It’s hard to miss the catchy advertisements from car insurance companies like Farmers and State Farm that say if you switch you’ll get enormous savings. So you should just pick one randomly, right?
It’s not that simple, unfortunately, as there are many unknown elements such as if you are married or single, the likelihood of vehicle theft where you live, if you are a homeowner, and how many years you have been driving, that all help calculate your car insurance rates. We will attempt to cover the best ways to avoid high prices and will hopefully give you a jump start in finding the best auto insurance.
One of the many things that aid in calculating auto insurance rates is where you call home. Regions with more people or even just more weather-related claims will most likely have higher rates, whereas areas with less people or fewer weather incidents have the benefit of cheaper car insurance.
The table below rates the highest-priced places in Illinois for used cars to buy auto insurance in. Chicago is listed at #2 with an annual rate of $1,484 for car insurance, which is approximately $124 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Cicero | $1,541 |
| 2 | Chicago | $1,484 |
| 3 | Berwyn | $1,449 |
| 4 | Skokie | $1,447 |
| 5 | Des Plaines | $1,286 |
| 6 | Evanston | $1,276 |
| 7 | Oak Lawn | $1,269 |
| 8 | Mount Prospect | $1,217 |
| 9 | Waukegan | $1,188 |
| 10 | Orland Park | $1,173 |
| 11 | Tinley Park | $1,154 |
| 12 | Rockford | $1,153 |
| 13 | Joliet | $1,145 |
| 14 | Arlington Heights | $1,139 |
| 15 | Schaumburg | $1,123 |
| 16 | Elgin | $1,117 |
| 17 | Bolingbrook | $1,116 |
| 18 | Palatine | $1,109 |
| 19 | Peoria | $1,092 |
| 20 | Aurora | $1,085 |
| Compare Prices Now Go | ||
Prices are comparative as the specific geographic location can impact coverage prices greatly.
The car, truck, or SUV you are insuring is a large factor when comparing quotes for the most affordable insurance for used cars. Vehicles with high performance, poor crash test ratings, or high incidents of liability claims will cost significantly more to insure than more modest models. The information below showcases coverage rates for some of the most cost-effective vehicles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $2,091 |
| Hyundai Elantra SE Touring Station Wagon | $2,218 |
| Ford Escape Limited 4WD | $2,227 |
| Toyota Prius | $2,266 |
| Volkswagen Jetta S 4-Dr Sedan | $2,422 |
| Chevrolet Impala LT | $2,428 |
| Toyota RAV4 Sport 2WD | $2,422 |
| Honda Civic LX 4-Dr Sedan | $2,504 |
| Honda Accord EX-L 4-Dr Sedan | $2,542 |
| Jeep Grand Cherokee Limited 2WD | $2,598 |
| Jeep Wrangler Sahara 4WD 2-Dr | $2,630 |
| Ford Explorer XLT 4WD | $2,638 |
| Hyundai Sonata SE 4-Dr Sedan | $2,724 |
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Data rating is 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 claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Rate quotes do not factor in Chicago, IL location which can impact insurance rates substantially.
Based upon the rates shown, cars like the Honda CR-V, Hyundai Elantra, Ford Escape, Toyota Prius, and Volkswagen Jetta are most likely to be a few of the cheaper vehicles to insure for pre-owned vehicles.
Deciding which companies have the lowest-priced insurance rates for used cars will involve more work than just quoting one company’s rates. Each auto insurance company has a proprietary method for establishing rates, so we’ll take a look at the most competitive insurance companies in Illinois.
It’s a good idea to be aware that Chicago, IL insurance rates are influenced by many factors that can increase the price you have to pay. Getting older, getting divorced, or getting a speeding ticket may cause policy rate changes resulting in some companies being cheaper than before.
