Are you doing reasearch to find more affordable Cadillac Escalade ESV insurance in Chicago? Wish you could get out of an expensive insurance policy? Don’t sweat it because there are a lot of people in Chicago just like you who feel imprisoned by their insurance policy.
Sadly, almost 70% of drivers kept their coverage with the same insurance company for well over three years, and nearly 40% of drivers have never shopped around. Illinois insurance shoppers can save hundreds of dollars each year by just comparing rate quotes, but most undervalue how much they could save if they switched to a cheaper policy. Due to the large number of insurance providers from which to choose, it’s difficult to choose the lowest price insurance provider.
It’s a good habit to compare rates periodically since rates go up and down regularly. If you had the best rate on Cadillac Escalade ESV insurance in Chicago two years ago you can probably find a lower rate today. Ignore everything you know about insurance because you’re about to learn the best methods to remove unneeded coverages and save money.
Save with these six rate reducing discounts
Companies do not advertise every discount available in a way that’s easy to find, so here is a list both the well known and the harder-to-find discounts that you can inquire about if you buy Chicago auto insurance online. If you do not double check each discount you qualify for, you are paying more than you should be.
- Senior Citizens – If you qualify as a senior citizen, you can get a small discount on rates.
- Seat Belt Discounts – Drivers who require all occupants to buckle up before driving could save 15% off the personal injury premium cost.
- Discounts for New Vehicles – Buying a new car instead of a used Escalade ESV can cost up to 25% less since newer vehicles have better safety ratings.
- Drive Less and Save – Driving less could be rewarded with slightly better insurance rates than normal.
- Data Collection Discounts – Drivers that enable their insurance company to study vehicle usage through the use of a telematics system such as State Farm’s In-Drive could save a few bucks as long as the data is positive.
- Save with More Vehicles Insured – Having multiple cars or trucks with the same company can get a discount on all vehicles.
Policy discounts save money, but many deductions do not apply to the entire cost. Some only reduce the price of certain insurance coverages like liability and collision coverage. Just because you may think adding up those discounts means a free policy, it just doesn’t work that way. But all discounts should definitely cut your policy cost.
A few of the larger companies and their possible discounts include:
- Farmers Insurance may have discounts that include youthful driver, bundle discounts, good student, distant student, electronic funds transfer, and multi-car.
- State Farm has discounts for safe vehicle, good student, Steer Clear safe driver discount, passive restraint, and multiple policy.
- Liberty Mutual offers premium reductions for newly retired, exclusive group savings, multi-policy, preferred payment discount, newly married, and hybrid vehicle.
- MetLife has savings for claim-free, defensive driver, good student, accident-free, good driver, and multi-policy.
- Progressive offers discounts including online signing, multi-policy, good student, multi-vehicle, and online quote discount.
Before purchasing a policy, check with each company what discounts are available to you. Depending on the company, some discounts might not be available to policyholders in your state. To find companies that offer many of these discounts in Illinois, click this link.
Most larger insurance companies provide insurance quotes on their websites. The process is easy for anyone as you just enter the coverage amounts you desire into the quote form. Behind the scenes, their rating system gets reports for credit and driving violations and generates pricing information based on the data you entered. This streamlines rate comparisons, and it is important to perform this step in order to find the most affordable premium.
To quickly find out what other companies charge, visit the companies below or click here to submit a quote request to multiple companies at once. If you currently have coverage, we recommend you type in the coverage information just like they are on your policy. Using the same limits helps guarantee you are getting a fair comparison for the exact same coverage.
The auto insurance companies shown below offer price quotes in Illinois. If more than one company is shown, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Escalade ESV 2WD | $182 | $328 | $340 | $20 | $102 | $972 | $81 |
| Escalade ESV 4WD | $240 | $364 | $266 | $16 | $80 | $966 | $81 |
| Escalade ESV Luxury Edition 2WD | $276 | $458 | $352 | $20 | $106 | $1,212 | $101 |
| Escalade ESV Premium Edition 2WD | $294 | $520 | $340 | $20 | $102 | $1,276 | $106 |
| Escalade ESV Luxury Edition 4WD | $238 | $420 | $340 | $20 | $102 | $1,120 | $93 |
| Escalade ESV Premium Edition 4WD | $208 | $350 | $246 | $14 | $74 | $892 | $74 |
| Escalade ESV Platinum Edition 2WD | $368 | $642 | $352 | $20 | $106 | $1,488 | $124 |
| Escalade ESV Platinum Edition 4WD | $232 | $412 | $294 | $18 | $88 | $1,044 | $87 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rates do not factor in specific location information which can increase or decrease premiums substantially.
How much more does full coverage cost?
The information below shows the comparison of Cadillac Escalade ESV car insurance costs with liability coverage only compared to full coverage. The premium estimates are based on no violations or accidents, $1,000 deductibles, single male driver, and no discounts are factored in.
Are you wasting money on full coverage?
There is no set rule to eliminate physical damage insurance, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Cadillac Escalade ESV replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after the deductible is paid. If you are paying over $500 a year for full coverage, the it may be a good time to stop paying for full coverage.
There are some conditions where removing full coverage is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
It’s not one size fits all
Always remember that when buying the right insurance coverage, there really isn’t a cookie cutter policy. Your financial needs are unique.
These are some specific questions might point out if your insurance needs might need an agent’s assistance.
- Am I getting all the discounts available?
- What is glass protection for?
- Which companies are cheaper for teen drivers?
- Can my teen drive my company car?
