Price shopping your Pontiac GTO insurance in Chicago could be kind of frustrating for drivers who have little experience buying insurance online. When there are so many companies in the marketplace, it can easily turn into a big hassle to find the best price in Illinois on Pontiac GTO insurance.
Sadly, the vast majority of consumers renewed their policy with the same company for a minimum of four years, and nearly the majority have never compared rate quotes at all. Many consumers in Chicago could save about $590 a year just by shopping around, but most undervalue the amount of savings they would get if they replace their high priced policy.
It’s smart to shop coverage around occasionally due to the fact that insurance prices are constantly changing. Even if you think you had the best rate on Pontiac GTO insurance in Chicago last year there may be better deals available now. You can find a lot of information about GTO insurance on the internet, but I’m going to show you some great ideas on how to save money.
When quoting auto insurance, remember that getting more free quotes helps improve the odds of finding a lower rate than you’re paying now. Not every company provides price estimates online, so it’s necessary to compare price estimates from them as well.
The companies shown below provide comparison quotes in Chicago, IL. If multiple companies are listed, we suggest you visit as many as you can in order to find the cheapest rates.
Insurance is not optional but you don’t have to overpay
Even though Chicago GTO insurance rates can get expensive, insurance is required by state law in Illinois and it also provides benefits you may not be aware of.
- The majority of states have mandatory insurance requirements which means you are required to buy specific minimum amounts of liability insurance in order to license the vehicle. 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 vehicle has a loan, almost all lenders will make it a condition of the loan that you carry insurance to guarantee payment of the loan. If you default on your policy, the bank or lender will purchase a policy for your Pontiac for a lot more money and require you to reimburse them for it.
- Insurance safeguards your Pontiac and your assets. It will also reimburse you for hospital and medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your car definitely exceed the cost, particularly if you ever have a claim. Today the average American driver overpays more than $865 each year so smart consumers compare quotes at least once a year to make sure the price is not too high.
Components of Your Pontiac GTO Insurance Premiums
Lots of things are taken into consideration when you quote your car insurance policy. Most are fairly basic like your driving record, but others are more transparent such as your marital status or how financially stable you are. Consumers need to have an understanding of the different types of things that go into determining your auto insurance rates. If you understand what influences your rates, this allows you to make good choices that may reward you with lower auto insurance prices.
- Liability insurance preserves assets – The liability coverage on your policy will provide protection if you are responsible for causing damage or personal injury in an accident. Your liability coverage provides legal defense coverage which can cost a lot. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so buy as much as you can afford.
- Insurance rates for married couples – Getting married can get you a discount on your auto insurance bill. Having a significant other translates into being more mature than a single person it has been statistically shown that drivers who are married are more cautious.
- Certain vocations raise premiums – Jobs like doctors, architects and emergency personnel tend to pay higher premium rates in part from job stress and lots of time spent at work. Conversely, careers such as farmers, engineers and retirees pay lower than average rates.
- Teenagers vs. mature drivers – Older, more experienced drivers have been proven to be more responsible, tend to file fewer claims, and are safer drivers.Teen drivers tend to be less responsible when driving therefore auto insurance rates are much higher.
- Always keep your policy in force – Not maintaining insurance is a misdemeanor and as a result your rates will increase for letting your insurance lapse. Not only will you pay higher rates, failure to provide proof of insurance could result in fines and jail time. You may then be required to file a SR-22 with the Illinois motor vehicle department to get your license reinstated.
These discounts can lower your insurance quotes
Properly insuring your vehicles can get expensive, but there are discounts available that could drop your premiums quite a bit. Some of these discounts will be visible when you quote, but less common discounts must be asked for before you get the savings.
- No Claims – Claim-free drivers are rewarded with significantly better rates on Chicago auto insurance quote in comparison to bad drivers.
- Renewal Discounts – A few companies give discounts for renewing your policy prior to your current GTO insurance policy expiring. The savings is around 10%.
- Multiple Vehicles – Having all your vehicles with the same insurance company may reduce the rate for each vehicle.
- Defensive Driver – Participating in a course that instructs on driving safety can save you 5% or more and easily recoup the cost of the course.
- College Student Discount – Older children living away from Chicago attending college and do not have a car could qualify for this discount.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to fasten their seat belts could save 15% off the medical payments premium.
- Good Grades Discount – Excelling in school can earn a discount of 20% or more. You can use this discount normally well after school through age 25.
- Pay Early and Save – If you can afford to pay the entire bill as opposed to paying monthly you can avoid the installment charge.
Don’t be shocked that some credits don’t apply to the whole policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. Even though it may seem like adding up those discounts means a free policy, companies don’t profit that way.
A list of companies and the discounts they provide are included below.
- Progressive includes discounts for homeowner, good student, continuous coverage, multi-policy, online signing, and multi-vehicle.
- AAA offers premium reductions for multi-policy, pay-in-full, anti-theft, good driver, good student, and multi-car.
