Average car insurance cost in Chicago, IL

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

According to data from Insure.com, the average annual cost of car insurance in Chicago, Illinois is $1,930. The auto insurance rates in Chicago is $398 more than the state average and $35 more than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Chicago, the average car insurance rates by age and gender, and how much car insurance cost in Chicago depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Chicago. Keep reading to learn more.

Cheap car insurance companies in Chicago

Progressive provides the best value for car insurance in Chicago with coverage limits of 100/300/100, costing $1,366 annually.

A close second is Auto Club Group – ACG (AAA), which offers car insurance at $1,402 per year.

Read about the best car insurance companies.

Average car insurance cost in Chicago by coverage limits

The average car insurance rates in Chicago based on coverage types are as follows:

• State minimum coverage: $565 per year (limits are 25/50/25)
• Liability only coverage: $644 per year (limits are 50/100/50)
• Full coverage: $1,930 per year (limits are 100/300/100)
• Non-owners coverage: $367 per year

In many states, it’s a legal requirement for drivers to maintain the state minimum coverage, although these requirements vary by state. The state minimum coverage does not cover vehicles listed on your policy in an at-fault accident.

To avoid the risk of insufficient coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage, especially if you frequently borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Chicago

The average car insurance rate for a female driver in Chicago, Illinois, is $1,933 per year.

While the rate for a male driver is $1,927 per year, which is $6 less than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Chicago

Car insurance rates in Chicago, are highest for teens at $6,209 per year or $517 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $3,189 annually for their car insurance, which is $3,020 less than what teens pay for their insurance coverage.

In Chicago, adult drivers pay an average of $1,960 per year for car insurance, while senior drivers pay $1,925 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Chicago

Examining car insurance rate trends in Chicago, Illinois, we observe a downward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced decrease overall, with an increase of 15% or $331.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Chicago, are higher than the average insurance cost in Illinois. Shopping around and taking advantage of available discounts, drivers in Chicago can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

 . .

Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.