Looking for lower-priced insurance rates in Palatine, IL? Wish you could get out of an overpriced insurance policy? It’s a common feeling and many consumers are feeling buyer’s remorse and feel like there’s no way out.
Statistics show that the vast majority of insurance customers in Illinois have stayed with the same insurance company for at least the last four years, and nearly the majority have never compared quotes from other companies. American insurance shoppers can cut their rates by about $860 a year by just comparing quotes, but they assume it’s a waste of time to compare rate quotes online. Popular companies such as State Farm, Allstate, GEICO and Progressive all claim big savings with ads and it is difficult to ignore the flying pigs and cute green geckos and find the best price available.
You should make it a habit to quote other rates every six months since prices fluctuate regularly. Despite the fact that you may have had the best deal on insurance two years ago you will most likely find a better premium rate today. Ignore everything you know about insurance because I’m going to let you in on the secrets to the things you must know in order to find great coverage at a great price.
Find more affordable auto insurance with these tips
Consumers need to have an understanding of some of the things that go into determining the level of your policy premiums. If you understand what impacts premium levels, this allows you to make educated decisions that may reward you with lower rates.
Is you employer costing you more? – Do you work in a high-stress field? Occupations such as real estate brokers, business owners and emergency personnel tend to have higher premium rates because of high stress and long work hours. Other professions such as professors, athletes and performers generally pay rates lower than average.
Drive a safer car and pay less – Safe vehicles are cheaper to insure. Highly rated vehicles reduce occupant injuries and better occupant protection means lower claim amounts which can mean better rates for you. If your car has ratings of a minimum four stars on Safercar.gov you may pay a lower rate.
How do annual miles impact rates? – Driving a lot of miles every year the higher your rate. Most insurance companies charge rates based on how the vehicle is used. Autos not used for work or commuting can be on a lower rate level than vehicles that are driven to work every day. Verify your auto insurance declarations sheet properly reflects the proper vehicle usage, because it can save money.
How credit rating affects auto insurance costs – Having a good credit score can be a huge factor in calculating your premium rate. So if your credit history can use some improvement, you may save money insuring your vehicle if you improve your credit rating. Consumers who have high credit ratings tend to be better drivers and file fewer claims than drivers with lower credit scores.
Rural areas have lower prices – Living in less populated areas of the country can be a good thing when talking about auto insurance. People who live in big cities regularly have more aggressive driving styles and more time behind the wheel. Fewer people corresponds to lower accident rates as well as less vandalism and auto theft.
The best way to compare insurance rates in your area utilizes the fact almost all companies participate in a system to provide you with a free rate quote. To begin a comparison, all you need to do is provide the companies a bit of rating information such as if a SR-22 is required, distance driven, any included safety features, and whether you are single or married. The rating information is sent automatically to multiple auto insurance providers and you receive quotes quickly.
To start a rate quote now, click here and complete the form.
The providers in the list below are ready to provide price quotes in Palatine, IL. If multiple providers are shown, it’s a good idea that you visit two to three different companies in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LTZ AWD||$944||$472||$79|
|Chevrolet Impala LTZ||$926||$463||$77|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$758||$379||$63|
|Dodge Grand Caravan Hero||$880||$440||$73|
|Dodge Ram Crew Cab TRX 2WD||$1,212||$606||$101|
|Ford Escape XLT 2WD||$744||$372||$62|
|Ford Explorer XLT AWD||$1,046||$523||$87|
|Ford F-150 Lariat King Ranch 4WD||$910||$455||$76|
|Ford Focus SEL 4-Dr Sedan||$726||$363||$61|
|Honda Accord EX 4-Dr Sedan||$512||$256||$43|
|Honda CR-V EX 2WD||$586||$293||$49|
|Honda Civic LX 4-Dr Sedan||$854||$427||$71|
|Hyundai Elantra GLS Touring Station Wagon||$682||$341||$57|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$764||$382||$64|
|Mazda 3 S Sport 4-Dr Hatchback||$940||$470||$78|
|Nissan Altima 2.5 S 4-Dr Sedan||$858||$429||$72|
|Toyota Camry Hybrid||$912||$456||$76|
|Toyota Corolla XLE||$916||$458||$76|
|Toyota RAV4 4WD||$608||$304||$51|
|Get Your Own Custom Quote Go|
Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in vehicle garaging location which can alter premium rates substantially.
Cost of full coverage
The example below examines Chevrolet Malibu yearly insurance costs with and without full coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, married female driver, and no discounts are applied to the premium.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
When to eliminate full coverage
There is no definitive rule of when to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s assume your Chevrolet Malibu book value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $5,000 after paying your policy deductible. If you are currently paying more than $500 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some circumstances where only buying liability is not recommended. If you haven’t paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage.
Three main reasons to buy auto insurance
Even though it’s not necessarily cheap to insure a vehicle in Palatine, buying auto insurance serves a purpose in several ways.
- Most states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability if you don’t want to risk a ticket. 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 bought your vehicle with a loan, it’s guaranteed your bank will stipulate that you buy insurance to ensure they get paid if you total the vehicle. If you let the policy lapse, the bank or lender will purchase a policy for your vehicle at an extremely high rate and require you to fork over for the expensive policy.
