Tightwads Guide for Saving on Peoria Illinois Auto Insurance

Purchasing the lowest cost Peoria auto insurance on the internet can seem to be somewhat difficult for consumers not familiar with buying insurance on the web. With such a large number of companies competing online, how can you even start to compare them all to find the best price?

Smart consumers take time to do rate comparisons at least once a year because prices go up and down regularly. Just because you had the best deal on your last policy a different company probably has better rates today. There is a lot of bad information regarding auto insurance on the internet, so by reading this article, you’re going to learn the best ways to buy auto insurance cheaper.

Fast and Easy Peoria Auto Insurance Quotes

Shopping for lower auto insurance rates can be challenging if you don’t know the fastest way to get free quotes. You could spend the better part of a day discussing policy coverages with agents in Peoria, or you could use online quoting to quickly compare rates.

Most of the best insurance companies belong to a marketplace that enables customers to enter their policy data once, and every company can give them a price. This eliminates the need for quotation requests to every company.

To compare rates now click here to open in new window.

The one disadvantage to using this type of form is you cannot specify which insurance companies to get pricing from. If you would rather choose specific insurance companies to compare rates, we have assembled a list of companies who write auto insurance in Illinois. View list of Illinois insurance companies.

It’s up to you how you get prices quotes, just compare the exact same coverage information for each price quote. If you compare mixed coverages it will be very difficult to determine the best price in Peoria. Just a small difference in coverages can make a big difference in price. Just remember that obtaining a wide range of quotes helps locate a lower rate.

Do drivers who switch really save $424 a year?

Progressive, GEICO, Allstate and State Farm regularly use ads on TV and radio. All the companies make the same claim about savings if you move to their company. How do they all make almost identical claims? This is how they do it.

All companies are able to cherry pick for the right customer that makes them money. An example of a desirable insured could be a mature driver, has no driving citations, and has a high credit rating. Any new insured that hits that “sweet spot” will get the preferred rates and therefore will pay quite a bit less when switching companies.Peoria IL insurance cheap

Consumers who fall outside the “perfect” profile must pay higher rates which usually ends up with business not being written. The ads state “customers who switch” not “everybody who quotes” save that much. That is how companies can truthfully make the claims of big savings.

This illustrates why drivers must compare many company’s rates. It is impossible to predict which insurance companies will have the lowest rates.

Why some people pay less for insurance in Peoria

Smart consumers have a good feel for some of the elements that play a part in calculating auto insurance rates. Understanding what impacts premium levels enables informed choices that could result in lower auto insurance prices.

  • Your location affects your rates – Being located in a small town is a positive aspect when buying auto insurance. Drivers who live in large cities have more traffic problems and a longer drive to work. Lower population means reduced accidents.
  • Extra coverages can waste money – There are a lot of extra coverages that can waste your money when buying auto insurance. Things like personal injury protection, accident forgiveness and membership fees may be wasting your money. They may seem like a good idea initially, but your needs may have changed so remove them from your policy.
  • Pleasure use saves money – The more you drive in a year the higher your rates will be. The majority of insurers apply a rate based on how the vehicle is used. Autos that are left in the garage qualify for better rates compared to those used for work or business. Verify your auto insurance policy is rated on the correct driver usage.
  • Don’t sacrifice liability coverage – Liability coverage will protect you if ever a jury decides you are liable for causing damage or personal injury in an accident. It provides you with a defense in court up to the limits shown on your policy. This coverage is very inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
  • Do you qualify for a multi-policy discount? – The majority of insurance companies provide better rates to customers who consolidate policies with them such as combining an auto and homeowners policy. This can amount to 10 percent or more. Even with this discount, you may still want to compare rates to verify if the discount is saving money.
  • Higher safety ratings means cheaper insurance – Vehicles with good safety scores tend to have better insurance rates. These vehicles have better occupant injury protection and any reduction in injury severity means less money paid by your insurance company and thus lower rates.
  • Increase deductibles and save – Deductibles for physical damage define the amount you are required to spend before a claim is paid by your company. Physical damage coverage, also known as collision and other-than-collision, protects your car from damage. Examples of covered claims would be running into the backend of another car, damage caused by hail, or theft. The more money you’re willing to pay, the lower your rates will be.
  • Equipment add-ons that lower auto insurance rates – Owning a car that has an advanced theft prevention system can help bring down rates. Theft prevention features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent your car from being stolen.

Cut your premium with discounts

Insuring your fleet can be pricey, but discounts can save money and there are some available to help offset the cost. Larger premium reductions will be automatically applied at the time of quoting, but lesser-known reductions have to be specifically requested before you will receive the discount.

  • More Vehicles More Savings – Buying insurance for multiple cars or trucks on the same auto insurance policy qualifies for this discount.
  • Pay Upfront and Save – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
  • Homeowners Pay Less – Being a homeowner may earn you a small savings due to the fact that maintaining a home shows financial diligence.
  • Accident Forgiveness – Some insurance companies permit an accident before your rates go up if you are claim-free for a particular time prior to the accident.
  • New Car Discount – Adding a new car to your policy is cheaper compared to insuring an older model.
  • Drive Less and Save – Driving fewer miles could be rewarded with better rates on cars that stay parked.
  • Distant Student – Any of your kids who attend school more than 100 miles from home and don’t have a car can be insured at a reduced rate.
  • Safety Course Discount – Taking part in a course in driver safety could cut 5% off your bill if your company offers it.
  • Drivers Education – Cut your cost by having your teen driver enroll in driver’s education if it’s offered in school.

A little note about advertised discounts, some credits don’t apply to all coverage premiums. Most cut the cost of specific coverages such as liability and collision coverage. Even though it may seem like adding up those discounts means a free policy, it just doesn’t work that way. But all discounts will bring down your overall premium however.

To choose insurance companies with discount auto insurance rates in Illinois, follow this link.

What is the best insurance coverage?

When buying the best auto insurance coverage for your vehicles, there is no “perfect” insurance plan. Coverage needs to be tailored to your specific needs.

These are some specific questions may help highlight whether or not you could use an agent’s help.

  • What companies insure drivers after a DUI or DWI?
  • Should I rate my vehicle as pleasure use or commute?
  • Does my personal auto insurance policy cover using my vehicle for business use?
  • Does my policy cover me when driving someone else’s vehicle?
  • How many claims can I have before being cancelled?
  • Does coverage extend to a rental car in a foreign country?
  • Can my teen driver be rated on a liability-only vehicle?
  • What can I do if my company won’t pay a claim?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?

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, take a second and complete this form.

Peoria Illinois car insurance

One last thing

As you go through the steps to switch your coverage, never sacrifice coverage to reduce premiums. There are many occasions where someone dropped physical damage coverage and discovered at claim time they didn’t purchase enough coverage. Your goal should be to purchase plenty of coverage at the best price, not the least amount of coverage.

People leave their current company for a variety of reasons including being labeled a high risk driver, policy cancellation, poor customer service and delays in paying claims. Regardless of your reason, finding a new auto insurance company can be easier than you think.

We covered a lot of techniques to shop for auto insurance online. The key concept to understand is the more quotes you get, the better your comparison will be. You may be surprised to find that the biggest savings come from a small mutual company.

More information is available on the Illinois Department of Insurance website through this link. Consumers can read state legal mandates and laws, report car insurance fraud, and get help finding coverage.

More related Peoria auto insurance information: