Finding cheap car insurance is easier said than done, and deciding which companies quote the cheapest insurance rates for low mileage drivers may require more quotes for comparison.
Each insurer has a unique approach to set policy rates, so let’s begin by taking a look at the overall cheapest insurance companies in Chicago. It’s a good idea to be aware that Chicago insurance rates are impacted by many factors that control the price you have to pay. Simply turning a year older, buying another vehicle, or getting a reckless driving citation can trigger rate changes resulting in some companies being less affordable than competitors.
Cheap Insurance Rates in Illinois
|Rank||Company||Cost Per Year|
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The Hartford may offer some of the best car insurance rates in Chicago at around $753 annually. Rockford Mutual, Titan, Erie, and Cincinnati Insurance also are some of the best Chicago, IL car insurance companies.
In the above rates, if you currently have coverage with Cincinnati Insurance and switched to Rockford Mutual, you may realize yearly savings of roughly $59. Insureds with Travelers may save as much as $114 a year, and State Farm insureds might realize rate reductions of up to $134 a year.
To get a fast rate comparison, click here to get quotes or click through to the companies below.
Be aware that those premium estimates are averages for all insureds and vehicles and and are not calculated with a specific zip code for low mileage drivers. So the auto insurance company that can offer you the best price may not even be in the top 36 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own driver and vehicle profiles.
For infrequent drivers, one of the big factors that are looked at to determine car insurance rates is the neighborhood you call home in Chicago. Areas with more people or more claims tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims get the luxury of paying less.
The illustration below shows the highest-priced areas in Illinois for low mileage drivers to buy an auto insurance policy in. Chicago ranks #2 with a yearly cost of $1,484 for the average insured, which is approximately $124 monthly.
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Prices are approximated as the specific garaging location can influence price quotes substantially.
The type of vehicle requiring insurance is one of the largest considerations when comparing the most economical auto insurance for low mileage drivers. Vehicles with lots of horsepower, a lack of advanced safety features, or a high likelihood of having liability claims will cost much more to insure than safer, lower-performance models. The next list estimates insurance prices for a handful of the most cost-effective vehicles to insure in Illinois.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$2,088|
|Ford F-150 STX Super Cab 4WD||$2,386|
|Honda CR-V EX-L 2WD||$2,445|
|Jeep Wrangler Sport 4WD 2-Dr||$2,478|
|Ford Escape XLS 4WD||$2,557|
|Kia Optima LX||$2,648|
|Ford Explorer Eddie Bauer 2WD||$2,681|
|Dodge Ram Crew Cab ST 2WD||$2,697|
|Ford Edge SE 2WD||$2,806|
|Jeep Grand Cherokee Laredo 2WD||$2,829|
|Volkswagen Jetta S 4-Dr Sedan||$2,838|
|Dodge Ram 2500 Mega Cab Laramie 4WD||$2,871|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$2,881|
|Dodge Grand Caravan Crew||$2,890|
|Toyota Corolla XLE||$2,979|
|Chevrolet Silverado 2500HD LT Crew Cab Diesel 2WD||$2,999|
|Toyota RAV4 Limited 4WD||$3,029|
|Chevrolet Malibu LS||$3,034|
|Hyundai Sonata GLS 4-Dr Sedan||$3,032|
|Chevrolet Equinox LTZ 2WD||$3,038|
|Hyundai Elantra Blue 4-Dr Sedan||$3,127|
|Dodge Ram 3500 Crew Cab ST 2WD||$3,137|
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Prices do not factor in vehicle location which can decrease or increase rates considerably.
Looking at the rates, cars like the Honda Accord, Toyota Prius, Ford F-150, and Honda CR-V should be some of the cheapest vehicles to insure for infrequent drivers.
The illustration below illustrates how your deductible choice can increase or decrease premium costs when getting quotes for cheap insurance for low mileage drivers. The price estimates are based on a single female driver, comp and collision included, and no policy discounts are applied.
