Want to learn a better way to compare low-cost car insurance rates in Chicago, IL? Chicago shoppers have many options when shopping for the best price on Lexus ES 350 insurance. You can either spend your time struggling with agents getting price quotes or utilize the internet to make rate comparisons. There are both good and bad ways to find car insurance online and we’ll show you the best way to get price quotes for a new or used Lexus and obtain the lowest possible price either online or from Chicago insurance agents.
It is always a good idea to compare prices once or twice a year due to the fact that insurance prices tend to go up over time. Just because you found the lowest quotes on Lexus ES 350 insurance in Chicago last year there is a good chance you can find better rates now. Forget all the misinformation about car insurance because it’s time to teach you one of the easiest ways to remove unneeded coverages and save money.
Finding the cheapest coverage in Chicago is really not that difficult. If you have a current car insurance policy, you will be able to get lower rates using the tips covered below. Vehicle owners just need to know the fastest way to quote multiple rates from many different companies.
Learn How to Lower Your Insurance Costs
Lots of things are taken into consideration when quoting car insurance. Some are pretty understandable like an MVR report, but other criteria are not quite as obvious such as your credit history or your commute time.
The items below are a few of the “ingredients” used by your company to calculate prices.
- How your age affects costs – Youthful drivers in Illinois are statistically proven to be inattentive behind the wheel so they pay higher auto insurance rates. Older, more experienced drivers have been proven to be more responsible, statistically cause fewer accidents, and are safer drivers.
- Deter vehicle theft – Purchasing a vehicle with anti-theft technology or alarm system can save you a little every year. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping car theft.
- Your liability protection limits – The liability section of your policy will afford coverage when you are found liable for damages from an accident. Liability insurance provides legal defense to defend your case. This coverage is very inexpensive when compared with rates for comp and collision, so do not cut corners here.
- Is insurance coverage cheaper for females or males? – The statistics show that women are safer drivers than men. This data doesn’t prove that women are BETTER drivers than men. Both sexes get in auto accidents at a similar rate, but the males tend to have higher claims. Not only that, but men also get higher numbers of serious violations like driving under the influence (DUI).
- Where you call home – Residing in a small town may provide you with better prices when trying to find low car insurance rates. Less people translates into fewer accidents. Drivers who live in large Illinois cities have to deal with more aggressive driving styles and a longer drive to work. The longer drive time means higher likelihood of an accident.
- Lexus ES 350 statistical loss data – Insurers analyze historical claim data to help calculate premium costs. Vehicles that historically have higher losses will have increased rates. The data below shows the historical loss data for Lexus ES 350 vehicles.
For each coverage type, the claim probability for all vehicles averaged together is considered to be 100. Values that are 100 or less represent a good loss history, while values that are above 100 point to more claims or an increased chance of a larger loss.
Lexus ES 350 Insurance Loss Statistics
Specific Lexus Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Lexus ES 350 4dr 126 79 160 91 100 78
Statistics from IIHS.org for 2013-2015 Model Years
The fastest way that we advise to get policy rate comparisons for Lexus ES 350 insurance in Chicago is to take advantage of the fact car insurance companies provide online access to quote your coverage. All you need to do is give them rating details such as whether your vehicle is owned or leased, what your job is, if it has an anti-theft system, and if a SR-22 is needed. The data is instantly provided to many different companies and they return rate quotes with very little delay.
To find the cheapest car insurance rates, click here and find out if lower rates are available in Chicago.
The companies shown below provide price comparisons in Illinois. If more than one company is shown, it’s a good idea that you get rates from several of them in order to find the lowest rates.
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Premium costs do not factor in specific Chicago garaging location which can increase or decrease prices greatly.
Raise deductibles and save
One of the hardest decisions when shopping for auto insurance is the level to set your comp and collision deductibles. The rates shown below highlight the rate difference when you choose different coverage deductibles. The first data table uses a $100 comprehensive and collision deductible and the second set of prices uses a $500 deductible.
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Table data does not factor in specific location which can influence rates significantly.
