Tightwads Guide for Saving on Buffalo Grove Auto Insurance

Expensive auto insurance can take a big chunk out of your savings account and put a big crunch on your finances. Comparison shopping is a smart way to lower your monthly bill. Online insurance companies like GEICO and Progressive constantly blast consumers with TV and radio ads and it is difficult to sift through the bull and find the best price available.

It's important to compare prices quite often because prices are constantly changing. Just because you found the best deal last year there is a good chance you can find better rates now. So ignore everything you know about auto insurance because you're going to get a crash course in the proper way to find lower rates on auto insurance.

Good Decisions Result in Lower Rates

Consumers need to have an understanding of some of the elements that help determine the rates you pay for auto insurance. Having a good understanding of what impacts premium levels enables informed choices that can help you get better auto insurance rates.

The following are some of the factors auto insurance companies consider when setting your rates.

  • Bundling policies can get discounts - Many companies give discounts to insureds who have multiple policies with them such as combining an auto and homeowners policy. Discounts can be anywhere from five to ten percent in most cases. Even if you're getting this discount it's still a good idea to comparison shop to ensure the best deal.
  • Teen drivers pay high rates - More mature drivers tend to be more responsible, tend to cause fewer accidents and are safer drivers. Youthful drivers are known to be more careless when driving and because of this, their auto insurance rates are much higher.
  • Increase deductibles and save - Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some instances where coverage would apply would be collision with another vehicle, collision with an animal, or theft. Your deductibles are the amount of money you are required to spend before your auto insurance pays a claim. The more money you are required to pay out-of-pocket, the bigger discount you will receive.
  • Occupation reflects on rates - Did you know your occupation can influence how much you pay for auto insurance? Occupations like doctors, architects and dentists tend to have the highest average rates due to high stress levels and long work hours. Other occupations like pilots, historians and performers receive lower rates.
  • Your spouse saves you money - Being married can get you a discount when buying auto insurance. Marriage means you're more responsible and statistics show married drivers get in fewer accidents.

Buffalo Grove auto insurance quote

Free Buffalo Grove Auto Insurance Quotes

There are several ways to compare auto insurance quotes, and some are more efficient than others. You can spend your afternoon driving to insurance agencies in Buffalo Grove, or you could use the web to get rate comparisons in just a few minutes.

Most of the larger companies enroll in a system that allows shoppers to only type in their quote data once, and at least one company can give them a price based on that data. This eliminates the need for repetitive form submissions for each company you want a rate for.

To submit your quote information now, click here to open in new window.

The only downside to using this type of system is you are unable to specify which providers you want to price. So if you want to choose individual companies to compare rates, we put together a list of companies who write auto insurance in Illinois. Click to view list.

It doesn't matter which method you choose, just make darn sure you compare exactly the same quote information on every quote. If you have mixed coverages then you won't be able to make a fair comparison in Buffalo Grove.

How much can you save with discounts?

Auto insurance companies don't always advertise every available discount in a way that's easy to find, so here is a list both the well known and also the lesser-known auto insurance savings. If you aren't receiving every discount you deserve, you are paying more than you should be.

  • Anti-lock Brake Discount - Vehicles equipped with ABS or steering control can reduce accidents and will save you 10% or more.
  • Resident Student - Children who live away from home and do not have access to a covered vehicle can receive lower rates.
  • Own a Home - Being a homeowner may trigger a auto insurance policy discount due to the fact that maintaining a home requires personal responsibility.
  • No Accidents - Drivers who don't have accidents can earn big discounts compared to accident-prone drivers.
  • E-sign - Some insurance companies may give you up to $50 for buying your policy digitally online.
  • Accident Waiver - A handful of insurance companies allow you one accident before hitting you with a surcharge if you are claim-free for a certain period of time.

As a disclaimer on discounts, most credits do not apply to the overall cost of the policy. Some only reduce specific coverage prices like comprehensive or collision. So even though they make it sound like you could get a free auto insurance policy, auto insurance companies aren't that generous.

To choose providers who offer auto insurance discounts in Buffalo Grove, follow this link.

Save 15 percent in 15 minutes? Is it for real?

Consumers in Illinois can't ignore all the ads for car insurance savings by Allstate and Progressive. All the ads say the same thing about savings after switching to their company.

How can each company claim to save you money? It's all in the numbers.

Different companies have a preferred profile for the driver that makes them money. An example of a preferred risk might be a mature driver, insures multiple vehicles, and has great credit. A customer getting a price quote who fits that profile will get very good rates and is almost guaranteed to save when they switch companies.

Consumers who don't meet the requirements will be charged higher rates which usually ends up with the customer not buying. The ads say "customers who switch" but not "drivers who get quotes" save that much. This is how companies can truthfully advertise the savings. That is why you need to quote coverage with many companies. It's impossible to know which insurance companies will give you the biggest savings.

How much car insurance do I need?

When buying proper insurance coverage for your personal vehicles, there really is not a perfect coverage plan. Every situation is different and a cookie cutter policy won't apply. For example, these questions may help you determine if your insurance needs would benefit from professional advice.

  • Do I need PIP (personal injury protection) coverage in Illinois?
  • Why does it cost so much to insure a teen driver in Buffalo Grove?
  • Does my policy cover my teen driver if they drive my company car?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Does my liability insurance cover pulling a trailer or camper?
  • Does my policy cover me when driving someone else's vehicle?
  • Can I rate high risk drivers on liability-only vehicles?
  • Is my nanny covered when driving my vehicle?

If you don't know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don't have a local agent, fill out this quick form or click here for a list of auto insurance companies in your area. It is quick, free and you can get the answers you need.

Even more information is available at the Illinois Department of Insurance website. Visitors are able to read consumer alerts, read enforcement actions against agents and companies, report car insurance fraud, and read industry bulletins.

Buffalo Grove auto insurance comparison

In the end, you save

As you prepare to switch companies, it's a bad idea to reduce coverage to reduce premium. Too many times, drivers have reduced liability limits or collision coverage only to find out that the small savings ended up costing them much more. The aim is to find the BEST coverage at the best price, not the least amount of coverage.

Cheap auto insurance can be sourced both online and also from your neighborhood Buffalo Grove agents, and you need to price shop both to get a complete price analysis. There are still a few companies who may not provide online price quotes and many times these smaller companies only sell through independent insurance agents.

We covered a lot of tips how to compare auto insurance prices online. The most important thing to understand is the more quotes you get, the better your chances of lowering your rates. Drivers may discover the best price on auto insurance is with some of the smallest insurance companies. These smaller insurers may have significantly lower rates on certain market segments compared to the large companies like .