First Chicago vs. State Farm: Which Company is the Best Fit for You?

Quick Facts

• In general, First Chicago offers slightly cheaper prices than State Farm
• First Chicago offers more affordable rates for residents of suburban areas
• State Farm tends to be a much more affordable option for policyholders who live in urban areas

First Chicago or State Farm: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You might have narrowed it down to First Chicago or State Farm as potential options, but which company has less expensive premiums for car insurance?

Looking at nationwide averages, State Farm is around $2 more a month than First Chicago.

That being said, First Chicago may not be the most affordable or best option for each driver out there. Auto insurance carriers use a ton of complex algorithms to determine rates, so depending on how old you are or how clean your driving record is (among an array of other factors), you could see wildly different prices from the ones above.

Luckily, we've broken down average premiums from both First Chicago and State Farm by multiple different rate factors, so read on to find out which carrier is the best for you.

First Chicago vs. State Farm: Average Car Insurance Rates by State

First Chicago and State Farm only compete against each other in Illinois, where State Farm offers the cheaper average rates. State Farm drivers tend to pay about $44 per month less on average compared to drivers who use First Chicago for their car insurance.

That being said, there are plenty of other factors that go into your insurance payment than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for auto insurance than any other group of drivers out there on the road. Normally, that's because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But that doesn't mean teen drivers can't still save money on their car insurance. For example, 18-year-old drivers pay an average of 1% less a month by choosing First Chicago over State Farm.

However, with both companies, you'll see your prices drop significantly by the time you turn 25. For example, average rates for First Chicago policyholders decrease almost 60% and State Farm's premiums lower nearly 60% over that time.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest prices out there.

When looking at First Chicago and State Farm specifically, which company is best for retired drivers? In this case, State Farm has the slight edge, with premiums about $3 per month less than First Chicago. Even so, the difference is only around 5%, so other variables (like your credit score or where you live) will likely come into play when determining which carrier has the lowest rates for you.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance prices tend to be more affordable for married couples than they are for those who are single. That's generally because married policyholders tend to own and insure more than one vehicle, which can often earn you a discount.

If you're in the market for auto insurance, First Chicago tends to have the cheapest average premiums regardless of marital status, with prices about $0 cheaper for single drivers and around $4 less expensive for married drivers.

First Chicago or State Farm: Average Rates by Gender

Men are statistically more likely than women to get into accidents and get tickets. That means when it comes to insurance men will usually end up paying a little more.

Men typically pay about 7% more a month than women with First Chicago, and around 7% more with State Farm.

Looking at the data for each company specifically, First Chicago comes out on top for both men and women, with average rates 1% less for men and 1% cheaper for women.

First Chicago vs. State Farm: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that auto insurance can be a complicated subject for most people. There are so many different limits and terms that it can make it pretty confusing to find the right policy for you.

The two most common policies end up falling into two different types of coverage -- liability coverage (which provides property damage and bodily injury coverage for other drivers if you cause a collision) and full coverage (which usually refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

When it comes to state minimum liability insurance, First Chicago has the edge, while State Farm offers the most affordable average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $25 with First Chicago Insurance, while full coverage comes out to be about $25 more affordable with State Farm.

Is First Chicago or State Farm Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that speeding tickets and at-fault collisions lead to higher rates, but which carrier -- First Chicago or State Farm -- has the lowest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use First Chicago for their insurance can normally expect their monthly bill to go up around 24% after getting a speeding ticket. State Farm policyholders can expect a less drastic increase of about 14%.

However, First Chicago tends to offer the best prices for drivers both with clean records and with a ticket -- their rates are around 19% cheaper for drivers with clean records and 7% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

First Chicago policyholders who get in an accident can expect to see their rates rise by over 25%, while those who have insurance through State Farm will see around a 20% increase.

