Wouldn't it be great if we could tell you instantly the one company that has the lowest car insurance rates for high mileage drivers? It's not that simple, unfortunately, as there are many unknowns such as what coverage limits you need, the area you live in, and the annual mileage you drive, that all go into determining the rate you pay. This article should teach you a little about these things and will hopefully give you a good beginning to your search for cheaper coverage.
For high mileage drivers, one of the big components that aid in calculating car insurance rates is where you normally keep your vehicle. Cities with larger populations are more likely to pay higher prices, whereas areas with less crime or weather claims have the gratification of cheaper auto insurance rates.
The following table rates the most expensive areas in Illinois for high mileage drivers to purchase auto insurance in. Chicago shows up at #2 with the yearly price of $1,529 for coverage, which is around $127 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Cicero | $1,573 |
| 2 | Chicago | $1,529 |
| 3 | Berwyn | $1,464 |
| 4 | Skokie | $1,433 |
| 5 | Oak Lawn | $1,243 |
| 6 | Des Plaines | $1,236 |
| 7 | Evanston | $1,226 |
| 8 | Waukegan | $1,224 |
| 9 | Mount Prospect | $1,205 |
| 10 | Joliet | $1,169 |
| 11 | Schaumburg | $1,157 |
| 12 | Rockford | $1,153 |
| 13 | Elgin | $1,139 |
| 14 | Arlington Heights | $1,139 |
| 15 | Orland Park | $1,138 |
| 16 | Tinley Park | $1,132 |
| 17 | Bolingbrook | $1,128 |
| 18 | Palatine | $1,109 |
| 19 | Peoria | $1,092 |
| 20 | Aurora | $1,075 |
| 21 | Springfield | $1,070 |
| 22 | Decatur | $1,044 |
| 23 | Naperville | $1,022 |
| 24 | Bloomington | $971 |
| 25 | Champaign | $942 |
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Annual rates are comparative as specific Chicago zip code can affect price quotes substantially.
Locating budget auto insurance is easier said than done, and deciding which companies offer the best insurance rates for high mileage drivers will involve more quotes for comparison. Every insurance provider uses a little different formula to set premium rates, so let's begin by examining the insurance companies with the most affordable rates in Illinois.
It's a good idea to be aware that Chicago insurance rates are impacted by many things which can substantially decrease or increase the policy price. This is why it is crucial to do a thorough rate comparison to get the most budget-friendly car insurance quotes for high mileage drivers. Prices consist of many factors and can decrease or increase without notice, so the most affordable company two years ago may now be one of the more expensive options.
Compare Cheap Insurance Quotes in Illinois
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $753 |
| 2 | Rockford Mutual | $813 |
| 3 | Titan | $878 |
| 4 | Cincinnati Insurance | $897 |
| 5 | Erie | $914 |
| 6 | Utica National | $955 |
| 7 | USAA | $959 |
| 8 | Travelers | $961 |
| 9 | State Farm | $1,002 |
| 10 | SECURA | $1,005 |
| 11 | Auto-Owners | $1,022 |
| 12 | GEICO | $1,085 |
| 13 | Amica | $1,087 |
| 14 | Safeco | $1,095 |
| 15 | Farmers | $1,146 |
| 16 | California Casualty | $1,173 |
| 17 | MetLife | $1,220 |
| 18 | State Auto | $1,223 |
| 19 | Esurance | $1,233 |
| 20 | Progressive | $1,256 |
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The Hartford has some of the best car insurance rates in Chicago at around $753 per year. This is $596 less than the average rate paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Cincinnati Insurance, and Erie also qualify as some of the cheaper Chicago, IL car insurance companies.
As depicted above, if you have coverage with Rockford Mutual and switched to The Hartford, you might realize savings of about $60. Policyholders with Titan could save as much as $125 a year, and Cincinnati Insurance insureds might cut rates by $144 a year.
Be aware that those prices are averaged across all types of drivers and the different vehicles they drive and and are not figured with a specific zip code for high mileage drivers. So the car insurance company that can offer you the best rate may not even be in the top 36 companies shown above. That point stresses why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.
