How to Know You're Paying Too Much for Auto Insurance in Oak Park

Nobody likes having to buy auto insurance, particularly when they are paying too much. Drivers have so many to pick from, and even though it's nice to have multiple companies, too many choices makes it more difficult to compare rates.

It's important to compare prices occasionally because prices are constantly changing. If you had the best deal last year you will most likely find a better rate today. Starting right now, forget anything you know (or think you know) about auto insurance because you're going to get a crash course in the only way to find lower rates on auto insurance.

Buying car insurance in Oak Park is easy if you know what you're doing. If you have car insurance now, you will be able to save some money using these methods. Illinois vehicle owners just need to know the most effective way to get comparison quotes online.

Take advantage of discounts

Auto insurance companies don't necessarily list every available discount very clearly, so here is a list both the well known and also the lesser-known discounts you could be receiving. If you're not getting every credit you qualify for, you are throwing money away.

  • Sign Early and Save - Some companies give discounts for buying a policy prior to your current policy expiring. It can save you around 10%.
  • Multi-policy Discount - If you have multiple policies with the same company you may earn up to 20% off your total premium.
  • Federal Employees - Active or retired federal employment can save as much as 8% with certain companies.
  • Life Insurance Discount - Select insurance companies reward you with a discount if you purchase a life insurance policy as well.
  • E-sign - Certain companies may give you up to $50 for buying a policy and signing up over the internet.
  • Homeowners Savings - Being a homeowner can save you money because of the fact that having a home requires personal responsibility.
  • Passive Restraints - Vehicles with factory air bags or motorized seat belts may earn rate discounts of more than 20%.
  • Drivers Education - Make teen driver coverage more affordable by requiring them to take driver's ed class in high school.
  • Lower Rates for Military - Being deployed with a military unit can result in better rates.
  • Anti-theft Discount - Vehicles with anti-theft systems prevent vehicle theft and earn discounts up to 10%.

Drivers should understand that some of the credits will not apply to your bottom line cost. Some only reduce specific coverage prices like medical payments or collision. So when it seems like all the discounts add up to a free policy, companies wouldn't make money that way.

Illinois auto insurance

How to know if you need help

When it comes to buying proper insurance coverage for your vehicles, there isn't really a perfect coverage plan. Every situation is different and your policy should reflect that. These are some specific questions might point out whether your personal situation would benefit from professional advice.

  • Does my car insurance cover rental cars?
  • Am I covered when driving in Canada or Mexico?
  • Do I have coverage for damage caused while driving under the influence?
  • What are the financial responsibility laws in Illinois?
  • Does my liability insurance cover pulling a trailer or camper?
  • When do I need to add a new car to my policy?
  • Should I drop comprehensive coverage on older vehicles?

If you can't answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you don't have a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area. It's fast, doesn't cost anything and you can get the answers you need.

Are auto insurance companies telling the truth?

Consumers in Illinois get pounded daily by advertisements for cheaper car insurance from the likes of State Farm and Allstate. All the ads have a common claim that you'll save big if you move your coverage to them.

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

All companies have a certain "appetite" for the type of customer that earns them a profit. An example of a preferred risk might be a mature driver, owns a home, and has great credit. A customer getting a price quote that hits that "sweet spot" will get very good rates and most likely will save when switching.

Drivers who don't qualify for these standards will be charged a higher premium and this can result in the customer not buying. The ads say "customers who switch" not "people who quote" save that much money. That is how companies can advertise the savings. That is why you should quote coverage with many companies. It's impossible to know which company will give you the biggest savings.

For more Illinois car insurance information

More detailed Illinois auto insurance information is available at the Illinois Department of Insurance website. Visitors are able to file complaints about a company, read consumer alerts, download brochures, and file complaints about an insurance agent or broker.

Also read more on III.org's auto insurance page and this directory of insurance agents in Oak Park Illinois.

Oak Park auto insurance quote

In the end, you save

We covered a lot of techniques to reduce auto insurance prices online. The key concept to understand is the more you quote, the higher your chance of finding lower rates. Drivers may discover the best price on auto insurance is with some of the smallest insurance companies. Regional companies may only write in your state and offer lower rates than their larger competitors like .

As you prepare to switch companies, make sure you don't buy lower coverage limits just to save a few bucks. There have been many cases where an insured cut comprehensive coverage or liability limits to discover at claim time that the small savings ended up costing them much more. Your goal should be to find the BEST coverage at the best price, not the least amount of coverage.