Do you want an efficient way to compare more affordable Toyota Prius V insurance in Chicago? Trying to find the cheapest insurance for a Toyota Prius V in Illinois can normally be a lot of work, but you can learn these tips to save time.
There are both good and bad ways to compare car insurance rates and you need to know the proper way to price shop coverage for a Toyota and get the lowest possible price either online or from Chicago insurance agents.
If you are already insured or are just looking to switch companies, you can follow these tips to reduce premiums without reducing coverage. Comparing quotes for the lowest-priced policy in Chicago is actually quite simple. Shoppers just have to learn the proper way to compare rate quotes from many different companies online.
Educated Choices Result in Lower Insurance Rates
Lots of factors are considered when pricing auto insurance. Most are fairly basic such as traffic violations, but others are less apparent like your vehicle usage or how safe your car is. Smart consumers have a good feel for some of the factors that are used to determine your policy premiums. If you have a feel for what determines base rates, this helps enable you to make changes that could result in cheaper rates.
Your employer may affect rates – Occupations such as doctors, business owners and stock brokers have higher average rates because of job stress and incredibly demanding work hours. On the flip side, careers such as scientists, historians and the unemployed have lower than average premiums.
How do annual miles impact costs? – Driving more miles each year the more you will pay for car insurance. Most insurance companies apply a rate based upon how you use the vehicle. Cars and trucks used primarily for pleasure use cost less to insure than those used for commuting. An improperly rated Prius V may be costing you higher rates. Double check that your car insurance policy is rated on how each vehicle is driven, because it can save money.
Being married reduces risk – Walking down the aisle can get you a discount compared to being single. Having a spouse means you’re less irresponsible and statistics prove married drivers tend to have fewer serious accidents.
Your liability limits – Your policy’s liability coverage will protect you in the event that you are responsible for damages from an accident. Your policy’s liability insurance provides you with a defense in court to attempt to prove you were not liable. Liability is cheap compared to physical damage coverage, so do not cut corners here.
Toyota Prius V claim statistics – Insurers factor in insurance loss information as a way to help calculate a profitable premium price. Models that have a higher amount or frequency of claims will have higher rates. The data below shows the actual insurance loss data for Toyota Prius V vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles, regardless of make or model, equals 100. Values that are 100 or less imply a favorable loss record, while numbers shown that are more than 100 indicate more frequent losses or tendency to have higher losses.
Auto Insurance Loss Data for Toyota Prius V Models
| Specific Toyota Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Prius V Hybrid | 94 | 86 | 88 | 88 | 94 | 97 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Cheap Chicago Toyota Prius V insurance rate quotes online
Finding low cost Chicago auto insurance rates can be quick and easy. All you need to do is invest a few minutes getting comparison quotes online with multiple companies.
The companies in the list below provide price comparisons in Chicago, IL. If multiple companies are listed, we suggest you visit two to three different companies in order to get a fair rate comparison.
Why you need to buy insurance
Despite the potentially high cost of Toyota Prius V insurance, buying insurance serves an important purpose.
First, just about all states have minimum mandated liability insurance limits which means the state requires specific limits of liability insurance in order to drive the car. 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 Prius V has a lien holder, most banks will make it mandatory that you have physical damage coverage to guarantee payment of the loan. If the policy lapses, the bank or lender will purchase a policy for your Toyota at a more expensive rate and make you pay much more than you were paying before.
Third, insurance protects your car and your assets. It also can pay for many types of medical costs for yourself as well as anyone injured by you. Liability coverage also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance greatly outweigh the cost, especially if you ever need it. The average driver in America is overpaying over $810 a year so you should quote and compare rates at least once a year to help ensure money is not being wasted.
Get cheaper Toyota Prius V insurance rates in Chicago
Insurance is not cheap nor is it fun to buy but you might be missing out on some discounts to help offset the cost. Some trigger automatically at the time of purchase, but a few must be inquired about before you will receive the discount.
- Employee of Federal Government – Federal government employees may reduce rates when you quote Chicago auto insurance with certain companies.
- Good Grades Discount – Getting good grades could provide a savings of up to 20% or more. You can use this discount normally well after school through age 25.
- Renewal Discounts – A few larger companies offer discounts for renewing your policy prior to your current Prius V insurance policy expiring. You could save around 10% when you buy Chicago auto insurance online.
- Passenger Safety Discount – Vehicles with factory air bags or motorized seat belts could see savings of up to 25% or more.
- Life Insurance – Insurance carriers who offer life insurance give a discount if you purchase a life insurance policy as well.
- No Claim Discounts – Chicago drivers who stay claim-free get the best insurance rates when compared to policyholders that have many claims.
- Chicago Homeowners Discount – Just being a homeowner can save a few bucks because of the fact that having a home is proof of financial responsibility.
You should keep in mind that most of the big mark downs will not be given to the overall cost of the policy. Most cut the cost of specific coverages such as physical damage coverage or medical payments. If you do the math and it seems like adding up those discounts means a free policy, companies don’t profit that way. Any qualifying discounts will definitely reduce your overall premium however.
A few popular companies and their possible discounts are shown below.
- State Farm has discounts for Drive Safe & Save, multiple autos, safe vehicle, driver’s education, defensive driving training, good student, and accident-free.
- GEICO may have discounts that include anti-lock brakes, military active duty, daytime running lights, multi-policy, driver training, good student, and air bags.