- Is business property covered if stolen from my car?
- Does coverage follow the driver or the vehicle?
- Am I covered when using my vehicle for business?
- How can I get my company to pay me more for my totalled car?
- Do I pay less if my vehicle is kept in my garage?
If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, take a second and complete this form. It’s fast, free and you can get the answers you need.
Comparing rates from local Chicago car insurance agents
A small number of people still prefer to go talk to an agent and that is OK! Professional agents can help you choose the best coverages and help submit paperwork. A good thing about getting online price quotes is you may find cheap rate quotes and still have a local agent. Buying from and supporting local agencies is important particularly in Chicago.
To make it easy to find an agent, after completing this quick form, your insurance coverage information is submitted to local insurance agents in Chicago that can give you free Chicago auto insurance quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to do any legwork as quotes are delivered directly to your email. In the event you want to compare rates from a specific company, just navigate to their website and give them your coverage information.
Different types of auto insurance agents in Chicago
When narrowing the list to find a good insurance agency, you must know there are a couple types of insurance agents and how they differ in how they can insure your vehicles. Agents in Chicago may be either independent or exclusive depending on the company they work for. Both handle car insurance, but it’s important to know the subtle differences because it can factor into the kind of agent you use.
Independent Car Insurance Agents (or Brokers)
These type of agents do not work for one specific company so they can quote policies amongst many companies and find the cheapest rate. If they find a lower price, they simply move the coverage in-house which makes it simple for you.
If you are comparing rate quotes, you should always check rates from multiple independent agents so that you have a good selection of quotes to compare.
Featured below is a partial list of independent agents in Chicago that can give you comparison quotes.
Active Insurance Agency – Auto Insurance
1034 N Ashland Ave – Chicago, IL 60622 – (773) 286-3473 – View Map
Serpe Insurance Agency
2538 N Lincoln Ave – Chicago, IL 60614 – (773) 871-0808 – View Map
W.A. George Insurance Agency
155 N Michigan Ave #300 – Chicago, IL 60601 – (312) 729-5265 – View Map
Exclusive Insurance Agencies
Agents of this type work for only one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents cannot compare rates from other companies so it’s a take it or leave it situation. Exclusive insurance agents are highly trained on their company’s products which aids in selling service over price.
Listed below are exclusive insurance agencies in Chicago who can help you get price quote information.
Angela Roudez – State Farm Insurance Agent
1505 S State St – Chicago, IL 60605 – (312) 663-1820 – View Map
Liane Williams – State Farm Insurance Agent
3143 W 71st St – Chicago, IL 60629 – (773) 436-7500 – View Map
Peter Grande – State Farm Insurance Agent
1535 W Division St – Chicago, IL 60642 – (773) 270-4600 – View Map
Picking the best car insurance agent requires more thought than just the price. You should also get answers to these questions.
- What is the agency’s Better Business Bureau rating?
- How experienced are they in personal risk management?
- How is replacement cost determined on your vehicle?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- How long has the business existed?
- Can glass claims be handled at your home?
- Who are their largest clients?
- Are they involved in claim handling?
Coverage specifics
Learning about specific coverages of your policy helps when choosing which coverages you need and proper limits and deductibles. Policy terminology can be difficult to understand and reading a policy is terribly boring.
Collision coverage protection
This pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for claims like backing into a parked car, rolling your car, colliding with a tree, sideswiping another vehicle and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible on your Escalade ESV to bring the cost down.
Uninsured/Underinsured Motorist (UM/UIM)
This coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Since a lot of drivers only purchase the least amount of liability that is required (20/40/15 in Illinois), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Normally the UM/UIM limits are identical to your policy’s liability coverage.
Liability
Liability coverage can cover damage or injury you incur to a person or their property. It protects you from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 20/40/15 that means you have $20,000 in coverage for each person’s injuries, $40,000 for the entire accident, and a total limit of $15,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability coverage pays for claims like pain and suffering, medical services and funeral expenses. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as much as you can afford. Illinois state law requires minimum liability limits of 20/40/15 but drivers should carry better liability coverage.
Comprehensive insurance
This pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like a broken windshield, hitting a deer, rock chips in glass, vandalism and fire damage. The maximum payout your car insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage kick in for immediate expenses for things like doctor visits, nursing services, EMT expenses and pain medications. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
One last note
As you shop your coverage around, don’t be tempted to buy poor coverage just to save money. There are too many instances where an insured cut full coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. The aim is to buy a smart amount of coverage for the lowest price but still have enough coverage for asset protection.
People leave their current company for a number of reasons such as not issuing a premium refund, delays in paying claims, an unsatisfactory settlement offer or denial of a claim. Regardless of your reason, switching car insurance companies is easier than you think.
We just presented many tips how you can compare Cadillac Escalade ESV insurance rates in Chicago. The key thing to remember is the more rate quotes you have, the higher your chance of finding inexpensive Chicago auto insurance quotes. Consumers could even find that the biggest savings come from an unexpected company.
More information can be found at these links:
- Distracted Driving (Insurance Information Institute)
- Who Has Cheap Car Insurance Rates for 16 Year Olds in Chicago? (FAQ)
- How Much are Car Insurance Rates for Drivers Requiring a SR22 in Chicago? (FAQ)
- Who Has Cheap Chicago Auto Insurance for Young Drivers? (FAQ)
- Prom Night Tips for Teen Drivers (State Farm)
- Side Impact Crash Tests (iihs.org)
- Get the Right Protection (InsureUonline.org)