If price shopping auto insurance online is new to you, it’s easy to be confused by the sheer number of online companies selling insurance in Elgin.
Consumers need to price shop coverage before your policy renews due to the fact that insurance rates change quite often. If you had the best deal two years ago there may be better deals available now. Starting now, forget all the misinformation about auto insurance because it’s time to teach you how to quote online to remove unneeded coverages and save money.
The purpose of this post is to help you learn how to get online quotes and some money-saving tips. If you currently have car insurance, you will most likely be able to lower your premiums substantially using these methods. Illinois consumers just need to know the proper methods to shop for auto insurance over the internet.
Why you might pay higher rates in Elgin
An important part of buying insurance is that you know the factors that play a part in calculating the price you pay for auto insurance. When you know what positively or negatively determines base rates empowers consumers to make smart changes that could result in better auto insurance rates.
Shown below are a partial list of the pieces used by your company to calculate premiums.
- A clean driving record saves money – Drivers who don’t get tickets tend to pay less for car insurance than people who have multiple driving citations. Even a single moving violation can bump up the cost by as much as thirty percent. Drivers with severe tickets such as DUI or reckless driving are required to submit a SR-22 form to the state department of motor vehicles in order to drive a vehicle legally.
- Credit scores impact auto insurance rates – A driver’s credit rating is a big factor in determining what you pay for auto insurance. Drivers with high credit scores tend to file fewer claims and have better driving records as compared to drivers with poor credit. So if your credit rating can use some improvement, you could save money insuring your by repairing your credit.
- Extra coverages can waste money – There are many extra coverages that can waste your money if you aren’t careful. Things like roadside assistance, accident forgiveness and term life insurance are examples of these. They may seem good when talking to your agent, but if they’re wasting money remove them from your policy.
- More performance means more cost – The type of car you drive makes a significant difference in the rate you pay. The lowest base rates are generally reserved for economy passenger models, but there are many factors that impact the final cost.
- Never let your coverage lapse – Having an insurance coverage lapse will be a sure-fire way to pay more for auto insurance. Not only will you pay more, getting caught without coverage might get you a license revocation or jail time.You may have to submit proof of financial responsibility or a SR-22 with the Illinois department of motor vehicles.
- Small claims can cost you – Car insurance companies in Illinois give cheaper rates to people who are claim-free. If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Car insurance is intended to be relied upon for the large, substantial claims.
- Liability coverage protects you – The liability section of your policy is the coverage that protects you if a jury decides you are liable for personal injury or accident damage. It provides for a legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.
- Sex matters – Statistics show that men are more aggressive behind the wheel. However, don’t assume that men are worse drivers. Both sexes have accidents in similar numbers, but the males cause more damage and cost insurance companies more money. They also have more aggressive citations like reckless driving and DUI.
Lots of discounts mean lots of savings
Properly insuring your vehicles can get expensive, but discounts can save money and there are some available to help bring down the price. Certain discounts will be applied at the time of quoting, but some may not be applied and must be inquired about before they will apply. If they aren’t giving you every credit you deserve, you’re paying more than you need to.
- Defensive Driving Course – Successfully completing a course teaching defensive driving skills can save you 5% or more depending on where you live.
- Discount for Life Insurance – Larger companies have better rates if you take out life insurance.
- Save with a New Car – Putting insurance coverage on a new car can cost up to 25% less compared to insuring an older model.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles are safer to drive and will save you 10% or more.
- Employee of Federal Government – Simply working for the federal government can earn a discount up to 10% with certain companies.
- Multiple Policy Discount – When you have multiple policies with one insurance company you will save at least 10% off all policies.
- No Charge for an Accident – Some insurance companies will allow you to have one accident before your rates go up so long as you haven’t had any claims for a set time period.
As a disclaimer on discounts, some of the credits will not apply the the whole policy. Most only cut specific coverage prices like comp or med pay. So when the math indicates you could get a free auto insurance policy, companies don’t profit that way. But any discount will reduce the cost of coverage.
For a list of insurance companies with discount auto insurance rates in Elgin, click here to view.
For more Illinois auto insurance information
More information is located on the Illinois Department of Insurance website through this link. Visitors are able to find out industry alerts, get help finding coverage, read enforcement actions against agents and companies, and learn about insurance regulations.
Shop smart and save
We just covered a lot of tips how to get a better price on auto insurance. It’s most important to understand that the more quotes you get, the better your comparison will be. Drivers may discover the best price on auto insurance is with some of the lesser-known companies.
Cost effective auto insurance can be sourced online in addition to many Elgin insurance agents, so compare prices from both in order to have the best price selection to choose from. Some auto insurance companies do not provide you the ability to get quotes online and these regional insurance providers work with independent agents.
As you restructure your insurance plan, it’s very important that you do not buy poor coverage just to save money. Too many times, an accident victim reduced liability limits or collision coverage and learned later they didn’t purchase enough coverage. Your aim should be to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.