Have you fallen victim to high-priced auto insurance? Believe me, there are a lot of people in Schaumburg just like you who feel imprisoned by their auto insurance policy. Since consumers have many online and local companies to choose from, it can be impossible to choose the best insurance company.
Components of your insurance rates
It’s important that you understand the factors that help determine the rates you pay for auto insurance. Having a good understanding of what determines base rates allows you to make educated decisions that can help you get much lower annual insurance costs.
- Save money with special equipment – Owning a car with an alarm system can save you a little every year. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent auto theft.
- Older drivers save more – Older drivers are more responsible, statistically cause fewer accidents and are safer drivers. Teenage drivers tend to be more careless behind the wheel therefore auto insurance rates are much higher.
- Do you have a high stress job? – Occupations like lawyers, business owners and stock brokers are shown to have the highest rates due to job stress and long work days. On the other hand, professions such as actors, students and the unemployed pay the least.
- Careful drivers pay lower rates – Even a single moving violation can boost insurance rates by as much as thirty percent. Careful drivers have lower premiums than people who have multiple driving citations. Drivers who get severe violations like reckless driving, hit and run or driving under the influence may be required to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.
- Don’t let your coverage lapse – Letting your insurance expire will be a guaranteed way to pay more for auto insurance. Not only will you pay more, failure to provide proof of insurance will get you a license revocation or jail time.
Which Auto Insurance is Cheapest in Schaumburg?
Reducing your insurance rates is actually quite simple. You just have to spend a little time getting comparison quotes from different insurance companies. It is quite easy and can be accomplished using a couple different methods.
- One of the simplest ways to get the best comparison quotes is a comparison rater form click here to open form in new window. This form keeps you from doing boring form submissions for each company. Filling out one form gets you price quotes from many national carriers.
- A less efficient way to compare prices is to take the time to go to the website for each individual company and complete a new quote form. For sake of this example, let’s assume you want comparison quotes from USAA, Geico and Allstate. To get rate quotes you would need to visit each site and enter your information, and that’s why the first method is more popular.
To view a list of companies in Schaumburg, click here.
- The least recommended way of getting rate comparisons is driving around to and from local Schaumburg insurance agencies. Shopping for auto insurance online makes this process obsolete unless you require the personal advice of a licensed agent. Drivers can compare online quotes but still have the advice of a local agent and we’ll touch on that later.
It’s up to you which method you use, but be sure to compare identical coverage information on every quote you get. If you have different deductibles it will be very difficult to truly determine the lowest rate in Schaumburg.
Don’t listen to company ads
Illinois drivers can’t get away from ads for the lowest price auto insurance from companies such as State Farm and Allstate. All the companies make the same claim that you’ll save big if you switch your policy.
But how can every company say the same thing? This is how they do it.
All the different companies have a preferred profile for the right customer that makes them money. A good example of a driver they prefer might be over the age of 50, insures multiple vehicles, and has great credit. A customer who matches those parameters will qualify for the lowest rates and most likely will pay quite a bit less when switching companies.
Potential insureds who do not match the requirements will be charged higher premiums and this can result in the customer not buying. Company advertisements say “customers who switch” not “everybody who quotes” save money. That’s why insurance companies can confidently advertise the way they do. That is why it’s extremely important to quote coverage with many companies. It is impossible to predict which company will have the lowest rates.
Verify you’re getting all your discounts
Companies that sell car insurance do not advertise all available discounts very well, so we took the time to find some of the best known and the harder-to-find discounts you could be receiving. If you don’t get every credit you deserve, you are throwing money away.
- Sign Online – Certain companies will give a small break just for signing your application over the internet.
- Driver’s Ed – Have your child take driver’s ed class in school.
- Homeowners Discount – Being a homeowner can save you money because owning a home is proof that your finances are in order.
- Seat Belts Save more than Lives – Drivers who require all occupants to use a seat belt could save 15% off the personal injury premium cost.
- Military Rewards – Being deployed with a military unit can result in better rates.
- Pay Upfront and Save – If you pay your entire premium ahead of time rather than paying monthly you could save 5% or more.
- Passive Restraints and Air Bags – Vehicles with factory air bags can qualify for discounts of 20% or more.
- Federal Government Employee – Employees or retirees of the government could cut as much as 10% off with certain companies.
Drivers should understand that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, you’re out of luck.
