Do you want to learn how to find more competitive Honda Accord Hybrid insurance in Chicago? I really doubt anyone fancies paying their premiums for car insurance, particularly when they could find better rates elsewhere.
A recent survey discovered that nearly 70% of customers kept their policy with the same company for at least four years, and nearly 40% of drivers have never shopped around. Illinois insurance shoppers could pocket roughly $590 a year by just comparing rate quotes, but most undervalue how much money they would save if they just switched companies.
Due to the increasing number of insurance companies to choose from that have affordable insurance for a Honda Accord Hybrid in Chicago, it's nearly impossible to pick the right company.
It's a great practice to take a look at other company's rates every six months since insurance rates are variable and change quite frequently. If you had the lowest premium rates on Honda Accord Hybrid insurance in Chicago on your last policy you will most likely find a better price today. Ignore everything you know about car insurance because you're about to learn the quickest way to lower your rates without sacrificing coverage.
Quoting the lowest cost protection in Chicago is quite easy. In essence, anyone who compares rate quotes for insurance will more than likely buy a cheaper policy. Although Illinois drivers can benefit by having an understanding of how insurance companies calculate their prices because it varies considerably.
All the larger insurance companies like Progressive, Allstate and GEICO make it easy to get coverage price quotes directly from their websites. Getting online quotes for Honda Accord Hybrid insurance in Chicago is fairly simple as all you need to do is type in your personal and coverage information as requested by the quote form. Once you submit the form, the company's rating system obtains credit information and your driving record and gives you a price quote based on many factors. This makes it simple to compare prices and it is important to perform this step if you want to get a better rate.
To compare rates now, take a look at the companies shown below. If you currently have coverage, we recommend you replicate the coverage information as shown on your current policy. This way, you will get a fair comparison using the exact same coverages.
The following companies are our best choices to provide comparison quotes in Illinois. If multiple companies are shown, it's a good idea that you visit several of them in order to get a fair rate comparison.
Car insurance discounts help lower rates for Honda Accord Hybrid insurance in Chicago
Some companies don't always advertise every possible discount in a way that's easy to find, so the list below details some of the more common and the harder-to-find credits available to bring down your rates.
- Low Mileage Discounts - Maintaining low annual mileage can earn better rates on cars that stay parked.
- Multiple Policy Discount - If you have multiple policies and insure them both with the same insurance company you will save at least 10 to 15 percent or more.
- Anti-theft System - Cars that have factory anti-theft systems can help prevent theft and that can save you a little bit as well.
- Lower Rates for Military - Being deployed in the military could mean lower car insurance rates.
- Discounts for Federal Employees - Being employed by or retired from a federal job can save as much as 8% with a few car insurance companies.
- Senior Citizen Rates - Drivers over the age of 55 may receive a slight reduction on a Chicago car insurance quote.
- Save with a New Car - Adding a new car to your policy can save you some money since newer vehicles are generally safer.
Discounts lower rates, but some credits don't apply to the entire policy premium. Some only apply to individual premiums such as medical payments or collision. So even though they make it sound like you can get free auto insurance, it doesn't quite work that way.
Large car insurance companies and a summarized list of policyholder discounts can be found below.
- GEICO has discounts for anti-theft, seat belt use, multi-vehicle, military active duty, and federal employee.
- MetLife may include discounts for good driver, claim-free, multi-policy, accident-free, and defensive driver.
- State Farm has savings for passive restraint, Steer Clear safe driver discount, accident-free, safe vehicle, and multiple autos.
- Progressive may have discounts that include good student, multi-vehicle, homeowner, multi-policy, continuous coverage, online quote discount, and online signing.
- Mercury Insurance policyholders can earn discounts including multi-policy, location of vehicle, type of vehicle, multi-car, and good student.
- 21st Century discounts include theft prevention, good student, teen driver, defensive driver, 55 and older, student driver, and automatic seat belts.
- Allstate may offer discounts for auto/life discount, economy car, good student, passive restraint, anti-lock brakes, and safe driver.
When getting a coverage quote, ask every company what discounts are available to you. Depending on the company, some discounts might not be available to policyholders in your state.
Local insurance agents
Some consumers prefer to get professional advice from a licensed agent and that is recommended in a lot of cases The best thing about getting online price quotes is the fact that drivers can get cheap car insurance quotes but also keep your business local. Buying insurance from neighborhood insurance agencies is important particularly in Chicago.
By using this short form, your information is emailed to local insurance agents who can give free rate quotes for your coverage. It's much easier because you don't need to leave your house due to the fact that quote results will go directly to your email. You'll get the best rates AND a local agent. If you want to compare prices from a particular provider, you would need to visit that company's website and complete a quote there.
When looking for a local Chicago insurance agency, there are a couple of types of agencies that you can choose from. Car insurance agents in Chicago can be categorized as either independent agents or exclusive agents depending on their employer.
Independent Car Insurance Agents (or Brokers)
Independent agencies are not locked into one company so they can write business through lots of different companies and find you cheaper rates. If premiums increase, they simply move the coverage in-house and you stay with the same agent. If you are comparing car insurance prices, you definitely need to get insurance quotes from at least one independent agent to have the most options to choose from.
Featured below are independent agents in Chicago who may provide price quotes.
