How long have you put off shopping around for low-cost Mazda 5 insurance in Chicago? If shopping for Chicago auto insurance quotes online is new to you, you can be overwhelmed because of the huge number of local and online companies offering insurance in Chicago.
Unfortunately, nearly 70% of drivers renewed their policy with the same company for a minimum of four years, and about 40% of consumers have never compared rate quotes at all. With the average premium in Illinois being $1,500, drivers could save roughly 40% every year just by shopping around, but they don’t know the amount of money they would save if they bought a different policy.
Consumers need to do price comparisons quite often because insurance prices fluctuate regularly. If you had the best quotes on Mazda 5 insurance in Chicago a few years ago you can probably find a better rate now. You’ll find quite a bit of inaccurate information about 5 insurance online but we’re going to give you some good information on how to slash your car insurance rates in Chicago.
Locating the most cost-effective car insurance policy in Chicago is actually quite simple. Basically, each driver who compares rates for car insurance will most likely get better rates. Nevertheless, Illinois consumers need to learn the way insurance companies calculate their prices and use it to find better rates.
How to lower your Mazda 5 insurance cost in Chicago, IL
Most companies like State Farm and Allstate allow consumers to get prices online. Doing online price comparisons for Mazda 5 insurance in Chicago is pretty painless as you just enter your personal and coverage information into the form. After you submit the form the company’s rating system requests your credit score and driving record and generates a price determined by many factors.
Quoting online for Mazda 5 insurance in Chicago simplifies rate comparisons, and it is imperative to perform this step if you want to get the cheapest car insurance rates.
To quickly find out how much you’re overpaying now, visit the companies below or click here to submit a quote request to multiple companies at once. If you have your current policy handy, we recommend you duplicate the coverages identical to your current policy. This way, you will get a fair comparison for exact coverage.
The providers in the list below are ready to provide free quotes in Illinois. If several companies are displayed, we suggest you click on several of them to get the lowest price.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 5 Sport Station Wagon | $168 | $326 | $250 | $14 | $76 | $834 | $70 |
| 5 Touring Station Wagon | $174 | $350 | $250 | $14 | $76 | $864 | $72 |
| 5 Grand Touring Station Wagon | $164 | $274 | $222 | $14 | $66 | $740 | $62 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Premium costs do not factor in the specific area where the vehicle is garaged which can revise price quotes considerably.
Deductible comparison
The chart below highlights how deductible choice and can impact Mazda 5 insurance costs for each age group. The premiums assume a single male driver, full coverage, and no discounts are factored in.
Cheaper Chicago auto insurance quotes with discounts
Not many people think insurance is cheap, but there’s a good chance there are discounts that can dramatically reduce your bill. Many of these discounts will be applied automatically when you get a quote, but some discounts are required to be inquired about before they will apply.
- Accident-Free Discounts – Drivers with accident-free driving histories get the best auto insurance rates as compared to drivers who are more careless.
- Home Ownership Discount – Just being a homeowner can get you a discount because owning a home shows financial diligence.
- New Car Discount – Adding a new car to your policy can save up to 30% because newer vehicles are generally safer.
- Waiver for an Accident – Not necessarily a discount, but companies like Liberty Mutual and GEICO will forgive one accident before they charge you more for coverage so long as you haven’t had any claims prior to the accident.
- Good Student Discount – This discount can earn a discount of 20% or more. Earning this discount can benefit you up to age 25.
As a sidenote, most discount credits are not given to all coverage premiums. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears you can get free auto insurance, it’s just not the way it works.
Some companies that may offer policyholders these discounts are:
When quoting, ask every prospective company which credits you are entitled to. Some of the discounts discussed earlier might not apply in your area. To locate insurers that can offer you the previously mentioned discounts in Illinois, follow this link.
How You Can Control Mazda 5 Insurance Premiums
Lots of things are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious like your driving record, although some other factors are more transparent such as whether you are married or your commute time. One of the most helpful ways to save on car insurance is to to have a grasp of a few of the rating criteria that are used to determine the rates you pay for car insurance. If you have some idea of what influences your rates, this enables you to make decisions that can help you get better car insurance rates.
The following are just a few of the factors that factor into your prices.
Avoid unnecessary add-on coverages – There are a lot of extra coverages you can purchase if you aren’t diligent. Add-on coverages like rental car reimbursement, towing coverage, and membership fees are probably not needed. The coverages may be enticing when talking to your agent, but if you have no use for them consider taking them off your policy.
Males pay more for auto insurance – Over time, data shows that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are worse drivers. Males and females are in fender benders in similar numbers, but males tend to have more serious accidents. They also get ticketed for serious violations like DWI (DUI) or reckless driving. Young men ages 16 to 20 are the most expensive to insure and thus pay the highest rates.
Low physical damage deductibles cost more – The deductibles are the amount of money you are willing to pay out-of-pocket before your car insurance pays a claim. Coverage for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your car. Some instances where coverage would apply would be rearending another vehicle, animal collisions, and damage caused by road hazards. The more money the insured is willing to pay, the less your car insurance will be.
Cut prices and deter theft – Selecting a car model that has an advanced theft prevention system can get you a discount on your car insurance. Advanced theft deterrents such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent auto theft and help lower rates.