Based on the data above, we can derive that using a $100 deductible costs an average of $24 more each month or $288 every year than selecting the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally go at least 17 months between claims, you would more than likely save some money if you choose a higher deductible.
How to decide to raise your deductibles
|Average monthly premium for $100 deductibles:
|Average monthly premium for $500 deductibles (subtract):
|Monthly savings from raising deductible:
|Difference between deductibles ($500 – $100):
|Divide difference by monthly savings:
|$400 / $24
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible
An important sidenote is that higher deductibles means you will have to cover more of the damage yourself when you have to file a claim. That will require enough money stashed away in order to pay the higher deductible in order to repair your vehicle.
How violations and accidents impact rates
The information below demonstrates how citations and at-fault fender-benders increase Lexus ES 350 car insurance rates for different categories of driver ages. The costs are based on a married male driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.
Three good reasons to insure your Lexus vehicle
Even though it can be expensive, insurance serves an important purpose.
First, the majority of states have minimum liability requirements which means you are required to carry a specific minimum amount of liability insurance if you want to drive legally. 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.
Second, if you have a loan on your ES 350, it’s guaranteed your bank will stipulate that you have full coverage to guarantee payment of the loan. If you let the policy lapse, the lender may insure your Lexus at a much higher rate and force you to pay the higher price.
Third, auto insurance preserves both your vehicle and your assets. Insurance will also pay for medical bills for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if you are named as a defendant in an auto accident. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to have it repaired.
The benefits of insuring your ES 350 are definitely more than the cost, specifically if you ever have a liability claim. Today the average American driver overpays as much as $810 a year so we recommend shopping around at every renewal to make sure the price is not too high.
Auto insurance discounts are available to cut your rates
Properly insuring your vehicles can get expensive, but there’s a good chance there are discounts that may help make it more affordable. Some discounts will apply at quote time, but a few must be specifically requested in order for you to get them.
- Onboard Data Collection – Drivers who elect to allow driving data collection to monitor vehicle usage by using a telematic data system like Allstate’s Drivewise could possibly reduce rates if they exhibit good driving behavior.
- First Accident Forgiveness – Not necessarily a discount, but a handful of insurance companies allow you one accident without the usual rate increase with the catch being you have to be claim-free for a certain period of time.
- Theft Prevention Discount – Cars that have factory anti-theft systems can help prevent theft and can earn a small discount on your policy.
- Anti-lock Brake System – Vehicles with anti-lock braking systems are safer to drive so you can save 10 percent or more.
- Multi-line Discount – Larger insurance companies have a small discount if you purchase life insurance.
- Discount for Home Ownership – Owning a home in Chicago can earn you a little savings because maintaining a house means you have a higher level of financial diligence.
- Air Bags and Passive Restraints – Vehicles equipped with air bags can receive discounts as much as 30%.
- Paperless Signup – Many larger companies will give you a small discount shop Chicago auto insurance digitally online.
While discounts sound great, it’s important to understand that some credits don’t apply to the whole policy. Most only reduce specific coverage prices like comprehensive or collision. So when it seems like having all the discounts means you get insurance for free, companies don’t profit that way.
Insurance companies that may offer many of the previously listed discounts include:
When getting a coverage quote, ask each company or agent which discounts can lower your rates. A few discounts might not apply in your area. If you would like to choose from a list of companies that offer multiple discounts in Chicago, click this link.
Buying from insurance agencies
Many drivers still like to visit with an insurance agent and that is a personal choice. Professional agents can make sure you are properly covered and help in the event of a claim. An additional benefit of getting free rate quotes online is that you can obtain the lowest rates but also keep your business local.
Upon completion of this quick form, your coverage information is transmitted to companies in Chicago who will return price quotes for your business. It simplifies rate comparisons since you won’t have to find an agent since price quotes are sent to you. In the event you want to get a comparison quote from one company in particular, you would need to search and find their rate quote page and fill out their quote form.
Finding the right company requires more thought than just a low price. A good agent in Chicago will have answers to these questions.