Eagle Insurance Agency
3517 N Spaulding Ave - Chicago, IL 60618 - (773) 463-7576 - View Map
Northwest Insurance Network
330 S Wells St #1600 - Chicago, IL 60606 - (312) 427-1777 - View Map
Great Northern Insurance Agency
5632 S Pulaski Rd - Chicago, IL 60629 - (773) 838-3900 - View Map
Exclusive Insurance Agencies
Exclusive insurance agents have only one company to place business with and some examples include AAA, Allstate, State Farm, or Farmers Insurance. They generally cannot give you multiple price quotes so keep that in mind. Exclusive agents are trained well in insurance sales and that allows them to sell at a higher price point.
Below are Chicago exclusive agencies that are able to give price quote information.
Greg King - State Farm Insurance Agent
5508 S Lake Park Ave - Chicago, IL 60637 - (773) 643-6200 - View Map
Vivian Valtas - State Farm Insurance Agent
6108 S Archer Ave - Chicago, IL 60638 - (773) 582-3322 - View Map
Bill Dillard - State Farm Insurance Agent
516 W Diversey Pkwy - Chicago, IL 60614 - (773) 549-2605 - View Map
Picking an auto insurance agent should include more criteria than just the bottom line cost. Agents should be asked these questions:
- Is the agent CPCU or CIC certified?
- How much can you save by raising your physical damage deductibles?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Is coverage determined by price?
- When do they do a full risk review?
- Does the agent recommend any additional coverage?
How do Insurers Determine Honda Accord Hybrid Insurance Prices?
The best way to find cheaper insurance is to take a look at some of the things that go into determining your insurance rates. When you understand what influences your rates, this helps enable you to make changes that can help you get lower rates. Many things are part of the calculation when premium rates are determined. Some are obvious like a motor vehicle report, although others are not quite as obvious like your continuous coverage or your financial responsibility.
The following are some of the major factors insurance companies consider when setting your rate level.
The higher your credit score the lower your prices - A driver's credit rating will be a significant factor in calculating your premium rate. If your credit score can be improved, you could potentially save money when insuring your Honda Accord Hybrid by improving your credit score. Insureds that have excellent credit tend to be more responsible than drivers with lower credit ratings.
Where do you drive? - Driving more miles each year the higher the price you pay to insure it. Most insurance companies charge rates based upon how the vehicle is primarily used. Autos not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Having the wrong rating on your Accord Hybrid may be costing you. Make sure your insurance policy reflects annual mileage, because it can save money.
The type of vehicle you drive affects your prices - The performance level of the car, truck or SUV you need to insure makes a significant difference in how high your rates are. The lowest rates are generally reserved for smaller low performance passenger models, but there are many factors that impact the final cost. Due to the fact that the Honda Accord Hybrid is a passenger car, rates will be similar in price or lower as compared to the average rate in Chicago.
Deter theft and pay less - Choosing a vehicle that has an advanced theft prevention system can save you some money. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping vehicle theft.
Honda Accord Hybrid insurance loss data - Companies analyze claim trends for every vehicle to help determine rates. Models that the statistics show to have high amounts or severity of claims will cost more for specific coverages.
The table below outlines the actual insurance loss data for Honda Accord Hybrid vehicles. For each policy coverage, the loss probability for all vehicles compiled together is equal to 100. Numbers shown that are under 100 indicate better than average losses, while numbers shown that are more than 100 point to more frequent losses or a tendency for losses to be larger than average.
Honda Accord Hybrid Insurance Claim Statistics
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Honda Accord Hybrid | 96 | 80 | 98 | 89 | 76 | 84 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three main reasons to buy auto insurance
Despite the high cost of buying insurance for a Honda Accord Hybrid in Chicago, maintaining insurance may not be optional for several reasons.
First, the majority of states have compulsory liability insurance requirements which means you are required to carry specific limits of liability coverage 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 Accord Hybrid has a lien holder, most lenders will require that you carry insurance to guarantee loan repayment. If you do not keep the policy in force, the bank will be required to insure your Honda for a lot more money and force you to pay the higher price.
Third, insurance protects not only your car but also your financial assets. It will also provide coverage for all forms of medical expenses that are the result of an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will cover the damage repairs after a deductible is paid.
The benefits of insuring your car outweigh the cost, especially when you need to use it. The average driver in America overpays as much as $850 per year so smart consumers compare quotes once a year at a minimum to save money.
Quote more to save more
When buying insurance coverage, you should never buy less coverage just to save a little money. In many instances, an accident victim reduced full coverage only to regret at claim time that it was a big error on their part. Your objective should be to find the BEST coverage at the lowest possible cost, not the least amount of coverage.
Affordable Honda Accord Hybrid insurance in Chicago can be purchased both online and from local agencies, so you need to quote Chicago car insurance with both to have the best rate selection. Some insurance companies may not have the ability to get quotes online and these regional carriers work with independent insurance agents.
More detailed insurance information can be read in these articles:
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Veterans in Chicago? (FAQ)
- What Auto Insurance is Cheapest for Teachers in Chicago? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Drivers with Bad Credit in Chicago? (FAQ)
- Medical Payments Coverage (Liberty Mutual)
- What is Full Coverage? (Allstate)
- Prepare your Teens for Safe Driving (InsureUonline.org)