Save Money on Toyota Venza Insurance in Chicago

Are you irritated from sacrificing other expenses to pay your car insurance bill each month? Your situation is no different than many other Illinois drivers.

Amazlingly, a recent NerdWallet.com study showed that the majority of drivers have remained with the same car insurance company for over three years, and almost 40% of drivers have never compared rate quotes at all. With the average car insurance premium being $1,500, Chicago drivers could save themselves almost 40% a year just by comparing rates, but they won’t spend time to compare rates online. Big-name insurance companies like State Farm, Progressive and GEICO continually bombard you with fancy advertisements and consumers find it hard to not get sucked in by the cute commercials and find the best price available.

If you are insured now or want to find a cheaper company, you can use these techniques to cut your premiums without reducing coverage. Finding affordable auto insurance coverage in Chicago is quite easy if you know the best way to do it. Comparison shoppers only need to know the most efficient way to compare prices from many companies at once.

Reducing your insurance rates is actually easier than you may think. All you need to do is take time comparing free Chicago auto insurance quotes from different insurance companies.

Comparing rate quotes online is fast and free, and it makes it a waste of time to physically go to different agent offices. Comparing online rate quotes has made agencies unnecessary unless you have a complicated situation and need the advice and guidance of a local agent. Although you can compare online quotes but purchase the actual policy in an agency.

The following companies have been selected to offer free rate quotes in Chicago, IL. If multiple companies are listed, we suggest you compare several of them in order to get a fair rate comparison.

Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Premium amounts do not factor in specific zip code location which can affect prices noticeably.

Deductible analysis

A question often asked by Chicago drivers is what deductibles to buy. The rates shown below may help to illustrate the difference in cost when you buy lower versus higher physical damage coverage deductibles. The first data set uses a $250 comprehensive and collision deductible and the second rate chart uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Table data does not factor in zip code location which can decrease or increase coverage rates substantially.

Based on the above data, using a $250 deductible costs an average of $12 more each month or $144 each year than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to average more than 21 months between claims, you would probably be better off if you opt for a higher deductible.

Yearly auto insurance costs for men versus women

The chart below visualizes the comparison of Toyota Venza insurance premiums for male and female drivers. The premiums are based on no claims, a clean driving record, comprehensive and collision coverage, $250 deductibles, single marital status, and no discounts are applied to the premium.

Buying the right vehicle insurance in Illinois is an important decision

Despite the potentially high cost of Toyota Venza insurance, buying car insurance may be required and benefits you in several ways.

First, most states have minimum liability requirements which means you are required to carry a minimum amount of liability insurance if you drive a vehicle. 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 your Toyota Venza has a lien holder, almost every bank will require you to carry insurance to ensure loan repayment if the vehicle is totalled. If you do not keep the policy in force, the bank or lender will purchase a policy for your Toyota at a more expensive rate and require you to fork over for the much more expensive policy.

Third, insurance protects not only your Toyota but also your financial assets. It will also provide coverage for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.

The benefits of insuring your car more than cancel out the cost, especially for larger claims. According to a 2015 survey, the average American driver is wasting up to $869 every year so we recommend shopping around at least once a year to make sure the price is not too high.

Do you qualify for discounts?

Companies that sell car insurance do not list all possible discounts in a way that’s easy to find, so the list below details a few of the more common and also the lesser-known credits that may apply to you.

• Accident Waiver – Not necessarily a discount, but some companies like Liberty Mutual, Allstate and State Farm will turn a blind eye to one accident before your rates go up so long as you are claim-free for a specific time period.
• Defensive Driver Discount – Completing a course in defensive driving could possibly earn you a 5% discount if your company offers it.
• E-sign – A few companies will give you a small discount shop Chicago auto insurance on the web.
• Low Mileage Discounts – Low annual miles could earn slightly better premium rates than normal.
• Multiple Policy Discount – If you combine your auto and home policies with the same insurance company you will save approximately 10% to 15%.
• Theft Prevention Discount – Anti-theft and alarm system equipped vehicles are stolen with less frequency and can earn a small discount on your policy.
• Good Drivers – Drivers who don’t get into accidents can save as much as half off their rates than drivers with accidents.
• Discount for Passive Restraints – Vehicles with factory air bags or automatic seat belts may earn rate discounts of 25 to 30%.
• Use Seat Belts – Drivers who require all occupants to wear their seat belts can save up to 15% on the medical payments or PIP coverage costs.

