Who Has the Cheapest Car Insurance Quotes in Chicago IL?
People who live in the area are always asking where they can find the cheapest insurance premiums in Chicago IL. We recently performed a comprehensive study that examined the difference in car insurance premiums from a variety of neighborhoods. What we discovered was that Unique offered the best rates in Chicago. They handed out an average annual rate of $720. This was a whopping 59% lower than the city's average of $1765 per year.
The fact of the matter is that there are a large variety of factors that determine how car insurance companies set a driver's rates or premiums. It is a complex system so not every factor will be weighed the same. This is precisely the reason why it is so important to visit as many automobile insurers as you can to compare and contrast prices. At minimum, we would recommend that you visit at least three insurers in the Chicago IL region to get an adequate understanding of your options.
Continue reading on to learn more about car insurance in Chicago Illinois. Entering your zip code will make finding the best prices a lot easier.
What's the average cost of car insurance in Chicago IL?
Car Insurance Costs: Chicago vs. Illinois vs. National Averages
Chicago has low-cost car insurance premiums that are below the state's average. It costs $223 less per year than Illinois's average. While this may come as a relief, it isn't a reason to become complacent. Taking advantage of lower costs is still an important practice even in Chicago. You can go over some of our tips below to improve your savings.
Finding the Cheapest Car Insurance Companies in Chicago IL in Your Neighborhood
It's a sensible thing to ask yourself where you can find the best car insurance rates across the entire Chicago area. It's also a good practice to compare what you pay to the state average. The average annual cost of car insurance in Chicago IL is $1765. But there can be a lot of leeway in this. Rates can have a difference of up to $1400 per year from the least to the most expensive companies.
Unique is the insurer that offered the cheapest quote at $720 a year. This is 66% cheaper than Hanover, the company we found to be the most expensive in Chicago. Other good options to be chosen in Chicago IL were Lighthouse and Farmers. Knowing just how different rates can be is a great incentive to get you to start saving on your rates.
How to Save on Car Insurance in Chicago?
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Chicago Car Insurance Rates by ZIP Code
Just as which state you live in impacts your insurance rates, so too does the specific area you live in Chicago. This is because many factors such as theft, uninsured drivers and other kinds of crime are taken into account and measured based on zip code. If you happen to live in a region where accidents or DUIs are more likely to happen, your insurers could see you as a potentially higher risk. And as we all know, higher risk means higher prices.
In this regard, Chicago is unfortunately no different. These are the five least and most pricey ZIP codes for car insurance in Chicago IL.
The zip codes 60657 and 60636 have a rising difference of premiums by 53%, or a whopping $584.
Chicago Car Insurance Rates by Gender and Marital Status
Your gender and your marital status are two of the several characteristics that have an influence on your car insurance rates in Chicago. This is simply due to the fact that insurance is based off of liability and risk. People who are single and/or are male are considered bigger risk factors because they are the groups more likely to either get into accidents or commit felonies. As a result, being single can cost up to $160 more per year compared to being married, and being a man can typically cost up to $879 more per year in Chicago IL as opposed to being a woman.
Chicago Teenagers Car Insurance Rates
Younger and inexperienced drivers pay the most in car insurance rates by far, and Chicago IL is no exception to that rule. Due to the risk associated with drivers lacking experience, teenagers tend to pay $3769 a year for insurance on average. This is far higher than the state average of $1322, and $2670 higher than Chicago' average. When gender is taken into account the difference between male and female teens in Chicago IL is $649.
The effect of DUIs on insurance premiums in Chicago IL
Having a criminal record can have a very negative impact on your insurance. For example, if you are caught driving under the influence in Chicago then your car insurance premium will increase much more than for other violations. Being convicted of an alcohol-related offense can increase your insurance costs from $1099 all the way up to $2044. That means that on average the cost for conviction in Chicago IL can be an increase of $945.
Minimum Insurance Requirements in Chicago IL
Chicago drivers need to have the state mandated liability insurance plan just like all vehicle owners in the state of Illinois. The minimum is listed as 25/50/20. Here's an explanation on this rule:
The "25" in 25/50/20 means that you are the one responsible for any incident which has caused bodily harm to another person. That means you are eligible for up to $25,000 of medical expenses for one other person injured by you.
The "50" in 25/50/20 means that if several people were injured in an accident that you were the cause of then up to $50,000 will be allotted to the injured people in question.
Finally, the "20" in 25/50/20 means that if you damage another person's car or property then a maximum of $20,000 will be handed out.
Please always remember that these values are state-required minimums. If you are considered at fault for an accident where expenses exceed these costs then you will have to pay out of pocket. Paying for more expensive and higher coverage limits on your auto insurance – for example, 150/300/100 – can help avoid this.
Find cheap car insurance in Chicago quickly and easily
Find Local Chicago Agents
McManus Serra & Klein Insurance Brokers
111 W Jackson Blvd, Chicago, IL 60604
Williams Insurance Agency
411 S Wells St Ste 600, Chicago, IL 60607
19 S La Salle St Ste 500, Chicago, IL 60603
Chicago in Brief
the average Chicago resident's annual cost of coverage
our customer's average savings after comparing insurance
offers the most affordable rates, based on our analysis
Zip Codes We Serve
60007, 60018, 60106, 60131, 60176, 60290, 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60608, 60609, 60610, 60611, 60612, 60613, 60614, 60615, 60616, 60617, 60618, 60619, 60620, 60621, 60622, 60623, 60624, 60625, 60626, 60628, 60629, 60630, 60631, 60632, 60633, 60634, 60636, 60637, 60638, 60639, 60640, 60641, 60642, 60643, 60644, 60645, 60646, 60647, 60649, 60651, 60652, 60653, 60654, 60655, 60656, 60657, 60659, 60660, 60661, 60664, 60666, 60668, 60669, 60670, 60673, 60674, 60675, 60677, 60678, 60680, 60681, 60684, 60685, 60686, 60687, 60688, 60689, 60690, 60691, 60693, 60694, 60695, 60696, 60697, 60699, 60701, 60706, 60707, 60803, 60804, 60827
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