To buy a new car today, prepare yourself to spend an average of $36,720. Expensive, right?
What’s more, that amount represents a whopping 4% increase from the average back in January 2017.
All of these show us how expensive car ownership has become.
But let’s face it. Many of us can’t imagine a life without a motor vehicle. Especially for a good portion of the 128 million Americans who commute to their workplaces every day.
The good news is, owning and operating a car doesn’t have to be as expensive. One area worthy of exploring for money-saving opportunities is your auto insurance policy.
A brief intro to car insurance laws in Illinois
First things first: The State of Illinois implements a “mandatory insurance law.” That means all registered motorists need to have auto insurance. That doesn’t mean you can’t save money on your policy though.
A good way to cut back on your costs is to ensure you have at least the minimum required coverage. That includes a $25,000 minimum for injury/death per person and a $50,000 minimum for all injuries/deaths in an accident you may cause. There’s also a $20,000 minimum coverage for potential property damages.
It’s much better to have at least these minimums than to have no insurance at all. Keep in mind that driving without vehicle auto insurance in IL, including in Cicero, can mean facing a fine of no less than $500.
Shop around and compare quotes
Don’t ever underestimate the power of online car insurance comparison tools. It’s one of the fastest and easiest ways to find offers that will suit your coverage needs and budget.
Besides, you’d only need to provide some basic details, such as your zip code, to get a quote. That’ll only take seconds, but it may already be your ticket to securing a policy for as low as $23 a month.
Don’t forget vehicle insurance discounts
If you take your time shopping around, you may discover insurance discounts that can save you even more money. For instance, some insurers give drivers with stellar driving histories a discount for their squeaky-clean records. If you’re a student and you’re doing a good job in school, you may also qualify for a “Good Student” discount.
The bottom line is, you should explore your options when it comes to car insurance. It doesn’t have to be more expensive, as long as you follow the above-mentioned tips.