Do you want a faster way to compare cheaper Mazda 3 insurance in Chicago? No normal person likes having to buy insurance, particularly when the cost is way too high.
Unbelievable but true, most consumers in Illinois have bought insurance from the same company for at least four years, and approximately 38% of consumers have never quoted insurance rates at all. American drivers could save roughly $850 each year by just comparing quotes, but they just assume it takes a lot of time to save money by comparing rate quotes. Insurance companies such as State Farm, GEICO and Farmers Insurance increase brand awareness with TV and radio ads and consumers find it hard to separate fact from fiction and do the work needed to find the best deal.
If you have a policy now or need new coverage, use these techniques to reduce premiums and still get good coverage. Buying the cheapest insurance in Chicago is actually quite easy if you know where to start. Smart shoppers just need to learn the best way to shop for insurance on the web.
The providers in the list below are our best choices to provide price comparisons in Chicago, IL. If the list has multiple companies, it’s highly recommended you get rates from several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|3 I Sport 4-Dr Sedan||$158||$288||$250||$14||$76||$786||$66|
|3 I SV 4-Dr Sedan||$194||$398||$274||$16||$82||$964||$80|
|3 I Touring 4-Dr Sedan||$218||$468||$266||$16||$80||$1,048||$87|
|3 S Sport 4-Dr Hatchback||$220||$392||$266||$16||$80||$974||$81|
|3 S Sport 4-Dr Sedan||$160||$332||$294||$18||$88||$892||$74|
|3 S Grand Touring 4-Dr Hatchback||$252||$492||$352||$20||$106||$1,222||$102|
|3 S Grand Touring 4-Dr Sedan||$108||$210||$246||$14||$74||$652||$54|
|Get Your Own Custom Quote Go|
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium costs do not factor in zip code location which can raise or lower coverage rates considerably.
Careless driving habits raise auto insurance rates
The example below shows how violations and at-fault accidents increase Mazda 3 premium costs for different categories of driver ages. The data is based on a married female driver, full coverage, $100 deductibles, and no other discounts are factored in.
Full coverage versus liability-only
The diagram below examines Mazda 3 annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on a clean driving record, no at-fault accidents, $500 deductibles, single male driver, and no policy discounts are applied.
Are you wasting money on full coverage?
There is no specific rule of when to eliminate physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s say your Mazda 3 replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after paying your policy deductible. If it’s costing in excess of $800 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are some situations where dropping full coverage is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
Gender differences in auto insurance premiums
The information below shows the difference between Mazda 3 car insurance rates for male and female drivers. The premiums are based on no claims or driving citations, full coverage, $250 deductibles, marital status is single, and no additional discounts are factored in.
Car insurance is not optional
Despite the high insurance cost for a Mazda 3 in Chicago, maintaining insurance is required by state law in Illinois and it also provides benefits you may not be aware of.
- Just about all states have mandatory insurance requirements which means state laws require specific minimum amounts of liability protection in order to drive the car. 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 your Mazda has a lien holder, most banks will make it a condition of the loan that you have full coverage to ensure loan repayment if the vehicle is totalled. If you cancel or allow the policy to lapse, the lender will be forced to insure your Mazda at a much higher rate and force you to reimburse them much more than you were paying before.
- Car insurance protects both your Mazda 3 and your assets. Insurance will also pay for medical bills for you, your passengers, and anyone else injured in an accident. Liability insurance also pays for attorney fees and expenses in the event you are sued. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of carrying adequate insurance more than offset the price you pay, particularly for liability claims. Despite what companies tell you, the average driver is wasting up to $855 a year so you should quote rates every year to make sure the price is not too high.
Do drivers who switch really save?
Illinois drivers can’t get away from all the ads for the lowest price auto insurance by Progressive, Allstate and GEICO. They all seem to convey the message that drivers will save a bundle just by moving your policy.
How is it possible that every company can charge you a lower premium?
All companies quote their cheapest rates for the type of driver that will be a good risk. One example of a profitable insured may be between 30 and 50, has a clear driving record, and has a short commute. Any person that fits those parameters will get low rates and most likely will save quite a bit of money when switching.