Having a spouse is a bonus – Getting married can actually save you money on your policy. Having a spouse means you’re more mature and responsible and statistics show drivers who are married file infrequent claims.
More stress means more cost – Careers like fire fighters, airline pilots, and accountants have higher premium rates in part from intense work requirements and lots of time spent away from family. On the flip side, careers such as professors, students and performers get better rates.
Miles impacts premiums – The higher the miles on your Mazda in a year the higher your rate. Many insurance companies charge rates based upon how you use the vehicle. Autos that do not get driven very much can get a lower rate compared to those used for work or business. Make sure your policy shows the proper vehicle usage. A policy that improperly rates your 5 may be costing you higher rates.
Mazda 5 historical loss data – Companies use past insurance losses in order to profitably underwrite each model. Vehicles that have high amounts or severity of claims will have a higher cost to insure. The next table shows the historical loss data for Mazda 5 vehicles.
For each policy coverage type, the claim probability for all vehicles averaged together is represented as 100. Percentage values below 100 suggest losses that are better than average, while numbers shown that are more than 100 indicate a higher chance of having a claim or tendency to have larger claims.
Insurance Loss Ratings for Mazda 5 Vehicles
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Mazda 5 | 86 | 86 | 73 | 103 | 95 | 91 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Do I need an insurance agency?
A small number of people just prefer to sit down and talk to an agent and that is not a bad decision A good thing about getting online price quotes is the fact that drivers can get better rates and also buy local.
After filling out this short form, your insurance coverage information is transmitted to insurance agents in Chicago who will gladly provide quotes for your coverage. It makes it easy because there is no need to do any legwork since rate quotes are delivered straight to your inbox. It’s the lowest rates and an insurance agent to talk to. If you need to quote rates from a specific insurance provider, you would need to jump over to their website and submit a quote form there.
Selecting an provider should include more criteria than just the quoted price. These are some questions your agent should answer.
- What are the financial ratings for the companies they represent?
- Which family members are covered?
- Do they specialize in personal lines auto insurance in Chicago?
- Are claims handled at the agent’s location?
- Will one accident increase rates?
- If your car is in the repair shop, do you have coverage for a rental car?
- Can they give you a list of client referrals?
When researching a local Chicago insurance agent, you need to know there are two different types of agencies and how they operate. Insurance agencies can be categorized as either exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Agents that choose to be exclusive work for only one company like Farmers Insurance or State Farm. Exclusive agents cannot provide other company’s prices so they have to upsell other benefits. Exclusive agents are highly trained on the products they sell which helps offset the inability to provide other markets. Some consumers prefer to buy from the same agent for years mostly because of the brand name rather than having low rates.
Shown below is a list of exclusive agencies in Chicago who may provide you with comparison quotes.
- John Kim – State Farm Insurance Agent
5700 N Lincoln Ave #209 – Chicago, IL 60659 – (773) 561-1700 – View Map - Liane Williams – State Farm Insurance Agent
3143 W 71st St – Chicago, IL 60629 – (773) 436-7500 – View Map - Vivian Valtas – State Farm Insurance Agent
6108 S Archer Ave – Chicago, IL 60638 – (773) 582-3322 – View Map
Independent Insurance Agencies
These type of agents can sell policies from many different companies so as a result can place your coverage with multiple insurance companies and find you the best rates. If your premiums go up, your agent can switch companies which requires no work on your part. When searching for an agent, we highly recommend that you include rate quotes from at least one independent agent in order to compare the most rates. Many independent agencies also insure through different regional companies which could offer lower prices.
Shown below are independent agencies in Chicago who can help you get rate quotes.
- AArdvark Insurance Agency
1228 W Wilson Ave – Chicago, IL 60640 – (773) 961-8781 – View Map - Talro Insurance Agency
4900 W Belmont Ave – Chicago, IL 60641 – (773) 205-8255 – View Map - Lincoln Auto Insurance
855 W Washington Blvd – Chicago, IL 60607 – (312) 666-8800 – View Map
A little work can save a LOT of money
Budget-friendly insurance in Chicago can be purchased from both online companies and also from your neighborhood Chicago agents, so you should be comparing quotes from both in order to have the best chance of saving money. There are still a few companies who do not provide online price quotes and usually these small, regional companies sell through local independent agencies.
Insureds who switch companies do it for any number of reasons including delays in paying claims, not issuing a premium refund, extreme rates for teen drivers or even lack of trust in their agent. Whatever your reason, finding a new insurance company is easier than you think.
As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. In many instances, an insured dropped liability coverage limits only to find out that the savings was not a smart move. The proper strategy is to get the best coverage possible for the lowest price while still protecting your assets.
Additional detailed information is located in these articles:
- Insurance Losses by Make and Model (iihs.org)
- Who Has the Cheapest Car Insurance Quotes for High School Students in Chicago? (FAQ)
- What Auto Insurance is Cheapest After a Speeding Ticket in Chicago? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Nissan Sentra in Chicago? (FAQ)
- Shopping for a Safe Car (Insurance Information Institute)
- Tools for Teen Driving Safety (State Farm)
- What is Gap Insurance? (Insurance Information Institute)