For high risk drivers, one of the more important factors that determine the amount you pay for auto insurance is where you live in Chicago. Areas with more people or more claims are more likely to pay higher prices, whereas less populated areas tend to receive cheaper rates.
The following table ranks the priciest cities in Illinois for high risk drivers to buy auto insurance in. Chicago shows up at #1 with an annual premium of $1,544 on average, which is about $129 monthly.
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Rate quotes are comparative as specific location information can change auto insurance rates substantially.
The make and model of vehicle to be insured is one of the primary factors that determines the availability of the most economical auto insurance for high risk drivers. Vehicles with average performance, advanced safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than fast, unsafe models.
The next list shows insurance prices for some of the cheaper automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$7,133|
|Ford Escape XLS 2WD||$7,381|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$7,893|
|Volkswagen Jetta S 2.5 Station Wagon||$8,065|
|Ford Explorer Eddie Bauer 2WD||$8,344|
|Chevrolet Impala LT||$8,351|
|Toyota Camry LE||$8,356|
|Ford F-150 Lariat Super Cab 2WD||$8,430|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$8,435|
|Toyota Corolla S||$8,729|
|Ford Edge Limited AWD||$8,739|
|Honda Odyssey EX-L||$8,729|
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Data assumes single female driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Price estimates do not factor in specific zip code location which can modify price quotes considerably.
Based upon the table data, we can presume that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, and Jeep Wrangler are going to be the most economical vehicles to insure for high risk drivers. The price for car insurance will tend to be higher because of the fact that there is a higher risk for high risk drivers, but generally speaking those models will tend to have the best insurance prices compared to all other vehicles.
Finding low-priced insurance is hard enough, and finding out which companies quote the most affordable car insurance rates for high risk drivers involves even more perseverance. Each company has their own formula to set premium rates, so first we will examine the lowest cost car insurance companies in Chicago, IL.
It’s important to understand that Chicago car insurance rates are impacted by many things that can increase the price you pay. Events like turning one year older, filing a claim, or having an at-fault accident can cause premium changes that may make certain companies more expensive than competitors.
Best Cheap Insurance Rates for Risky Drivers
|Rank||Company||Cost Per Year|
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The Hartford generally has some of the lowest car insurance rates in Chicago at around $753 per year. Rockford Mutual, Titan, Cincinnati Insurance, and Erie are also some of the most economical Chicago, IL car insurance companies.
In the above example, if you are currently insured with Titan and switched to The Hartford, you might see yearly savings of in the neighborhood of $125. Insureds with Cincinnati Insurance might save as much as $144 a year, and Erie customers might lower prices by $161 a year.
If you want to find out if you’re overpaying, click here to start your free quote or click several companies below for low rates.
Remember that these policy rates are averages for all types of drivers and the different vehicles they drive and do not factor in a specific zip code for high risk drivers. So the insurer that can offer the best rates for your situation may not even be in the top 36 companies in the list above. That emphasizes why you need to get car insurance quotes using your own driver data and vehicle information.
Safe drivers pay less for car insurance
One of the best ways to score the most affordable car insurance prices for high risk drivers is to be a cautious driver and avoid tickets and accidents. The diagram below illustrates how violations and fender-benders influence insurance prices for each age group. The prices are based on a married male driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
The data in the chart shows the average cost of auto insurance in Illinois per year with no accidents and a clean driving record is $1,713. Factor in two speeding tickets and the average cost jumps to $2,372, an increase of $658 each year. Then throw in one accident along with the two speeding tickets and the 12-month cost of car insurance for high risk drivers jumps again to an average of $3,047. That’s an increase of $1,334, or $111 per month, just for a couple of infractions!
Cost of full coverage in Chicago
Finding cheaper car insurance is probably important to most people, and one of the quickest ways to reduce the cost of insurance for high risk drivers is to not insure for full coverage. The diagram below shows the difference between car insurance rates when comparing full coverage to liability only. The price estimates are based on no accidents, no driving violations, $100 deductibles, marital status is single, and no discounts are applied to the premium.
Averaged out for all age groups, full coverage costs an extra $2,010 per year more than just buying liability insurance. Many drivers may wonder if buying full coverage is a good investment. There is no specific rule to stop buying physical damage coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
Discount Chicago car insurance rates
Auto insurance companies that offer coverage for high risk drivers may also offer discounts that can reduce rates by 35% or more if you qualify for them. The best car insurance companies and the discounts they provide are shown below.
- Progressive may offer discounts for homeowner, multi-vehicle, online quote discount, continuous coverage, multi-policy, and online signing.
- SAFECO policyholders can earn discounts including multi-car, accident prevention training, safe driver, anti-theft, and teen safety rewards.
- American Family may have discounts that include defensive driver, mySafetyValet, TimeAway discount, accident-free, multi-vehicle, early bird, and bundled insurance.
- MetLife offers premium reductions for good student, accident-free, defensive driver, good driver, claim-free, and multi-policy.
- GEICO may include discounts for emergency military deployment, five-year accident-free, air bags, daytime running lights, and seat belt use.
- The Hartford has discounts for good student, air bag, bundle, driver training, anti-theft, defensive driver, and vehicle fuel type.
The illustration below compares insurance prices with and without discounts being applied to the rates. The costs are based on a male driver, three violations and two accidents, Illinois state minimum liability limits, full coverage, and $500 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with homeowner, vehicle safety, continuous coverage, marriage, anti-theft, and passive restraint discounts applied. When taking advantage of discounts, the average savings per year on car insurance for high risk drivers is 28% or $1,034.