How many times have you put off comparing quotes for more affordable BMW X3 insurance in Chicago? Searching for budget Chicago BMW X3 insurance quotes over the internet might seem overwhelming for people who are beginners to quoting and buying their insurance online. With literally dozens of online companies available, how are people expected to be able to compare every insurance company to find the lowest rates?
Unfortunately, the majority of drivers kept their policy with the same company for at least four years, and roughly 40% of drivers have never quoted insurance rates at all. Most drivers in Chicago could save roughly $586 every year, but they don't know the actual amount they would save if they just switched companies.
Companies offering BMW X3 insurance in Illinois
The companies in the list below are ready to provide price comparisons in Illinois. If more than one company is shown, we recommend you visit several of them in order to get a fair rate comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X3 3.0I xDrive AWD 4-Dr | $156 | $290 | $262 | $16 | $78 | $802 | $67 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Rates do not factor in specific zip code location which can lower or raise premium rates noticeably.
Physical damage deductibles
The information below illustrates how your choice of deductibles and can increase or decrease BMW X3 insurance rates for each age group. The data assumes a married male driver, comp and collision included, and no other discounts are factored in.
Seven factors that impact insurance premiums
Many factors are part of the equation when you get your auto insurance bill. Some are obvious such as your driving record, but others are more transparent such as whether you are married or how safe your car is. Consumers need to have an understanding of some of the things that help calculate your premiums. If you understand what influences your rates, this enables you to make decisions that could result in big savings.
City dwellers may pay more - Living in smaller towns and rural areas of the country has definite advantages when buying insurance. Drivers who live in large cities regularly have congested traffic and much longer commute distances. Fewer drivers translates into fewer accident claims and lower theft and vandalism rates.
Car plus home equals more savings - The majority of insurers will give discounts to clients who carry more than one policy, otherwise known as a multi-policy discount. If you currently are using one company, you still need to compare other Chicago X3 insurance rates to verify if the discount is saving money.
Having a spouse is a bonus - Having a spouse may earn you lower rates when buying insurance. Having a significant other demonstrates that you tend to be more financially stable it has been statistically shown that drivers who are married file infrequent claims.
With age comes responsibility - More experienced drivers are more cautious drivers, tend to cause fewer accidents, and receive fewer citations.Teenage drivers are known to be inattentive and easily distracted in a vehicle and because of this, their insurance rates are much higher.
Save money by having excellent credit - An insured's credit score can be a huge factor in determining premium rates. Insureds with good credit tend to file fewer claims and have better driving records than drivers who have worse credit. So if your credit score is lower than you'd like, you could save money insuring your BMW X3 if you clean up your credit.
High comp and collision deductibles equal low rates - Comp and collision deductibles represent how much money you are required to pay if a covered claim is submitted. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some coverage claims would be colliding with a stationary object, hail damage, and having a roll-over accident. The more expense you choose to pay out-of-pocket, the less your company will charge you for insurance.
Maintain insurance coverage - Driving without insurance coverage in place is a misdemeanor and companies may charge more for letting your insurance lapse for non-payment. Not only will you pay higher rates, not being able to provide proof of insurance may earn you a steep fine or even jail time.
BMW X3 claim probability - Companies include the past claim trends for vehicles as a way to help calculate a profitable premium price. Vehicles that are shown to have high amounts or severity of claims will cost more to insure. The table below shows the loss history for BMW X3 vehicles.
For each policy coverage type, the claim amount for all vehicles averaged together is represented as 100. Values below 100 imply a favorable loss record, while values that are above 100 point to more frequent losses or larger claims.
Auto Insurance Loss Data for BMW X3 Models
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| BMW X3 4dr 2WD | 122 | 99 | ||||
| BMW X3 4dr 4WD | 109 | 93 | 117 | 69 | 64 | 76 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
These discounts can lower your car insurance rates
Some insurance providers do not list all discounts in an easy-to-find place, so the list below contains some of the best known as well as the least known discounts that you can inquire about if you buy Chicago auto insurance online.
- Driver Training Discounts - Taking a course in safe driver could possibly earn you a 5% discount and easily recoup the cost of the course.
- Discount for Home Ownership - Owning your own home or condo can help you save on car insurance because maintaining a house is proof that your finances are in order.
- Multiple Vehicles - Purchasing coverage when you have primary and secondary vehicles on one policy can reduce the rates for all insured vehicles.
- Low Mileage Discounts - Maintaining low annual mileage can qualify you for slightly better car insurance rates than normal.
- Active Military Service - Having a family member in the military can result in better prices.
- Waiver for an Accident - Not a discount per se, but companies like Allstate, Progressive, and GEICO may permit one accident before hitting you with a surcharge so long as you are claim-free before the accident.
