Finding cheap prices on Chevy Bolt insurance in Chicago could be nearly impossible for drivers who are beginners to comparison shopping online. There are so many companies to choose from that it can easily turn into a burden to locate the lowest prices.
Sadly, nearly 70% of consumers have stayed with the same insurance company for four years or more, and just short of a majority have never shopped around. Illinois insurance shoppers could cut their rates by about $600 a year just by shopping around, but they don’t want to take the time to compare rates and save money.
You should take the time to take a look at other company’s rates yearly due to the fact that insurance rates are adjusted regularly by insurance companies. Even if you got the lowest premium rates on Chevy Bolt insurance in Chicago last year other companies may now be cheaper. Block out anything you think you know about insurance because you’re going to get a crash course in the right way to save money, get proper coverage and the best rates.
If you have coverage now, you will be able to get lower rates using these techniques. Finding and buying affordable policy in Chicago is not as confusing as people think. Although Illinois car owners do need to learn how the larger insurance companies determine how much to charge because rates fluctuate considerably.
The most recommended method to get rate comparisons for Chevy Bolt insurance in Chicago is to realize most insurance companies actually pay money for the chance to give free rates quotes. The only thing you need to do is provide details including if you require a SR-22, how much education you have, marital status, and how your vehicles are used. The data is submitted instantly to multiple different insurance companies and you should receive rate quotes quickly.
If you would like to compare rates now, click here and find out if lower rates are available in Chicago.
The following companies are our best choices to provide comparison quotes in Chicago, IL. If multiple companies are shown, it’s highly recommended you visit several of them in order to get a fair rate comparison.
Three reasons to not skimp on auto insurance
Despite the high cost, insuring your vehicle is required for several reasons.
- Most states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability coverage in order to get the vehicle licensed. 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 Chevy, most lenders will force you to carry insurance to ensure they get paid if you total the vehicle. If the policy lapses, the lender will be forced to insure your Chevy at a much higher rate and require you to reimburse them the higher price.
- Auto insurance preserves both your Chevy Bolt and your assets. It will also cover medical bills for you, any passengers, and anyone injured in an accident. Liability coverage also pays for attorney fees and expenses if you are sued as the result of your driving. If your car is damaged in a storm or accident, your policy will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance more than offset the price you pay, particularly for liability claims. According to a 2015 survey, the average American driver is wasting up to $855 a year so we recommend shopping around at every renewal to save money.
Affordable Chicago car insurance quotes with discounts
Some insurance providers do not list every discount very clearly, so the below list has both well-publicized as well as some of the hidden discounts that you can inquire about if you buy Chicago auto insurance online.
- Multiple Vehicles – Having multiple cars on one policy can reduce rates for all insured vehicles.
- Membership in Organizations – Belonging to a professional or civic organization is a good way to get lower rates on your policy.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn better premium rates if you take out life insurance from them.
- No Accidents – Drivers who don’t have accidents can earn big discounts in comparison to drivers with a long claim history.
- Safe Driver Discounts – Drivers without accidents can get discounts for up to 45% lower rates than their less cautious counterparts.
It’s important to understand that some credits don’t apply to all coverage premiums. Most only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Despite the appearance that all those discounts means the company will pay you, it just doesn’t work that way. But any discount will reduce your premiums.
A list of car insurance companies and their offered discounts are shown below.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, passive restraint, defensive driving training, good student, anti-theft, and Drive Safe & Save.
- American Family has discounts for multi-vehicle, early bird, good student, TimeAway discount, mySafetyValet, bundled insurance, and Steer into Savings.
- AAA includes discounts for good driver, education and occupation, anti-theft, good student, multi-car, and pay-in-full.
- GEICO offers discounts for multi-vehicle, emergency military deployment, driver training, daytime running lights, defensive driver, and air bags.
- Mercury Insurance may have discounts that include ease of repair, low natural disaster claims, multi-policy, type of vehicle, multi-car, and age of vehicle.
- Farmers Insurance discounts include bundle discounts, electronic funds transfer, homeowner, pay in full, youthful driver, multi-car, and teen driver.
- Progressive offers discounts including online signing, homeowner, continuous coverage, multi-policy, good student, multi-vehicle, and online quote discount.
If you need affordable Chevrolet Bolt insurance quotes, ask every company the best way to save money. Some of the discounts discussed earlier may not be available in Chicago. If you would like to choose from a list of car insurance companies who offer discounts in Chicago, click this link.
Which is the best auto insurance?
When it comes to the right insurance coverage for your vehicles, there really is no one-size-fits-all type of policy. Every situation is different and your auto insurance should unique, too.
Here are some questions about coverages that may help highlight if you will benefit from professional help.
- How much coverage applies to personal belongings?
- Does car insurance cover theft of personal property?
- Do I get a pro-rated refund if I cancel my policy early?
- What is the premium to book value ratio for dropping full coverage?
- Can I insure my car for more than it’s worth?
- When should I remove comp and collision on my Chevy Bolt?
- What is no-fault insurance?
- Does low annual mileage earn a discount?
- Who sells insurance for high-risk drivers?
