Auto insurance in Chicago typically costs $1,134 annually, the same as the annual average in Illinois. The cheapest insurer is GEICO with an average rate of $789. To help you find a rate that fits your profile, MoneyGeek analyzed the cheapest companies by coverage amount and driving history. MoneyGeek also rated the best insurers that balance affordability and quality.
Compare the Cheapest Car Insurance Quotes in Chicago, IL
The Cheapest and Best Car Insurance in Chicago
The Cheapest Car Insurance Companies in Chicago
Based on average car insurance rates for a full coverage policy, the most affordable options in Chicago are:
- GEICO: $789 per year
- Mercury: $860 per year
In Chicago, GEICO offers the cheapest average annual rate at $789. In contrast, the most expensive average rate in the city comes from AAA — $1,669. These rates are subject to change, depending on your unique situation. Additionally, your car insurance rates can go higher if you’ve received driving violations or have been involved in an accident after receiving your initial auto insurance rate. You may use the average auto insurance rates in Chicago as an initial reference for your possible annual premium, but it is best to consult with the companies directly for a personal evaluation to see how the rates will change for you.
MoneyGeek collected average car insurance rates for a sample driver profile, a 40-year-old male driver with a full coverage policy that includes liability insurance and comprehensive and collision insurance.
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Average Cost of Car Insurance in Chicago
Car insurance in Chicago is not cheap. The average car insurance rate in Chicago is $1,134 annually. The average cost in the state of Illinois is also $1,134. In comparison, the national average car insurance premium is $1,424.
Of course, the final car insurance cost varies from person to person. Car insurance in Chicago is calculated depending on different personal factors.
The Best Car Insurance Companies in Chicago
MoneyGeek ranked the best auto insurance companies in Chicago that balance affordability and quality service to help drivers who value these factors. The companies with the highest scores for most drivers are:
- Erie: MoneyGeek score of 95 out of 100 (only available for current and former military members)
- Hartford: MoneyGeek score of 88 out of 100
USAA received the highest score in Chicago by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
Using various factors, such as J.D. Power user satisfaction, affordability and financial stability, MoneyGeek calculated the final scores out of 100.
Personalized Quotes to Get You the Cheapest Car Insurance in Chicago
The average insurance rates per company may still increase or decrease depending on your history and personal profile. The riskier your profile is, the higher your premiums will cost. Some of the factors affecting your profile are your driving history, ZIP code and credit score.
It is imperative that you get personalized car insurance quotes in Chicago to get a good read on how your unique circumstances will affect your insurance premiums. Consulting directly with insurance companies will also clue you in on if there are discounts you may qualify for, rebates or other promos that the insurance company may offer.
Shopping around for car insurance in Chicago could save you $345, which is enough to buy:
Cheapest Car Insurance in Chicago by Coverage Amount
The amount of coverage that you buy impacts the cost of your auto insurance in Chicago and elsewhere. The average cost of a policy in Chicago that only meets the state minimum is $582 per year, while a full coverage policy with higher liability limits typically costs an average of $1,134 annually. That is a $552 difference.
Illinois Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $20,000 for property damage. A more protective level is 100/300/100.
- Uninsured Motorist$25,000 per person and $50,000 per incident. The minimum coverage may not be enough if you're in a serious accident.
In the state of Illinois, drivers are required to follow a minimum liability coverage of $20,000 per bodily injury coverage per person, $40,000 bodily injury per incident and $15,000 in property damage coverage per incident, among other coverage requirements. This means that the minimum liability coverage is 20/40/15.
You can choose a policy with every possible option, as long as it meets the minimum requirement. That means that you can also purchase 50/100/50 policies, or $50,000 per bodily injury coverage per person, $100,000 bodily injury coverage per incident and $50,000 in property damage coverage per incident.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in Chicago if You Have Driving Violations
Your driving history will affect the cost of your auto insurance premiums. To illustrate this, if a Chicago resident utilizes AAA for auto insurance, their average premium may be $1,669 without any violations. If they receive a DUI, that premium may increase to $6,404.
If you get a DUI, the premium increase varies by company and may vary even further depending on how many offenses you already have in the year.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
Your Chicago ZIP code has a hand in determining the average auto insurance premiums you will need to pay. In some areas, it is riskier to own a car due to threats of car theft, accidents and more. In Chicago, the three ZIP codes with the most affordable car insurance are 60657, 60018 and 60625. If you live in 60628, you'll likely be paying the most for auto insurance in Chicago — $1,267.
- Zip CodeState Minimumper year
Top Agents Offering Affordable Car Insurance in Chicago
Factors That Impact Insurance Costs in Chicago
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Chicago. How Chicago ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Chicago are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
- GEICO. "Car Insurance Quotes in Chicago, IL." Accessed May 29, 2020.