How long has it been since you sat down and looked for cheaper auto insurance rates in Chicago, IL? Chicago shoppers have options when shopping for affordable Toyota Prius insurance. They can either spend hours struggling with agents to get rate comparisons or leverage the internet to find the lowest rates.
There is a better way to compare auto insurance rates and we’ll show you the best way to compare rates for your Toyota and get the lowest price from Chicago insurance agents and online providers.
You should make it a habit to get comparison quotes as often as possible because prices are variable and change quite frequently. Just because you found the best rates on Toyota Prius insurance in Chicago six months ago you may be paying too much now. You’ll find a ton of advice on Prius insurance on the web, but in just a couple of minutes you can learn the best ways to slash your auto insurance rates in Chicago.
If you have a current insurance policy or need a new policy, you can use this information to find better prices without reducing coverage. This article’s intent is to teach you how auto insurance companies operate and some money-saving tips. Consumers just have to understand the quickest method to shop from many different companies online.
The providers in the list below are ready to provide comparison quotes in Illinois. If multiple companies are shown, we recommend you get rates from several of them in order to find the most affordable rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $138 | $246 | $268 | $16 | $80 | $748 | $62 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rates do not factor in specific zip code location which can influence price quotes considerably.
Auto insurance deductibles
The information below demonstrates how deductibles and can increase or decrease Toyota Prius annual premium costs for each age group. The price estimates are based on a single female driver, full physical damage coverage, and no policy discounts are applied.
Insurance rate increases from tickets or accidents
The illustration below shows how speeding tickets and at-fault fender-benders influence Toyota Prius auto insurance rates for different categories of driver ages. Data assumes a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.
Choosing deductibles
A question often asked by Chicago drivers is how high should the physical damage coverage deductibles be. The following insurance rates highlight the cost difference between high and low physical damage coverage deductibles. The first set of rates uses a $250 deductible for comp and collision and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $228 | $340 | $222 | $14 | $66 | $895 | $75 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $186 | $274 | $222 | $14 | $66 | $762 | $64 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in the specific area where the vehicle is garaged which can decrease or increase prices greatly.
Using the premium rates above, we can conclude that using a $250 deductible could cost the average driver approximately $11 more each month or $132 a year than quoting the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you go at least 23 months between claim filings, you would come out ahead if you decide on a higher deductible.
How to calculate if a higher deductible is a good decision
| Average monthly premium for $250 deductibles: | $75 |
| Average monthly premium for $500 deductibles (subtract): | – $64 |
| Monthly savings from raising deductible: | $11 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $11 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
An important thing to remember is that raising deductibles means you will have to pay more out-of-pocket when you do file a claim. You need to make sure you have some extra savings in order to pay the deductible for vehicle repair.
Insuring your Toyota vehicle just makes sense
Despite the potentially high cost of Toyota Prius insurance, paying for car insurance is required in Illinois but it also protects you in many ways.
First, most states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific minimum amounts of liability insurance in order to drive the car legally. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you have a loan on your Prius, it’s most likely the lender will make it a condition of the loan that you buy full coverage to guarantee loan repayment. If you do not keep the policy in force, the bank may insure your Toyota at a much higher premium rate and make you pay the higher price.
Third, car insurance protects not only your Toyota but also your financial assets. Insurance will pay for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your car insurance policy will pay to repair the damage minus the deductible amount.
The benefits of insuring your car definitely exceed the cost, especially for larger claims. As of last year, the average driver in Illinois overpays as much as $865 each year so smart consumers compare quotes at every policy renewal to help ensure money is not being wasted.
Chicago auto insurance discounts
Auto insurance is expensive, but you might be missing out on some discounts that could help you make your next renewal payment. Most are applied at the time of purchase, but a few need to be manually applied in order for you to get them.
- Distant College Student Discount – Youth drivers who are enrolled in higher education away from home and do not have access to a covered vehicle can receive lower rates.
- Anti-lock Brake System – Cars and trucks with anti-lock braking systems prevent accidents and earn discounts up to 10%.
- Auto/Life Discount – Select companies reward you with a lower price if you buy some life insurance too.
- Drive Safe and Save – Accident-free drivers can pay as much as 50% less compared to accident prone drivers.
- Discounts for Multiple Vehicles – Drivers who insure multiple cars or trucks with one company may reduce the rate for each vehicle.
