Tightwads Guide to Saving on Hinckley Auto Insurance

Are you tired of being strong-armed each month for car insurance? You're in the same situation as many other drivers in Illinois.

Because you have many companies and agents to choose from, it can be hard to find the most cost effective insurance company.

It's important to do rate comparisons once or twice a year since insurance rates are constantly changing. Just because you found the best price last year you can probably find a better price now. Forget anything you know (or think you know) about auto insurance because you're about to learn the quickest way to properly buy coverages while reducing your premium.

Choosing the best insurance company for you in Hinckley is easy if you know what you're doing. If you currently have a car insurance policy, you will be able to lower your premiums substantially using these techniques. But Illinois vehicle owners do need to know the way companies sell online and apply this information to your search.

Why some people pay less for insurance in Hinckley

Consumers need to have an understanding of the factors that play a part in calculating auto insurance rates. When you know what positively or negatively controls the rates you pay allows you to make educated decisions that may reward you with much lower annual insurance costs.

Shown below are a few of the "ingredients" companies use to determine rates.

  • Males pay more for insurance - The statistics show women tend to be less risk to insure than men. Now that doesn't mean women are better drivers. Both sexes cause accidents in similar percentages, but the males tend to have more serious accidents. They also get more serious tickets like reckless driving and DUI.
  • Car features impact rates - Driving a car with a theft deterrent system can help lower your rates. Theft prevention devices such as GM's OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
  • Low deductibles can be expensive - Physical damage coverage, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Examples of covered claims are collision with another vehicle, damage from fire, and burglary. The deductibles are how much you are willing to pay out-of-pocket in the event of a claim. The higher the amount you're willing to pay, the less your company will charge you for insurance.
  • Your credit rating is important - Credit score is a big factor in your rate calculation. Drivers with good credit tend to file fewer claims and have better driving records than drivers with lower credit scores. Therefore, if your credit is low, you could save money insuring your by improving your rating.
  • Keep rates low by being claim-free - Car insurance companies in Illinois generally give discounts to people who file claims infrequently. If you frequently file small claims, you can expect either policy cancellation or increased premiums. Your insurance policy is intended to be relied upon for major claims that would cause financial hardship.
  • Multiple policies with one company can save - Some insurance companies will give a discount to people who buy several policies from them, otherwise known as a multi-policy discount. Even though this discount sounds good, it's still a good idea to comparison shop to make sure you are getting the best deal. Drivers may still find better rates by buying insurance from more than one company.
  • Do you work long hours in a high stress job? - Jobs such as lawyers, social workers and stock brokers tend to pay the highest rates due to stressful work requirements and long work days. On the other hand, jobs such as farmers, students and retirees have the lowest average rates.

Hinckley auto insurance comparison

More discounts equal less premium

Companies offering auto insurance don't always list all their discounts very well, so we took the time to find some of the best known and also the lesser-known discounts you could be receiving.

  • Senior Discount - If you're over the age of 55, you may receive reduced rates.
  • Pay Now and Pay Less - By paying your policy upfront instead of making monthly payments you can actually save on your bill.
  • Homeowners Pay Less - Owning a house in Hinckley can save you money because maintaining a house is proof that your finances are in order.
  • Passive Restraints - Factory air bags can receive discounts of more than 20%.
  • Employee of Federal Government - Employees or retirees of the government could cut as much as 10% off with select insurance companies.
  • Bundle and Save - If you insure your home and vehicles with the same insurance company you will save at least 10% off all policies.
  • Accident Free - Claim-free drivers can save substantially as compared to accident-prone drivers.
  • Drive Less and Save - Low mileage vehicles can earn a substantially lower rate.
  • Safety Course Discount - Successfully completing a course teaching defensive driving skills could save 5% or more if your company offers it.
  • Good Students Pay Less - This discount can earn a discount of 20% or more. This discount can apply up until you turn 25.

Drivers should understand that some credits don't apply to the entire cost. Most only cut specific coverage prices like liability, collision or medical payments. So despite the fact that it appears all the discounts add up to a free policy, companies wouldn't make money that way.

To choose companies with discount auto insurance rates in Illinois, click here.

Switch companies and save? Really?

Auto insurance companies such as Progressive, GEICO, Allstate and State Farm consistently run ads in print and on television. They all seem to have a common claim that you'll save big if you change to them. But how can every company say the same thing? It's all in the numbers.

Insurance companies can use profiling for the type of driver that makes them money. For example, a desirable insured might be profiled as between the ages of 30 and 50, has no tickets, and drives newer vehicles. A propective insured that hits that "sweet spot" will qualify for the lowest rates and therefore will save a lot of money.

Consumers who do not match this ideal profile will have to pay higher rates and this can result in business not being written. The ad wording is "customers who switch" not "everyone that quotes" save money. That's why companies can claim big savings. Because of the profiling, you should get a wide range of price quotes. It's not possible to predict the company that will give you the biggest savings.

More Illinois auto insurance information

More detailed Illinois auto insurance information can be found at the Illinois Department of Insurance website. Illinois drivers can learn about insurance regulations, view a list of available companies, report car insurance fraud, and find out industry alerts.

Other informative sites include this Car Insurance FAQ and this page of insurance agents in Hinckley.

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Shop smart and save

When trying to cut insurance costs, don't be tempted to buy poor coverage just to save money. There are many occasions where an insured dropped physical damage coverage only to regret at claim time that it was a big mistake. Your aim should be to purchase a proper amount of coverage at the best price.

Budget-conscious auto insurance can be sourced on the web and with local Hinckley insurance agents, and you should compare price quotes from both to get a complete price analysis. A few companies do not offer online price quotes and most of the time these regional insurance providers sell through independent agents.