyundai Veloster insurance in Chicago can be done by anyone as you just enter your coverage preferences as requested by the quote form. Upon sending the form, the company’s rating system sends out for your driving and credit reports and generates pricing information based on the data you entered. The ability to get online rate quotes for Hyundai Veloster insurance in Chicago makes it simple to compare prices and it is imperative to do this if you want to find the lowest possible payments on insurance.
To quickly compare pricing, check out the insurance providers below. If you have coverage now, it’s recommended that you enter the coverage information exactly as they are listed on your policy. Doing this assures you are getting rate quotes for similar coverage.
The car insurance companies shown below are our best choices to provide comparison quotes in Illinois. If multiple providers are shown, we suggest you compare several of them to get the most affordable price.
Discounts mean cheaper rates for Hyundai Veloster insurance in Chicago
Some providers don’t list every discount very well, so the following is a list of a few of the more common and the more hidden car insurance savings.
- Include Life Insurance and Save – Not all car insurance companies offer life insurance, but some may give you a lower car insurance rate if you buy some life insurance in addition to your auto policy.
- Smart Student Discounts – Maintaining excellent grades can get you a discount of up to 25%. You can use this discount normally until age 25.
- Fewer Miles Equal More Savings – Maintaining low annual mileage can qualify you for cheaper rates.
- Payment Discounts – If you pay your bill all at once instead of monthly or quarterly installments you can avoid monthly service charges.
- Discount for Swiching Early – Some car insurance companies provide a discount for buying a new policy prior to your current Veloster insurance policy expiring. This discount can save up to 10%.
- Accident Forgiveness – This one isn’t a discount, but some companies like GEICO, Progressive, and Allstate permit an accident before your rates go up if you have no claims before the accident.
- ABS Brakes – Cars, trucks, and SUVs with ABS and/or traction control prevent accidents and will save you 10% or more on Veloster insurance in Chicago.
- New Car Discount – Insuring a new Veloster may earn a small discount because newer vehicles are generally safer.
- Seat Belts Save – Drivers who require all occupants to buckle their seat belts could save 15% on the medical payments or PIP coverage costs.
As is typical with insurance, some credits don’t apply to your bottom line cost. Most only apply to specific coverage prices like liability and collision coverage. So despite the fact that it appears you would end up receiving a 100% discount, that’s just not realistic.
A few popular companies and their offered discounts are detailed below.
- American Family may have discounts that include Steer into Savings, bundled insurance, mySafetyValet, air bags, and good student.
- Nationwide policyholders can earn discounts including anti-theft, easy pay, Farm Bureau membership, multi-policy, accident-free, family plan, and good student.
- MetLife offers discounts including good driver, multi-policy, good student, accident-free, defensive driver, claim-free
- 21st Century has savings for automatic seat belts, theft prevention, early bird, defensive driver, teen driver, and homeowners.
- Farmers Insurance may offer discounts for distant student, homeowner, business and professional, electronic funds transfer, multi-car, youthful driver, and mature driver.
- Allstate has discounts for defensive driver, good payer, premier discount, economy car, passive restraint, multi-policy, and utility vehicle.
Before you buy a policy, ask each company or agent how you can save money. All car insurance discounts may not be offered in Chicago. To see providers with the best Hyundai Veloster insurance discounts in Chicago, follow this link.
Buy Hyundai Veloster Insurance at a Discount
Consumers need to have an understanding of the different types of things that play a part in calculating your premiums. If you know what positively or negatively impacts your premiums, this enables informed choices that can help you get big savings. Multiple criteria are used in the calculation when quoting car insurance. A few of the factors are predictable like an MVR report, but others are not as apparent like your continuous coverage or how financially stable you are.
- Get better premiums after the wedding – Having a spouse can get you a discount on insurance. Having a spouse translates into being less irresponsible and statistics prove drivers who are married are more cautious.
- Insurance rates and your vocation – Did you know your insurance rates can be affected by your occupation? Careers such as lawyers, air traffic controllers, and accountants tend to have the highest rates due to high stress and lots of time spent away from family. Other jobs like scientists, athletes and performers generally pay rates lower than average.
- City traffic equals higher prices – Living in a rural area has definite advantages when trying to find low car insurance rates. People in densely populated areas have to deal with much more traffic and much longer commute distances. Lower population means less chance of accidents in addition to fewer liability claims.
- Cautious drivers pay less – A bad driving record can have a huge impact on auto insurance premiums. Drivers who don’t get tickets pay less for auto insurance compared to drivers with tickets. Getting just one chargeable violation may increase your cost forty percent or more. Drivers who have multiple violations such as reckless driving or DUI may face state-mandated requirements to maintain a SR-22 with the DMV in their state in order to keep their license.
- Never have insurance policy lapses – Having a gap between insurance policy dates will be a sure-fire way to bump up your insurance costs. Not only will you pay more, the inability to provide proof of insurance may result in a fine, jail time, or a revoked license. You will then be forced to prove you have insurance by filing a SR-22 with the Illinois motor vehicle department.
- Bundle policies with the same company – Many insurance companies will award a discount to people who carry more than one policy, otherwise known as a multi-policy discount. Even if you qualify for this discount already, you still need to compare other company rates to make sure you are getting the best deal.
