Buying economical car insurance for a Kia Optima in Illinois relies on a lot of factors such as whether the vehicle is new, your address, and your driving record. Drivers will pay around $691 per year to insure their Optima, but that price is an estimation calculated based on a 40-year-old single female driver with full coverage and $1,000 deductibles.
There’s a high likelihood you aren’t exactly 40 years old or even a female, married instead of single, or maybe you just want liability only. Having different needs demonstrates why the best way to find cheap insurance prices for your Kia is to just compare rates yourself.
Find Cheaper Kia Optima Insurance
The trim level of your Optima tends to impact the yearly cost, so the price you will pay to insure a Optima LX trim level will cost $58 less than the insurance cost for the more expensive Optima SX version, as demonstrated by the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Optima LX | $120 | $242 | $384 | $22 | $114 | $882 | $74 |
| Optima EX | $136 | $284 | $384 | $22 | $114 | $940 | $78 |
| Optima SX | $136 | $284 | $384 | $22 | $114 | $940 | $78 |
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rates do not factor in vehicle location which can impact premiums significantly.
How to find a good Illinois auto insurance company
Picking the right auto insurance company can be a challenge considering how many companies are available to choose from in Chicago. The company rank data below could help you select which companies you want to consider comparing prices from.
The rankings below are only comprised of the largest companies in the United States, so smaller regional companies will not be included in these rankings. To compare prices from these and other competitive companies, simply click here.
| 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
Full coverage rates compared to liability-only
Reducing premiums for auto insurance should be important to most people, and one of the quickest ways to reduce the cost of insurance for a Kia Optima is to not insure for full coverage. The example below illustrates the difference between insurance premiums with full physical damage coverage and with liability coverage only. Data assumes no tickets, no at-fault accidents, $1,000 deductibles, single status, and no discounts are taken into consideration.
On average, comprehensive and collision coverage on your policy costs $1,488 per year over and above liability coverage. That is a large expense and it proposes the question if you should buy full coverage. There is no exact formula that works best for making the decision to drop physical damage insurance, but there is a general convention. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
There are some conditions where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage.
How violations and accidents impact rates
The easiest way to maintain the most affordable auto insurance prices in Chicago for an Optima is to be a safe driver and avoid getting tickets or having accidents. The diagram below illustrates how speeding tickets and at-fault fender-benders impact auto insurance rates for each different age group. The premiums are based on a single male driver, full coverage, $500 deductibles, and no discounts are taken into consideration.
In the example above, the average cost of a car insurance policy in Chicago per year with no accidents and a clean driving record is $1,557. Receive one speeding ticket and the average cost increases to $1,756, an increase of $199 each year. Now include one accident along with the one speeding ticket and the annual cost of auto insurance for a Kia Optima increases to an average of $2,308. That’s an increase of $751, or $63 per month, just for not driving safely!
The importance of comparing Optima insurance rates
Illinois auto insurance rates are impacted by many things that may substantially change the price of coverage. Simply getting older, buying another vehicle, or having an at-fault accident can trigger changes in premium that may make certain companies cheaper than others. Not only may your risk profile change, but companies amend premium rates as needed to reflect underwriting profits or losses. An unexpected high level of claims can cause higher prices, while long-term profits may produce lower-cost Optima insurance rates.
The data below shows a variety of companies that have the cheapest car insurance in Chicago, IL for a 30-year-old female driver with no violations or accidents, and good financial standing. If we look at prices based on her current situation, The Hartford offers the lowest car insurance rates in Chicago at $1,187 each year. This is $162 less than the average policy premium paid by Illinois drivers of $1,349. Rockford Mutual, Titan, Erie, and Cincinnati Insurance are the remaining cheapest Chicago, IL auto insurance companies.
Now let’s give the driver from the first example a claim, a lower credit score, and a stop sign violation. Due to the fact that every insurance company uses their own calculation for determining rates, comparing insurance quotes may now show a new list of the cheapest car insurance companies in Chicago as shown below.
SECURA now has the best auto insurance rate in Chicago, IL with Utica National, Travelers, State Farm, and Auto-Owners now being in the top five. This example shows why drivers need to compare as many rates as possible when trying to get the lowest insurance rates for a Kia Optima. Insurance rates can be determined by many things and change substantially, so the best option the last time you compared rates may now be costing you a lot of money.
How to find cheaper car insurance for a Kia Optima
The list below summarizes some penny-pinching ideas that can help you find more affordable car insurance.
- You will pay more if you get tickets or have at-fault accidents
- Increase your comprehensive and collision deductibles
- On older vehicles, drop full coverage
- Do not get into accidents
- Having too many claims will increase rates substantially
- Compare rates regularly and switch companies to save money
The last suggestion is highly crucial, as was stressed in the prior information. Insurance prices vary considerably, so drivers shouldn’t hesitate to buy a different policy if you can save money. Staying with the same car insurance company is fine, but it’s not a good idea if it’s costing you a lot of money every month. It takes less than five minutes to compare rates and find cheaper auto insurance for a Kia Optima in Chicago.