Cheap Insurance Chicago

 

Chicago Insurance

With 2.7 million residents (9.5 if you count the greater metropolitan area), Chicago, Illinois is the 3rd most populous city in the nation, and the largest city in the Midwest. Chicago is considered one of the most important business centers in the world in terms of wealth and economy. The cost of living in Chicago is 14% higher than the Illinois average, and 12% higher than the national average. This means you probably already feel the need to find cheap insurance like your neighbors.

The city is an international hub for finance, commerce, industry, technology, telecommunications, and transportation. O’Hare International Airport is the second-busiest airport in the world, and the city has one of the world’s largest and most diversified economies with no single industry employing more than 14% of the workforce. Chicago hosts over 54 million domestic and international visitors a year, making it one of the most top visited cities in the nation. Despite having one of the best public transportation systems in the nation, most residents still choose their automobile to get around, so finding the many options for cheap car insurance Chicago offers is a priority.

Public Transportation

As part of the state’s “GreenState” initiative, miles of bike lanes have been added or updated in Chicago and the surrounding areas, making the city the 5th most bike friendly in the U.S. One way to avoid highway delays is to forgo the car commute completely. Fortunately Chicago has some pretty decent public transportation, including the Chicago Transit Authority’s famous “L” trains, which is the third-busiest system in the U.S. after New York City and WashingtonD.C. CTA routes and times can be found on their website. Did you know that commuting on public transportation can actually lower your car insurance rates? That’s because insurance companies rate you, in part, on how many miles per day you drive!

 

Car Insurance

Every city has its share of traffic congestion, but major US cities like Chicago have some of the worst. With so much stop and go, and so many cars on the road, it’s essential to find all the options for cheap car insurance Chicago can offer. The good part of living in such a major city is that there are more insurance companies to choose from. This guarantees you’ll have plenty of choices. Make sure you have your policy re-quoted at least once a year, as companies are constantly updating their rates based on new data.

Estimates show that traffic delays cost the average Chicago commuter over $1,100 a year. Because the highway system is so unpredictable, most commuters plan for extra time every day to account for possible delays. For real time traffic conditions the Department of Transportation has a map showing current congestion spots. Traffic conditions and frequent delays result in an average of 51 hours of delay per commuter.

Minimum required coverage

  • Chicago’s mandatory minimum coverage for bodily injury or death of one person in an accident is $20,000.
  • The mandatory minimum coverage for bodily injury or death of more than one person in an accident is $40,000.
  • For property damage liability, the minimum is $15,000.

The minimum coverage may be all the law requires, but one of the biggest contributors to Chicago’s increased auto insurance premiums is the rate of uninsured motorists, which is more than 15% statewide. This can put you at risk for more than what is covered by just liability. Car repairs and towing can quickly wipe out your savings, so consider adding these options for
the best cheap car insurance Chicago can provide.

  • Collision
  • Towing and labor
  • Comprehensive
  • Rental reimbursement
  • Uninsured motorist bodily injury

Car Quote

Motorcycle Insurance

Chicago can be a great place to ride a motorcycle, but traffic congestion also makes it dangerous. Increased risk of accident could mean higher insurance rates. Smart customers take a look at all the options for cheap motorcycle insurance Chicago has available. Whether you’re choosing your motorcycle so you can zip through traffic, or you just enjoy the thrill, make sure you learn about local regulations. Especially if you’re a courier, and use your motorcycle, moped, or scooter for work. Some companies will charge higher premiums for that. But you can often write it off on your taxes, so make sure to check!

 

Minimum Motorcycle Coverage

The same requirements apply to both car and motorcycle insurance. You might be a recreational rider, or you might use your bike for your commute. Either way, here are the minimum coverages required by law:

  • $25,000 of coverage for bodily injury (BI) or death of one person.
  • $50,000 of BI or death coverage for multiple people in an accident.
  • $25,000 of coverage for damage to another person’s property.

Tips to help you lower your motorcycle insurance rates

 

  • Certificates for attending safety classes will lower your rates.
  • Combining more than one motorcycle on the same insurance policy gets you a discount.
  • Combing your motorcycle policy with your auto or home policy will get you a bundle discount.
  • The longer you’ve been riding, the cheaper your rates get!
  • Some riding clubs will make you eligible for policy discounts.

If you have any questions, or just want to see if you’re overpaying, take a few minutes to look at your options. Thousands of Chicago residents have already received dozens of competing offers.

Cycle Quote

 

Homeowners Insurance

 

Home prices in Chicago are some of the highest in the nation. Whether it’s a skyline condo, or a brownstone, living in the city can be expensive.  The average monthly rate for homeowners insurance in Chicago is over $100/month, depending on what part of the city you live in and how expensive your home is. Smart consumers search for all the cheap homeowners insurance Chicago companies offer.

Chicago is known for it’s amazing architecture. From its museums and skyscrapers to its homes, Chicago has tons of unique buildings. Maybe you live in a newly-built condo, or one of the city’s many historical houses, chances are you need to know your insurance options.

Your typically homeowners policy covers the following:

  • Physical Damage to your home or other permanent structures on your property.
  • Personal property coverage, including your appliances, jewelry, and furniture. Even clothing is covered!
    • When you start your policy make sure to video tape the inside of your home (after you’re done moving). This creates a record of your property in case of a total loss.
  • Personal Liability covers you in the event of a lawsuit due to an accident or injury on your property.
    • This is why owning a pool or certain breeds of dogs can raise your rates. It increases the odds of injury.
  • Loss of use coverage will reimburse you if you have to rent another home, apartment, or even hotel while your house is undergoing repairs or reconstruction.

