The words "low-cost" and "auto insurance" probably shouldn't be used in the same sentence, especially when looking for the cheapest coverage for Uber drivers. Let's learn about some things that have a considerable impact on car insurance prices, and see if we can help you take the sting out of the next policy you buy.
The type of vehicle requiring coverage is a large factor that determines if you can find the best cheap car insurance for Uber drivers. Vehicles with lots of horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than more modest models.
The next list outlines insurance costs for some of the most cost-effective vehicles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $2,031 |
| Honda CR-V EX 2WD | $2,036 |
| Jeep Wrangler Sport 4WD 2-Dr | $2,101 |
| Honda Accord LX 4-Dr Sedan | $2,224 |
| Toyota Prius | $2,253 |
| Chevrolet Impala LS | $2,362 |
| Chevrolet Malibu Hybrid | $2,407 |
| Ford F-150 SVT Raptor Super Cab 4WD | $2,452 |
| Honda Civic LX 4-Dr Sedan | $2,490 |
| Dodge Grand Caravan SE | $2,497 |
| Ford Focus SEL 4-Dr Sedan | $2,490 |
| Toyota Corolla S | $2,535 |
| Ford Edge SEL AWD | $2,580 |
| Get a Custom Quote Go | |
Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Information does not factor in vehicle garaging location which can decrease or increase premium rates significantly.
Looking at the data, we can conclude that models like the Ford Escape, Honda CR-V, Jeep Wrangler, and Honda Accord will definitely be some of the most budget-friendly vehicles to insure for Uber vehicles.
For Uber vehicles, one of the largest criteria that are looked at to determine the price you pay for insurance is where you keep your car. Cities with more crime and/or more people tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims have the luxury of cheap car insurance rates.
The following table rates the priciest cities in Illinois for Uber drivers to purchase car insurance in. Chicago shows up at #2 with the annual price of $1,484 for car insurance, which is about $124 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Cicero | $1,541 |
| 2 | Chicago | $1,484 |
| 3 | Berwyn | $1,464 |
| 4 | Skokie | $1,433 |
| 5 | Des Plaines | $1,286 |
| 6 | Oak Lawn | $1,269 |
| 7 | Evanston | $1,226 |
| 8 | Mount Prospect | $1,217 |
| 9 | Waukegan | $1,212 |
| 10 | Joliet | $1,180 |
| 11 | Orland Park | $1,173 |
| 12 | Tinley Park | $1,166 |
| 13 | Elgin | $1,151 |
| 14 | Rockford | $1,141 |
| 15 | Arlington Heights | $1,139 |
| 16 | Bolingbrook | $1,128 |
| 17 | Schaumburg | $1,123 |
| 18 | Palatine | $1,121 |
| 19 | Aurora | $1,075 |
| 20 | Peoria | $1,060 |
| 21 | Naperville | $1,053 |
| 22 | Springfield | $1,028 |
| 23 | Decatur | $1,013 |
| 24 | Bloomington | $980 |
| 25 | Champaign | $933 |
| Quote Best Rates Go | ||
Rate quotes are approximated as the specific garaging location can impact premiums significantly.
Deciding which insurers offer the best auto insurance rates for Uber drivers will take more work than just getting one or two price quotes. Each auto insurance company uses their own formula to establish rates, so let's take a look at the auto insurance companies with the overall cheapest rates in Illinois.
It's important that you understand Illinois auto insurance rates are determined by lots of factors which can substantially decrease or increase the policy premium. Getting older, moving to a new city, or getting a couple of tickets can produce rate changes resulting in some rates now being cheaper than before.
Best Car Insurance Prices for Your Uber Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $769 |
| 2 | Rockford Mutual | $847 |
| 3 | Erie | $878 |
| 4 | Titan | $878 |
| 5 | Cincinnati Insurance | $888 |
| 6 | USAA | $950 |
| 7 | Travelers | $952 |
| 8 | State Farm | $972 |
| 9 | Utica National | $984 |
| 10 | SECURA | $1,005 |
| 11 | Auto-Owners | $1,022 |
| 12 | Safeco | $1,063 |
| 13 | GEICO | $1,074 |
| 14 | Amica | $1,120 |
| 15 | Farmers | $1,170 |
| 16 | California Casualty | $1,209 |
| 17 | Esurance | $1,221 |
| 18 | MetLife | $1,244 |
| 19 | Progressive | $1,256 |
| 20 | State Auto | $1,260 |
| Find Your Rate Go | ||
The Hartford has some of the best car insurance rates in Chicago at around $769 a year. Rockford Mutual, Erie, Titan, and Cincinnati Insurance also qualify as some of the most economical Chicago, IL car insurance companies.
In this example, if you currently have coverage with Cincinnati Insurance and switched to Rockford Mutual, you may realize annual savings of in the neighborhood of $41. Drivers with USAA may save as much as $103 a year, and Travelers policyholders might reduce prices by as much as $105 a year.
Remember that these rates are averaged across all drivers and vehicles in Illinois and do not factor in a vehicle location for Uber drivers. So the company that fits your needs best may not even be in the top 36 companies in the list above. That underscores the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.
Discounts on Chicago insurance
Insurers that offer coverage for Uber drivers may also offer price discounts that could lower prices by as much as 30% if you qualify for them. Popular auto insurance companies and their possible discounts are detailed below.
- GEICO offers premium reductions for military active duty, daytime running lights, air bags, driver training, defensive driver, and federal employee.
- MetLife may include discounts for good driver, good student, claim-free, defensive driver, multi-policy, and accident-free.
- State Farm has discounts for anti-theft, student away at school, defensive driving training, good driver, and Steer Clear safe driver discount.
- Progressive has savings for good student, online quote discount, online signing, multi-policy, multi-vehicle, homeowner, and continuous coverage.
- Mercury Insurance offers discounts for anti-theft, multi-policy, ease of repair, good student, and professional/association.
- 21st Century may have discounts that include 55 and older, good student, homeowners, automatic seat belts, theft prevention, and anti-lock brakes.
- Allstate may offer discounts for anti-theft, good payer, EZ pay plan discount, auto/life discount, and early signing.
The illustration below illustrates the difference between insurance prices with and without discounts being applied to the rates. The information is based on a female driver, no violations or claims, Illinois state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with accident-free, multiple policy, passive restraint, multiple vehicle, anti-theft, and defensive driving course discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on auto insurance for Uber drivers is 27% or $359.
Picking a good quality insurer can be challenging considering how many companies sell insurance in Illinois. The ranking data shown next may help you decide which auto insurers you want to consider when shopping car insurance rates for Uber drivers.
These rankings include companies with a national presence, so companies that may only write in Illinois are not factored into the list. If you'd like to compare prices from these and other top-rated companies, click this link.
Top 10 Major Auto Insurance Companies in Chicago Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- Allstate
- 21st Century
- Travelers
Top 10 Major 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+
How to find cheaper insurance for Uber drivers
It's not impossible to find cheaper rates, and here are some of the recommended thrifty ideas that can help you find low-cost auto insurance.
- Do not get into accidents that are your fault
- Good credit scores may make rates cheaper
- Do not get tickets or violations
- Increase physical damage deductibles
- Drive safe vehicles
- Shop your coverage around for the best deal
The final tip is extremely crucial, as we pointed out in the prior article. Prices charged by car insurance companies in Chicago can change considerably based on profitability, so you should be ready to switch carriers if you find a better deal.
Many consumers stick with the same company and that's fine, but it's not a good idea if that faithfulness ends up costing you hundreds of dollars year after year. If you have a few minutes, now is a great time to shop around and find cheaper auto insurance for Uber drivers.