- Farmers Insurance may have discounts that include youthful driver, homeowner, teen driver, distant student, electronic funds transfer, and business and professional.
- GEICO offers discounts including good student, anti-lock brakes, membership and employees, daytime running lights, and federal employee.
- Esurance may offer discounts for safety device, anti-lock brakes, Pac-12 alumni, defensive driver, online quote, good student, and homeowner.
- SAFECO has savings for safe driver, teen safe driver, teen safety rewards, multi-car, drive less, and anti-lock brakes.
- State Farm discounts include Steer Clear safe driver discount, multiple policy, good student, Drive Safe & Save, student away at school, accident-free, and multiple autos.
If you want inexpensive Chicago auto insurance quotes, ask every prospective company which discounts you qualify for. Some of the earlier mentioned discounts might not be available to policyholders in your area.
When to get advice from an insurance agency
Many people just prefer to talk to a local agent and that is a smart decision The best thing about price shopping on the web is the fact that drivers can get lower rates and also buy local. And supporting local insurance agents is important especially in Chicago.
By using this simple form, the quote information is transmitted to insurance agents in Chicago that can provide free Chicago auto insurance quotes to get your business. You won’t even need to even leave your home because prices are sent straight to your inbox. You can get cheaper car insurance rates and a licensed agent to work with. In the event you want to get a rate quote from a particular provider, feel free to search and find their rate quote page and fill out the quote form the provide.
Types of car insurance agents in Chicago
If you are searching for a reputable insurance agent or broker, it helps to know the two different agency structures that differ in how they can insure your vehicles. Agencies in Chicago can be described as either exclusive or independent agents depending on their company appointments.
Agents that choose to be independent do not write with just one company so they have the ability to put coverage with any number of different companies and find the cheapest car insurance rates. If your agent finds better pricing, they can switch companies in-house and you don’t have to find a new agent. If you are comparing rate quotes, we recommend you check rates from at least one independent agent in order to compare the most rates. Most can insure with less well-known companies that may have much lower rates than larger companies.
Shown below is a list of independent insurance agents in Chicago that may be able to provide competitive price quotes.
- American Auto Insurance
3201 N Harlem Ave #1 – Chicago, IL 60634 – (773) 286-3500 – View Map
- Northwest Insurance Network
330 S Wells St #1600 – Chicago, IL 60606 – (312) 427-1777 – View Map
- Active Insurance Agency – Auto Insurance
1034 N Ashland Ave – Chicago, IL 60622 – (773) 286-3473 – View Map
Exclusive Insurance Agencies
These agents generally can only insure with one company and examples are Farmers Insurance, Allstate, or State Farm. These agents are not able to compare rates from other companies so it’s a take it or leave it situation. These agents are well trained in insurance sales which helps them sell on service rather than price. Some insured continue to purchase coverage from exclusives mainly due to high brand loyalty rather than low price.
The following are exclusive agents in Chicago willing to provide comparison quotes.
- Jim Mays Jr – State Farm Insurance Agent
4465 N Milwaukee Ave – Chicago, IL 60630 – (773) 282-1500 – View Map
- Mark Yun – State Farm Insurance Agent
223 W Cermak Rd, Fl-2 – Chicago, IL 60616 – (312) 225-8311 – View Map
- Vivian Valtas – State Farm Insurance Agent
6108 S Archer Ave – Chicago, IL 60638 – (773) 582-3322 – View Map
Finding a good insurance agent is decision based upon more than just a cheap quote. Before buying a policy in Chicago, get answers to these questions.
- Will they take your side in the event of a claim?
- How much will you save each year by using a higher deductible?
- Does the agency provide any after hours assistance?
- Has the agent ever had any license suspensions?
- Is the agent CPCU or CIC certified?
- Is auto insurance their primary focus in Chicago?
- Can they provide you with a list of referrals?
- What company do they have the most business with?
Cheaper car insurance is a realistic goal
We’ve covered many tips how you can lower your Pontiac GTO insurance premium rates in Chicago. The key concept to understand is the more price quotes you have, the better chance you’ll have of finding cheaper Chicago auto insurance quotes. You may even find the lowest premium rates are with a company that doesn’t do a lot of advertising.
As you prepare to switch companies, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are many occasions where someone sacrificed full coverage only to find out they didn’t purchase enough coverage. The ultimate goal is to find the BEST coverage at a price you can afford, but don’t skip important coverages to save money.
The cheapest Pontiac GTO insurance in Chicago can be purchased on the web as well as from insurance agents, and you should compare rates from both to have the best rate selection. There are still a few companies who don’t offer rates over the internet and most of the time these small insurance companies provide coverage only through independent agents.
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance with Multiple Speeding Tickets in Chicago? (FAQ)
- Who Has Cheap Auto Insurance for Drivers Under 21 in Chicago? (FAQ)
- How Much are Chicago Auto Insurance Quotes for Retired Military? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Should I Buy a New or Used Car? (Allstate)
- Get the Right Protection (InsureUonline.org)