Confused by the number of auto insurance companies available to you? You’re not alone. You have so many companies available that it can be a real difficult job to lower your auto insurance rates. If you’ve ever been there, you know that Danville is a wonderful place to live, but high auto insurance premiums can make it hard for many residents to stay on budget.
It’s a good habit to price shop coverage occasionally because insurance prices fluctuate regularly. Despite the fact that you may have had the best deal a year ago there may be better deals available now. Forget anything you know (or think you know) about auto insurance because you’re going to get a crash course in the tricks you need to know to find lower rates on auto insurance.
How to lower your auto insurance premiums
When buying auto insurance it’s important to understand the factors that help calculate your policy premiums. When you know what positively or negatively determines base rates, this helps enable you to make changes that will entitle you to lower rates.
Listed below are some of the most common factors used by your company to calculate prices.
- Low credit history equals high costs – Having a good credit history is a large factor in calculating your auto insurance rates. If your credit is not that good, you could save money insuring your vehicle by spending a little time repairing your credit. Insureds with very good credit scores tend to be more responsible as compared to drivers with lower credit scores.
- If you don’t need it don’t buy it – Insurance policies have a lot of optional add-on coverages that can waste your money if you aren’t careful. Add-on coverages like rental car coverage, death and dismemberment, and membership fees are probably not needed. They may seem like a good idea when discussing your needs, but if you’ve never needed them in the past consider taking them off your policy.
- Small frequent auto insurance claims are not good – If you frequently file small claims, don’t be surprised to see either higher rates or even cancellation. Insurance companies in Illinois generally give lower rates to policyholders who do not rely on their insurance for small claims. Auto insurance is meant to be used in the event of more catestrophic claims.
- Your vocation is a factor – Did you know that where you work can have an impact on rates? Careers such as fire fighterspolice officers and miners tend to have higher premiums than the average policyholder in part from intense work-related stress and lengthy work days. On the other hand, careers like scientists, athletes and the unemployed receive lower rates.
Save a ton by taking advantage of discounts
Properly insuring your vehicles can get expensive, but you might already qualify for some discounts to help bring down the price. Some discounts apply automatically at quote time, but once in a while a discount must be asked for prior to getting the savings.
- Policy Bundle Discount – If you have multiple policies with one company you could save up to 20% off your total premium.
- Air Bag Discount – Options like air bags can get savings of 20 to 30 percent.
- Pay Now and Pay Less – If you can afford to pay the entire bill as opposed to paying monthly you can actually save on your bill.
- College Student – Youth drivers who are enrolled in higher education away from home without a vehicle on campus can receive lower rates.
- Good Student Discount – A discount for being a good student may save as much as 25% on a . This discount can apply well after school through age 25.
- Accident-Free Discounts – Good drivers with no accidents get the best auto insurance rates as opposed to bad drivers.
- One Accident Forgiven – Not really a discount, but some companies like State Farm, Progressive and Geico allow you one accident without the usual rate increase so long as you are claim-free prior to the accident.
- Responsible Driver Discount – Drivers who don’t get into accidents can save as much as half off their rates than their less cautious counterparts.
- Professional Memberships – Affiliation with a qualifying organization is a good way to get lower rates on your next renewal.
As a sidenote, most discount credits are not given to the entire policy premium. Some only apply to the cost of specific coverages such as medical payments or collision. Despite the appearance that adding up those discounts means a free policy, that’s just not realistic.
To see a list of insurance companies with discount rates in Illinois, follow this link.
How much auto insurance do I need?
When choosing proper insurance coverage, there really is not a cookie cutter policy. Your needs are not the same as everyone else’s.
For instance, these questions may help you determine if you might need an agent’s assistance.
- Does liability extend to a camper or trailer?
- Does having multiple vehicles earn me a discount?
- What can I do if my company won’t pay a claim?
- How much liability coverage do I need in Illinois?
- How much liability do I need to cover my assets?
- Can I get a multi-policy discount for packaging my home and auto coverage?
- Should I put collision coverage on all my vehicles?
- Can my teen driver be rated on a liability-only vehicle?
- When should I remove comp and collision on my vehicle?
- What companies insure drivers after a DUI or DWI?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed insurance agent. If you don’t have a local agent, complete this form.
More detailed Illinois auto insurance information is available at the Illinois Department of Insurance website. Illinois consumers can find out which companies have the most complaints, read enforcement actions against agents and companies, and read consumer alerts.
More related Danville auto insurance information:
More effort can pay off
You just read many ideas to get a better price on auto insurance. The most important thing to understand is the more rate comparisons you have, the better likelihood of getting . Consumers could even find that the best price on auto insurance is with some of the lesser-known companies.
People change insurance companies for any number of reasons including high rates after DUI convictions, not issuing a premium refund, questionable increases in premium or even policy non-renewal. No matter why you want to switch, finding a great new company is not as hard as you think.
Lower-priced auto insurance can be found on the web in addition to many Danville insurance agents, so you should be comparing quotes from both to have the best selection. There are still a few companies who do not provide online rate quotes and most of the time these regional insurance providers provide coverage only through independent agents.