 

 

Available discounts for your homeowners policy

 

You could be shocked to learn what discounts are available. Sometimes you have to do some research, but doing the work can lower your rates by hundreds of dollars a year.

  • Alarm systems can lower your monthly rates. The smarter the better, so take a look at the latest technology!
  • Sprinkler systems aren’t required in every state, but can give you a significant discount on your policy.
  • Bundling your HO policy with your auto or personal liability policy can get you a discount.
  • Close proximity to a fire station lowers your rates.
  • Raising your deductible can lower your monthly or annual bill.
  • If you’re changing companies, make sure it’s with one that will give you credit for your prior policy.

Take a few minutes to compare your options for homeowners insurance in Chicago.

Home Quote

 

Health Insurance

 

It seems like you can’t go anywhere without hearing about health insurance. It’s one of the nation’s largest industries, with tons of lobbying power and tons of profit. And each year the cost for care goes up. Whether it’s due to rising drug costs, or new innovated treatments, the money is there. Unfortunately this means it’s more and more important to make sure you know and understand your health insurance policy. Having one is a necessity, even if it’s just to cover you for catastrophic care.

 

Every city is different, but in Chicago the average cost of an inpatient hospital stay is over $2,000 each day! Unless you have a lot of money saved, this could mean bankruptcy! Chicago has some of the best doctors and hospitals in the world, but make sure you’re probably covered before giving them a visit.

What types of health insurance are available?

 

There are too many health insurance options to list. Chicago has 2.7 million residents, dozens of hospitals, and almost 20,000 doctors in the state! Over 90% of Chicago residents carry some type of health insurance policy. Some people get it through their employer and others pay out of pocket. Either way, it’s important to know and understand the type of plans available. The two main types of health insurance are:

  • HMO policies: These policies are typically cheaper, but generally require a patient to go to specific health care providers in the HMO “network.” This can limit your options, but your deductible or out-of-pocket cost is a lot lower.
  • PPO policies: These policies give you more flexibility when choosing your doctor or hospital. This flexibility generally means a higher annual or monthly health insurance premium.

The best way to find the coverage you need is to speak to a professional. You can start by filling out an online quote. This will send your information to an insurance professional who can take a look at your details and recommend the right policy or coverage. It only takes about 15 minutes to get a quote, which can mean a difference of hundreds of dollars per month.

 

Health Quote

 

Life Insurance

Almost half of Americans don’t carry life insurance. And no wonder! It’s a hard thing to think about. Life insurance conjures images of death and tragedy. But that’s really what all insurance is about. Protecting you and your loved ones from the worst. Most policies are about making you whole in case something happens. Life insurance is about making your family whole.  Not carrying life insurance put your family at risk. Especially if you are the primary income earner. If you think about life insurance in terms of security for your family it becomes an investment in your future, rather than a financial burden.

 

Some facts about life insurance

 

  • Life insurance is about planning for the future of you spouse or children, or any other beneficiary.
  • Policies can pay out to cover medical bills, funeral expenses, mortgage payoffs, or any other living expenses for those you leave behind.
  • It can even be used to provide a cash value you can or borrow against later, or even cash out if you need to!
  • Life insurance is a contract between you and the insurance company. They are taking a bet that you will life a long and healthy life, and you probably will! This is what makes it profitable for the insurer. Most people live to a ripe old age. Then any collected premiums become profit for the insurance company!

There are a few basic types of life insurance:

 

  • Term life insurance and whole life insurance are two different policies with different requirements. Some people choose term life insurance because they only pay a certain amount each month for a set period of time. For example, you may pay $40 a month for a $300,000 policy over twenty years. But when that 20 years is up, you have to then go back to the market and find another policy, if you choose to. But the older you get the more the coverage costs. Insuring a young, twenty-year-old is far less riskier for the insurance company than someone over sixty. It may sound harsh, but it’s basic math. Insurance companies have to charge more the older you get, in order to cover all the claims they’ve agreed to.
  • Permanent life insurance can provide coverage for your entire life. Depending on the type of coverage or company, it can range from coverage until a certain age (100 years in some cases) or for your entire life! These policies cost more, but provide payouts no matter when it comes into effect.

Don’t be one of the 40% of Americans who think life insurance is too expensive. A bit of time and effort on your part and you can find all the many quotes for cheap life insurance Illinois residents like you are already purchasing.

Life Quote

 

Renters Insurance

 

This is probably the most overlooked type of insurance in Chicago, but also one of the most valuable. More and more rental companies and landlords are requiring it. But even if yours doesn’t, it pays to be covered. Without renter’s insurance your personal belongings aren’t covered if something should happen to your dwelling. All of those computers, cameras, jewelry, electronics, and even clothes! If the worst should happen you don’t want to be facing replacement costs for all of your property. Instead you could just get a nice check from your insurance company and start over!

What’s the best thing about renters insurance? It’s cheap! Most coverage costs around $25 per month and can cover tens of thousands of dollars worth of property. Combining it with your existing car or motorcycle insurance can even get you discounts. Some customers pay less total insurance premium when they add a renter’s policy!

Take a few minutes to consider the cheap renters insurance Illinois has to offer. More and more insurance companies are providing this coverage. Sometimes the discount you receive on your auto policy more than makes up for the monthly renters insurance payment.

 

Renters Quote