Cheapest Car Insurance Companies in Chicago, IL (2024 Rates)


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Updated: May 20, 2024

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The cheapest car insurance depends on your driving profile. American Family is the cheapest for full coverage car insurance, drivers with accidents and DUIs, military drivers, young adults and sports car owners. Auto-Owners is cheapest for those with speeding violations, while Progressive is cheapest for teens and families. Country Financial is best for seniors and those with poor credit.

MoneyGeek also analyzed the best auto insurance providers in Chicago for both cost and service.

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2024

Cheapest Car Insurance in Chicago, IL

Why Trust MoneyGeek? We collected Chicago car insurance rates and other data from the Illinois Department of Insurance and Quadrant Information Services to analyze and rank auto insurance providers.

74,576Quotes Analyzed
 
14Companies Compared

Cheapest Minimum Coverage Car Insurance in Chicago

MoneyGeek found that the following Chicago auto insurance providers offer the most affordable minimum coverage policies:

  • Mercury: $293 per year
  • Country Financial: $368 per year

The most expensive provider in our analysis is Grange, which offers minimum coverage insurance for $840 a year. At $241 a year, Mercury also offers the cheapest auto insurance in Illinois as of October 2022, which is only slightly cheaper than the company's rate in Chicago.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Minimum Coverage
MercuryAnnual Premium$293Monthly Premium$24
Country FinancialAnnual Premium$368Monthly Premium$31
WestfieldAnnual Premium$372Monthly Premium$31
Auto-Owners Insurance CoAnnual Premium$439Monthly Premium$37
State FarmAnnual Premium$468Monthly Premium$39
GEICOAnnual Premium$488Monthly Premium$41
American FamilyAnnual Premium$489Monthly Premium$41
ErieAnnual Premium$493Monthly Premium$41
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The minimum liability requirements for car insurance policies in Illinois are as follows:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $20,000 property damage liability per accident
  • $25,000 uninsured motorist coverage per person
  • $50,000 uninsured motorist coverage per accident

If you have minimum coverage and are at fault in an accident, your insurance will only pay for up to $50,000 in medical expenses for the other driver and passengers, with a per person maximum of $25,000 — regardless of how many people were injured. Any remaining medical expenses, as well as damage to your vehicle, will be your responsibility.

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MONEYGEEK EXPERT TIP

Many states do not require uninsured motorist (UM) coverage — it is optional. But in Illinois, you must have it. Plus, your policy in Chicago will automatically include underinsured motorist (UIM) coverage if you purchase higher UM liability limits than the state requires. With UM, if a driver who does not have insurance hits you, it covers your medical bills. It also pays out in hit-and-runs. UIM handles your medical costs in an accident caused by a driver who does not have enough insurance coverage. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute

Cheapest Full Coverage Car Insurance in Chicago

The following companies offer full coverage auto insurance at the lowest rates in Chicago:

  • American Family: $888 per year
  • Country Financial: $890 per year

Grange is the most expensive insurer in Chicago for full coverage, costing an average of $1,823 per year. American Family is also your best choice for the cheapest full coverage auto insurance in Illinois, with rates averaging $696 per year — $192 less than its rates in Chicago.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
American FamilyAnnual Premium$888Monthly Premium$74
Country FinancialAnnual Premium$890Monthly Premium$74
Auto-Owners Insurance CoAnnual Premium$955Monthly Premium$80
MercuryAnnual Premium$984Monthly Premium$82
WestfieldAnnual Premium$1,011Monthly Premium$84
ProgressiveAnnual Premium$1,023Monthly Premium$85
State FarmAnnual Premium$1,060Monthly Premium$88
GEICOAnnual Premium$1,151Monthly Premium$96

A full coverage policy includes comprehensive and collision insurance in addition to liability coverage.

  • Collision insurance: Pays for damage to your car caused by an at-fault collision with another vehicle or object, such as a tree or light pole. Collision also covers rollover accidents and pothole damage.
  • Comprehensive insurance: Pays for damage to your car caused by events other than collisions, such as theft, vandalism, fire and weather hazards.

A full coverage auto insurance policy provides you with additional financial protection. However, If you have an older car with low value, the added expense might not be worth it.

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Cheapest Car Insurance in Chicago After a Driving Offense

The following companies offer the cheapest car insurance in Chicago for drivers with violations:

  • Speeding ticket: Auto-Owners ($1,064 per year)
  • At-fault accident: American Family ($1,073 per year)
  • DUI: American Family ($1,095 per year)

Hanover has the highest rates for drivers with an at-fault accident on their record at $2,818 per year, and Grange is the most expensive company for those with speeding tickets ($2,759) and DUIs ($3,147).