- Do they offer claims assistance after hours?
- Will the company cover a rental car if your car is getting fixed?
- Are they actively involved in the community?
- Is insurance their full-time profession?
- Does the agent help file claims?
Compare rates from both independent and exclusive car insurance agents
When searching for a reputable insurance agent or broker, there are two different types of agents and how they differ in how they quote coverages. Agencies in Chicago are categorized either independent agents or exclusive agents depending on their employer. Both types can write car insurance policies, but we need to point out the difference in how they write coverage because it can factor into your selection of an agent.
Exclusive Car Insurance Agents
Agents in the exclusive channel can only quote rates from one company and examples are Farmers Insurance, State Farm, Allstate, and AAA. These agents are unable to give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. Exclusive agents are highly trained on their company’s products which helps overcome the inability to quote other rates. Some insured continue to buy insurance from these agents primarily because of the prominence of the brand and the convenience of having a single billing for all their coverages.
Listed below are exclusive agencies in Chicago who can help you get rate quotes.
- Angela Roudez – State Farm Insurance Agent
1505 S State St – Chicago, IL 60605 – (312) 663-1820 – View Map
- Liane Williams – State Farm Insurance Agent
3143 W 71st St – Chicago, IL 60629 – (773) 436-7500 – View Map
- Judith Gleason – State Farm Insurance Agent
2643 N Harlem Ave – Chicago, IL 60707 – (773) 637-8547 – View Map
Independent Agencies or Brokers
Independent agencies are not locked into one company so as a result can place your coverage with many different companies depending on which coverage is best. To transfer your coverage to a different company, your policy is moved internally which is easy for the insured. When comparing car insurance rates, we highly recommend that you include at a minimum one independent agency to maximize your price options. Most can insure with small regional insurance companies which may have better rates.
The following are independent insurance agencies in Chicago who can help you get price quotes.
- Public Insurance Agency
3656 N Cicero Ave – Chicago, IL 60641 – (773) 725-9333 – View Map
- Northwest Insurance Network
330 S Wells St #1600 – Chicago, IL 60606 – (312) 427-1777 – View Map
- Beyer Insurance Agency
35 E Upper Wacker Dr #1730 – Chicago, IL 60601 – (312) 922-5300 – View Map
After getting satisfactory answers to any questions you have and affordable Lexus ES 350 insurance rates in Chicago quotes, you may have just found an auto insurance agent that will insure your vehicles.
Your auto insurance coverage should be tailored to you
When buying the right insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. You are unique.
For example, these questions may help highlight whether you could use an agent’s help.
- Will I lose any money if I cancel my policy before it expires?
- Am I covered while delivering pizza?
- Does insurance cover damages from a DUI accident?
- Is a driver training discount available?
- Do I need rental car coverage?
- Is my dog or cat covered if injured in an accident?
- How does medical payments coverage work?
If you can’t answer these questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, fill out this quick form. It’s fast, free and you can get the answers you need.
We covered many ways to reduce Lexus ES 350 insurance car insurance rates online in Chicago. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding affordable Chicago auto insurance quotes. Consumers could even find that the biggest savings come from a lesser-known regional company.
Insureds change insurance companies for a number of reasons such as high prices, questionable increases in premium, not issuing a premium refund and an unsatisfactory settlement offer. Regardless of your reason for switching companies, finding a great new company is not as hard as you think.
When you buy Chicago auto insurance online, do not skimp on coverage in order to save money. There have been many cases where consumers will sacrifice liability coverage limits only to find out they didn’t have enough coverage. The aim is to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
For more information, feel free to visit these articles:
- Liability Insurance Coverage (Nationwide)
- Who Has Cheap Chicago Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- Who Has Cheap Car Insurance Rates for Good Drivers in Chicago? (FAQ)
- Who Has Affordable Car Insurance Quotes for a GMC Sierra in Chicago? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for Government Employees? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for Teenagers? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- Avoiding Deer Collisions (Insurance Information Institute)