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

Quick Facts

• In general, First Chicago offers slightly more affordable premiums than Travelers
• First Chicago offers more affordable rates for policyholders whose driving record contains an at-fault collision
• Travelers tends to be a much cheaper option for policyholders who live in rural neighborhoods

First Chicago or Travelers: 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've maybe even narrowed your search down to First Chicago or Travelers as potential options, but which one will save you the most?

As you can see, Travelers is around $11 more a month than First Chicago when looking at the national average rates for auto insurance.

But that doesn't necessarily mean First Chicago will be the less expensive option for every single driver. Car insurance carriers vary their prices depending on things like how good your credit score is, where you live, how clean your driving record is, how old you are, and a variety of other factors, so premiums will change quite a bit from person to person.

Luckily, we've broken down average rates from both First Chicago and Travelers by several different rate factors, so read on to find out which company is the best for you.

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

First Chicago and Travelers only compete against each other in Illinois, where Travelers offers the cheaper average premiums. Travelers drivers tend to pay about $33 per month less on average compared to drivers who use First Chicago for their insurance.

But there's more to auto insurance than just your home state. As we mentioned above, there's a lot of things that go into how car insurance companies determine your prices. Keep reading to find out 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. That's usually because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have First Chicago for their insurance pay 1% less than those who use Travelers.

However, both carriers will offer you dramatically lower prices by the time drivers turn 25. For example, average premiums for First Chicago policyholders drop about $200 and Travelers's rates lower over $200 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the cheapest car insurance prices you can find. After all, they've likely been driving for quite some time, which generally reduces their chances of collisions and other infractions that can raise premiums.

So, which carrier offers the best prices to retired drivers? First Chicago gets the edge here, with average premiums coming in at around $114 monthly compared to Travelers's $132.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly cheaper insurance rates than single drivers. This usually boils down to married couples having more than one vehicle on their policy -- something a lot of auto insurance companies will reward with discounts.

For those who are single, the difference in average premiums between these two carriers is not very significant, with First Chicago rates coming in at about 4% less than Travelers's. But for married drivers, the advantage is clear - First Chicago offers the most affordable average prices.

First Chicago or Travelers: Average Rates by Gender

Because women are less likely to get into collisions and get tickets, they have a decreased chance of filing a claim with insurance. So, insurance companies will tend to charge women less than men.

On average, men see rates around 7% a month higher with First Chicago, but with Travelers, the difference is closer to 6% per month.

When it comes to the lowest premiums for each gender, First Chicago comes out as the most affordable option for both genders. On average, male drivers save about $10 a month and women save about $11 with First Chicago compared to the average Travelers policyholder.

First Chicago vs. Travelers: 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.

Car insurance isn't the easiest topic to understand. There are a bunch of different coverages that account for many different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

That being said, the most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability coverage).

When it comes to state minimum liability limits, First Chicago has the edge, while Travelers offers the lowest average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $35 with First Chicago Insurance, while full coverage comes out to be around $15 more affordable with Travelers.

Is First Chicago or Travelers Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with accidents and speeding tickets on your record, but which of these two carriers offers the cheapest premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use First Chicago for their auto insurance can normally expect their monthly bill to go up about 24% after getting a speeding ticket. Travelers policyholders can expect a less drastic increase of around 20%.

Even so, First Chicago tends to offer the best prices for drivers both with a ticket and with a clean record, offering rates that are $19 and $16 less expensive, respectively, compared to Travelers.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through First Chicago can expect to see about an $37 -- or around 25% -- rise in their auto insurance prices. Drivers who use Travelers for their car insurance will see a monthly bill about $45 (or 26%) more expensive after reporting a collision to their auto insurance company.

At the end of the day, the cheaper rates come from First Chicago, with average premiums coming in at $146 compared to Travelers's $173.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- typically a lot more than an accident or speeding ticket. For example, First Chicago increases average prices by more than $100 per month -- that's more than a 50% increase.

How does Credit Score Impact First Chicago and Travelers Rates?

Often times, your credit score can come into play when companies calculate your monthly bill. This isn't true for everyone (Hawaii, for example, has banned the use of credit score as a car insurance factor) but it might come into play for several policyholders.

The reasoning insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with more affordable rates.

Looking at First Chicago and Travelers specifically, which company has the lowest premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

Did you know that the amount of time you spend in your car have a considerable impact on your monthly car insurance bill? Usually, those who drive less will end up with less expensive 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 premiums for Travelers, with drivers who put 6,000 miles on their car annually paying around $5 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, First Chicago is the more affordable carrier.

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

Where you park your vehicle can have a pretty big impact on your monthly auto insurance cost. Typically, those who live in urban areas will pay more than drivers in rural areas since there are a lot more cars on the roads where they live.

When comparing these two companies side-by-side, First Chicago normally comes out as the less expensive option for drivers in urban and suburban areas, while Travelers wins in rural areas.

Those in rural areas can expect to save about 6% with Travelers compared to First Chicago. People who live in suburban areas pay around 20% less with First Chicago compared to Travelers. For policyholders in urban ZIP codes, First Chicago Insurance's average prices are about 4% less than Travelers.

First Chicago vs. Travelers Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

The hard part is finding all of the discounts you can take advantage of, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts First Chicago and Travelers offer their customers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Travelers knocks First Chicago out of the park when it comes to the sheer number of discounts available, offering 16 more discounts than First Chicago.

Both carriers offer a lot of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, and multi-policy discounts -- but Travelers also offers discounts for alternative fuel, continuous insurance, COVID-19 relief, and more.

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

Final Thoughts: Is First Chicago or Travelers Best for You?

You've seen the role certain variables have on your car insurance and the different discounts companies offer. But, when it comes down to it, which carrier is the best carrier for you and your specific driver profile?

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

• You haven't received any speeding tickets or been in an accident in the last few years.
• Your home is located in the suburbs.
• You're of retirement age and want to take advantage of lower rates.

Travelers might be best for you if...

• Your driving record includes a DUI charge.
• You want the most robust protection via a "full coverage" policy.
• Your neighborhood is in a rural area.

Hopefully, this guide helps you get a better idea of the difference between First Chicago and Travelers. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple carriers, not just First Chicago and Travelers. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

First Chicago vs. Travelers FAQs

Is First Chicago or Travelers cheaper?

First Chicago is the cheaper of the two carriers when looking at national average prices, with policies averaging $156 a month with First Chicago and $167 for Travelers. That being said, that doesn't mean First Chicago will be the cheapest company for every driver, since there are multiple different factors that are considered when it comes to your insurance payment.

Who is better, First Chicago or Travelers?

Unfortunately, the answer truly is "it depends.". No single carrier is necessarily "better" for each policyholder -- it all boils down to your unique car insurance profile.

Why do First Chicago and Travelers offer me different rates?

Auto insurance companies use lots of different variables when determining the rates they charge. Factors such as gender, age, your driving record, where you live, and sometimes even things like your credit score can all be taken into consideration. Both First Chicago and Travelers calculate premiums using different formulas, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from a variety of different carriers.

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

The only way to find the insurance carrier that's right for you is by getting quotes from several companies 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 information once and you'll get quotes from dozens of your local top auto insurance carriers for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't First Chicago or Travelers 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.