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How much is car insurance in Chicago?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it costs about the same to insure your vehicle in Chicago as it does in the rest of Illinois.
Conversely, car insurance rates in Chicago are more affordable than the national average. The average monthly payment in Chicago is about $29 cheaper than the rate for the rest of the United States.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect the bill you'll see each month.
But don't worry, we've broken down the average rate for Chicago residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
The older you are, the more experienced you are on the roads. When it comes to auto insurance rates, that experience pays off. According to the table above, you can see that 18-24-year-olds pay significantly more than drivers 65 and older.
You can expect to see a decrease in your monthly premium drop about once a decade or so. That said, once you hit retirement age, your rates may rise again in Chicago.
Average Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. In Chicago, although women do pay slightly less on their monthly insurance rates, the cost is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can vary wildly depending on your driving record. Drivers who avoid accidents and tickets will pay significantly lower rates than those with infractions. In Chicago, drivers with one accident on their record will experience rates around $61 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $59 on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$56|
|15 Years or Older||$52|
In terms of affordable coverage, the cheapest vehicles to insure in Chicago are usually trucks and vans, at $47 per month.
SUV drivers will see rates of about $49 to insure their vehicle, while car owners by and large pay around $53 per month.
Vehicle age also plays a role in your monthly payment. Generally, newer vehicles are going to cost the most to insure. Once your car is around 5 years old however, your rates may start to dip back down a bit. In Chicago, the most expensive vehicles to insure are vehicles two-to -three years old.
The age of your vehicle also plays a role in your monthly payment. Overall, newer vehicles are going to cost the most to insure. However, your rates may start to drop back down once your car is more than 5 years old. In Chicago, for example, the most expensive vehicles to insure are vehicles two-to-three years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$54|
Generally, married policyholders will pay slightly less for car insurance. This usually boils down to owners having multiple vehicles on the same policy, something many companies award special discounts for.
The difference in rates based on relationship status in Chicago is about $12 a month, with married couples paying less for coverage than single drivers.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$71|
One other element taken into consideration is your housing situation. If you rent your home or apartment, expect to pay around $5 a month more than if you own your own home in Chicago. But if you live with your parents, you can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Chicago, IL
Recent trends in car insurance for Chicago drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when deciding when and where to shop.
Auto insurance rates in Chicago had been increasing from 2017-2019, before steadying out in 2020. They finished down in 2022, at $39 a month
How does Chicago compare to neighboring areas?
Why are car insurance rates in Chicago different from other areas?
There are several factors car insurance companies take into consideration when figuring out how much to charge for coverage. Many factors affecting your policy are based around your home address. These factors include things like:
- Off-street parking access
- Total amount of drivers in the area
- Regional crime rates
- Road Safety (total number of local car accidents)
- Local regulations
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to learn more.
How can I find the cheapest car insurance in Chicago?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
But wait! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions about your driving profile, and you'll be comparing the cheapest quotes from loads of the car insurance companies offering coverage in Chicago.
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Chicago Insurance FAQs
What factors affect car insurance quotes in Chicago?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your gender and age, but also factors like your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Chicago different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Chicago?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Chicago?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Chicago or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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