The data above shows that a 30-year-old driver could lower their car insurance rates by $322 a year by changing from a $100 deductible up to a $500 deductible, or save $484 by changing to a $1,000 deductible. Youthful drivers, such as the Age 20 example, could drop their prices $718 annually just by choosing larger deductibles. If you make the decision to raise deductibles, it’s a good idea to have spare funds to enable you to cover the extra out-of-pocket expense, which deters some people from using high deductibles.
Types of discounts on Chicago car insurance rates
Auto insurance companies that provide policies for low mileage drivers may additionally offer policy discounts that can reduce rates by as much as 30% if you are eligible to receive them. A few popular companies and a summarized list of policyholder discounts can be read below.
- Progressive may offer discounts for continuous coverage, homeowner, multi-policy, good student, online quote discount, multi-vehicle, and online signing.
- MetLife may have discounts that include defensive driver, claim-free, good driver, good student, accident-free, and multi-policy.
- Mercury Insurance offers discounts for type of vehicle, professional/association, low natural disaster claims, good driver, multi-policy, age of vehicle, and anti-theft.
- Nationwide has savings for good student, anti-theft, multi-policy, business or organization, Farm Bureau membership, defensive driving, and family plan.
- GEICO policyholders can earn discounts including defensive driver, seat belt use, emergency military deployment, multi-vehicle, five-year accident-free, and military active duty.
- AAA includes discounts for good student, AAA membership discount, multi-policy, good driver, anti-theft, and education and occupation.
The chart below compares yearly insurance costs with and without discounts applied. Data assumes a female driver, no claims or violations, Illinois state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with safe-driver, anti-theft, defensive driving course, marriage, passive restraint, and multiple policy discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for low mileage drivers is 27% or $434.
How accidents and violations affect rates
The common sense way to obtain low insurance premiums in Illinois for infrequent drivers is to drive safely and avoid at-fault accidents and violations. The diagram below highlights how traffic violations and accident claims impact car insurance costs for each age group. The costs are based on a single female driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.
The data charted above shows the average cost of car insurance in Illinois per year with no accidents and a clean driving record is $1,401. Add in one speeding ticket and the average cost increases to $1,590, an increase of $189 each year. Then add in two accidents along with the one speeding ticket and the yearly cost of insurance for low mileage drivers jumps again to an average of $3,371. That’s an increase of $1,970, or $164 per month, just for not keeping your driving record clean!
Your cheap policy may actually be overpriced
Chicago insurance rates are influenced by many factors that control the price of coverage. Simply improving your credit, buying a home instead of renting, or getting a couple of tickets may cause policy rate changes that may make certain companies more affordable than the competition. Not only may your risk profile change, but auto insurance companies file new rates as needed to help ensure profitability. Larger than normal claims may result in additional price hikes, while better underwriting can produce more affordable Chicago car insurance rates.
For instance, the bar chart below shows which companies have the cheapest car insurance in Chicago, IL for a 30-year-old male driver with a clear driving record, no claims, and excellent credit. If we estimate rates based on his personal risk profile, The Hartford may have the best car insurance rates in Chicago at $1,222 annually. This is $127 less than the average price paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Cincinnati Insurance, and Erie also make the list of the cheapest Chicago, IL auto insurance companies.
In this example, we will give the driver from the above example an at-fault accident, a lower credit rating, and a few blemishes on his driving record. Since each auto insurer has a different formula to determine rates, analyzing rate quotes may now present a different ranking of cheap Chicago auto insurance companies as shown below.
Utica National now has the lowest price in Chicago, IL with USAA, State Farm, SECURA, and Auto-Owners now being in the top five. This example proves why it is crucial to compare many different companies to find the most affordable car insurance rates for low mileage drivers. Insurance prices can be determined by many risk factors and can decrease or increase without notice, so the cheapest rate when you bought your policy may now be an over-priced policy.