Has it been over a year since you last compared quotes for cheaper Mazda CX-5 insurance in Chicago? Pricey insurance in Chicago can deplete your checking account and force you to prioritize other expenses.
Statistics show that the vast majority of drivers have stayed with the same insurance company for over three years, and roughly 40% of drivers have never quoted insurance rates at all. Many consumers in Illinois can save nearly $586 each year just by shopping around, but they just don't want to find cheap insurance by shopping around.
Numerous insurance companies battle to insure your vehicles, so it can be very hard to choose a company to find the absolute lowest cost out there.
If you have insurance now, you should be able to lower your rates using the tips covered below. Choosing the best rates in Chicago can be easy if you know a few tricks. But Illinois car owners do need to understand how the larger insurance companies market on the web and take advantage of how the system works.
It's important to know that having more price comparisons increases the chance that you will find the best price.
The providers in the list below are ready to provide comparison quotes in Illinois. If multiple companies are listed, we suggest you visit several of them in order to find the most competitive rates.
Insurance is an important decision
Despite the fact that insurance is not cheap in Chicago, paying for insurance is required for several reasons.
First, just about all states have compulsory liability insurance requirements which means the state requires specific minimum amounts of liability coverage in order to get the vehicle licensed. 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 Mazda CX-5 has a loan, almost all lenders will require you to have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you let the policy lapse, the bank may buy a policy for your Mazda for a lot more money and require you to reimburse them the higher price.
Third, insurance protects not only your vehicle but also your assets. It will also cover many types of medical costs incurred in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, your insurance policy will pay to repair the damage minus the deductible amount.
The benefits of insuring your CX-5 more than cancel out the cost, particularly if you ever have a claim. But the average American driver overpays more than $825 a year so shop around every year to be sure current rates are still competitive.
Big names are not always cheapest
Companies like State Farm, Allstate and GEICO consistently run television and radio advertisements. They all seem to advertise claims that people will save after switching your coverage to them. How does each company have lower policy pricing? It's all in the wording.
Most companies give the cheapest rates for the type of driver that makes them money. For instance, a profitable customer may be a mature driver, has never had a claim, and the vehicle is rated for pleasure use. A customer getting a price quote who fits those characteristics receives the best auto insurance rates in Chicago and therefore will save a lot on Chicago Mazda CX-5 insurance if they switch.
Potential customers who cannot meet these criteria may receive higher prices which leads to the driver buying from a lower-cost company. The ads state "people that switch" but not "everyone who gets a quote" can save as much as they claim. This is how insurance companies can make it sound like they have such great premium rates. This really illustrates why drivers must quote coverage with many companies. It's just too difficult to predict which insurance companies will provide the lowest Mazda CX-5 insurance in Chicago.
These discounts can lower your car insurance quotes
Some companies don't always list every discount available in an easy-to-find place, so the next list breaks down both well-publicized and also the more inconspicuous credits available to bring down your rates.
- Save with a New Car - Adding a new car to your policy can save up to 30% since newer vehicles are generally safer.
- Drive Less and Save - Maintaining low annual mileage could earn slightly better prices than normal.
- Telematics Data - Chicago drivers who agree to allow their car insurance company to study where and when they drive by using a telematic data system such as Progressive's Snapshot could see a rate decrease if their driving habits are good.
- Anti-lock Brakes - Cars, trucks, and SUVs with ABS braking systems or traction control are safer to drive and the ABS can save up to 10%.
- Paperwork-free - A handful of larger companies will give a small break for buying your policy on your computer.
- Home Ownership Discount - Just owning your own home can earn you a little savings since home ownership demonstrates responsibility.
- Theft Deterrent System - Cars equipped with anti-theft or alarm systems can help prevent theft and will save you 10% or more on CX-5 insurance in Chicago.
- Organization Discounts - Being a member of qualifying employment or professional organizations may earn a discount when getting a Chicago auto insurance quote.