One thing to note about discounts is that most of the big mark downs will not be given to the overall cost of the policy. Most cut specific coverage prices like liability, collision or medical payments. So even though it sounds like having all the discounts means you get insurance for free, it doesn’t quite work that way.

For a list of insurance companies that offer many of these discounts in Illinois, click this link.

Insurance is available from your local insurance agencies

Some people would prefer to sit down with an agent and that can be a great decision Good agents can help determine the best coverages and help in the event of a claim. One of the benefits of comparing rates online is that you can obtain cheaper car insurance rates and still have an agent to talk to. Buying from and supporting local insurance agents is definitely important in Chicago.

By using this quick form, the quote information is sent to agents in your area who will give you quotes and help you find cheaper coverage. You won’t need to drive around since price quotes are sent immediately to your email address. If you wish to get a price quote for a specific company, feel free to jump over to their website to submit a rate quote request.

If you want to buy insurance from a local insurance agency, you should know the different agency structures and how they are slightly different. Insurance policy providers are classified as either independent agents or exclusive agents. Either one can write policy coverage, but it’s worth mentioning the difference between them since it can affect the type of agent you choose.

Independent Agents (or Brokers)

Independent agents do not have single company limitations and that enables them to quote your coverage amongst many companies and get you the best rates possible. If prices rise, your agent can switch companies and the insured can keep the same agent. If you need cheaper insurance rates, you will want to include independent agents to get the most accurate price comparison.

The following is a small list of independent agents in Chicago who can help you get comparison quotes.

More insurance agents

Exclusive Insurance Agents

Exclusive insurance agents normally can only provide a single company’s rates like State Farm, AAA, Farmers Insurance or Allstate. They are unable to compare rates from other companies so they have to upsell other benefits. Exclusive agents are trained well on their company’s products which helps offset the inability to provide other markets.

Listed below is a short list of exclusive agencies in Chicago who can help you get price quote information.

More insurance agents

Selecting an auto insurance agent should depend on more than just the bottom line cost. The following questions are important to ask.

• Are they able to provide referrals?
• Where would glass claims be handled in Chicago?
• Does the agency provide any after hours assistance?
• Is there any savings for paying the full premium?
• Will one accident increase rates?
• Do they assist clients in filing claims?

After receiving good responses to any questions you may have as well as an affordable premium quote, most likely you have located an auto insurance agent that meets the criteria to service your policy. But remember, you can always terminate your policy for any reason so don’t think you are locked into a specific agent for the full term.

Cheaper auto insurance is out there

Discount Toyota Venza insurance in Chicago can be bought both online as well as from insurance agents, and you should be comparing both to have the best selection. There are still a few companies who may not provide the ability to get quotes online and many times these smaller companies only sell coverage through local independent agents.

You just learned many ideas to reduce Toyota Venza insurance premium rates online in Chicago. It’s most important to understand that the more price quotes you have, the better your chances of lowering your prices. You may even discover the lowest premium rates come from a small local company. Smaller companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate and Progressive.

As you restructure your insurance plan, never reduce needed coverages to save money. In too many instances, drivers have reduced uninsured motorist or liability limits and learned later that it was a big mistake. Your objective should be to get the best coverage possible for the lowest cost and still be able to protect your assets.

Helpful information

• Collision Coverage (Liberty Mutual)
• Who Has Cheap Auto Insurance Quotes for High Risk Drivers in Chicago? (FAQ)
• Who Has the Cheapest Car Insurance Rates for Low Credit Scores in Chicago? (FAQ)
• Rental Reimbursement Coverage (Allstate)
• Can I Drive Legally without Insurance? (Insurance Information Institute)
• State Car Insurance Guides (GEICO)
• Should I Buy a New or Used Car? (Allstate)