The vehicle model that needs insurance is one of the main factors in finding the best insurance for high mileage drivers. Vehicles with economical engines, a plethora of safety features, or a low likelihood of liability claims will cost substantially less to insure than higher performance models.
The list below shows car insurance rates for some of the most economical vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $2,003 |
| Toyota Prius | $2,168 |
| Honda CR-V EX-L 2WD | $2,298 |
| Toyota Tacoma Double Cab 4WD | $2,365 |
| Chevrolet Malibu LT | $2,374 |
| Honda Civic VP 4-Dr Sedan | $2,397 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $2,400 |
| Chevrolet Impala LTZ | $2,441 |
| Ford F-150 XL Super Cab 2WD | $2,467 |
| Chevrolet Silverado 3500HD LTZ Crew Cab 2WD | $2,575 |
| Ford Focus SE 2-Dr Coupe | $2,610 |
| Hyundai Elantra SE Touring Station Wagon | $2,616 |
| Honda Accord EX-L 4-Dr Sedan | $2,621 |
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rate quotes do not factor in Chicago, IL location which can decrease or increase coverage prices significantly.
Looking at the numbers, we can conclude that models like the Ford Escape, Toyota Prius, Honda CR-V, and Toyota Tacoma will definitely be some of the cheapest vehicles to insure for high mileage drivers.
Full coverage or liability only
Saving money when shopping for insurance is the goal of the majority of people, and an effective way to pay less for insurance for high mileage drivers is to only buy liability coverage. The example below visualizes the comparison of premium costs with full coverage compared to only the Illinois minimum liability coverage. Data assumes no claims or driving violations, $500 deductibles, single status, and no discounts are applied.
Averaged for all age groups, comprehensive and collision coverage on your policy costs an additional $1,674 per year more than insuring for liability only. That is a large expense which might make you wonder if buying full coverage is worth the money. There is no clear-cut rule that works best for making the decision to drop full coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
There are some cases where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you are required to maintain full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Violations and accidents raise rates
The common sense way to maintain low insurance premiums for high mileage drivers is to pay attention while driving and avoid accidents and violations. The example below demonstrates how traffic citations and at-fault collisions increase premium costs for different insured age categories. The premiums are based on a married female driver, comp and collision included, $100 deductibles, and no discounts are factored in.
In the chart above, the average cost of an auto insurance policy per year with no accidents or violations is $1,543. Add in one speeding ticket and the average cost increases to $1,797, an increase of $253 each year. Then throw in one accident along with the one speeding ticket and the 12-month cost of insurance for high mileage drivers increases to an average of $2,523. That's an increase of $980, or $82 per month, just for not keeping your driving record clean!
Discounts on Chicago insurance
Insurance providers that offer quotes for high mileage drivers may have price discounts that can reduce rates by as much as 40% or more if you meet the requirements. A few popular companies and a summarized list of policyholder discounts are:
- State Farm has savings for accident-free, defensive driving training, good student, multiple policy, and safe vehicle.
- Nationwide includes discounts for anti-theft, defensive driving, business or organization, accident-free, Farm Bureau membership, good student, and family plan.
- GEICO may offer discounts for defensive driver, anti-theft, good student, driver training, military active duty, five-year accident-free, and air bags.
- AAA may have discounts that include multi-car, pay-in-full, multi-policy, education and occupation, AAA membership discount, good student, and anti-theft.
- 21st Century policyholders can earn discounts including air bags, anti-lock brakes, automatic seat belts, good student, and driver training.
- The Hartford offers premium reductions for defensive driver, driver training, anti-theft, good student, air bag, and vehicle fuel type.
The diagram below visualizes the comparison of premium costs with and without discounts being applied to the rates. Data assumes a female driver, no tickets, no at-fault accidents, Illinois state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with passive restraint, defensive driving course, multiple policy, safe-driver, homeowner, and multiple vehicle discounts applied. In this example, theaverage amount saved on insurance for high mileage drivers is 28% or $392.