- Liberty Mutual discounts include teen driver discount, hybrid vehicle, new move discount, new graduate, safety features, and preferred payment discount.
- The Hartford offers discounts for driver training, anti-theft, air bag, vehicle fuel type, bundle, good student, and defensive driver.
- MetLife offers premium reductions for good driver, defensive driver, accident-free, multi-policy, claim-free, and good student.
- Progressive may offer discounts for multi-policy, multi-vehicle, continuous coverage, homeowner, online quote discount, and online signing.
If you are trying to find affordable Toyota Prius V insurance quotes, ask each insurance company how many discounts you can get. Depending on the company, some discounts might not be offered in your area. If you would like to see a list of insurers that offer multiple discounts in Illinois, click here to view.
Insurance agencies can help
A lot of people would rather visit with an insurance agent and doing so can bring peace of mind Agents are very good at helping people manage risk and help in the event of a claim. A nice benefit of getting online price quotes is that drivers can save money and get lower prices and still have a local agent. Buying from neighborhood insurance agencies is definitely important in Chicago.
To make it easy to find an agent, after completing this quick form, your insurance coverage information is emailed to insurance agents in Chicago who will give you quotes and help you find cheaper coverage. You don’t have to drive around as quotes are delivered immediately to you. If for some reason you want to get a comparison quote from a specific company, just visit that company’s website and submit a quote form there.
If you are wanting to purchase insurance from a local agent, it’s important to understand the types of agencies that you can choose from. Insurance policy providers can either be exclusive or independent. Both can handle insurance, but it’s worth mentioning the difference in the companies they write for because it can influence your selection of an agent.
Independent Agents (or Brokers)
These type of agents are not limited to a single company so they can write business with many different companies and possibly get better coverage at lower prices. If they quote lower rates, they simply move the coverage in-house and you can keep the same agent.
When shopping rates, we recommend you compare quotes from independent agents to get the most accurate price comparison. They often place coverage with less well-known companies which may provide better rates.
Shown below is a short list of independent insurance agencies in Chicago that may be able to give you free insurance rate quotes.
- Illinois Vehicle Auto Insurance
100 W. Randolph, Suite C14 – Chicago, IL 60601 – (312) 201-9111 – View Map - Talro Insurance Agency
4900 W Belmont Ave – Chicago, IL 60641 – (773) 205-8255 – View Map - Amigo Insurance Agency
5902 W Fullerton Ave – Chicago, IL 60639 – (877) 999-2644 – View Map
Exclusive Insurance Agencies
Agents of this type have only one company to place business with such as Farmers Insurance, State Farm, or Allstate. They usually cannot compare rates from other companies so keep that in mind. They are usually quite knowledgeable on sales techniques which helps offset the inability to provide other markets. Drivers often use the same exclusive agent partially due to high brand loyalty and solid financial strength.
Below is a short list of exclusive agents in Chicago willing to provide price quotes.
- Russ Spinelli – State Farm Insurance Agent
1525 E 53rd St #727 – Chicago, IL 60615 – (773) 955-3133 – View Map - Mark Yun – State Farm Insurance Agent
223 W Cermak Rd, Fl-2 – Chicago, IL 60616 – (312) 225-8311 – View Map - Greg King – State Farm Insurance Agent
5508 S Lake Park Ave – Chicago, IL 60637 – (773) 643-6200 – View Map
Picking the best insurance agent needs to be determined by more than just the quoted price. These are some questions your agent should answer.
- How is replacement cost determined on your vehicle?
- Do they assist clients in filing claims?
- Does their agency support local causes in Chicago?
- Are claim adjusters local or do you have to take your car somewhere else?
- Do you need full coverage on every vehicle?
- What kind of financial rating does the company have?
- What is the agency’s Better Business Bureau rating?
Which policy gives me the best coverage?
When it comes to buying adequate coverage for your vehicles, there really isn’t a “best” method to buy coverage. Coverage needs to be tailored to your specific needs.
For instance, these questions may help you determine if your insurance needs might need professional guidance.
- Which is better, split liability limits or combined limits?
- How can I force my company to pay a claim?
- Am I covered when driving a rental car?
- What is roadside assistance coverage?
- What is the ISO rating for a Toyota Prius V?
- When do I need to add a new car to my policy?
- Are my friends covered when driving my Toyota Prius V?
- What are the financial responsibility laws in my state?
- Who does medical payments coverage extend to?
If it’s difficult to answer those questions but one or more may apply to you, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form. It is quick, free and may give you better protection.
Quote often and quote early
You just read many ideas to save on Toyota Prius V insurance in Chicago. The key thing to remember is the more quotes you get, the better your comparison will be. You may even find the lowest priced insurance comes from a smaller regional carrier.
Low-cost Toyota Prius V insurance in Chicago is possible online and with local Chicago insurance agents, and you need to comparison shop both in order to have the best price selection to choose from. Some insurance providers may not have online quoting and usually these regional insurance providers work with local independent agents.
As you quote Chicago auto insurance, you should never reduce coverage to reduce premium. There are a lot of situations where an insured dropped uninsured motorist or liability limits only to find out they didn’t have enough coverage. Your objective should be to buy enough coverage at the best possible price, not the least amount of coverage.
Additional insurance information is available at these links:
- Auto Insurance Learning Center (State Farm)
- A Tree Fell on Your Car: Now What? (Allstate)
- Determing Auto Insurance Rates (GEICO)