- Pay Early and Save – If you pay your bill all at once rather than paying in monthly installments you may have a lower total premium amount.
- Theft Deterrent System – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft and can earn a small discount on your policy.
- Drive Less and Save – Maintaining low annual mileage can earn better auto insurance rates on cars that stay parked.
- New Vehicle Savings – Insuring a vehicle that is new may earn a small discount since new vehicles are generally safer.
Don’t be surprised that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce the price of certain insurance coverages like medical payments or collision. Despite the appearance that all the discounts add up to a free policy, companies wouldn’t make money that way. But all discounts should help reduce your policy cost.
A list of auto insurance companies and their offered discounts are included below.
- State Farm discounts include passive restraint, Steer Clear safe driver discount, multiple policy, driver’s education, and good student.
- American Family may offer discounts for good driver, TimeAway discount, early bird, defensive driver, and accident-free.
- AAA includes discounts for pay-in-full, AAA membership discount, multi-policy, anti-theft, education and occupation, and good student.
- GEICO has discounts for emergency military deployment, federal employee, defensive driver, multi-policy, air bags, multi-vehicle, and anti-lock brakes.
- Mercury Insurance has savings for multi-car, good driver, annual mileage, ease of repair, location of vehicle, and accident-free.
- Farmers Insurance offers discounts for switch companies, early shopping, youthful driver, pay in full, multi-car, and alternative fuel.
- Progressive may have discounts that include online signing, homeowner, continuous coverage, multi-policy, multi-vehicle, and good student.
When quoting, ask each company or agent which discounts you may be entitled to. A few discounts might not be offered on policies in Chicago. If you would like to view insurers that offer some of these discounts in Illinois, follow this link.
When to have guidance from a local insurance agent
Many people would rather sit down with an agent. Experienced insurance agents can help you choose the best coverages and help you file claims. One of the great benefits of price shopping on the web is you can get the best rates and also buy local. And providing support for local insurance agencies is still important in Chicago.
To help locate an agent, after submitting this form (opens in new window), the coverage information gets sent to local insurance agents in Chicago who can give free rate quotes to get your business. You don’t have to search for any insurance agencies because prices are sent directly to your email. If you have a need to compare prices for a specific company, just search and find their rate quote page and fill out the quote form the provide.
Choosing the best provider should depend on more than just the premium amount. Any good agent in Chicago should know the answers to these questions.
- Will the company cover a rental car if your car is getting fixed?
- Are they in the agency full-time?
- Is the coverage adequate for your vehicle?
- Has the agent ever had any license suspensions?
- Are there any discounts for paying up front?
- Are all drivers listed on the coverage quote?
- Do the companies they represent have a solid financial rating?
- Is the quote a firm price?
What is the best insurance coverage?
When selecting a policy for your personal vehicles, there is no best way to insure your cars. Your situation is unique so this has to be addressed.
Here are some questions about coverages that may help highlight whether or not you might need professional guidance.
- Why am I required to get a high-risk car insurance policy?
- Is there coverage for injuries to my pets?
- Do I have coverage when pulling a U-Haul trailer?
- What is no-fault insurance?
- Should I bundle my homeowners policy with my auto?
- When should I not buy collision coverage?
- Am I covered if I back into my garage door?
- How much will a speeding ticket raise my rates?
- Should I waive the damage coverage when renting a car?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you want to speak to an agent in your area, complete this form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.
What is YOUR best insurance company?
When searching for the cheapest Toyota Prius rate quotes, do not skimp on coverage in order to save money. There are too many instances where someone sacrificed physical damage coverage and learned later that the few dollars in savings costed them thousands. Your strategy should be to purchase a proper amount of coverage at the best cost while still protecting your assets.
Lower-priced Toyota Prius insurance in Chicago is available from both online companies as well as from independent agents in Chicago, and you need to price shop both to have the best selection. A few companies don’t offer internet price quotes and many times these regional carriers prefer to sell through independent agencies.
More resources
- Senior Drivers (Insurance Information Institute)
- Who Has Cheap Chicago Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- What Insurance is Cheapest for a Toyota Tacoma in Chicago? (FAQ)
- What Car Insurance is Cheapest for Immigrants in Chicago? (FAQ)
- Who Has Affordable Car Insurance for a Kia Optima in Chicago? (FAQ)
- Who Has Affordable Car Insurance Quotes for a Ford Fusion in Chicago? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- Electronic Stability Control FAQ (iihs.org)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)