Consumers who are not a match for those criteria will probably have to pay higher premiums with the end result being business not being written. If you listen closely, the ads state “customers that switch” not “everyone who quotes” save money. That is how insurance companies can confidently make claims like that.
Because each company has a different risk profile, drivers should get a wide range of price quotes. You cannot predict which insurance companies will have the best rates at this point in time.
Insurance discounts help lower rates for Mazda 3 insurance in Chicago
Companies don’t list every available discount very clearly, so we researched a few of the more well known as well as the least known ways to save on insurance.
- Multi-policy Discount – If you can combine your auto and homeowners policy with one company you may save over 10 percent off each policy depending on the company.
- Good Student – Excelling in school may save you up to 25%. Earning this discount can benefit you well after school through age 25.
- One Accident Forgiven – This one isn’t a discount, but companies like Liberty Mutual and GEICO will turn a blind eye to one accident before your rates go up if you have no claims prior to being involved in the accident.
- Save with More Vehicles Insured – Insuring several vehicles on one policy qualifies for this discount.
- Drive Less and Save – Driving fewer miles could qualify for lower rates on the low mileage vehicles.
- Employee of Federal Government – Simply working for the federal government could provide a small rate reduction depending on your company.
- Driver’s Ed – It’s a good idea to have your young drivers successfully complete driver’s ed class as it will make them better drivers and lower rates.
Drivers should understand that most of the big mark downs will not be given to the entire policy premium. Most only apply to specific coverage prices like collision or personal injury protection. So even though you would think it’s possible to get free car insurance, companies wouldn’t make money that way.
Insurance companies that may offer policyholders these discounts are:
Before purchasing a policy, check with every insurance company which discounts you qualify for. Discounts might not be available to policyholders in your area. If you would like to see a list of companies that can offer you the previously mentioned discounts in Chicago, click here to view.
Insurance agents near you
Certain consumers would prefer to sit down with an agent and that can be a smart move Professional insurance agents are trained risk managers and help submit paperwork. The best thing about comparing insurance prices online is that you can obtain lower rates but still work with a licensed agent. And buying from local insurance agencies is important particularly in Chicago.
To make it easy to find an agent, after completing this short form, your insurance coverage information is transmitted to local insurance agents in Chicago who will give you bids for your auto insurance coverage. It’s much easier because you don’t need to find an agent on your own since rate quotes are delivered immediately to you. If for some reason you want to get a comparison quote from a particular provider, you would need to visit that company’s website and fill out the quote form the provide.
Shown below is a list of auto insurance companies in Chicago that may be able to provide comparison quotes for Mazda 3 insurance in Chicago.
Deciding on an insurer should include more criteria than just the quoted price. A good agent in Chicago will have answers to these questions.
- Are they full-time agents?
- Do they see any coverage gaps in your plan?
- Does the company use OEM repair parts?
- Are claim adjusters local or do you have to take your car somewhere else?
- By raising physical damage deductibles, how much would you save?
- How many years have they been established?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
Quote. Compare. Save.
Some insurance providers don’t offer online rate quotes and many times these small, regional companies sell through local independent agents. Lower-priced Mazda 3 insurance in Chicago can be purchased from both online companies as well as from independent agents in Chicago, and you should compare rates from both to get a complete price analysis.
As you prepare to switch companies, don’t be tempted to buy lower coverage limits just to save a few bucks. There are many occasions where consumers will sacrifice liability limits or collision coverage only to find out that their decision to reduce coverage ended up costing them more. The aim is to purchase plenty of coverage at the lowest possible cost, but don’t skip important coverages to save money.
More information is available at the links below
- Electronic Stability Control FAQ (iihs.org)
- How Much are Chicago Car Insurance Rates for Unemployed Drivers? (FAQ)
- How Much are Auto Insurance Quotes for Seniors in Chicago? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- Crash Avoidance Technologies FAQ (iihs.org)
- What does Personal Injury Protection (PIP) Cover? (Allstate)