10 Methods to Save on Car Insurance in Peoria

Searching for the cheapest Peoria car insurance on the internet may be difficult for consumers new to buying insurance on the web. With a ridiculous number of choices, how can Peoria drivers effectively compare every company to locate the best available price?

You should make it a habit to shop coverage around yearly since rates are usually higher with each renewal. Just because you had the best rates two years ago other companies may now be cheaper. Block out anything you think you know about car insurance because we’re going to demonstrate the proper way to reduce your cost while improving coverage.

If you are paying for car insurance now, you will be able to lower your premiums substantially using these methods. This article will instruct you on how to effectively get price quotes and some tricks to saving. But Illinois consumers must learn the methods companies use to sell online.

Take advantage of discounts

Companies offering auto insurance don’t always list all their discounts very well, so the following is a list of both the well known and also the lesser-known discounts you could be receiving.

  • Employee of Federal Government – Active or retired federal employment may qualify you for a discount with certain companies.
  • E-sign – A few companies will discount your bill up to fifty bucks simply for signing digitally online.
  • College Student – Kids in college who attend school more than 100 miles from home without a vehicle on campus can be insured at a reduced rate.
  • Auto/Life Discount – Some companies give lower rates if you buy a life insurance policy as well.
  • Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
  • Low Mileage – Keeping the miles down can earn lower rates on the low mileage vehicles.
  • Payment Discounts – If you pay your bill all at once instead of paying each month you could save 5% or more.
  • Seat Belts Save more than Lives – Requiring all passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Early Switch Discount – Some companies give discounts for buying a policy before your current expiration date. It’s a savings of about 10%.
  • Driver Safety – Successfully completing a course teaching defensive driving skills could cut 5% off your bill and easily recoup the cost of the course.

Consumers should know that most of the big mark downs will not be given to the entire cost. A few only apply to the cost of specific coverages such as medical payments or collision. So despite the fact that it appears you can get free auto insurance, car insurance companies aren’t that generous.

To choose companies with the best car insurance discounts in Illinois, click here.

Comprehensive Car Insurance Comparison in Peoria, Illinois

The are a couple different ways of comparing rate quotes from car insurance companies in your area. By far the easiest way to find the cheapest insurance rates consists of obtaining rate quotes online. This can be accomplished in several different ways.

One of the simplest ways to find the lowest comparison rates would be an industry-wide quote request form (click to open form in new window). This method saves time by eliminating separate forms for each company you want a rate for. A single, simple form will get you rate comparisons instantly. It’s the fastest way to compare.

Another way to shop for car insurance online is spending the time to visit the website for every company you want to comare to complete their respective quote request forms. For sake of this example, we’ll pretend you want comparison quotes from GEICO, Farmers and Allstate. To find out each rate you need to visit each site and enter your information, and that’s why the first method is more popular.

For a handy list of car insurance company links in Peoria, click here.

The most time-consuming method of getting rate comparisons is to waste gas driving to and from local Peoria insurance agencies. The ability to buy insurance online can eliminate the need for a local agent unless you prefer the trained guidance that only a license agent can provide. However, consumers can get the lowest quotes online and still use a local agent.

However you get your quotes, ensure you’re using identical deductibles and coverage limits on every quote. If your comparisons have different values for each quote you can’t possibly make a fair comparison in Peoria. Having just a slight variation in coverage limits can result in a big premium difference. And when comparing car insurance rates, know that getting more free quotes provides better odds of finding a better price.

Do I just need basic coverages?

When choosing proper insurance coverage for your personal vehicles, there really is not a “best” method to buy coverage. Each situation is unique.

For example, these questions can help discover whether or not you may require specific advice.

  • Do I get a pro-rated refund if I cancel my policy early?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Do I pay less if my vehicle is kept in my garage?
  • Are all vehicle passengers covered by medical payments coverage?
  • Am I covered if I wreck a rental car?
  • Why am I required to get a high-risk car insurance policy?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Do I benefit by insuring my home with the same company?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. If you want to speak to an agent in your area, complete this form.

Buying car insurance locally

A small number of people prefer to visit with an insurance agent and that is OK! One of the great benefits of getting online price quotes is you can get lower rates and still have an agent to talk to.

To make it easy to find an agent, after completing this simple form, your information gets sent to agents in your area who will return price quotes for your business. You never need to leave your computer since price quotes are sent to the email address you provide. How’s that for easy! You’ll get the best rates and work with a local agent.price insurance in Peoria Illinois

Deciding on an provider should depend on more than just the bottom line cost. These are valid questions to ask:

  • Are there any discounts that you might be missing?
  • Are they able to influence company decisions when a claim is filed?
  • Who are their largest clients?
  • Do they carry Errors and Omissions coverage?
  • Is their price quote a firm figure or are their hidden costs?
  • Does the agency have a good rating with the Better Business Bureau?

