It’s hard to avoid all the catchy commercials from insurers like Progressive and Nationwide that make promises of the cheapest rates, so drivers just need to choose the one with the best commercial, right?
It’s just not that simple, as there are a whole bunch of unknown factors such as how high your deductibles should be, the vehicle you drive, and the amount of liability coverage you want, that all have an effect on the price of a policy. This article delves into the best ways to save on auto insurance and will hopefully give the reader a jump start in finding the best auto insurance in Chicago.
The type of vehicle needing coverage is one of the primary factors when comparing the lowest-priced car insurance for unemployed drivers. Vehicles with limited top-end speed, good crash test ratings, or a positive history of liability claims will cost significantly less to insure than higher performance models. The table below features coverage premiums for a number of the cheaper vehicles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $2,292 |
| Volkswagen Jetta S 4-Dr Sedan | $2,366 |
| Toyota Camry LE | $2,372 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $2,404 |
| Ford F-150 XLT Crew Cab 4WD | $2,411 |
| Honda CR-V EX-L 4WD | $2,510 |
| GMC Sierra SLT Extended Cab 4WD | $2,536 |
| Jeep Grand Cherokee SRT-8 4WD | $2,546 |
| Dodge Grand Caravan CV | $2,571 |
| Chevrolet Silverado 3500HD LTZ Crew Cab 2WD | $2,629 |
| Nissan Rogue SL AWD | $2,661 |
| Nissan Altima 2.5 S 2-Dr Coupe | $2,706 |
| Chevrolet Equinox LS AWD | $2,712 |
| Toyota Prius | $2,722 |
| Dodge Ram Quad Cab TRX4 Off Road 4WD | $2,751 |
| Find Cheaper Rates Go | |
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Prices do not factor in vehicle location which can decrease or increase auto insurance rates considerably.
Looking at the data, models like the Ford Escape, Volkswagen Jetta, Toyota Camry, Jeep Wrangler, and Ford F-150 will be a few of the more affordable vehicles to insure for the unemployed.
For the unemployed, one of the largest criteria that are looked at to determine the price you pay for insurance is where your car is garaged. Areas with more people or more claims are more likely to pay higher prices, whereas areas with less crime or weather claims benefit from lower prices.
The following table lists the most expensive places in Illinois for unemployed drivers to purchase a policy in. Chicago is ranked #2 with the annual price of $1,484 for the average policyholder, which is about $124 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Cicero | $1,588 |
| 2 | Chicago | $1,484 |
| 3 | Skokie | $1,447 |
| 4 | Berwyn | $1,406 |
| 5 | Des Plaines | $1,248 |
| 6 | Oak Lawn | $1,243 |
| 7 | Evanston | $1,238 |
| 8 | Waukegan | $1,212 |
| 9 | Mount Prospect | $1,205 |
| 10 | Joliet | $1,169 |
| 11 | Orland Park | $1,138 |
| 12 | Tinley Park | $1,132 |
| 13 | Bolingbrook | $1,128 |
| 14 | Schaumburg | $1,123 |
| 15 | Elgin | $1,117 |
| 16 | Palatine | $1,109 |
| 17 | Rockford | $1,107 |
| 18 | Arlington Heights | $1,106 |
| 19 | Peoria | $1,092 |
| 20 | Aurora | $1,075 |
| 21 | Springfield | $1,070 |
| 22 | Decatur | $1,055 |
| 23 | Naperville | $1,042 |
| 24 | Bloomington | $980 |
| 25 | Champaign | $933 |
| Find Cheaper Insurance Go | ||
Rates are estimated as zip code location can modify rates significantly.
Finding out which company offers the best insurance rates for unemployed drivers involves a tad more effort in order to find the lowest price quote. Each auto insurance company has a different process to establish rates, so let’s take a look at the insurance companies with the overall best prices in Illinois.
It’s a good idea to know that Chicago insurance rates are impacted by many things which can significantly increase or decrease the price of coverage. Simply having a birthday, buying a home instead of renting, or getting a ticket for running a stop sign may prompt premium changes that can cause some rates to be much cheaper than others.
Find the Best Cheap Insurance for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $769 |
| 2 | Rockford Mutual | $838 |
| 3 | Titan | $886 |
| 4 | Erie | $914 |
| 5 | Cincinnati Insurance | $924 |
| 6 | State Farm | $972 |
| 7 | Utica National | $984 |
| 8 | USAA | $988 |
| 9 | Travelers | $990 |
| 10 | SECURA | $995 |
| 11 | Auto-Owners | $1,033 |
| 12 | Safeco | $1,063 |
| 13 | GEICO | $1,074 |
| 14 | Amica | $1,076 |
| 15 | Farmers | $1,135 |
| 16 | California Casualty | $1,161 |
| 17 | Progressive | $1,219 |
| 18 | Esurance | $1,221 |
| 19 | State Auto | $1,223 |
| 20 | MetLife | $1,257 |
| Get Personalized Rates Go | ||
The Hartford quotes some of the most affordable car insurance rates in Chicago at around $769 per year. Rockford Mutual, Titan, Erie, and Cincinnati Insurance also rank well as some of the cheapest Chicago, IL car insurance companies.