- Seat Belt Discounts - Drivers who require all vehicle occupants to buckle up before driving can save up to 15% on medical payment and PIP coverage.
- Senior Citizens - Drivers over the age of 55 may receive lower premium rates.
Consumers should know that some credits don't apply to the entire policy premium. Most cut specific coverage prices like medical payments or collision. Even though it appears all those discounts means the company will pay you, it doesn't quite work that way.
A list of car insurance companies and some of the discounts are detailed below.
- State Farm may include discounts for good student, passive restraint, good driver, driver's education, and anti-theft.
- GEICO offers discounts including military active duty, air bags, driver training, membership and employees, and defensive driver.
- Allstate policyholders can earn discounts including eSmart discount, safe driver, auto/life discount, good payer, and passive restraint.
- SAFECO may have discounts that include safe driver, bundle discounts, teen safety rewards, homeowner, and multi-car.
- Farm Bureau includes discounts for safe driver, multi-vehicle, driver training, multi-policy, 55 and retired, renewal discount, and good student.
- Progressive offers premium reductions for online quote discount, continuous coverage, multi-policy, good student, and multi-vehicle.
- AAA has savings for multi-policy, AAA membership discount, multi-car, education and occupation, and anti-theft.
Before buying, ask all companies you are considering which credits you are entitled to. Savings might not be offered on policies everywhere. To see a list of car insurance companies with the best Mazda CX-5 insurance discounts in Illinois, click this link.
Shop online but buy locally
Many people still prefer to get advice from a local agent and that is not a bad decision The biggest benefit of getting free rate quotes online is that drivers can save money and get lower rates and still have an agent to talk to.
To make it easy to find an agent, after completing this form (opens in new window), your coverage information is transmitted to local insurance agents who can give free rate quotes for your business. It's much easier because you don't need to visit any agencies as quotes are delivered to you. You can find better rates and an insurance agent to talk to. If you need to compare rates from one company in particular, don't hesitate to go to their quote page and fill out their quote form.
Finding the right insurance company should depend on more than just a cheap price. Here are some questions you might want to ask.
- How would your car be valued if totalled?
- Will their companies depreciate repairs to your car based on the mileage?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Is working in the agency their full-time job?
- Did they already check your driving record and credit reports?
There's no such thing as the perfect insurance policy
When it comes to buying a policy for your vehicles, there is no perfect coverage plan. Every insured's situation is different so this has to be addressed.
For instance, these questions might point out if your insurance needs would benefit from an agent's advice.
- At what point should I drop full coverage?
- What is medical payments coverage?
- Do I need higher collision deductibles?
- Can I get by with minimal medical coverage if I have good health insurance?
- Is my state a no-fault state?
- Should I bundle my homeowners policy with my auto?
- Do all my vehicles need collision coverage?
- If I use my vehicle for business use is it covered?
If you're not sure about those questions but a few of them apply then you might want to talk to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.
More effort can pay off
When buying insurance coverage, it's very important that you do not sacrifice coverage to reduce premiums. There have been many cases where someone dropped uninsured motorist or liability limits to discover at claim time that they should have had better coverage. The aim is to buy enough coverage for the lowest price.
A few companies may not offer online rate quotes and usually these smaller companies provide coverage only through local independent agencies. Cost effective Mazda CX-5 insurance can be bought both online in addition to local insurance agencies, so compare prices from both so you have a total pricing picture.
Much more information about car insurance in Illinois can be read on the following sites:
- Smart Auto Insurance Tips (Insurance Information Institute)
- Who Has Affordable Auto Insurance for Real Estate Agents in Chicago? (FAQ)
- Who Has Affordable Chicago Auto Insurance Rates for a Learners Permit? (FAQ)
- How Much is Chicago Car Insurance for a Honda Accord? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for Government Employees? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Preventing Carjacking and Theft (Insurance Information Institute)