Can’t I compare rates from local Schaumburg agents?
A small number of people just want to buy from a local agent and that is just fine! Insurance agents can answer important questions and help file insurance claims. One of the great benefits of getting online price quotes is that you can obtain the lowest rates and still have an agent to talk to.
To help locate an agent, after submitting this quick form, your information is immediately sent to insurance agents in Schaumburg who will battle for your coverage. There is no need to drive around due to the fact that quote results will go to your email. How cool is that?!
Choosing a company should depend on more than just a cheap price. Ask your prospective agent these questions:
- How long have they worked with personal auto insurance coverage?
- Can they provide you with a list of referrals?
- Can glass repairs be made at your home?
- If your car is totalled, how to they determine the replacement cost?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Are there any discounts that you might be missing?
- If they are an independent agency, which companies do they recommend?
Types of insurance agencies in Schaumburg
If you’re trying to find an insurance agent, you need to know there are two types of insurance agents that you can select. Schaumburg agents are categorized either captive or independent (non-captive). Both types can properly insure your vehicles, but it’s worth learning how they differ since it can impact your agent selection.
Captive Insurance Agents
Captive insurance agents can only place business with one company and some examples include AAA, State Farm, Farmers Insurance and Allstate. Captives cannot compare other company’s rates so they have to upsell other benefits. Captives receive extensive training on their company’s products and that can be a competitive advantage.
Shown below are Schaumburg captive insurance agencies willing to provide price quotes.
Allstate Insurance – 1226 N Roselle Rd # A – Schaumburg, IL 60195 – (847) 882-5500
American Family Insurance – 120 W Golf Rd – Schaumburg, IL 60195 – (847) 781-8701
Farmers Insurance Group – 830 E Higgins Rd # 111i – Schaumburg, IL 60173 – (847) 605-1900
Independent Agencies or Brokers
Independent agencies are not locked into one company so they can insure your vehicles with multiple insurance companies and potentially find a lower price. If your agent finds better pricing, the business is moved internally without you having to go to a different agency.
When comparing rates, it’s recommended you contact multiple independent agents to have the most options to choose from.
Below is a list of independent insurance agents in Schaumburg who can help you get comparison quotes.
Casey Insurance – 1916 Wright Blvd – Schaumburg, IL 60193 – (847) 352-1858
Bill Kaminski Agency – 120 W Golf Rd # 100 – Schaumburg, IL 60195 – (847) 882-9868
David G Kent Agency – 120 W Golf Rd # 100 – Schaumburg, IL 60195 – (847) 885-9981
Aegis Insurance Inc – 830 E Higgins Rd – Schaumburg, IL 60173 – (847) 995-0213
Graig Larsen Agency – 1340 Remington Rd # M – Schaumburg, IL 60173 – (847) 490-0606
To view a full list of licensed insurance agents in Schaumburg, visit this site.
Upon getting reasonable responses to your questions in addition to an acceptable price estimate, you’ve probably found an insurance agency that will insure your vehicles.
When should I talk to an agent?
When choosing the right insurance coverage for your personal vehicles, there is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. For example, these questions may help highlight whether or not you may require specific advice.
- Am I covered when pulling a rental trailer?
- How do I file an SR-22 for a DUI in Illinois?
- Do all my vehicles need collision coverage?
- Should I buy only the required Illinois minimum liability coverage?
- Does my car insurance cover rental cars?
- What if I don’t agree with a claim settlement offer?
If you’re not sure about those questions, you might consider talking 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. It’s fast, free and may give you better protection.
More detailed Illinois auto insurance information can be read at the Illinois Department of Insurance website. Visitors are able to read consumer alerts, view a list of available companies, file complaints about an insurance agent or broker, and discover disciplinary actions.
Quote more, save more
Cheap auto insurance is possible from both online companies in addition to many Schaumburg insurance agents, and you should compare price quotes from both to get a complete price analysis. Some auto insurance companies do not provide online quoting and many times these regional insurance providers only sell through independent insurance agents.
Throughout this article, we presented some good ideas how you can shop for auto insurance online. The most important thing to understand is the more you quote, the better likelihood of reducing your rate. Consumers could even find that the biggest savings come from a smaller regional carrier. Regional companies may only write in your state and offer lower rates than the large multi-state companies such as State Farm and Allstate.