Having to pay for pricey car insurance in Chicago can bottom out your savings account and make it hard to pay other bills. Comparing price quotes can help to cut your insurance bill.
Amazlingly, a recent NerdWallet.com study showed that the majority of drivers have remained with the same car insurance company for more than four years, and about 40% of consumers have never compared car insurance rates at all. Most drivers in the U.S. could save approximately $859 each year by just comparing quotes, but they assume it’s a waste of time to do a rate comparison.
Online insurance companies like State Farm, Allstate, GEICO and Progressive constantly blast consumers with fancy advertisements and consumers find it hard to not get sucked in by the cute commercials and find the best price available.
Smart consumers take time to do rate comparisons before your next renewal because prices go up and down regularly. Even if you think you had the best deal on Audi S8 insurance in Chicago six months ago you can probably find a lower rate today. You can find a lot of misleading information regarding S8 insurance online but by reading this article, you’re going to learn some guaranteed methods to find affordable car insurance in Chicago.
Best companies for Audi S8 insurance
The companies shown below can provide free quotes in Illinois. If multiple companies are shown, we recommend you compare several of them to get the best price comparison.
Components of Your Audi S8 Insurance Premiums
When buying auto insurance it’s important to understand the factors that aid in calculating your policy premiums. If you have some idea of what controls the rates you pay, this allows you to make good choices that can earn you big savings.
The itemized list below are just a few of the factors used by companies to determine prices.
- Premiums and vocation – Did you know your auto insurance rates can be affected by your occupation? Occupations like fire fighters, airline pilots, and accountants tend to pay the highest rates due to stressful work requirements and incredibly demanding work hours. On the other hand, occupations like actors, engineers and retirees get better rates.
- Premiums impacted by your city – Having an address in a small town is a positive aspect when talking about auto insurance. Drivers who live in large cities have more aggressive driving styles and longer commute times. Fewer drivers and short commutes translates into fewer accident claims and a lower car theft rate.
- What type of vehicle do you drive? – The performance of the car you need to insure makes a big difference in your auto insurance rates. The lowest premiums are generally reserved for smaller low performance passenger cars, but that’s not the only thing that factors into the final price. Since the Audi S8 is classified as a luxury sedan, insurance will be more compared to average rates in Chicago.
- Gaps in coverage mean higher rates – Allowing your coverage to lapse can be a sure-fire way to increase your rates. And not only will insurance be more expensive, being ticketed for driving with no insurance may earn you a license revocation or jail time. You may have to submit proof of financial responsibility or a SR-22 with the Illinois motor vehicle department.
- Audi S8 insurance loss probability – Car insurance companies use claims history as a way to help calculate a profitable premium price. Models that have higher frequency or amount of claims will cost more for specific coverages. The table below demonstrates the compiled insurance loss statistics for Audi S8 vehicles.
For each coverage category, the loss probability for all vehicles as a whole is equal to 100. Numbers shown that are under 100 suggest a positive loss record, while numbers shown that are more than 100 indicate higher probability of having a loss or a tendency for claims to be larger.
Car Insurance Loss Data for Audi S8 Models
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Audi S8 4dr 4WD 288 266
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Do you qualify for discounts on Audi S8 insurance in Chicago?
The price of auto insurance can be rather high, but you might already qualify for some discounts that you may not even know about. Most are applied when you get a quote, but some need to be specially asked for before they will apply.
- Air Bag Discount – Cars that have air bags and/or automatic seat belt systems may get savings of more than 20%.
- Sign Early and Save – Select larger companies give a discount for signing up prior to your current S8 insurance policy expiration. You could save around 10% when you buy Chicago auto insurance online.
- Online Discount – A few companies provide a small discount shop Chicago auto insurance on their website.
- Student Driver Training – It’s a good idea to have your young drivers enroll in driver’s education as it can save substantially.
- Savings for New Vehicles – Buying a new car instead of a used S8 can save up to 30% compared to insuring an older model.
- Claim Free – Chicago drivers who stay claim-free get the best auto insurance rates when compared with frequent claim filers.
Policy discounts save money, but some credits don’t apply to all coverage premiums. Most cut individual premiums such as physical damage coverage or medical payments. Even though it appears it’s possible to get free car insurance, auto insurance companies aren’t that generous.
A few of the larger companies and a partial list of their discounts are shown below.
- Farm Bureau offers discounts for multi-vehicle, youthful driver, renewal discount, good student, driver training, 55 and retired, and safe driver.
- Liberty Mutual policyholders can earn discounts including teen driver discount, multi-policy, good student, multi-car, and newly married.
