Overpriced auto insurance can empty your bank account and force you to make sacrifices. Shopping your coverage around is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.
Because there are so many choices of insurance companies, it can be challenging to find the most cost effective car insurance company.
You should make it a habit to shop coverage around at least once a year since rates are usually higher with each renewal. Despite the fact that you may have had the lowest price on your last policy you can probably find a better price now. So forget all the misinformation about auto insurance because you’re going to learn one of the best ways to save on auto insurance.
Auto Insurance Prices in Peoria, Illinois
Most major insurance companies give coverage price quotes directly from their websites. Obtaining pricing doesn’t take a lot of time as you simply enter your required coverages as requested by the quote form. After the form is submitted, their system collects your driving record and credit report and generates pricing information based on these and other factors. Quoting online makes it a lot easier to compare rates but the time it takes to visit several different sites and complete many quote forms can be a bit tiresome and repetitive. But it is imperative to compare as many rates as possible if you are searching for the lowest price.
Compare rates the easy way
The smarter way to find cheaper rates uses one form to get prices from more than one company. It’s a real time-saver, helps eliminate reptitive entry, and makes rate comparisons a little more enjoyable. After sending the form, it is rated and you are able to buy any or none of the returned quotes.
If the quotes result in lower rates, you simply finish the application and buy the policy. It takes less than 15 minutes and may save quite a bit of money.
To quickly compare pricing, click here to open in a new tab and submit the form. If you have your current policy handy, we recommend you copy the coverage information as close as possible to your current policy. This way, you will have rate comparison quotes based on identical coverages.
Switch companies and save? Really?
Companies like Progressive, Geico, Allstate and State Farm regularly use ads on television and other media. All the ads have a common claim that you’ll save big if you move to their company. How do they all make almost identical claims?
All companies have a preferred profile for the right customer that earns them a profit. For instance, a desirable insured could be over the age of 50, insures multiple vehicles, and drives newer vehicles. Any driver who matches those parameters will qualify for the lowest rates and is almost guaranteed to pay quite a bit less when switching companies.
Consumers who do not match the requirements must pay a more expensive rate and this can result in business not being written. The ads state “customers that switch” not “everyone that quotes” save money. That is how companies can truthfully advertise the way they do.
This illustrates why you need to compare as many rates as you can. You cannot predict which company will give you the biggest savings.
Lower rates by qualifying for these six discounts
Car insurance is not cheap, but you may find discounts to help bring down the price. Larger premium reductions will be automatically applied when you quote, but a few must be inquired about before they will apply.
- Accident Forgiveness – Some insurance companies permit an accident before raising your premiums if your claims history is clear prior to the accident.
- No Accidents – Drivers with accident-free driving histories can save substantially when compared with frequent claim filers.
- Sign Online – A few companies give back up to $50 for buying a policy and signing up over the internet.
- Multiple Policy Discount – When you combine your home and auto insurance with one insurance company you could get a discount of 10% to 20% off each policy.
- Multiple Vehicles – Buying coverage for multiple vehicles on one policy may reduce the rate for each vehicle.
- Senior Discount – If you’re over the age of 55, you may be able to get a discount up to 10%.
As a disclaimer on discounts, some credits don’t apply to the entire cost. Most only reduce specific coverage prices like liability and collision coverage. So when the math indicates all those discounts means the company will pay you, it doesn’t quite work that way. But all discounts will cut your premiums.
To choose insurers offering auto insurance discounts in Peoria, click here to view.
Quote online but still have a local agent
Some people prefer to buy from a licensed agent and there is nothing wrong with that. The biggest benefit of comparing rates online is the fact that you can find better rates and still have an agent to talk to. Supporting local businesses is important especially in Peoria.
Once you complete this simple form, the quote information is sent to participating agents in Peoria who will return price quotes for your coverage. You never need to leave your computer since price quotes are sent to the email address you provide. You can find better rates AND a local agent.
Insurance agents in Peoria come in two varieties
If you’re trying to find a local agent, there are a couple of types of insurance agents that differ in how they can insure your vehicles. Agents are classified as either captive or independent (non-captive).
Independent Agencies or Brokers
Independent agents are not employed by any specific company so they can insure your vehicles with multiple insurance companies and possibly get better coverage at lower prices. If you are not satisfied with one company, an independent agent can move your coverage and you don’t have to find a new agent. When searching for an agent, we recommend you contact multiple independent agents to get the best comparison.
Shown below are Peoria independent insurance agents that are able to give pricing information.