- Insurance safeguards both your assets and your car. It will also cover hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your vehicle definitely exceed the price paid, especially for larger claims. The average driver in America is overpaying more than $825 a year so compare quotes from several companies at every policy renewal to be sure current rates are still competitive.
Take advantage of every car insurance discount
Some insurance providers don’t list the entire discount list very clearly, so the following list contains some of the best known in addition to some of the lesser obvious savings tricks you should be using when you buy Palatine car insurance online.
- Theft Prevention System – Vehicles optioned with advanced anti-theft systems are stolen with less frequency and qualify for as much as a 10% discount.
- Good Driver Discount – Drivers without accidents can save up to 40% or more on their Palatine car insurance quote than drivers with accidents.
- Defensive Driver – Taking time to complete a safe driver course could cut 5% off your bill and easily pay for the cost of the class.
- Drivers Ed for Students – Have your child enroll in driver’s education in school or through a local driver safety program.
- Military Discounts – Having an actively deployed family member can result in better rates.
- Paperwork-free – Some of the larger companies will give you a small discount shop Palatine car insurance on their website.
- Memberships – Belonging to a professional or civic organization may earn a discount on your next renewal.
- Discounts for Seat Belt Usage – Requiring all passengers to buckle up could save 15% on the medical payments or PIP coverage costs.
One last thing about discounts, some credits don’t apply to your bottom line cost. Some only reduce the cost of specific coverages such as comp or med pay. Even though it appears all the discounts add up to a free policy, it just doesn’t work that way. But any discount will cut the premium cost.
A list of car insurance companies and a selection of discounts are:
- American Family discounts include good student, Steer into Savings, air bags, good driver, defensive driver, multi-vehicle, and accident-free.
- State Farm has discounts for student away at school, multiple autos, accident-free, good student, driver’s education, and anti-theft.
- 21st Century may offer discounts for 55 and older, good student, defensive driver, automatic seat belts, anti-lock brakes, theft prevention, and teen driver.
- Travelers may include discounts for multi-car, home ownership, hybrid/electric vehicle, multi-policy, early quote, and save driver.
- GEICO includes discounts for defensive driver, anti-lock brakes, multi-policy, emergency military deployment, military active duty, air bags, and anti-theft.
If you need cheaper Palatine car insurance quotes, ask each company or agent which credits you are entitled to. Some of the earlier mentioned discounts may not be offered everywhere. To find companies that have a full spectrum of discounts in Palatine, click here.
Can’t I get rate quotes from local Palatine insurance agents?
Many drivers prefer to buy from a local agent and that is a smart decision Experienced insurance agents can point out coverage gaps and help you file claims. One of the best bonuses of comparing rate quotes online is you may find the lowest rates and still choose a local agent. Buying insurance from neighborhood insurance agencies is especially important in Palatine.
For easy comparison, once you complete this simple form, your information is submitted to agents in your area that can provide free Palatine car insurance quotes for your business. There is no reason to contact an agency because prices are sent immediately to you. If you need to compare prices from a specific insurance company, you just need to go to their quote page to submit a rate quote request.
Exclusive and independent Palatine auto insurance agents
If you would like to find a reputable agency, there are a couple of different types of agents that you can select. Auto insurance agents can either be independent agents or exclusive agents depending on their employer. Either one can write policy coverage, but it’s worth learning how they are different because it can impact which agent you choose.
Independent Agencies or Brokers
Agents of this type are not restricted to one company and that is an advantage because they can write policies with lots of companies and potentially find a lower price. If they find a cheaper price, the agent simply finds a different carrier and you don’t have to find a new agent. If you are trying to find cheaper rates, you need to get several quotes from a couple of independent agencies so that you have a good selection of quotes to compare.
Below is a list of independent insurance agencies in Palatine who can help you get cheap rate quotes.
Exclusive insurance agents can usually just insure with one company such as Farmers Insurance, Allstate, or State Farm. These agents are unable to provide prices from multiple companies so they really need to provide good service. Exclusive agencies are well trained in insurance sales and that enables them to sell even at higher rates.
Below are exclusive insurance agents in Palatine who can help you get price quote information.
Choosing the best car insurance agent requires more thought than just a cheap price quote. Some important questions to ask are:
- How long has their agency been open in Palatine?
- How would your car be valued if totalled?
- Does the agency have a positive business rating?
- Are there any discounts that you might be missing?
- Which company do they place the most coverage with?
The best insurance company isn’t always the cheapest
In this article, we presented a lot of information how to reduce insurance rates online in Palatine. The key thing to remember is the more price quotes you have, the better your chances of lowering your car insurance rates. You may even discover the biggest savings come from a lesser-known regional company. These smaller insurers may have significantly lower car insurance rates on certain market segments than the large multi-state companies such as Allstate and Progressive.
Cheaper insurance in Palatine can be found both online and with local Palatine insurance agents, and you need to price shop both in order to have the best price selection to choose from. Some insurance companies do not offer online price quotes and many times these small, regional companies provide coverage only through independent agents.
More detailed insurance information can be read in these articles:
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- What Auto Insurance is Cheapest After a Speeding Ticket in Chicago? (FAQ)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Auto Insurance Learning Center (State Farm)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Understanding Car Crashes Video (iihs.org)