Who Has Affordable Auto Insurance for Real Estate Agents in Chicago?

The type of vehicle requiring coverage is one of the largest factors when shopping for the lowest-priced insurance for real estate agents. Vehicles with limited speed and performance, good crash test ratings, or a low likelihood of having liability claims will cost less to insure than adrenaline junky models.

The information below showcases coverage rates for a handful of the most economical automobiles to buy insurance for.

Cheapest Vehicles to Insure in Chicago, IL
Insured Vehicle Estimated Cost for Full Coverage
Honda Accord LX 4-Dr Sedan $2,088
Toyota Prius $2,311
Ford F-150 XLT Super Cab 2WD $2,341
Ford Focus SE 4-Dr Sedan $2,423
Honda CR-V EX 4WD $2,445
Ford Escape XLT 4WD $2,453
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $2,518
Hyundai Sonata GLS 4-Dr Sedan $2,649
Jeep Wrangler Sahara 4WD 2-Dr $2,682
Volkswagen Jetta 2.0T Station Wagon $2,796
Ford Fusion SEL AWD 4-Dr Sedan $2,819
Kia Optima SX $2,826
Dodge Grand Caravan Hero $2,832
Nissan Altima 2.5 4-Dr Sedan $2,840
Chevrolet Malibu LS $2,832
Toyota RAV4 Limited 2WD $2,837
Ford Explorer Limited 4WD $2,885
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Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Rate information does not factor in vehicle location which can influence coverage rates considerably.

Based upon these rates, you can conclude that makes and models like the Honda Accord, Toyota Prius, Ford F-150, Ford Focus, and Honda CR-V are most likely going to be the cheapest vehicles to insure for realtors.

For realtors, one of the more important considerations that determine car insurance rates is where you choose to live. Areas with more people or higher crime rates will most likely pay more, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.

The next table lists the highest-priced places in Illinois for real estate agents to purchase a policy in. Chicago is listed at #2 with the yearly price of $1,499 for coverage, which is around $125 each month.

How much is car insurance in Chicago?
Rank City Annual Rate
1 Cicero $1,588
2 Chicago $1,499
3 Berwyn $1,406
4 Skokie $1,391
5 Oak Lawn $1,281
6 Des Plaines $1,274
7 Evanston $1,238
8 Waukegan $1,224
9 Orland Park $1,184
10 Joliet $1,180
11 Mount Prospect $1,169
12 Schaumburg $1,157
13 Palatine $1,143
14 Elgin $1,139
15 Arlington Heights $1,139
16 Tinley Park $1,132
17 Bolingbrook $1,128
18 Rockford $1,107
19 Peoria $1,092
20 Decatur $1,055
21 Aurora $1,043
22 Naperville $1,042
23 Springfield $1,028
24 Champaign $942
25 Bloomington $942
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Annual rates are approximated as the specific geographic location can impact premiums significantly.

Finding dependable, affordable insurance is not most people’s favorite thing to do, and determining which companies have the most affordable car insurance rates for real estate agents involves additional perseverance. Every insurance provider uses a little different formula for filing rates in each state, so first we will examine the car insurance companies with the most affordable rates in Chicago.

It’s important that you understand Chicago car insurance rates are impacted by many things which can significantly increase or decrease the price you pay for coverage. This price variation is why it is so important to shop around to get the lowest insurance quotes for real estate agents. Insurance prices are impacted by many different factors and can increase or decrease at any time, so the best company when you bought your policy may now be wasting a lot of money.

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The Hartford generally has some of the lowest car insurance rates in Chicago at around $776 a year. Rockford Mutual, Titan, Erie, and Cincinnati Insurance also qualify as some of the most economical Chicago, IL insurance companies.

In the above rates, if you currently buy coverage from Rockford Mutual and switched to The Hartford, you could earn an annual savings of in the vicinity of $62. Policyholders with Titan may save as much as $102 a year, and Erie insureds might reduce prices by as much as $129 a year.

To find out how your current rates compare, click here to start your free quote or feel free to get quotes from the companies below.

Be aware that those policy rates are averaged across all insureds and vehicles and and are not figured with a specific vehicle garaging location for real estate agents. So the company that has the lowest price for you may not even be in the list above. That emphasizes why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

The example below illustrates how your choice of deductibles can change insurance rates when trying to find cheap insurance for real estate agents. The premiums assume a single male driver, comp and collision included, and no discounts are taken into consideration.

The chart above illustrates that a 50-year-old driver could lower their policy premium by $214 a year by increasing from a $100 deductible up to a $500 deductible, or save $324 by switching to a $1,000 deductible. Younger drivers, such as the Age 20 example, could lower their rates as much as $702 or more just by choosing higher deductibles when buying full coverage.

If you make the decision to raise deductibles, it will be important to have additional funds in a savings account to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.

Safe drivers pay cheaper rates

The easiest way to receive the best car insurance rates for realtors is to be an attentive driver and avoid getting tickets or having accidents. The illustration below shows how speeding tickets and at-fault collisions increase annual premium costs for different insured age categories. The costs are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.

In the previous chart, the average cost of an auto insurance policy in Chicago per year with no accidents or violations is $1,177. Add in two speeding tickets and the average cost surges to $1,673, an increase of $496 each year. Now throw in two accidents along with the two speeding tickets and the 12-month cost of car insurance for real estate agents goes up to an average of $3,420. That’s an increase of $2,243, or $187 per month, just for being a careless driver!

The benefit of shopping around

Chicago, IL car insurance rates are calculated based on many things which can substantially decrease or increase the price you pay for coverage. Simply getting older, buying a home, or getting a ticket for careless driving can trigger rate changes that may make certain companies cheaper than competitors.

Not only may things change on your end, but car insurance companies modify rates without warning to adjust for unexpected claims or profits. Unexpectedly high claims can cause a rate increase, while a better claims history can result in more affordable Chicago car insurance rates.

As an example, the graph below shows the cheapest car insurance in Chicago, IL for a 35-year-old male driver with no accidents, a clean driving record, and good credit. If we compare prices based on his personal profile, The Hartford may have the best car insurance rates in Chicago at $1,235 annually. This is $114 less than the average premium paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Erie, and Cincinnati Insurance are the rest of the most affordable Chicago, IL auto insurance companies.

Now let’s give the driver from the first set of rates a chargeable accident, less-than-perfect credit, and a blemish on his driving record. Due to the fact that every auto insurer has their own formula for determining rates in each state, comparing insurance quotes may now show a substantially altered list of the cheapest companies as shown below.

State Farm now has the lowest price in Chicago with Utica National, USAA, SECURA, and Auto-Owners also being competitive. This example shows why Chicago drivers need to do a thorough rate comparison when trying to get the most budget-friendly car insurance rates for real estate agents.

Car insurance prices can be determined by many risk factors and change dramatically, so the cheapest option when you last compared rates may now be one of the higher cost companies.