Finding the right auto insurance policy can feel like a tug of war between quality and price. But it’s often possible to find affordable car insurance that still offers the coverage you need. For example, there are several options for the best cheap car insurance in Chicago. Geico and Mercury offer full auto insurance coverage in the Chicago area for average prices of less than $1,200 per year, based on Bankrate’s rate survey. Close behind these two in price are Secura, State Farm, and Erie.
The average cost of full coverage auto insurance in Chicago is $2,069 per year, which equates to $172 per month. Minimum coverage auto insurance in the state costs an average of $627 per year.
Best Cheap Car Insurance Companies In Chicago
Geico, Mercury and Secura had the lowest average annual costs for full coverage, according to our analysis of rates from Quadrant Information Services. Bankrate also calculated a Bankrate Score for each rated company on a five-point scale using information from online third-party agencies such as JD Power, AM Best, S&P, the National Association of Insurance Commissioners (NAIC), and Moodys. While customer satisfaction and financial strength are some of the most important factors included in our assessments, we also consider affordability, coverage options and digital resources for policy and claims management. This information can help drivers make quick, informed decisions when looking for the best cheap car insurance in Illinois and Chicago.
Geico is a well-known insurer and one of the more financially stable auto insurance companies. It offers robust online and mobile app options for their policyholders and has relatively low annual averages for their car insurance. While there are many points in Geico’s favor, some feel it offers fewer additional coverage options than some competitors.
Learn more: Geico insurance review
Mercury offers some of the lowest rates on our list for the Chicago area and has been in the insurance industry for over 60 years. It offers competitive rates and comprehensive digital policy management tools and maintains a strong presence of local agents in the areas served. Unfortunately, Mercury currently only operates in 11 states and does not sell auto insurance outside of those states.
Learn more: Review Mercury Insurance
Secura is a lesser known insurance company, but could be a strong competitor for some drivers. Secura offers relatively low rates in many cases, and the company prides itself on maintaining a high standard of social responsibility. While the company offers competitive rates for bundled policies, they also only sell bundled policies. Drivers cannot take out car insurance with Secura themselves, but must bundle it with household contents insurance.
Learn more: Secura Insurance review
State Farm has been awarded the 2021 Bankrate Award for auto, home and life insurance in the past, thanks to its high level of customer service, competitive rates, digital policy management tools and accessible agents. However, despite the company’s many advantages, it does not have 24/7 customer service available.
Learn more: Review of state farm insurance
Erie has slightly higher average rates compared to some of the others on our list, but still competes strongly against the state and national average. In addition, this company scores high in the 2022 JD Power study on customer satisfaction. Still, Erie Insurance is only available in 12 states and has limited options for online or mobile policy and claims management.
Learn more: Erie Insurance assessment
How To Get And Keep The Cheapest Auto Insurance In Chicago
In addition to going through reviews, there are a number of tips and tricks to help you find and keep cheap car insurance in Chicago.
- Look around between insurers. When looking for a new policy, it can help to request quotes from several companies. Looking at average rates is helpful, but it can be misleading because there are so many personal variables involved in calculating a given person’s rate. By retrieving multiple quotes based on your information, you can see which company offers the cheapest car insurance for you.
- Drive smart and safe. Keeping a clean driving record is one of the more direct ways to maintain low-cost coverage. The more you avoid motion violations, the lower your rates will be. There are limits to this, and it varies between companies, but generally insurers charge lower premiums to drivers who are less likely to have accidents or fines. In addition, many insurers offer a discount to drivers who have not filed a claim in the past two to three years.