For financially responsible drivers, one of the more important criteria that are looked at to determine the cost of insurance is where you keep your vehicle in Chicago. Larger areas likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.
The information below lists the highest-priced places in Illinois for drivers with good credit to purchase car insurance in. Chicago is ranked #2 with a yearly premium of $1,529 for the average insured, which is around $127 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Cicero | $1,573 |
| 2 | Chicago | $1,529 |
| 3 | Berwyn | $1,449 |
| 4 | Skokie | $1,447 |
| 5 | Des Plaines | $1,274 |
| 6 | Oak Lawn | $1,231 |
| 7 | Evanston | $1,226 |
| 8 | Mount Prospect | $1,181 |
| 9 | Joliet | $1,180 |
| 10 | Waukegan | $1,176 |
| 11 | Schaumburg | $1,169 |
| 12 | Bolingbrook | $1,162 |
| 13 | Palatine | $1,155 |
| 14 | Tinley Park | $1,154 |
| 15 | Rockford | $1,153 |
| 16 | Orland Park | $1,138 |
| 17 | Elgin | $1,117 |
| 18 | Arlington Heights | $1,095 |
| 19 | Peoria | $1,082 |
| 20 | Aurora | $1,053 |
| 21 | Naperville | $1,053 |
| 22 | Springfield | $1,028 |
| 23 | Decatur | $1,024 |
| 24 | Bloomington | $971 |
| 25 | Champaign | $942 |
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Table data uses comparative as the specific area where the vehicle is garaged can increase or decrease premiums greatly.
Deciding which companies quote the cheapest insurance rates for drivers with good credit will involve a bit more work in order to find the best policy. Every insurance company uses a slightly different approach for determining rates, so let's take a look at the insurance companies with the most affordable rates in Chicago.
It's important that you understand Chicago, IL insurance rates are calculated based on many things that will increase or decrease the policy price. Simply turning a year older, buying a home, or getting caught speeding can trigger price changes that can cause some rates to be much cheaper than others.
Best Cheap Insurance Rates for High Credit
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $753 |
| 2 | Rockford Mutual | $847 |
| 3 | Titan | $878 |
| 4 | Cincinnati Insurance | $888 |
| 5 | Erie | $905 |
| 6 | Utica National | $955 |
| 7 | Travelers | $961 |
| 8 | SECURA | $965 |
| 9 | USAA | $988 |
| 10 | State Farm | $1,002 |
| 11 | Auto-Owners | $1,064 |
| 12 | Safeco | $1,085 |
| 13 | Amica | $1,087 |
| 14 | GEICO | $1,118 |
| 15 | Farmers | $1,135 |
| 16 | California Casualty | $1,173 |
| 17 | Esurance | $1,233 |
| 18 | Progressive | $1,256 |
| 19 | MetLife | $1,257 |
| 20 | State Auto | $1,260 |
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The Hartford may have some of the lowest car insurance rates in Chicago at around $753 annually. This is $596 less than the average policy premium paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Cincinnati Insurance, and Erie would also make the list of some of the more affordable Chicago, IL car insurance companies.
In the above example, if you buy coverage from Titan and switched to The Hartford, you could see yearly savings of approximately $125. Customers with Cincinnati Insurance may save as much as $135 a year, and Erie insureds might reduce rates by $152 a year.
Remember that these rates are averages across all drivers and vehicles and and are not figured with an exact location for drivers with good credit. So the company that can offer you the best rate may not even be in the top 36 companies in the list above. That helps illustrate why you need to get rate quotes using your own individual information.
Insuring your vehicle with the best company can be challenging considering how many different companies there are to choose from in Illinois. The ranking information displayed below may help you analyze which coverage providers you want to consider when trying to find the cheapest insurance for drivers with good credit. These ratings are only comprised of large insurance companies, so companies that focus mainly on Illinois business are not factored into this list.
Top 10 Large Auto Insurance Companies in Chicago Ranked by A.M. Best Rating
- USAA - A++
- GEICO - A++
- Travelers - A++
- State Farm - A++
- Titan Insurance - A+
- Progressive - A+
- Erie Insurance - A+
- Mercury Insurance - A+
- The Hartford - A+
- Nationwide - A+
Top 10 Large Auto Insurance Companies in Chicago Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- Allstate
- 21st Century
- Travelers
The information below illustrates how your deductible choice can impact premium costs when searching for cheap insurance for drivers with good credit. The price estimates are based on a married male driver, full physical damage coverage, and no additional discounts are factored in.
A 50-year-old driver could lower their policy premium by $182 a year by increasing from a $100 deductible up to a $500 deductible, or save $276 by changing to a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could shave up to $604 each year just by choosing larger deductibles. When choosing a higher deductible, it is important to have plenty of money set aside to satisfy the extra out-of-pocket expense that is associated with using high deductibles.
How to find the cheapest insurance for drivers with good credit
The list below details a few money-saving solutions that can help Illinois drivers locate cheaper auto insurance.
- Save money by insuring older vehicles for liability only
- Drive safe vehicles
- Avoid having at-fault accidents
- Do not get traffic violations
- Bundle car and home insurance and save money
- Try to not file small claims
- Compare rates regularly to ensure the best deal
The last item on the list is remarkably important, as we pointed out in this piece. Rates can change considerably in a year, so you should be ready to buy a policy from a new company if you find a cheaper price. Having a favorite company is fine, but it's not a good idea if that loyalty results in overpaying thousands of dollars over the life of your policy. Now is a great time to shop around to find cheaper car insurance for drivers with good credit in Chicago.