Scraping up a payment for overpriced auto insurance can take a big chunk out of your savings account and make it impossible to make ends meet. Comparison shopping is free and is an excellent way to tighten up your finances.
Drivers have multiple insurance companies to pick from, and though it is a good thing to have multiple companies, having more insurance companies makes it harder to compare rates.
Smart consumers take time to do rate comparisons occasionally due to the fact that insurance rates go up and down regularly. Even if you got the best rates two years ago you will most likely find a better rate today. So just forget all the misinformation about auto insurance because it’s time to teach you the things you must know in order to save money, get proper coverage and the best rates.
More discounts equal less premium
Car insurance is not cheap, but discounts can save money and there are some available to help offset the cost. Most are applied at quote time, but a few must be inquired about before you get the savings.
- One Accident Forgiven – Certain companies allow you one accident before raising your premiums if your claims history is clear for a certain period of time.
- Federal Government Employee – Simply working for the federal government may qualify you for a discount with certain companies.
- Good Students Pay Less – A discount for being a good student can get you a discount of up to 25%. The good student discount can last until age 25.
- Multi-car Discount – Having more than one vehicle on one policy could earn a price break for each car.
- Accident Free – Good drivers with no accidents can earn big discounts when compared to accident-prone drivers.
- Discounts for Safe Drivers – Drivers who avoid accidents may save up to 50% more than drivers with accidents.
- Homeowners Savings – Owning a home in Joliet may earn you a small savings because maintaining a house shows financial diligence.
- Student Driver Training – Have your child enroll in driver’s education in school.
- Anti-theft System – Anti-theft and alarm systems are stolen less frequently and earn discounts up to 10%.
Drivers should understand that some credits don’t apply the the whole policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates you can get free auto insurance, companies don’t profit that way. Any qualifying discounts will reduce your premiums.
To choose companies offering auto insurance discounts in Joliet, follow this link.
Joliet Auto Insurance Quote Comparison
Performing a rate comparison can be a lot of work if you don’t understand the easiest way. You could waste a few hours driving to insurance companies in Joliet, or you could save time and use online quotes to get the quickest rates.
All the larger companies participate in an industry program where prospective buyers complete one form, and each participating company can give them a price based on that data. This system prevents you from having to do quote forms to each individual auto insurance company.
To find out how much you can save on auto insurance click here (opens in new window).
The one downside to doing it this way is buyers cannot specifically choose which providers to get quotes from. If you wish to select individual companies to compare rates, we have a page of the cheapest auto insurance companies in Illinois. Click here for list of insurance companies in Illinois.
It’s your choice how you get your quotes, but ensure you’re using the exact same coverages and limits with every price quote. If the quotes have differing limits it will be very difficult to make an equal comparison in Joliet. Quoting even small variations in coverage limits may result in a large different in cost. Just remember that obtaining a wide range of quotes will increase your chances of finding the best offered rates.
It’s not one size fits all
When choosing coverage, there really is no one size fits all plan. Every insured’s situation is different so your insurance should reflect that Here are some questions about coverages that may help you determine whether your personal situation would benefit from an agent’s advice.
- Is business property covered if stolen from my car?
- Can my teen driver be rated on a liability-only vehicle?
- Are my friends covered when driving my vehicle?
- What if I don’t agree with a claim settlement offer?
- Why is insurance for a teen driver so high in Joliet?
- Are split liability limits better than a combined single limit?
- What is the difference between comprehensive and collision coverage?
- Do I need special endorsements for business use of my vehicle?
- Should I drop comprehensive coverage on older vehicles?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier
Auto insurance coverages
Understanding the coverages of your policy can help you determine the right coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are the normal coverages offered by auto insurance companies.
Comprehensive coverage (or Other than Collision)
This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.
Comprehensive insurance covers claims like fire damage, hail damage and damage from a tornado or hurricane. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Insurance for medical payments
Coverage for medical payments and/or PIP reimburse you for immediate expenses like dental work, surgery and hospital visits. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your vehicle.
Since a lot of drivers have only the minimum liability required by law (20/40/15), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Auto liability
This provides protection from injuries or damage you cause to people or other property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.
Liability coverage protects against claims such as court costs, bail bonds and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a personal decision, but consider buying as high a limit as you can afford. Illinois state law requires minimum liability limits of 20,000/40,000/15,000 but it’s recommended drivers buy more coverage.
Collision insurance
Collision insurance pays for damage to your vehicle resulting from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision can pay for things such as sustaining damage from a pot hole, crashing into a ditch, hitting a mailbox and colliding with a tree. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to bump up the deductible to bring the cost down.
Do the work, save more money
Affordable auto insurance can be bought online and also from your neighborhood Joliet agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some insurance companies may not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.
You just learned quite a bit of information on how to compare auto insurance prices online. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. Consumers may even find the biggest savings come from the smaller companies. Regional companies may often insure only within specific states and give getter rates than their larger competitors like Allstate or State Farm.