- State Farm discounts include safe vehicle, student away at school, good driver, passive restraint, and driver’s education.
- Auto-Owners Insurance has discounts for student away at school, anti-lock brakes, safe vehicle, anti-theft, and group or association.
- GEICO may include discounts for anti-lock brakes, air bags, membership and employees, driver training, seat belt use, and good student.
- SAFECO may offer discounts for homeowner, anti-lock brakes, bundle discounts, safe driver, and multi-car.
It’s a good idea to ask every company which discounts you qualify for. Discounts may not be available in your area.
Compare rates but buy from a local Chicago insurance agent
A small number of people prefer to buy from a local agent and we recommend doing that A nice benefit of comparing insurance prices online is the fact that drivers can get better rates but also keep your business local.
For easy comparison, once you complete this form (opens in new window), the quote information is immediately sent to participating agents in Chicago who will give competitive quotes for your business. It makes it easy because there is no need to leave your computer since price quotes are sent immediately to you. You’ll get the best rates and work with a local agent. If you wish to get a comparison quote for a specific company, you can always navigate to their website and fill out the quote form the provide.
Finding the right insurer is decision based upon more than just the price. Any agent in Chicago should be willing to answer these questions.
- Will the company cover a rental car if your car is getting fixed?
- Does the company have a local claim office in Chicago?
- What company holds the largest book of business for them?
- How long have they worked with personal auto insurance coverage?
- Does the company allow you to choose your own collision repair facility?
Types of auto insurance agents in Chicago
When looking for a local agent, you must know there are a couple types of agencies that differ in how they can insure your vehicles. Car insurance agencies are considered either independent (non-exclusive) or exclusive.
These agents normally can only provide a single company’s rates such as Allstate and State Farm. They usually cannot provide prices from multiple companies so you need to shop around if the rates are high. Exclusive agencies are usually quite knowledgeable on their company’s products which helps them sell on service rather than price.
The following is a short list of exclusive agencies in Chicago willing to provide comparison quotes.
Independent Insurance Agents
Agents of this type can sell policies from many different companies so as a result can place your coverage through lots of different companies and get the cheapest rates. If prices rise, they can switch companies in-house and the insured can keep the same agent.
When comparing car insurance rates, we recommend you compare prices from a couple of independent agencies to get the best comparison.
The following is a short list of independent agents in Chicago willing to provide price quote information.
If you receive acceptable answers for all questions you ask as well as a price you’re happy with, you may have found an auto insurance agent that meets the requirements to adequately provide car insurance.
Do you really save 40% when you switch?
Progressive, Allstate and GEICO seem to constantly run television, radio, and online ads. They all convey the message that drivers can save some big amount if you move your auto insurance coverage to their company. How is it plausible that every one can charge less that you’re paying now? This is the trick they use.
Many companies have strict underwriting profiles for the type of insured that will be a good risk. For instance, a desirable insured may need to be between 25 and 40, has no prior claims, and drives a lower-performance vehicle. A customer getting a price quote who matches that profile will get very good Chicago prices and have a good chance to pay quite a bit less when switching companies.
Consumers who don’t meet this ideal profile will be charged higher rates which leads to business not being written. The trick is to say “people that switch” not “everyone that quotes” save that much when switching. That is how companies can make it sound like they have such great premium rates. This emphasizes why you really need to do a rate comparison at every renewal. Because you cannot predict the company that will have the lowest rate quotes.
Keep this in mind when shopping around
Cheaper car insurance in Chicago is attainable both online and from local insurance agents, and you need to comparison shop both to get a complete price analysis. A few companies do not provide rate quotes online and most of the time these small, regional companies provide coverage only through local independent agents.
As you shop your coverage around, you should never skimp on coverage in order to save money. In many instances, an accident victim reduced liability limits or collision coverage only to find out that they should have had better coverage. Your strategy should be to buy enough coverage for the lowest price while still protecting your assets.
For more information, take a look at the resources below:
- Child Safety Seats (Insurance Information Institute)
- Who Has Affordable Auto Insurance Quotes for Drivers with a DUI in Chicago? (FAQ)
- How Much are Car Insurance Rates for Drivers Requiring a SR22 in Chicago? (FAQ)
- Who Has Cheap Car Insurance for Uber Drivers in Chicago? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for a Nissan Altima? (FAQ)
- How Much are Chicago Auto Insurance Quotes for Retired Military? (FAQ)
- How Much are Chicago Auto Insurance Rates for Nurses? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- State Car Insurance Guides (GEICO)
- Vehicle Insurance (Wikipedia)