- No Claim Discounts - Insureds who avoid accidents and claims are rewarded with significantly better rates on Chicago auto insurance quote in comparison with accident-prone drivers.
One thing to note about discounts is that some credits don't apply to the whole policy. Some only reduce individual premiums such as liability and collision coverage. So when it seems like you could get a free car insurance policy, companies don't profit that way.
A list of car insurance companies and the discounts they provide are included below.
- GEICO has savings for anti-theft, driver training, multi-vehicle, seat belt use, anti-lock brakes, air bags, and good student.
- Travelers policyholders can earn discounts including home ownership, continuous insurance, early quote, good student, hybrid/electric vehicle, and multi-policy.
- Nationwide has discounts for Farm Bureau membership, defensive driving, easy pay, good student, family plan, and anti-theft.
- Farmers Insurance may include discounts for youthful driver, multi-car, switch companies, electronic funds transfer, distant student, and bundle discounts.
- Esurance offers premium reductions for paid-in-full, online quote, multi-car, good driver, online shopper, claim free, and safety device.
- State Farm may have discounts that include Drive Safe & Save, multiple autos, anti-theft, driver's education, accident-free, and student away at school.
- Progressive offers discounts for online signing, multi-policy, online quote discount, good student, homeowner, and continuous coverage.
- Mercury Insurance includes discounts for accident-free, low natural disaster claims, professional/association, anti-theft, annual mileage, multi-car, and ease of repair.
Double check with each company or agent which discounts can lower your rates. Savings might not apply in Chicago.
Compare prices but still have a local Chicago insurance agent
A lot of people just want to have an agent's advice and that is a smart decision A nice benefit of getting free rate quotes online is that drivers can save money and get cheap rate quotes and still buy from a local agent.
Upon completion of this form (opens in new window), the quote information is instantly submitted to insurance agents in Chicago who will return price quotes to get your business. It's much easier because you don't need to leave your house due to the fact that quote results will go immediately to your email address. You can find lower rates and an insurance agent to talk to. If you want to get a price quote from one company in particular, don't hesitate to visit that company's website and fill out their quote form.
Choosing the best insurer requires you to look at more than just the quoted price. Here are some questions to ask:
- How much training do they have in personal risk management?
- Do they have designations such as AIC, CPCU, or CIC?
- Do the companies they represent have a solid financial rating?
- Can they provide you with a list of referrals?
- Will you work with the agent or an assistant?
- What is the agency's Better Business Bureau rating?
If you feel you receive satisfactory answers to all your questions as well as a affordable price, it's a good possibility that you have found an insurer that can be trusted to properly insure your vehicles. Keep in mind policyholders can cancel coverage whenever you want so never assume that you're stuck with a specific agent for any length of time.
Do you really save 40% when you switch?
Big name companies like Progressive, GEICO, Allstate and State Farm regularly use television and radio advertisements. They all seem to advertise claims of big savings if you move your insurance policy to them. But how can every company charge you less for car insurance?
Different companies give the best rates for the type of insured that will most likely be profitable. A good example of a desirable risk might be a married female, has a clean driving record, and has a short commute. Any new insured who fits those characteristics will get the preferred prices in Chicago and have a good chance to save a lot of money.
Drivers who don't measure up to these standards may be required to pay higher prices and this results in business not being written. The ads say "people that switch" not "everyone who quotes" will save that much if they switch. That's why insurance companies can confidently make those claims. Because every company is different, you really should do a price quote comparison at every renewal. It's not possible to predict the company that will have the lowest BMW X3 insurance in Chicago.
Shop smart and save
Drivers who switch companies do it for a number of reasons such as delays in responding to claim requests, poor customer service, policy non-renewal and lack of trust in their agent. Whatever your reason, finding the right car insurance provider is pretty easy and you might even save some money in the process.
Discount BMW X3 insurance in Chicago can be bought online in addition to local insurance agencies, and you should compare rates from both to have the best chance of lowering rates. A few companies do not provide price quotes online and many times these small, regional companies work with local independent agencies.
We just presented some good ideas how to find cheap BMW X3 insurance in Chicago. It's most important to understand that the more providers you compare, the better your chances of lowering your rates. Drivers may even discover the lowest prices are with some of the smallest insurance companies.
To read more, feel free to browse the following helpful articles:
- Safety Features for Your New Car (State Farm)
- Who Has Cheap Auto Insurance for Drivers with Accidents in Chicago? (FAQ)
- What Auto Insurance is Cheapest for Teachers in Chicago? (FAQ)
- What Auto Insurance is Cheapest After a Speeding Ticket in Chicago? (FAQ)
- What Insurance is Cheapest for a Chevrolet Malibu in Chicago? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- Safe Vehicles for Teens (iihs.org)
- Determining Your Vehicle's Value and Repair Cost (Insurance Information Institute)