Best & Cheapest Car Insurance In Chicago, IL For 2024

Sometimes choosing the most affordable option doesn’t mean receiving the best quality and service. However, State Farm has found a way to stay true to its customer-first approach while minimizing costs. On average, a car insurance policyholder with State Farm will pay around $900 for coverage.

State Farm continuously ranks as one of Chicago’s most affordable car insurance options. It also has some of the highest scores for overall customer service ratings, and many people have had wonderful experiences when dealing with local agents.

Anyone shopping around for an auto insurance policy should consider State Farm on their list.

Some insurance providers weigh driving violations more heavily than others, making it almost impossible to afford an auto insurance policy. However, Auto-Owners has kept its core value of providing cheap car insurance to nearly all drivers, including those with at-fault accidents or DUIs on their record.

While each violation will impact the total amount you pay for coverage, many drivers can still find car insurance policies for around $1,500 per year through Auto-Owners.

While Auto-Owners doesn’t rank the highest among the big insurance carriers regarding user experience, they do offer one-on-one consultations that many customers find beneficial.

Overall, Auto-Owners is a great option for anyone with a few instances in their driving history.

One of the biggest factors insurance companies use when setting your monthly premium rate is past driving history. Those with a clean driving record are seen as low-risk drivers and receive the best rates, while others with speeding tickets, DUIs, and at-fault accidents are deemed “high-risk.”

Unfortunately, drivers with instances in their driving past often receive much higher rates, making it hard to afford coverage. However, some companies like Auto-Owners are more lenient and provide perks such as accident forgiveness.

Even though Auto-Owners aren’t available in every state, they are an excellent option for drivers in Chicago. The company offers some of the cheapest full coverage rates in the state while continuing to provide a great customer experience for policyholders who like having a local agent they can visit.

While there isn’t a way to manage policies online, the company does have several perks that make up for the lack of convenience. One of the biggest advantages is the company’s accident forgiveness policy.

Most full coverage plans offered by Auto-Owners will cost around $1,032 per year.

While every driver has to have the minimum coverage mandated by the state, carrying full auto insurance is not required. However, there are benefits of paying a little more for the added protection. For example, with a comprehensive full coverage auto policy, you’ll have the following coverages:

• Property damage liability
• Bodily injury liability
• Comprehensive and collision protection

If you’re in the market for a minimum coverage plan, it’s important to find a reliable company to assist you should an accident or damage occur. With Auto-Owners, you’ll have access to a local agent who knows you personally. Auto-Owners is also one of the cheapest providers in the Chicago area.

Most minimum coverage customers can expect to pay $840 annually with Auto-Owners.

Finding another insurance carrier that delivers on customer experience and affordable coverage is challenging regarding a minimum auto insurance policy.

While most people opt for a full coverage auto insurance policy, there are several reasons why a minimum coverage plan makes complete sense. For example, if you own multiple vehicles and rarely drive one, having that car or truck on a minimum plan is reasonable.

Likewise, if you have a college student who plans to leave their car at your house while away at school, you could switch the coverage from full to minimum to save some money.

Ultimately, a minimum coverage plan will allow you to drive a vehicle legally but will only provide you with some of the protection you need if there is an accident or wreck.

Before diving too far into USAA, it’s important to point out that the company will only offer coverage to active military members, veterans, and their family members. If you meet the criteria above, USAA should be one of the companies you include in your list of quote requests.

The insurance provider consistently ranks as one of the top companies for customer service and experience. Along with excellent performance ratings, their rates are also among the most competitive in Chicago, with young drivers paying roughly $1,632 a year for coverage. They also have attractive benefits such as accident forgiveness and new car replacement.

Typically, insurance providers utilize driving history as a significant component of the premium determination process. However, using the same criteria for young drivers is challenging since they have less experience behind the wheel. Instead, many companies use data to predict how risky a teenage driver will likely be.

As more time passes and additional driver data is available, many young drivers will notice their rates decrease as they continue to practice safe driving.

Even though Mercury Insurance doesn’t score as well as some other providers, they have the most affordable rates for seniors living in the Chicago area, with an average annual cost of $1,053. Mercury also offers additional perks and add-ons for policy members, including ride-sharing and mechanical breakdown coverage.

Unlike younger drivers, senior drivers have spent many years behind the wheel and developed a lot of data for insurance companies to use when setting rates. If a driver has maintained a relatively clean driving record for most of their life, they are likely to have rates that are often below average.

Some insurance companies will also give senior drivers a lower rate if they only use their vehicles sparingly. Since fewer opportunities exist for accidents, providers often see seniors as a “low-risk” class of drivers.