At the end of the day, drivers who use First Chicago end up with the cheaper prices after an accident, with average premiums coming in at $146 compared to State Farm's $163.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your auto insurance bill. First Chicago drivers usually see a 52% raise in their car insurance prices after a DUI charge, while State Farm will generally increase premiums by about 25%.

How does Credit Score Impact First Chicago and State Farm Rates?

Did you know many insurance companies take into account your credit score when determining prices? This isn't true for everyone (for example, Michigan and California are two states that ban the practice entirely), but it does affect quite a few drivers out there.

Auto insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with more affordable rates.

So, which company offers the best premiums for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is First Chicago or State Farm Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in how much car insurance companies will charge for coverage. Normally, those who drive less will end up with cheaper prices since there's less of a chance of causing a collision and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much First Chicago charges. However, there's a small difference in monthly rates for State Farm, with drivers who put 6,000 miles on their car every year paying around $13 less each month compared to those who drive 12,000 miles annually.

First Chicago or State Farm: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a pretty big role in how much you pay for insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

State Farm boasts the cheapest average premiums in rural and urban areas, while First Chicago wins in suburban areas.

For drivers in urban ZIP codes, State Farm's average prices are about $185 per month compared to First Chicago's $196. Drivers in suburban ZIP codes pay around $128 with First Chicago compared to State Farm's $161 a month. Those in rural areas can expect to pay about $127 per month with State Farm compared to First Chicago's $145.

First Chicago vs. State Farm Discounts

You want to save as much money as you can, right? The best way to do that is by taking advantage of as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you qualify for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both First Chicago and State Farm so that you can find the carrier that has the most discounts and, therefore, the largest savings.

State Farm knocks First Chicago out of the park when it comes to the sheer number of discounts available, offering 14 more discounts than First Chicago.

Both carriers offer quite a few of the same discounts -- like discounts for being a defensive driver, discounts for getting driver training, and passive restraint discounts -- but State Farm also offers discounts for annual mileage, distant student, drive safe & save, and more.

On the other hand, First Chicago has a proprietary discount of their own -- a advance quote discounts.

Final Thoughts: Is First Chicago or State Farm Best for You?

So, you've seen how different factors can affect your insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but at the end of the day, is First Chicago or State Farm the right one for you and your specific profile and needs?

First Chicago might be best for you if....

• Your driving record includes a DUI charge.
• You want the most robust protection via a "full coverage" policy.
• You're of retirement age and want to take advantage of lower premiums.

State Farm might be best for you if...

• You have received a ticket within the last few years.
• Your driving record contains an at-fault accident.
• You want to save money while purchasing auto insurance for a teenager.

Hopefully, this guide helps you get a good idea of the differences between First Chicago and State Farm. We also hope we've given you the information you need to make the best decision when it comes to your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple companies, not just First Chicago and State Farm. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

First Chicago vs. State Farm FAQs

Is First Chicago or State Farm cheaper?

First Chicago is the less expensive of the two companies when looking at national average rates, with policies averaging $156 a month with First Chicago and $158 for State Farm. But that doesn't mean First Chicago will be the most affordable carrier for everyone, since there are a range of different variables that come into play when it comes to your insurance bill.

Who is better, First Chicago or State Farm?

Unfortunately, the real answer is "it depends.". One company is not "better" for every policyholder -- it all depends on what your unique car insurance profile looks like. For example, State Farm is cheaper for drivers who have already retired, while First Chicago offers more affordable prices for single policyholders.

Why do First Chicago and State Farm offer me different rates?

Auto insurance carriers use several different factors when calculating the premiums they charge. Things like age, your driving record, where you live, gender, and sometimes even things like your credit score can all be taken into consideration. Both First Chicago and State Farm calculate rates differently, so it's likely they'll offer different prices. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from a variety of different companies.

How do I know if First Chicago or State Farm is right for me?

The only way to find the insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the lowest premium. And maybe you'll find that the best carrier for you isn't First Chicago or State Farm at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.