Finding competitive auto insurance for a Chevrolet Equinox in Illinois can be pretty simple, but it depends on a complicated rating formula that uses factors such as whether you are married or single, if you are a frequent claim filer, and your choice of deductibles. Drivers in Illinois pay on average $694 each year to insure their Equinox, but that cost is an approximation based on a 40-year-old married male driver with full coverage and $500 deductibles.
More likely than not, you may not be 40 years old (or even male), you might be single instead of married, or maybe you prefer higher deductibles. Even a slight difference in the factors used in pricing a policy can make a large difference in the price of coverage.
This illustrates why the best method for finding cheap insurance rates for your Chevrolet is to do a thorough rate comparison. To start saving now, get free quotes and you will be able to compare rates from the best auto insurance companies that insure vehicles in Illinois.
The specific model of Equinox has an effect on the cost of coverage, so the price you will pay to insure a Equinox LS 2WD model will be $64 less expensive the cost to insure the fancier Equinox LTZ AWD trim level, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$150||$252||$268||$16||$80||$766||$64|
|Equinox LT 2WD||$150||$252||$268||$16||$80||$766||$64|
|Equinox LS AWD||$150||$252||$268||$16||$80||$766||$64|
|Equinox LT AWD||$150||$252||$268||$16||$80||$766||$64|
|Equinox LTZ 2WD||$168||$298||$268||$16||$80||$830||$69|
|Equinox LTZ AWD||$168||$298||$268||$16||$80||$830||$69|
|Equinox LTZ AWD||$168||$298||$268||$16||$80||$830||$69|
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Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Rate information does not factor in specific location information which can revise premiums significantly.
Locating low-priced auto insurance is easier said than done, and finding out which companies quote the cheapest insurance rates for a Chevrolet Equinox involves even more perseverance.
Every auto insurer uses different criteria to establish rates, so we need to take a look at the insurance companies that tend to be cheaper in Chicago, IL. It’s important to know that Illinois insurance rates are based on many factors that control the price you pay. This price variation is why it is so important to compare rates when trying to get the cheapest car insurance rates for a Chevrolet Equinox. Car insurance prices are determined by many different factors and can change without notice, so the most economical option the last time you shopped around may now be an over-priced policy.
Find Cheaper Car Insurance for Your Equinox
|Rank||Company||Cost Per Year|
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The Hartford quotes some of the cheapest car insurance rates in Chicago at around $769 each year. Rockford Mutual, Titan, Cincinnati Insurance, and Erie are also some of the cheaper Chicago, IL car insurance companies.
As illustrated above, if you have coverage with Cincinnati Insurance and switched to The Hartford, you could see an annual savings of approximately $128. Insureds with Erie could save as much as $145 a year, and Travelers customers might lower prices by up to $183 a year.
It’s important to note that these premiums are averaged for all drivers and vehicles and and are not calculated with an exact vehicle garaging location for a Chevrolet Equinox. So the insurer that has the cheapest price for you may not even be in the list above. That helps illustrate why you need to compare prices as often as possible using your own driver and vehicle profiles.
Get discounts on Chicago insurance
Insurers that offer coverage for a Chevrolet Equinox may provide discounts that may potentially lower prices by as much as 30% if you meet specific eligibility requirements. The best insurance companies and a partial list of their discounts can be found below.
- State Farm may have discounts that include multiple autos, safe vehicle, student away at school, defensive driving training, and driver’s education.
- GEICO policyholders can earn discounts including good student, multi-vehicle, membership and employees, air bags, military active duty, and emergency military deployment.
- SAFECO may offer discounts for teen safety rewards, anti-theft, drive less, homeowner, teen safe driver, and anti-lock brakes.
- Farmers Insurance offers discounts including electronic funds transfer, pay in full, good student, teen driver, alternative fuel, mature driver, and homeowner.
- AAA includes discounts for multi-policy, anti-theft, pay-in-full, good student, education and occupation, and multi-car.
- USAA has discounts for safe driver, new vehicle, multi-vehicle, defensive driver, multi-policy, vehicle storage, and good student.
The chart below shows the comparison of annual premium costs with and without discounts applied to the rates. The premiums assume a female driver, no claims or violations, Illinois state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with passive restraint, accident-free, safe-driver, homeowner, claim-free, and multiple policy discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for a Chevrolet Equinox is 28% or $367.
Why you should be shopping around
Chicago insurance rates are impacted by many factors that can increase the cost of your policy. Getting older, getting divorced, or getting a driving violation may prompt premium changes that can now make some companies cheaper than competitors.
Additionally, companies modify rates every year or even multiple times each year in order to offset underwriting gains or losses. Larger than normal claims may result in rate hikes, while less frequent claims can produce lower-priced Equinox insurance rates.
The data below shows which company has the cheapest car insurance in Chicago, IL for a 35-year-old male driver with no prior claims, no tickets, and great credit. When quoting prices based on his current risk profile, The Hartford might offer the best car insurance rates in Chicago at $1,235 annually. This is $114 less than the average rate paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Cincinnati Insurance, and Erie are also included in the cheapest Chicago, IL auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a claim, slightly worse credit, and a traffic citation. Since every car insurance company uses their own calculation to set their prices, analyzing rates may now result in a substantially altered list of cheap Chicago auto insurance companies as shown below.
USAA now has the best insurance rate in Chicago with Travelers, State Farm, SECURA, and Auto-Owners completing the list. This example proves why it is so important to compare lots of rates to get the most economical auto insurance quotes for a Chevrolet Equinox.
Prices are influenced by many things and can change without notice, so the cheapest rate two years ago may now be wasting a lot of money.
The Chicago car insurance agencies listed below are a good start to help you determine which car insurance policy is best, as many people would rather get some professional advice when shopping for the best coverage for an Equinox. It can be challenging to find the cheapest rates, and using a licensed agent can add comfort knowing your policy gives you adequate protection in the event of a claim. To find an agent by location nearest to you, click the button after the list or click here to compare rates now.
Peter Grande – State Farm Insurance Agent
1535 W Division St – Chicago, IL 60642 – (773) 270-4600
Rhea Joyer – State Farm Insurance Agent
4911 N Lincoln Ave c – Chicago, IL 60625 – (773) 878-8883
Great Northern Insurance Agency
5632 S Pulaski Rd – Chicago, IL 60629 – (773) 838-3900