Iliff and Hauser Agency – 3100 N Knoxville Ave # 206 – Peoria, IL 61603 – (309) 686-9090
Auto-Owners Insurance Co – 6715 N Big Hollow Rd – Peoria, IL 61615 – (309) 692-5657
Ronald J Schneider Insurance – 3108 N University St – Peoria, IL 61604 – (309) 685-7300
Tim Sheppard Agency – 1200 W Pioneer Pkwy – Peoria, IL 61615 – (309) 691-8791
Hecht-Stout Agency Inc – 4700 N University St # 65 – Peoria, IL 61614 – (309) 693-3388
Agency Captives
This type of agents write business for a single company like AAA, Allstate and State Farm. Captives cannot provide prices from multiple companies so they have no alternatives for high prices. They are well schooled in insurance sales which helps them sell insurance even at higher premiums.
Listed below is a short list of captive insurance agents in Peoria who can help you get price quote information.
Farmers Insurance Group – 2600 N Knoxville Ave – Peoria, IL 61604 – (309) 682-9660
State Farm Insurance – 713 W Lake Ave # 1 – Peoria, IL 61614 – (309) 688-7070
American Family Insurance – 2020 W War Memorial Dr # 102 – Peoria, IL 61614 – (309) 685-5522
Allstate Insurance Co – 5901 N Prospect Rd # 13 – Peoria, IL 61614 – (309) 693-2222
To view a full list of auto insurance agents in Peoria, please click here.
Selecting an insurance agent requires more thought than just a low price. These are valid questions to ask:
- Which insurance companies are they affiliated with?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Who is covered by the car insurance policy?
- Can glass repairs be made at your home?
- How often do they review policy coverages?
- Is assistance available after office hours?
- Are claims handled at the agent’s location?
- Which company do they place the most coverage with?
After receiving satisfactory answers to your questions as well as a affordable price, chances are good that you have found an insurance agent that can properly insure your vehicles. Just keep in mind once you purchase a policy you can cancel a policy at any point so never feel that you’re stuck with a specific agent for the entire policy term.
You may need specialized coverage
When choosing coverage, there really is no perfect coverage plan. Each situation is unique so this has to be addressed. For instance, these questions can aid in determining whether or not you could use an agent’s help.
- Do I pay less if my vehicle is kept in my garage?
- What is covered by UM/UIM coverage?
- Do I have any recourse if my insurance company denies a claim?
- Can I afford low physical damage deductibles?
- Will my vehicle be repaired with OEM or aftermarket parts?
- When should my teen driver be added to my policy?
If you can’t answer these questions but a few of them apply, you might consider talking to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies.
Auto insurance coverage specifics
Knowing the specifics of auto insurance helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Shown next are typical coverages offered by auto insurance companies.
Medical expense insurance
Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses such as surgery, chiropractic care and prosthetic devices. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers you and your occupants and also covers any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay
Protection from uninsured/underinsured drivers
This coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your vehicle.
Since a lot of drivers have only the minimum liability required by law (Illinois limits are 20/40/15), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Normally your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Collision insurance
This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like rolling your car, scraping a guard rail, sideswiping another vehicle and backing into a parked car. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Drivers also have the option to choose a higher deductible to bring the cost down.
Liability insurance
This protects you from injuries or damage you cause to other people or property. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.
Liability insurance covers claims such as pain and suffering, medical expenses, emergency aid and repair costs for stationary objects. How much liability should you purchase? That is your choice, 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 higher limits.
Comprehensive (Other than Collision)
Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against things like damage from flooding, hitting a deer, vandalism, a tree branch falling on your vehicle and falling objects. The most a auto insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Additional information is available on the website for the Illinois Department of Insurance located here. Illinois consumers can find out which companies have the most complaints, read consumer alerts, and report car insurance fraud.
The following articles may also be useful.
- Expert Advice on Cheaper Peoria Auto Insurance
- Peoria, AZ Car Insurance Buying Tips You Arent Supposed to Know
- Top 5 Ways to Get Lower Rates on Car Insurance in Peoria, AZ
Quote more, save more
We covered many ideas to compare auto insurance prices online. The most important thing to understand is the more price quotes you have, the better chance you’ll have of finding lower rates. You may even find the lowest priced auto insurance comes from a small mutual company. Regional companies can often provide lower rates in certain areas as compared to the big name companies such as State Farm, Geico and Nationwide.
When trying to cut insurance costs, make sure you don’t skimp on coverage in order to save money. Too many times, drivers have reduced comprehensive coverage or liability limits only to discover later that it was a big error on their part. The proper strategy is to purchase plenty of coverage at the best price while still protecting your assets.