Finding low-priced auto insurance is not easy, and deciding which company has the cheapest insurance rates in Chicago will involve even more rate comparisons. Each insurance company has their own guidelines to establish rates, so let's begin by taking a look at the overall cheapest insurance companies in Chicago.
It's important to understand that Chicago insurance rates are impacted by many factors that may substantially change the price you have to pay. Simply having a birthday, buying a different vehicle, or getting into an accident may cause policy rate changes that may make certain companies much higher than others.
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $746 |
| 2 | Rockford Mutual | $847 |
| 3 | Titan | $852 |
| 4 | Erie | $905 |
| 5 | Cincinnati Insurance | $915 |
| 6 | Utica National | $946 |
| 7 | USAA | $979 |
| 8 | Travelers | $990 |
| 9 | State Farm | $1,002 |
| 10 | SECURA | $1,005 |
| 11 | Auto-Owners | $1,022 |
| 12 | Safeco | $1,053 |
| 13 | GEICO | $1,074 |
| 14 | Amica | $1,120 |
| 15 | Farmers | $1,135 |
| 16 | California Casualty | $1,197 |
| 17 | MetLife | $1,207 |
| 18 | Esurance | $1,221 |
| 19 | State Auto | $1,223 |
| 20 | Progressive | $1,243 |
| Quote Your Rates Go | ||
The Hartford quotes some of the lowest car insurance rates in Chicago at around $746 annually. Rockford Mutual, Titan, Erie, and Cincinnati Insurance would also make the list of some of the most economical Chicago, IL auto insurance companies.
As illustrated above, if you currently have coverage with Erie and switched to Rockford Mutual, you could see annual savings of roughly $58. Insureds with Cincinnati Insurance could save as much as $68 a year, and Utica National policyholders might lower prices by $99 a year.
Bear in mind that those estimates are averaged for all drivers and vehicles and are not factoring in a specific location in Chicago. So the company that fits your needs best may not even be in the top 36 companies in the list above. That helps illustrate why you need to get car insurance quotes using your own individual information.
For drivers in Chicago, one of the more important factors that are used to help calculate the cost of insurance is where your car is garaged. Areas with a lot of weather claims or more people tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims profit from lower rates.
The following table rates the most expensive places in Illinois to purchase auto insurance in. Chicago makes the list at #2 with the annual price of $1,529 for the average insurance policy, which is about $127 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Cicero | $1,588 |
| 2 | Chicago | $1,529 |
| 3 | Berwyn | $1,449 |
| 4 | Skokie | $1,433 |
| 5 | Des Plaines | $1,274 |
| 6 | Evanston | $1,264 |
| 7 | Oak Lawn | $1,243 |
| 8 | Joliet | $1,180 |
| 9 | Waukegan | $1,176 |
| 10 | Orland Park | $1,173 |
| 11 | Schaumburg | $1,169 |
| 12 | Mount Prospect | $1,169 |
| 13 | Tinley Park | $1,166 |
| 14 | Bolingbrook | $1,162 |
| 15 | Palatine | $1,155 |
| 16 | Rockford | $1,119 |
| 17 | Elgin | $1,117 |
| 18 | Arlington Heights | $1,095 |
| 19 | Peoria | $1,082 |
| 20 | Springfield | $1,070 |
| 21 | Decatur | $1,044 |
| 22 | Aurora | $1,043 |
| 23 | Naperville | $1,042 |
| 24 | Champaign | $971 |
| 25 | Bloomington | $942 |
| Find Cheaper Insurance Go | ||
Premium amounts are estimated as specific Chicago zip code can impact coverage prices noticeably.