- Men are more aggressive – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. That doesn’t necessarily mean that males are worse at driving than females. Women and men cause at-fault accidents at a similar rate, but the male of the species have accidents that have higher claims. In addition to higher claims, males also get cited for more serious violations like reckless driving and DUI. Male teenagers are most likely to cause an accident and therefore pay the highest rates.
- Poor credit decisions can cost you – An insured’s credit score is a big factor in calculating your premium rate. Drivers who have high credit scores tend to file fewer claims and have better driving records as compared to drivers with lower credit ratings. So if your credit is not that good, you could pay less to insure your Hyundai Veloster if you improve your credit rating.
- Insurance loss data for a Hyundai Veloster – Insurance companies use past insurance losses to help set a rate to offset losses. Vehicles that the data shows to have increased claim numbers or amounts will cost more to insure.
The table below demonstrates the historical loss data for Hyundai Veloster vehicles. For each policy coverage type, the loss probability for all vehicles as a whole equals 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while percentage numbers above 100 indicate a higher chance of having a claim or tendency to have higher losses.
Car Insurance Loss Data for Hyundai Veloster Models
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Veloster 109 112 88 112 129 116 Hyundai Veloster Turbo 116 87 104 98 89 101
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance agent or online?
A lot of people prefer to get advice from a local agent and that can be a great decision The biggest benefit of comparing insurance prices online is the fact that drivers can get lower car insurance rates but also keep your business local. And providing support for local agencies is especially important in Chicago.
After filling out this form (opens in new window), the coverage information is sent to agents in your area who want to provide quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to drive around because prices are sent straight to your inbox. You can get cheaper insurance rates without requiring a lot of work. If you wish to quote rates for a specific company, feel free to find their quoting web page and fill out the quote form the provide.
Independent or Exclusive: It’s your choice
When narrowing the list to find a reliable insurance agent, it can be helpful to understand the different agency structures and how they can write your policy. Agents can either be independent or exclusive.
Independent Insurance Agents
Independent agents often have many company appointments and that enables them to quote your coverage through lots of different companies depending on which coverage is best. To transfer your coverage to a different company, the business is moved internally and the insured can keep the same agent. If you are trying to find cheaper rates, you definitely need to get some free quotes from a few independent agents to have the best price comparison.
Featured below are Chicago independent agents that can possibly get you free rate quotes.
Exclusive Insurance Agents
Agents of this type can usually just insure with one company and examples are State Farm, Allstate, or Farmers Insurance. Exclusive agencies are unable to give you multiple price quotes so it’s a take it or leave it situation. Exclusive insurance agents are usually well trained on the products they sell which helps overcome the inability to quote other rates.
Below are exclusive agents in Chicago willing to provide price quotes.
Glenda Tolentino-Moser – State Farm Insurance Agent
2015 W Montrose Ave – Chicago, IL 60618 – (773) 549-3300 – View Map
Finding the right auto insurance agent requires you to look at more than just the premium amount. Here are some questions you might want to ask.
- Does the agency provide any after hours assistance?
- How many years of experience in personal auto insurance do they have?
- What is the financial rating for the quoted company?
- Are they able to provide referrals?
- What will you get paid if your car is a total loss? How is that amount determined?
- How long has their agency been in business in Chicago?
- Which company do they place the most coverage with?
Buyer beware of auto insurance advertising tricks
GEICO, State Farm and Progressive endlessly run ads in print and on television. All the ads make the point about how much you will save just by moving to their company. It sounds good, but how can they all make the same claim? Here is how they do it.
Insurance companies have an ideal profile for the right customer that earns them a profit. For example, a desirable risk might have to be over the age of 50, carries full coverage, and insures a new vehicle. Any driver that hits that “sweet spot” is entitled to the best price and as a result will probably save when they switch companies.
Potential insureds who cannot meet this ideal profile will probably be forced to pay a higher rate which leads to the customer not buying. The trick is to say “drivers that switch” but not “all drivers who get quotes” save that much money. That is how companies can truthfully state the savings.
This illustrates why it’s extremely important to compare as many free Chicago car insurance quotes as you can. Because without a comparison, you cannot know which company will provide the lowest Hyundai Veloster insurance in Chicago.
We’ve covered a lot of ways to shop for Hyundai Veloster insurance online. The key thing to remember is the more times you quote, the higher the chance of saving money. You may even find the best price on car insurance is with a lesser-known regional company. These companies may cover specific market segments cheaper than the large multi-state companies such as Progressive or GEICO.
When trying to cut insurance costs, do not skimp on critical coverages to save a buck or two. There have been many situations where someone dropped collision coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to buy enough coverage at the best possible price, but do not skimp to save money.
- Information for Teen Drivers (GEICO)
- How Much are Car Insurance Quotes for 19 Year Olds in Chicago? (FAQ)
- Who Has Cheap Auto Insurance for Teenage Females in Chicago? (FAQ)
- How Much are Chicago Auto Insurance Rates for Nurses? (FAQ)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- What are my Rights when Filing a Claim? (Insurance Information Institute)