As shown in the rates above, if you are a policyholder with Rockford Mutual and switched to The Hartford, you might achieve a yearly price reduction of in the neighborhood of $69. Illinois drivers with Titan may save as much as $117 a year, and Erie insureds might lower prices by $145 a year.
To find cheaper insurance rates for your vehicle, click here to start your free quote or quote prices from the following companies.
Be aware that those rates are averages across all ages of drivers and types of vehicles and are not factoring in an exact location for unemployed drivers. So the insurer that fits your needs best 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 information and specific vehicle type.
Difference between liability only and full coverage rates
Saving on insurance is the goal of most drivers, and an easy way to find cheaper insurance for unemployed drivers is to not buy comprehensive and collision coverage. The information below shows the difference between insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Illinois. The premium estimates are based on no violations or claims, $100 deductibles, single status, and no discounts are factored in.
As an average, full coverage costs an extra $2,046 per year more than carrying just liability coverage. Many of you may wonder if paying for full coverage is a waste of money. There is no exact formula to delete full coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
There are some scenarios where removing full coverage is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Illinois insurance companies ranked
Insuring your vehicle with the right auto insurance company is hard considering how many different companies insure vehicles in Chicago. The company ratings below could help you analyze which auto insurers to look at buying from. The rankings below are for large insurance companies, so smaller companies are not taken into consideration for these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| Mercury Insurance | 87 | 95 | 87 | 84% | A+ | 88.3 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
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Data Source: Insure.com Best Car Insurance Companies
Why are you paying too much for Chicago car insurance?
Chicago insurance rates are calculated based on many things which can significantly increase or decrease the price of coverage. Simply getting older, moving across town, or getting a speeding ticket can trigger price changes that may make certain companies much cheaper than others.
In addition, auto insurance companies change premium rates every year or even multiple times each year to adjust for unexpected claims or profits. A period of increased losses may result in a rate increase, while profitable underwriting can result in lower-priced Chicago car insurance rates.
To help illustrate this point, the graph below shows a variety of companies that have the cheapest car insurance in Chicago, IL for a 35-year-old female driver with no accidents, a clean driving record, and solid credit. Based on her current rating profile, The Hartford might offer the best car insurance rates in Chicago at $1,234 per year. This is $115 less than the average price paid by Illinois drivers of $1,349. Rockford Mutual, Erie, Titan, and Cincinnati Insurance are the rest of the most affordable Chicago, IL auto insurance companies.
In this example, we will give the driver from the first rate comparison some claims, slightly worse credit, and a couple of points charged on her driving record. Because each company uses their own formula for setting prices, comparing rates may now present a slightly different list of affordable Chicago car insurance companies as shown below.
USAA now has the best price in Chicago with Travelers, SECURA, State Farm, and Auto-Owners completing the list. This shows why consumers need to take the time to spend some time comparing rates to find the most affordable insurance quotes for unemployed drivers. Insurance prices are made up of many risk factors and change frequently, so the cheapest option the last time you shopped your coverage around may now be quite expensive.
If you aren’t sure which coverage you need and prefer to get help from a professional when buying car insurance for unemployed drivers, the insurance agencies listed below can help you make a decision which car insurance policy is best. To find an agent using an interactive map, click the button at the bottom of the list.
Eagle Insurance Agency
3517 N Spaulding Ave – Chicago, IL 60618 – (773) 463-7576
Judith Gleason – State Farm Insurance Agent
2643 N Harlem Ave – Chicago, IL 60707 – (773) 637-8547
Riehn Insurance
4541 N Lincoln Ave – Chicago, IL 60625 – (773) 561-4200
More insurance agents in Chicago, IL
How to find more affordable insurance for unemployed drivers
Here are some of the recommended thrifty solutions that can help drivers get cheap car insurance.
- Vehicles with safetly features generally cost less to insure
- Older vehicles may not need full coverage
- Higher deductibles save money
- Accident-free drivers may qualify for discounts
- Just one traffic violation will increase your rates
- Maintaining good credit helps earn cheaper rates
- Shop around once a year for cheaper rates
The last tip is extremely important, as was pointed out in the article above. Prices charged by companies adjust often, so you should be ready to change insurance companies if you find a cheaper price. Loyalty to a specific company is fine, but we do not recommend it if that devotion results in you overpaying lots of hard earned cash every month. Now is a great time to shop around to find cheaper car insurance for unemployed drivers in Chicago.