Types of insurance agents in Peoria

When looking for local Peoria agents, you need to know there are two types of insurance agents to choose from. Agencies in Peoria are either captive or independent.

Captive Insurance Agents

Captive agencies can only write with one company and examples are State Farm, AAA and Liberty Mutual. These agents are not able to place coverage with different providers so keep that in mind. Captive agents are very knowledgeable on the products they sell which helps them compete with independent agents. Consumers often buy insurance from these agents mostly because of the prominence of the brand and the convenience of having a single billing for all their coverages.

Listed below is a list of captive agencies in Peoria willing to provide rate quotes.

  • Allstate Insurance – 3701 N Sheridan Rd – Peoria, IL 61614 – (309) 681-0050
  • State Farm Insurance – 7326 N University St – Peoria, IL 61614 – (309) 692-3660
  • American Family Insurance – 2600 W Richwoods Blvd – Peoria, IL 61604 – (309) 688-9130
  • Farmers Insurance Group – 2600 N Knoxville Ave – Peoria, IL 61604 – (309) 682-9660
Independent Agents (or Brokers)

Independent agencies are not locked into one company but rather can write business with any number of different companies and potentially find a lower price. To transfer your coverage to a different company, the business is moved internally and you don’t have to find a new agent.

When searching for an agent, we recommend you get quotes from at least one independent agent for maximum quote selection. They also have the ability to place coverage with smaller regional carriers which can be an advantage.

The following is a short list of independent insurance agents in Peoria that are able to give comparison quotes.

  • Aaron Simmons Insurance – 318 W Mcclure Ave – Peoria, IL 61604 – (309) 688-1232
  • Hecht-Stout Agency Inc – 4700 N University St # 65 – Peoria, IL 61614 – (309) 693-3388
  • Iliff and Hauser Agency – 3100 N Knoxville Ave # 206 – Peoria, IL 61603 – (309) 686-9090
  • Tim Sheppard Agency – 1200 W Pioneer Pkwy – Peoria, IL 61615 – (309) 691-8791
  • Guide One Insurance – 3100 N Knoxville Ave – Peoria, IL 61603 – (309) 686-8258

To view a full list of Peoria insurance agents, go to this page.

Once you have received positive feedback to any questions you have and an acceptable price quote, most likely you have located an auto insurance agent that will adequately provide car insurance.

Coverages available on your car insurance policy

Having a good grasp of car insurance aids in choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your vehicle.

Because many people only carry the minimum required liability limits (which is 20/40/15), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Auto liability insurance – This coverage can cover damages or injuries you inflict on other people or property. This coverage protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.

Liability insurance covers things such as medical services, loss of income and court costs. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible. Illinois state law requires minimum liability limits of 20,000/40,000/15,000 but it’s recommended drivers buy higher limits.

Collision – This coverage will pay to fix damage to your vehicle caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers things like backing into a parked car, sustaining damage from a pot hole and damaging your car on a curb. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. You can also raise the deductible to bring the cost down.

Medical expense coverage – Coverage for medical payments and/or PIP kick in for expenses such as hospital visits, X-ray expenses, surgery, pain medications and nursing services. They are often used to cover expenses not covered by your health insurance policy or if you do not have health coverage. It covers you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Comprehensive protection – This will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like rock chips in glass, damage from getting keyed, damage from a tornado or hurricane and theft. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

A little work can save a LOT of money

When buying insurance coverage, it’s not a good idea to reduce needed coverages to save money. Too many times, someone sacrificed physical damage coverage only to regret they didn’t purchase enough coverage. Your focus should be to find the BEST coverage at an affordable rate.

Drivers change insurance companies for many reasons like being labeled a high risk driver, policy non-renewal, questionable increases in premium and even delays in paying claims. It doesn’t matter why you want to switch switching car insurance companies is pretty easy and you might even save some money in the process.

Throughout this article, we presented many tips how you can get a better price on car insurance. The key concept to understand is the more times you quote, the better chance you’ll have of finding lower rates. Consumers could even find that the lowest rates come from a lesser-known regional company.

More tips and info about car insurance is located at the Illinois Department of Insurance website. Visitors are able to find out which companies have the most complaints, read enforcement actions against agents and companies, read industry bulletins, and view agent and company licensing information.

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