Who Has the Cheapest Auto Insurance for College Graduates in Chicago?

Trying to buy low-cost auto insurance is not easy, and figuring out which companies have the lowest-priced auto insurance rates for college graduates takes even more diligence. Every insurance provider uses slightly different criteria for determining rates, so we’ll go over the most affordable auto insurance companies in Illinois.

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Who has the cheapest car insurance in Illinois?
Rank Company Cost Per Year
1 The Hartford $753
2 Rockford Mutual $838
3 Titan $886
4 Erie $905
5 Cincinnati Insurance $924
6 Utica National $946
7 Travelers $952
8 USAA $979
9 SECURA $1,005
10 State Farm $1,012
11 Auto-Owners $1,064
12 Safeco $1,085
13 Amica $1,087
14 GEICO $1,107
15 Farmers $1,146
16 California Casualty $1,161
17 Esurance $1,185
18 MetLife $1,207
19 Progressive $1,219
20 State Auto $1,223
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The Hartford quotes some of the best car insurance rates in Chicago at around $753 a year. This is $596 less than the average price paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Erie, and Cincinnati Insurance are also some of the cheapest Chicago, IL auto insurance companies.

In the rate table above, if you are currently insured with Erie and switched to The Hartford, you might see yearly savings of approximately $152. Customers with Cincinnati Insurance might save as much as $171 a year, and Utica National policyholders might realize rate reductions of up to $193 a year.

To get a quick, customized rate comparison, click here or visit several of the following companies.

Bear in mind that those prices are averaged for all types of drivers and the different vehicles they drive and do not take into consideration a vehicle location for college graduates. So the auto insurance company that is best suited for you may not even be in the top 36 companies shown above. That is why you need to compare as many prices as possible using your own driver data and vehicle information.

One of the more important factors that are looked at to help calculate the annual cost of car insurance is your address in Chicago. Cities with more crime and/or more people are more likely to pay higher prices, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.

The table below sorts the most costly cities in Illinois for college graduates to purchase a policy in. Chicago makes the list at #2 with a yearly premium of $1,484 for coverage, which is about $124 per month.

How much is auto insurance in Chicago, IL?
Rank City Annual Premium
1 Cicero $1,588
2 Chicago $1,484
3 Berwyn $1,421
4 Skokie $1,391
5 Evanston $1,276
6 Des Plaines $1,274
7 Oak Lawn $1,231
8 Mount Prospect $1,205
9 Waukegan $1,188
10 Joliet $1,180
11 Elgin $1,151
12 Orland Park $1,149
13 Rockford $1,141
14 Schaumburg $1,135
15 Arlington Heights $1,128
16 Bolingbrook $1,128
17 Palatine $1,121
18 Tinley Park $1,120
19 Peoria $1,082
20 Springfield $1,059
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Information shown are comparative as the garaging address in Chicago can lower or raise prices considerably.

The vehicle model to be insured is probably the most important factor when shopping for low-cost coverage for college graduates. Vehicles with lots of horsepower, poor safety ratings, or a track record of large liability claims will cost much more to insure than safer, lower-performance models. The list below ranks insurance premiums for the most economical automobiles to insure in Illinois.

Cheapest Vehicles to Insure in Chicago, IL
Vehicle Make and Model Estimated Cost for Full Coverage
Honda Accord LX 4-Dr Sedan $1,848
Ford Explorer XLT 2WD $2,070
Ford Escape XLS 2WD $2,116
Honda CR-V EX-L 2WD $2,163
Toyota Camry SE $2,299
Hyundai Elantra GLS 4-Dr Sedan $2,306
Jeep Wrangler Sport Islander Package 4WD 2-Dr $2,326
Chevrolet Equinox LTZ AWD $2,339
Jeep Grand Cherokee SRT-8 4WD $2,349
Toyota Prius $2,342
Ford F-150 FX2 Super Cab 2WD $2,373
Chevrolet Silverado 3500HD LTZ Crew Cab 2WD $2,425
Chevrolet Silverado Crew Cab Hybrid 2WD $2,453
Ford Edge SEL 2WD $2,459
Chevrolet Silverado 2500HD LTZ Crew Cab Diesel 4WD $2,496
Kia Optima SX $2,499
Toyota RAV4 Sport 2WD $2,505
Dodge Ram 3500 Mega Cab Laramie 2WD $2,539
Dodge Grand Caravan CV $2,547
Chevrolet Malibu LT $2,551
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Data 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-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Information does not factor in specific garaging location which can decrease or increase price quotes greatly.

Based on these rates, you can infer that cars like the Honda Accord, Ford Explorer, Ford Escape, and Honda CR-V are a few of the less-costly vehicles to insure for college grads.

The illustration below highlights how deductible choice can affect yearly insurance costs when trying to find cheap insurance for college graduates. The data assumes a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

The data above shows that a 40-year-old driver could pocket $206 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $312 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old category, have the ability to save up to $526 every year by using a higher deductible. When raising deductibles, it is important to have enough in a savings account to offset the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Get discounts on Chicago car insurance rates

Auto insurance for college grads in Chicago, ILInsurers that provide policies for college graduates may provide policy discounts that could reduce prices by 40% or more if you are eligible for them. A few of the larger companies and a selection of discounts can be read below.

The information below visualizes the comparison of auto insurance rates with and without discounts applied to the premium. The premiums are based on a female driver, a clean driving record, no at-fault accidents, Illinois state minimum liability limits, full coverage, and $1,000 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with claim-free, homeowner, safe-driver, accident-free, vehicle safety, and multiple policy discounts applied. In this example, theamount saved on auto insurance for college graduates is 28% or $292.

Picking the highest-rated car insurance company can be difficult considering how many choices drivers have in Chicago. The company ratings in the lists below could help you analyze which coverage providers to look at comparing rate quotes with.

These rankings are only comprised of companies with a national presence, so companies without a large exposure are not taken into consideration for this list. If you wish to compare prices from these and other top-rated companies, click this link.

Top 10 Major Auto Insurance Companies Overall in Chicago

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

Top 10 Major Auto Insurance Companies in Chicago Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. AAA Insurance
  7. GEICO
  8. Safeco Insurance
  9. Mercury Insurance
  10. Esurance

The insurance agencies below can probably aid you in deciding which coverages are best, as many consumers aren’t sure which coverage to buy and prefer to have a little guidance when shopping for cheaper insurance for college grads. It can be complicated to find the best policy yourself, and insurance agents licensed in the state of Illinois can provide satisfaction knowing you have sufficient protection if you have a claim. To find a Chicago insurance agency closest to you, click the button below the list.

Illinois Vehicle Auto Insurance (Xpert)
1858 W 18th StChicago, IL 60608(312) 226-1033

Great Northern Insurance Agency
5632 S Pulaski RdChicago, IL 60629(773) 838-3900

Talro Insurance Agency
4900 W Belmont AveChicago, IL 60641(773) 205-8255

Linda Kuczka – State Farm Insurance Agent
954 W Webster AveChicago, IL 60614(773) 975-9111

Greg King – State Farm Insurance Agent
5508 S Lake Park AveChicago, IL 60637(773) 643-6200

More Chicago, IL insurance agents