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.
Insurance agencies can find coverage gaps
Certain consumers still like to get advice from a local agent and doing so can bring peace of mind One of the great benefits of comparing rate quotes online is you may find cheap auto insurance quotes but also keep your business local. Buying from local agents is still important in Chicago.
For easy comparison, once you complete this simple form, your insurance data is emailed to companies in Chicago who will give competitive quotes for your auto insurance coverage. You won’t even need to contact an agency because quoted prices will be sent to you. You can find better rates without having to waste a lot of time. If you wish to compare rates from a specific insurance company, just navigate to their website and complete a quote there.
When finding a local agent, you must know there are a couple types of insurance agents and how they can quote your rates. Agents in Chicago are categorized either exclusive agents or independent agents.
Independent Auto Insurance Agents
These type of agents are not limited to a single company so as a result can place your coverage amongst many companies and help determine which has the cheapest rates. If prices rise, they simply move your policy to a different company and you don’t have to do anything.
If you need lower rates, you need to compare prices from a couple of independent agencies so that you have a good selection of quotes to compare. A lot of them also have access to small mutual carriers that may provide cheaper auto insurance rates.
Shown below are Chicago independent insurance agents who may provide pricing information.
- Illinois Vehicle Auto Insurance (Xpert)
1858 W 18th St – Chicago, IL 60608 – (312) 226-1033 – View Map
- ABI Insurance Agency
4806 N Milwaukee Ave – Chicago, IL 60630 – (773) 202-9666 – View Map
- Northwest Insurance Network
330 S Wells St #1600 – Chicago, IL 60606 – (312) 427-1777 – View Map
These agents can only quote rates from one company and examples are Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot place coverage with different providers so you might not find the best rates. Exclusive insurance agents receive extensive training on their products and sales techniques which helps them sell on service rather than price. Some people will only buy from the same agent for years mostly because of high brand loyalty rather than low rates.
The following is a short list of exclusive insurance agents in Chicago that can give you price quote information.
- Tamika Echols – State Farm Insurance Agent
1611 N Clybourn Ave – Chicago, IL 60614 – (312) 944-9700 – View Map
- Mark Yun – State Farm Insurance Agent
223 W Cermak Rd, Fl-2 – Chicago, IL 60616 – (312) 225-8311 – View Map
- Peter Grande – State Farm Insurance Agent
1535 W Division St – Chicago, IL 60642 – (773) 270-4600 – View Map
Choosing the best insurance agent requires you to look at more than just the quoted price. A good agent in Chicago will have answers to these questions.
- Do they specialize in personal lines auto insurance in Chicago?
- Is coverage determined by price?
- What insurance company do they write the most business with?
- What is the agency’s Better Business Bureau rating?
- Do they reduce claim amounts on high mileage vehicles?
- Do they assist clients in filing claims?
Car insurance 101
Knowing the specifics of your insurance policy helps when choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Below you’ll find the normal coverages found on the average insurance policy.
Coverage for collisions
Collision insurance pays for damage to your Bolt from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision can pay for things such as crashing into a building, colliding with a tree, rolling your car and crashing into a ditch. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible on your Bolt to bring the cost down.
Comprehensive coverage (or Other than Collision)
This coverage covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things like theft, damage from a tornado or hurricane and rock chips in glass. The highest amount your insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for hospital visits, prosthetic devices, pain medications, rehabilitation expenses and funeral costs. They are often used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible
Liability auto insurance
This coverage can cover damages or injuries you inflict on people or other property by causing an accident. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 20/40/15 which means a limit of $20,000 per injured person, a total of $40,000 of bodily injury coverage per accident, and a total limit of $15,000 for damage to vehicles and property. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability insurance covers things like medical services, structural damage and funeral expenses. How much liability should you purchase? That is up to you, but you should buy as much as you can afford. Illinois requires minimum liability limits of 20/40/15 but you should consider buying higher limits.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage gives you protection when other motorists do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many Illinois drivers have only the minimum liability required by law (20/40/15 in Illinois), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually these limits do not exceed the liability coverage limits.
Compare. Compare. Compare.
Some insurance providers do not offer rates over the internet and these small, regional companies sell through local independent agencies. Discount Chevy Bolt insurance can be found on the web and also from your neighborhood Chicago agents, and you need to comparison shop both to have the best selection.
When you buy Chicago auto insurance online, it’s not a good idea to skimp on critical coverages to save a buck or two. There are many occasions where consumers will sacrifice uninsured motorist or liability limits only to regret that the few dollars in savings costed them thousands. The goal is to get the best coverage possible for the lowest price.
Even more information can be found by following these links:
- Vehicle Size and Weight FAQ (iihs.org)
- Who Has Affordable Auto Insurance Quotes for Drivers with a DUI in Chicago? (FAQ)
- Who Has Affordable Auto Insurance for Single Moms in Chicago? (FAQ)
- Who Has Affordable Car Insurance for Teenage Males in Chicago? (FAQ)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Distracted Driving Statistics (Insurance Information Institute)
- Older Driver Statistics (Insurance Information Institute)