The type of vehicle needing coverage is one of the main factors when trying to find the most economical insurance in Chicago. Vehicles with lots of horsepower, poor safety features, or high incidents of liability claims will cost more to insure than more modest models. The data below shows car insurance costs for some of the most economical automobiles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,888 |
| Honda Accord LX-P 4-Dr Sedan | $2,163 |
| Ford Focus S 4-Dr Sedan | $2,191 |
| Honda CR-V EX-L 4WD | $2,213 |
| Jeep Grand Cherokee Laredo 2WD | $2,235 |
| Chevrolet Malibu LS | $2,243 |
| Ford F-150 Lariat Crew Cab 4WD | $2,278 |
| Nissan Altima 2.5 S 4-Dr Sedan | $2,353 |
| Honda Odyssey EX-L | $2,359 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $2,397 |
| Nissan Rogue SL 2WD | $2,400 |
| Jeep Wrangler Sahara 4WD 2-Dr | $2,428 |
| Dodge Ram Quad Cab SLT 4WD | $2,444 |
| Compare Rates Now Go | |
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 claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Estimates do not factor in specific location information which can alter price quotes greatly.
Looking at the data, we can conclude that vehicles like the Ford Escape, Honda Accord, and Ford Focus are going to be some of the most affordable vehicles to insure for drivers in Chicago.
Discounts on Chicago insurance
Insurance companies that offer quotes in Chicago may also offer price discounts that may potentially lower prices by 40% or more if you meet eligibility requirements. Large insurance companies and some of the premium reductions they offer are included below.
- State Farm has discounts for safe vehicle, good student, multiple autos, accident-free, anti-theft, Steer Clear safe driver discount, and driver's education.
- Progressive policyholders can earn discounts including good student, online signing, multi-policy, online quote discount, and homeowner.
- Progressive may offer discounts for good student, multi-vehicle, online signing, homeowner, multi-policy, continuous coverage, and online quote discount.
- MetLife may include discounts for good student, multi-policy, good driver, claim-free, accident-free, and defensive driver.
- Farm Bureau offers discounts including safe driver, good student, multi-policy, youthful driver, 55 and retired, renewal discount, and driver training.
- GEICO has savings for anti-theft, daytime running lights, driver training, emergency military deployment, federal employee, and air bags.
- SAFECO offers premium reductions for multi-car, homeowner, drive less, anti-theft, teen safety rewards, accident prevention training, and bundle discounts.
The illustration below shows the comparison of annual premium costs with and without some available policy discounts. Data assumes a female driver, no driving violations, no at-fault accidents, Illinois state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with homeowner, accident-free, anti-theft, vehicle safety, multiple vehicle, and claim-free discounts applied. With discounts applied, theaverage amount saved on insurance in Chicago is 28% or $436.
If you have coverage questions and would like to have a professional recommendation when shopping for cheaper insurance for drivers in Chicago, the professional agents shown below can most likely aid you in deciding which insurance coverage will be best for you. To find an agent near you, click the link after the list or click here to compare price quotes.
Neal Gallo - State Farm Insurance Agent
6666 N Western Ave - Chicago, IL 60645 - (773) 743-6565
Northwest Insurance Network
330 S Wells St #1600 - Chicago, IL 60606 - (312) 427-1777
Angela Roudez - State Farm Insurance Agent
1505 S State St - Chicago, IL 60605 - (312) 663-1820
Roni Siegel - State Farm Insurance Agent
860 N Clark St - Chicago, IL 60610 - (312) 751-0500
Vivian Valtas - State Farm Insurance Agent
6108 S Archer Ave - Chicago, IL 60638 - (773) 582-3322
More insurance agents in Chicago, IL
How to find more affordable car insurance in Chicago
Here are some of the better thrifty suggestions that can help you find more affordable car insurance.
- Better credit rating means better rates
- Increase your comprehensive and collision deductibles
- Try to remain claim-free
- At-fault accidents can raise rates significantly
- Speeding tickets and other violations increase rates
- Buying your home and auto policies from the same company can earn a discount
- Compare prices as often as possible
That last piece of advice is particularly valuable, as was pointed out in the article above. Auto insurance rates fluctuate constantly, so drivers shouldn't be reluctant to buy from a new company if a cheaper rate is available.
Having brand loyalty is commendable, but it isn't a good idea if your bullheadedness ends up costing you a small fortune year after year. It takes less than five minutes to shop around and find cheaper insurance in Chicago in Chicago.