What Car Insurance is Cheapest for Lyft Drivers in Chicago?

You have most likely seen the ads from companies like The General and Liberty Mutual that say if you switch you’ll get the cheapest rates, so you should just choose the one with the best commercial, right?

It’s not that easy, however, as there are a whole slew of unknown factors such as where you live, if you own or rent your home, your credit history, and your driving record, that all factor into the price you pay. This article goes into detail about the best ways to save on auto insurance and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

For Lyft vehicles, one of the big factors that are looked at to help calculate the annual cost of car insurance is where you call home. More populated areas likely pay more, whereas more rural areas have the luxury of cheap car insurance rates.

The information below ranks the most costly cities in Illinois for Lyft drivers to buy an auto insurance policy in. Chicago shows up at #1 with a yearly cost of $1,544 for the average insurance policy, which is approximately $129 each month.

How much is car insurance in Chicago?
Rank City Average Per Year
1 Chicago $1,544
2 Cicero $1,526
3 Berwyn $1,449
4 Skokie $1,433
5 Evanston $1,264
6 Des Plaines $1,248
7 Oak Lawn $1,243
8 Mount Prospect $1,217
9 Waukegan $1,212
10 Orland Park $1,173
11 Schaumburg $1,169
12 Joliet $1,169
13 Tinley Park $1,166
14 Arlington Heights $1,139
15 Rockford $1,119
16 Bolingbrook $1,116
17 Palatine $1,109
18 Elgin $1,105
19 Peoria $1,082
20 Decatur $1,055
21 Aurora $1,053
22 Naperville $1,053
23 Springfield $1,028
24 Bloomington $980
25 Champaign $962
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Prices are comparative as specific Chicago garaging address can alter coverage prices noticeably.

The vehicle that is being insured is probably the biggest factor that determines if you can find the lowest-priced car insurance for Lyft drivers. Vehicles with high performance engines, poor crash test ratings, or a history of substantial liability claims will cost significantly more to insure than safer models. The next table features auto insurance costs for a selection of the most economical automobiles to buy coverage for.

Cheapest Vehicles to Insure in Chicago, IL
Make and Model Estimated Cost for Full Coverage
Honda CR-V LX 2WD $2,046
Ford Escape Limited 2WD $2,091
Ford Explorer XLT 2WD $2,296
Ford F-150 Lariat Super Cab 4WD $2,471
Toyota Corolla XLE $2,549
Honda Odyssey LX $2,578
Chevrolet Silverado LS Crew Cab 4WD $2,598
Nissan Rogue SL 2WD $2,604
Ford Edge SE AWD $2,724
Hyundai Elantra SE Touring Station Wagon $2,731
Toyota Camry Hybrid $2,773
Jeep Grand Cherokee Laredo 4WD $2,776
Chevrolet Malibu LS $2,783
Toyota RAV4 4WD $2,776
Toyota Prius $2,783
Dodge Grand Caravan CV $2,815
Chevrolet Impala LS $2,909
Ford Focus SE 4-Dr Sedan $2,914
Toyota Camry SE $2,922
Volkswagen Jetta S 4-Dr Sedan $2,971
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Rates do not factor in the specific area where the vehicle is garaged which can change rates significantly.

Looking at the rates, vehicles like the Honda CR-V, Ford Escape, Ford Explorer, and Ford F-150 will definitely be some of the cheapest vehicles to insure for Lyft vehicles.

What is the best auto insurance company in Illinois?

Selecting a good quality auto insurance provider is hard considering how many choices drivers have in Illinois. The rank data displayed below can help you select which car insurance companies to look at putting your business with.

The rankings below include major nationwide insurance companies, so smaller regional companies are not included in these rankings. To view rates from these and other top-rated companies, click here.

Top 10 Major Auto Insurance Providers in Chicago Ranked by A.M. Best Rating

  1. USAA – A++
  2. GEICO – A++
  3. Travelers – A++
  4. State Farm – A++
  5. Titan Insurance – A+
  6. Progressive – A+
  7. Erie Insurance – A+
  8. Mercury Insurance – A+
  9. The Hartford – A+
  10. Nationwide – A+

Top 10 Major Auto Insurance Providers in Chicago Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. State Farm
  6. Liberty Mutual
  7. Safeco Insurance
  8. Allstate
  9. 21st Century
  10. Travelers

Cautious drivers save money

The best way to enjoy low auto insurance prices for Lyft vehicles is to drive safely and avoid tickets and accidents. The illustration below demonstrates how citations and at-fault collisions can increase insurance premiums for each different age category. The data assumes a married male driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

In the example above, the average cost of a car insurance policy in Chicago per year with no violations or accidents is $1,401. Get written up for two speeding tickets and the average cost jumps to $1,931, an increase of $529 each year. Now include one accident along with the two speeding tickets and the annual cost of auto insurance for Lyft drivers goes up to an average of $2,471. That’s an increase of $1,070, or $89 per month, just for not being more responsible behind the wheel!

Chances are good that you’re overpaying for Chicago car insurance

Chicago, IL auto insurance rates are calculated based on many things which can substantially change the policy premium. Simply having a birthday, filing a claim, or getting a speeding ticket can produce rate changes resulting in some rates now being cheaper than before.

Also, auto insurance companies change the rates they charge in Illinois as often as every three months in order to be able to pay unexpected claims. Heavier than normal losses may result in price increases, while profitable underwriting can cause lower-cost Chicago car insurance rates.

The graph below shows which companies have the cheapest car insurance in Chicago, IL for a 30-year-old male driver with no accidents, a clean driving record, and excellent credit. If we estimate prices based on his personal profile, The Hartford offers the cheapest car insurance rates in Chicago at $1,248 per year. This is $101 less than the average policy premium paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Erie, and Cincinnati Insurance are the remaining top five cheapest Chicago, IL auto insurance companies.

Let’s now give the driver from above a claim surcharge, a lower credit rating, and a blemish on his driving record. Since each auto insurance company has their own formula for determining rates, analyzing rates may result in a different list of the cheapest car insurance companies in Chicago as shown below.

Utica National now has the best price in Chicago with SECURA, USAA, State Farm, and Safeco also being competitive. This shows why it is important to compare as many rates as possible when trying to find the most affordable car insurance rates for Lyft drivers. Prices are made up of many different factors and change substantially, so the most affordable company six months ago may now be one of the higher cost companies.