Best Insurance for a Saab 9-5 in Chicago

Did you fall for a flashy sales pitch and buy an overpriced insurance policy? Trust us when we tell you you’re not the only one.

Astonishng but true according to a recent study, the vast majority of drivers kept their policy with the same company for more than four years, and just short of a majority have never even compared quotes to find cheap rates. With the average premium in America being $1,847, drivers could save 47% a year just by comparing rates, but they don’t know the amount of savings they would get if they switched.

With so many online and local companies to choose from, it’s nearly impossible to locate the most affordable insurance company.

Consumers should take time to do rate comparisons at least once a year because insurance rates are rarely the same from one policy term to another. Despite the fact that you may have had the best rate on Saab 9-5 insurance in Chicago at your last renewal a different company probably has better prices today. Forget anything you know (or think you know) about insurance because you’re about to learn the tricks you need to know to save money, get proper deductibles and limits, all at the lowest rate.

The best way we recommend to compare insurance rates in your area is to know the trick most insurance companies will pay a fee to give you rate quotes. To start a quote, the only thing you need to do is provide information like how much school you completed, the make and model of your vehicles, whether or not you need a SR-22, and whether you are married. Your rating data is instantly submitted to insurance companies and they respond with quotes with very little delay.

To check rates for your Saab 9-5 now, click here and enter your coverage details.

The companies in the list below are our best choices to provide quotes in Illinois. If more than one company is shown, it’s a good idea that you get rate quotes from several of them to get a more complete price comparison.

Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Rates do not factor in garaging location in Chicago which can alter premium rates noticeably.

Difference between full coverage and liability only rates

The example below shows the difference between Saab 9-5 insurance premiums with and without physical damage coverage. The rate quotes are based on no claims, a clean driving record, $1,000 deductibles, married female driver, and no discounts are factored in.

When to drop comp and collision

There is no exact formula for excluding full coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s pretend your Saab 9-5 settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $3,000 after the deductible is paid. If it’s costing in excess of $300 annually for comprehensive and collision coverage, then you might consider buying liability only.

There are some situations where only buying liability is not a good idea. If you haven’t paid off your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not buy liability only.

Where to set your deductibles

When buying auto insurance, a common question is which deductibles should you choose. The data tables below can help you visualize the costs and benefits between high and low comp and collision deductibles. The first pricing table uses a $250 physical damage deductible and the second rate chart uses a $1,000 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, homeowner, safe-driver, and multi-policy. Information does not factor in vehicle garaging location which can affect rates greatly.

We can derive from the above data that using a $250 deductible costs an average of $28 more each month or $336 every year than buying the higher $1,000 deductible. Since the policyholder would be required to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you average at least 27 months between claim filings, you would probably be better off if you choose a higher deductible.

Don’t assume everyone needs the same car insurance coverage

Always keep in mind that when comparing the best car insurance coverage for your personal vehicles, there really is not a one size fits all plan. Your financial needs are unique so your insurance needs to address that.
Here are some questions about coverages that may help highlight if your insurance needs might need professional guidance.

• Is borrowed equipment or tools covered if stolen or damaged?
• Should I pay a claim out-of-pocket?
• Is my teen driver covered when they drive my company car?
• Who does medical payments coverage extend to?
• Should I put collision coverage on all my vehicles?
• Can I afford low physical damage deductibles?
• What are the financial responsibility laws in my state?

If you can’t answer these questions but a few of them apply, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of car insurance companies in your area.

Insurance quotes from local Chicago insurance agencies

Some people just want to buy from a licensed agent and that is a smart decision One of the benefits of getting online price quotes is the fact that drivers can get cheap insurance quotes and still have a local agent. And supporting local agencies is important particularly in Chicago.

Upon completion of this short form, the coverage information gets sent to insurance agents in Chicago who will give you quotes for your insurance coverage. It makes it easy because there is no need to contact an agency because prices are sent instantly to you. You can find lower rates without the usual hassles of price shopping. If you want to get a rate quote from one company in particular, don’t hesitate to find their quoting web page and fill out their quote form.

What type of Chicago car insurance agent is right for you?

If you want to use a reputable insurance agent or broker, it’s important to understand the different types of agencies and how they are distinctly different. Insurance agents in Chicago can either be independent or exclusive.

Independent Agents (or Brokers)

These type of agents can quote rates with many companies and that enables them to quote your coverage amongst many companies and get you the best rates possible. To move your coverage to a new company, they simply move your policy to a different company without you having to go to a different agency.

When comparison shopping, it’s recommended you contact a couple of independent agencies to get the best comparison.

Listed below are independent agencies in Chicago that can possibly get you cheap rate quotes.

More Chicago agents

Exclusive Agents

Agents in the exclusive channel can usually just insure with one company such as Farmers Insurance, State Farm, or Allstate. These agents are not able to provide other company’s prices so if the price isn’t competitive there isn’t much they can do. Exclusive agencies receive a lot of sales training on what they offer which helps them sell on service rather than price.

Shown below are exclusive agents in Chicago that can give you price quote information.

More Chicago agents

Choosing the best insurance agency needs to be determined by more than just a cheap price. Before buying a policy in Chicago, get answers to these questions.

• Who are their largest clients?
• Do they receive special compensation for putting your coverage with one company over another?
• Can they give you a list of client referrals?
• Do they offer accident forgiveness?
• Do they specialize in personal lines coverage in Chicago?
• How long has their agency been in business in Chicago?
• Will they take your side in the event of a claim?

Once you have positive feedback to these questions as well as low cost Saab 9-5 insurance quotes, it’s possible that you found a car insurance agent that can be trusted to provide insurance coverage.