Driving violations can greatly impact auto insurance rates — even the cheapest rates for those with poor driving records will still be considerably higher than rates for those with safe records.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Incident:
Incident:Speeding
Auto-Owners Insurance CoAnnual Premium$1,064Monthly Premium$89
American FamilyAnnual Premium$1,095Monthly Premium$91
Country FinancialAnnual Premium$1,155Monthly Premium$96
State FarmAnnual Premium$1,165Monthly Premium$97
WestfieldAnnual Premium$1,193Monthly Premium$99
ErieAnnual Premium$1,267Monthly Premium$106
ProgressiveAnnual Premium$1,366Monthly Premium$114
GEICOAnnual Premium$1,413Monthly Premium$118

Car insurance rates typically increase based on the severity of the violation. For instance, drivers with a speeding ticket in Chicago pay an average of $314 more each year for car insurance, while those with a DUI pay $811 more. Even if you have a violation, it's still possible to get cheap car insurance rates with a poor record.

Cheapest Car Insurance in Chicago for Teens and Their Families

The following providers in Chicago provide the cheapest rates for young drivers on a family policy:

  • State Farm: $2,532 per year for female teens; Progressive: $2,782 per year for male teens;
  • Progressive: $2,552 per year for female teens; Auto-Owners: $2,910 per year for male teens;

Insuring teens on a family plan is the most expensive with GEICO, with average rates of $4,335 per year for female teens and $4,758 per year for male teens.

Because female teenagers tend to drive more safely, insurance is typically less expensive for them. In Chicago, for example, Progressive charges $230 more for male teens than for female teens. However, this cost difference tends to disappear in early adulthood.

Data filtered by:Results filtered by:
Age:
Age:16
Gender:
Gender:Female
State FarmFamily Plan Annual Premium$2,532Individual Plan Monthly Premium$6,172
ProgressiveFamily Plan Annual Premium$2,552Individual Plan Monthly Premium$9,189
TravelersFamily Plan Annual Premium$2,705Individual Plan Monthly Premium$13,278
Auto-Owners Insurance CoFamily Plan Annual Premium$2,851Individual Plan Monthly Premium$6,846
AllstateFamily Plan Annual Premium$3,055Individual Plan Monthly Premium$10,760
GEICOFamily Plan Annual Premium$4,335Individual Plan Monthly Premium$22,324

Teenagers looking for cheap auto insurance can save a lot of money by signing up for a family policy rather than buying one separately. Plus, it is illegal for a minor teen to purchase an individual car insurance policy without the written consent of a parent or guardian. In Chicago, an individual teen policy costs around $2,566 more per year than a family policy.

Cheapest Car Insurance in Chicago for Military Drivers

The cheapest full coverage providers in Chicago for those with a military background are:

  • American Family: $888 per year
  • Country Financial: $890 per year

USAA is also a good option as it caters specifically to military personnel. Its average annual rate in Chicago is $1,031.

For minimum coverage, Mercury offers the cheapest auto insurance rates for military drivers, with an average annual premium of $293. Country Financial is in second place again, with an annual premium of $368.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
American FamilyAnnual Premium$888Monthly Premium$74
Country FinancialAnnual Premium$890Monthly Premium$74
Auto-Owners Insurance CoAnnual Premium$955Monthly Premium$80
MercuryAnnual Premium$984Monthly Premium$82
WestfieldAnnual Premium$1,011Monthly Premium$84
ProgressiveAnnual Premium$1,023Monthly Premium$85
USAAAnnual Premium$1,031Monthly Premium$86
State FarmAnnual Premium$1,060Monthly Premium$88

How to Compare Cheap Chicago Car Insurance Quotes Online

It can take over 15 minutes to get a car insurance quote online from a single company in Chicago, and the process involves submitting a lot of personal information.

MoneyGeek's auto insurance calculator can provide a quick estimate so you can get an idea of your costs, and all it requires is your age, driving history, car model and desired coverage levels.

Car Insurance Calculator

MoneyGeeks's car insurance calculator will give you a customized estimate of your auto insurance cost. It's free to use, requires no personal information and we won't send you any spam.

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Rates updated:

Jul 17, 2024

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Cheapest Car Insurance in Chicago for Young Adults

The following companies offer the cheapest full coverage auto insurance for young adults in Chicago:

  • American Family: $954 per year
  • Country Financial: $1,163 per year

Hanover is the most expensive option, with an average yearly premium of $2,347 for a full coverage policy. Young adults pay less for auto insurance than teenagers do, but they generally still pay more than 40-year-olds since they're less experienced. In Chicago, rates for young adults are $304 more on average than rates for drivers in their 40s.

Data filtered by:Results filtered by:
Age Group:
Age Group:22-29
Coverage:
Coverage:Full Coverage
American FamilyAnnual Premium$954Monthly Premium$79
Country FinancialAnnual Premium$1,163Monthly Premium$97
ProgressiveAnnual Premium$1,235Monthly Premium$103
Auto-Owners Insurance CoAnnual Premium$1,260Monthly Premium$105
WestfieldAnnual Premium$1,333Monthly Premium$111
State FarmAnnual Premium$1,334Monthly Premium$111
GEICOAnnual Premium$1,347Monthly Premium$112
TravelersAnnual Premium$1,364Monthly Premium$114

Cheapest Car Insurance in Chicago for Seniors

The following providers offer the cheapest auto insurance for seniors in Chicago:

  • Country Financial: $837 per year
  • American Family: $869 per year

The most expensive company for seniors is Grange, which charges $1,799 annually for a full coverage policy. In Chicago, MoneyGeek found that the average car insurance rates for seniors are slightly lower (about $50) than rates for 40-year-olds.