Find Cheaper Auto Insurance for Used Cars
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $746 |
| 2 | Rockford Mutual | $813 |
| 3 | Erie | $878 |
| 4 | Titan | $878 |
| 5 | Cincinnati Insurance | $924 |
| 6 | SECURA | $965 |
| 7 | Utica National | $975 |
| 8 | USAA | $979 |
| 9 | Travelers | $981 |
| 10 | State Farm | $982 |
| 11 | Auto-Owners | $1,022 |
| 12 | Safeco | $1,063 |
| 13 | GEICO | $1,085 |
| 14 | Amica | $1,087 |
| 15 | Farmers | $1,146 |
| 16 | Esurance | $1,185 |
| 17 | California Casualty | $1,197 |
| 18 | Progressive | $1,219 |
| 19 | MetLife | $1,257 |
| 20 | State Auto | $1,273 |
| View More Rates Go | ||
The Hartford generally has some of the lowest car insurance rates in Chicago at around $746 annually. This is $603 less than the average rate paid by Illinois drivers of $1,349. Rockford Mutual, Erie, Titan, and Cincinnati Insurance also are some of the more affordable Chicago, IL insurance companies.
As the example above demonstrates, if you have coverage with Rockford Mutual and switched to The Hartford, you could see yearly savings of in the vicinity of $67. Illinois drivers with Erie may save as much as $132 a year, and Titan policyholders might lower prices by $132 a year.
These rates are averages for all ages of drivers and types of vehicles and do not take into consideration an exact zip code location for used cars. So the auto insurance company that is most affordable for your situation may not even be in the list above. That’s why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
Careless Chicago drivers pay higher rates
In a perfect world, the best way to enjoy low insurance prices in Illinois for pre-owned vehicles is to be a careful driver and avoid traffic citations and accidents. The example below highlights how speeding tickets and accident claims can raise premium costs for different ages of insureds. The costs are based on a married male driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.
The data in the chart shows the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,245. Receive two speeding tickets and the average cost surges to $1,709, an increase of $464 each year. Now throw in two accidents along with the two speeding tickets and the 12-month cost of insurance for used cars jumps again to an average of $3,659. That’s an increase of $2,414, or $201 per month, just for not driving attentively!
Discounts on Chicago auto insurance
Insurance providers that offer cheap quotes for used cars could also offer rate discounts that could lower prices by as much as 40% or more if you are eligible for them. A list of companies and a summarized list of policyholder discounts are included below.
- American Family has savings for defensive driver, air bags, accident-free, Steer into Savings, TimeAway discount, and early bird.
- Nationwide offers discounts for Farm Bureau membership, business or organization, family plan, good student, and defensive driving.
- MetLife has discounts for claim-free, defensive driver, good driver, good student, multi-policy, and accident-free.
- 21st Century offers premium reductions for 55 and older, anti-lock brakes, homeowners, student driver, theft prevention, and automatic seat belts.
- Farmers Insurance includes discounts for electronic funds transfer, youthful driver, homeowner, distant student, teen driver, and mature driver.
- Allstate may have discounts that include EZ pay plan discount, new car, good payer, utility vehicle, teenSMART discount, economy car, and FullPay discount.
The chart below shows the difference between annual premium costs with and without discounts being applied to the rates. The data is based on a male driver, no claims or violations, Illinois state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with homeowner, vehicle safety, multiple vehicle, safe-driver, claim-free, and accident-free discounts applied. When discounts are applied, the average amount saved each year on insurance for used cars is 28% or $511.
How to find the cheapest auto insurance for used cars
It’s not impossible to find cheaper rates, and here are some of the recommended penny-pinching solutions that can help drivers quote low-cost auto insurance.
- Bundle home or renters insurance to earn a discount on car insurance
- Prevent price hikes by avoiding at-fault accidents
- Good credit can mean cheaper rates
- Be a safe driver
- Don’t have frequent claims
- Raise your deductibles
- Compare rate quotes often
That last tip is particularly necessary, as was noted in the prior article. Auto insurance prices in Chicago can change in a short period of time, so drivers shouldn’t be resistant to switch to a new company if you find a cheaper price.
Sticking with a specific company is fine, but is isn’t recommended if your bullheadedness ends up costing you major coinage every year. It only takes a couple minutes to compare rates and find cheaper auto insurance for used cars.