Cheap Rates for Ford Expedition Insurance in Chicago

Want to save money and find the cheapest Ford Expedition insurance in Chicago? I really doubt anyone fancies paying their premiums for car insurance, especially when they know the prices are way too high.

Surprisingly, a recent survey revealed that most car insurance customers have bought car insurance from the same company for at least the last four years, and 38% of customers have never compared quotes from other companies. Most drivers in Illinois could save themselves $590 a year, but they don’t invest the time required to compare rates and save money. Many insurers vie to insure your vehicles, and it can be difficult to compare rates to find the absolute lowest price on Ford Expedition insurance in Chicago.

It’s a good habit to get comparison quotes occasionally because prices change frequently. Even if you got the best rates on Ford Expedition insurance in Chicago six months ago there is a good chance you can find better premium rates now. There are lots of tips to save on Expedition insurance online but by reading this article, you’re going to learn some of the best techniques to find cheap car insurance in Chicago.

Which Ford Expedition insurance is cheapest in Chicago, IL?

The following companies are ready to provide price quotes in Chicago, IL. If several companies are displayed, we suggest you visit two to three different companies to get the best price comparison.

Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price estimates do not factor in specific garaging location which can alter price quotes considerably.

Higher deductibles save money

When buying auto insurance, a common question is where should you set your physical damage deductibles. The following insurance rates summarize the cost difference between low and high policy deductibles. The first set of prices uses a $250 deductible and the second set of prices uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Estimates do not factor in vehicle location which can increase or decrease insurance rates substantially.

Based on this data, using a $250 deductible would cost the average driver about $12 more each month or $144 each year than choosing the higher $500 deductible. Since you would pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you have more than 21 months between claim filings, you would come out ahead if you decide on a higher deductible.

Auto insurance rates by gender and age

The example below shows the comparison of Ford Expedition yearly insurance costs for male and female drivers. The costs are based on no claims or driving violations, full coverage, $500 deductibles, marital status is single, and no discounts are applied.

Cost of full coverage

The illustration below illustrates the difference between Ford Expedition annual premium costs with liability coverage only compared to full coverage. Data assumes no accidents, no driving violations, $500 deductibles, single male driver, and no discounts are taken into consideration.

When to stop paying for full coverage

There is no clear-cut formula to delete physical damage insurance, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let’s say your Ford Expedition replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after the policy deductible has been paid. If you are paying over $400 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where dropping physical damage coverage is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage.

Cheap Ford Expedition insurance rates in Chicago

Insurance is not inexpensive, but you may find discounts that many people don’t even know exist. Certain discounts will be triggered automatically when you purchase, but some need to be asked for before they will apply. If you are not receiving all the discounts possible, you are just wasting money.

• Save over 55 – Drivers over the age of 55 may qualify for reduced rates.
• New Car Discount – Insuring a vehicle that is new can save you some money since newer vehicles have better safety ratings.
• Sign Online – Certain insurance companies will give you a small discount simply for signing digitally online.
• Discounts for Government Workers – Being employed by or retired from a federal job could qualify for a slight premium decrease depending on your insurance provider.
• Telematics Data – Policyholders that allow their company to study their driving habits by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive could possibly reduce rates if they have good driving habits.
• Distant Student – Older children who are enrolled in higher education away from home and don’t have a car may be insured at a cheaper rate.
• Multi-policy Discount – If you insure your home and vehicles and place coverage with the same company they may give you a discount of up to 20% off your total Expedition insurance premium.
• Payment Discounts – If you pay your entire premium ahead of time rather than paying in monthly installments you can actually save on your bill.

You should keep in mind that most of the big mark downs will not be given to the entire cost. Most cut the cost of specific coverages such as medical payments or collision. Despite the fact that it seems like adding up those discounts means a free policy, it doesn’t quite work that way. But any discount will definitely lower the cost of your policy.

Companies and some of the discounts are outlined below.

• GEICO may have discounts that include seat belt use, anti-theft, defensive driver, good student, military active duty, daytime running lights, and air bags.
• Travelers includes discounts for payment discounts, student away at school, continuous insurance, hybrid/electric vehicle, IntelliDrive, and new car.
• Farm Bureau policyholders can earn discounts including safe driver, renewal discount, 55 and retired, driver training, multi-vehicle, and good student.
• Liberty Mutual may include discounts for good student, multi-car, exclusive group savings, hybrid vehicle, preferred payment discount, teen driver discount, and new vehicle discount.
• American Family offers premium reductions for good driver, multi-vehicle, Steer into Savings, good student, air bags, and defensive driver.
• Progressive offers discounts including multi-policy, online quote discount, online signing, good student, homeowner, and continuous coverage.

When comparing rates, check with each company or agent the best way to save money. Discounts may not apply to policyholders in every state. To find providers who offer cheap Ford Expedition insurance quotes in Chicago, click this link.

Seven Tips to Get Cheap Chicago Insurance Prices

Consumers need to have an understanding of some of the factors that aid in calculating your policy premiums. If you understand what influences your rates, this enables informed choices that could help you find much lower annual insurance costs.

Listed below are a few of the “ingredients” used by companies to determine prices.

Continuous car insurance coverage lowers rates – Driving without insurance is a big no-no and you may have a hard time finding new coverage because you let your insurance lapse. In addition to paying higher premiums, the inability to provide proof of insurance may earn you a steep fine or even jail time. You could then be forced to submit proof of financial responsibility or a SR-22 with the Illinois department of motor vehicles.

Extra coverages that may not be needed – There are many additional coverages that you can buy on your Expedition policy. Coverage for things like vanishing deductibles, towing coverage, and extra life insurance coverage could be just wasting money. They may seem like a good idea at first, but your needs may have changed so eliminate them to save money.