Data filtered by:Results filtered by:
Age Group:
Age Group:60 +
Coverage:
Coverage:Full Coverage
Country FinancialAnnual Premium$837Monthly Premium$70
American FamilyAnnual Premium$869Monthly Premium$72
MercuryAnnual Premium$922Monthly Premium$77
Auto-Owners Insurance CoAnnual Premium$946Monthly Premium$79
State FarmAnnual Premium$982Monthly Premium$82
WestfieldAnnual Premium$994Monthly Premium$83
ProgressiveAnnual Premium$1,026Monthly Premium$85
GEICOAnnual Premium$1,048Monthly Premium$87

Cheapest Car Insurance in Chicago for Poor Credit

These Chicago companies offer the cheapest full coverage auto insurance for drivers with bad credit:

  • Country Financial: $1,311 per year
  • Mercury: $1,466 per year

At an annual cost of $2,810, Auto-Owners is the most expensive provider for drivers with a poor credit record. Chicago drivers with poor credit pay $867, or around 70%, more annually for auto insurance than those with good credit. Finding affordable auto insurance with bad credit is still possible, even though prices are often higher.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Country FinancialAnnual Premium$1,311Monthly Premium$109
MercuryAnnual Premium$1,466Monthly Premium$122
American FamilyAnnual Premium$1,577Monthly Premium$131
ProgressiveAnnual Premium$1,646Monthly Premium$137
TravelersAnnual Premium$1,779Monthly Premium$148
WestfieldAnnual Premium$1,791Monthly Premium$149
AllstateAnnual Premium$2,181Monthly Premium$182
HanoverAnnual Premium$2,268Monthly Premium$189

Car insurance companies tend to believe that drivers with a bad credit-based insurance score are more likely to make claims, which results in higher premiums. However, there are several methods to lower the cost of insurance if you have a bad credit history, including finding discounts, bundling your policies and comparing rates from different companies. You'll also be able to get lower rates over time if you raise your credit score.

Cheapest Car Insurance in Chicago for Sports Cars

The following companies offer the cheapest auto insurance for drivers with sports cars in Chicago:

  • American Family: $828 per year
  • Auto-Owners: $966 per year

Progressive charges the highest rate in the city at $1,697. For full coverage auto insurance, Chicago drivers with standard cars typically pay $1,234 annually, while those with sports cars spend around $1,270 — a relatively minor difference of $36, or 3%, per year.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
American FamilyAnnual Premium$828Monthly Premium$69
Auto-Owners Insurance CoAnnual Premium$966Monthly Premium$80
TravelersAnnual Premium$1,097Monthly Premium$91
State FarmAnnual Premium$1,263Monthly Premium$105
GEICOAnnual Premium$1,357Monthly Premium$113
AllstateAnnual Premium$1,685Monthly Premium$140
ProgressiveAnnual Premium$1,697Monthly Premium$141

In this analysis, MoneyGeek used a Ford Mustang to represent sports car pricing, but rates can vary by model. In general, sports, electric and luxury cars tend to have higher insurance rates.

Average Cost of Car Insurance in Chicago

In Chicago, the average annual cost of auto insurance is $1,136. This is for full coverage insurance with $100,000 in bodily injury liability per person, $300,000 in bodily injury liability per accident and $100,000 in property damage liability per accident.

Location is one of many variables that affect auto insurance premiums. The average cost of auto insurance in Illinois is $894 per year, which is $242 lower than in Chicago. Illinois's largest city is also more expensive for car insurance than other cities in the state, including Springfield, Joliet and Aurora. That's because Chicago has congested highways, high accident frequency, more vehicle theft and vandalism and higher repair costs.

However, rates in Chicago are slightly lower than the national average cost of auto insurance of $1,265 per year.

SpringfieldFull Coverage Average Annual Premium$803Minimum Coverage Average Annual Premium$350
PeoriaFull Coverage Average Annual Premium$818Minimum Coverage Average Annual Premium$370
NapervilleFull Coverage Average Annual Premium$829Minimum Coverage Average Annual Premium$398
RockfordFull Coverage Average Annual Premium$857Minimum Coverage Average Annual Premium$382
AuroraFull Coverage Average Annual Premium$858Minimum Coverage Average Annual Premium$403
ElginFull Coverage Average Annual Premium$881Minimum Coverage Average Annual Premium$413
JolietFull Coverage Average Annual Premium$954Minimum Coverage Average Annual Premium$441
ChicagoFull Coverage Average Annual Premium$1,234Minimum Coverage Average Annual Premium$527

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.