Where you call home can modify premiums – Living in a small town can be a good thing when talking about car insurance. Drivers in populated areas have to deal with more traffic problems and a longer drive to work. Less people means less chance of accidents and lower theft and vandalism rates.

Fewer miles means better rates – Driving more miles annually the more you’ll pay to insure it. Most companies calculate prices based upon how you use the vehicle. Autos that have low annual miles can be on a lower rate level than vehicles that are driven to work every day. A policy that improperly rates your Expedition may be wasting your money. It’s always a good idea to double check that your car insurance policy is rated on the correct usage, because improper ratings can cost you money.

Deductibles are a factor – Physical damage coverage, also called ‘full coverage’, is used to repair damage to your Ford. Examples of covered claims are a windshield shattered by a rock, hitting a deer, and windstorm damage. The deductibles you choose state the amount of money you are required to spend if you file a covered claim. The more expense the insured has to pay upfront, the better rate you will receive.

Safer occupants lowers prices – Safe vehicles are cheaper to insure. The safest vehicles have better occupant injury protection and lower injury rates translates into savings for insurance companies which can result in lower premiums.

Driver age impacts rates – Youthful drivers in Illinois have a tendency to be inattentive and easily distracted behind the wheel and because of this, their car insurance rates are much higher. More mature drivers are viewed as being more responsible, cost insurance companies less in claims, and tend to be get fewer driving tickets.

Ford Expedition statistical loss data – Insurance companies use data from past claims when they set coverage costs for each model. Models that the data determines to have a trend towards higher claim severity or frequency will have higher rates for specific coverages. The information below illustrates the collected loss data for Ford Expedition vehicles.

For each insurance policy coverage type, the loss probability for all vehicles combined as an average is set at 100. Numbers shown that are under 100 suggest losses that are better than average, while numbers above 100 indicate higher probability of having a loss or a tendency for losses to be larger than average.

Insurance agents are professional risk managers

A lot of people just want to get advice from a local agent and often times that is recommended Experienced insurance agents can make sure you are properly covered and help in the event of a claim. A nice benefit of comparing insurance prices online is the fact that drivers can get cheap auto insurance quotes and also buy local. And buying from local agents is definitely important in Chicago.

Once you complete this quick form, your coverage information is immediately sent to insurance agents in Chicago who will gladly provide quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to visit any agencies due to the fact that quote results will go directly to you. In the event you want to compare rates for a specific company, you would need to search and find their rate quote page and complete a quote there.

When researching a reputable insurance agent or broker, it’s helpful to know the different types of agencies to choose from. Auto insurance policy providers can either be exclusive or independent. Both can handle auto insurance, but we need to point out why they differ because it can influence your agent selection.

Independent Agents

Agents in the independent channel are not locked into one company so they can quote policies with lots of companies and possibly get better coverage at lower prices. If your agent finds better pricing, the business is moved internally and you don’t have to switch agencies.

If you need lower rates, you should always get some free quotes from at least one independent agent to get the best comparison.

Shown below are Chicago independent insurance agencies that may be able to provide free price quotes.

More Chicago agents

Exclusive Insurance Agents

These agents work for only one company and examples are Farmers Insurance or State Farm. They generally cannot compare rates from other companies so they really need to provide good service. Exclusive agents are very knowledgeable in insurance sales and that allows them to sell at a higher price point.

Shown below are exclusive agents in Chicago willing to provide price quotes.

More Chicago agents

Finding the right car insurance agent is decision based upon more than just the premium amount. Any agent in Chicago should be forthright in answering these questions:

• Are they able to provide referrals?
• How will an accident affect your rates?
• Do they specialize in personal lines auto insurance in Chicago?
• How long has their agency been open in Chicago?
• Do they have any clout with companies to ensure a fair claim settlement?

Do you really save 40% when you switch?

Consumers in Illinois can’t ignore all the ads that promise big savings for switching from the likes of Allstate, GEICO and Progressive. They all seem to try to convey promises about saving some big amount if you move your coverage.

How can each company charge lower premium rates? This is the way they can do it.

Insurance providers give the best rates for the type of driver they prefer to insure. For instance, a desirable insured might be over age 30, has a clean driving record, and drives a vehicle with a low ISO rating. A customer getting a price quote that matches those criteria receives the best car insurance rates in Chicago and is almost guaranteed to save quite a bit of money when switching.

Potential customers who fall short of the “perfect” profile will be quoted higher rates and this results in the customer not buying. The ads state “customers that switch” not “everyone that quotes” save that much. That’s the way insurance companies can make it sound like they have such great prices.

Because every company is different, you absolutely need to do a quote comparison often. You cannot predict which company will have the best premium rates for your profile.

Find cheaper rates by comparing often

While you’re price shopping online, it’s very important that you do not sacrifice coverage to reduce premiums. There are too many instances where an insured dropped uninsured motorist or liability limits only to regret that the small savings ended up costing them much more. Your aim should be to buy enough coverage for the lowest cost but still have enough coverage for asset protection.

We just covered a lot of techniques to get a better price on Ford Expedition insurance in Chicago. The most important thing to understand is the more rate quotes you have, the better chance you’ll have of finding affordable Chicago car insurance quotes. Consumers may even find the best car insurance rates are with some of the lesser-known companies. Regional companies may have significantly lower premium rates on certain market segments compared to the large companies like GEICO and State Farm.

Other resources

• What if I Can’t Find Coverage? (Insurance Information Institute)
• Who Has Affordable Chicago Auto Insurance Rates for a Learners Permit? (FAQ)
• Crash Avoidance Technologies FAQ (iihs.org)
• Insuring a Leased Car (Insurance Information Institute)
• Understanding your Policy (NAIC.org)
• Keeping Children Safe in Crashes Video (iihs.org)