In Chicago, 18- to 24-year-olds with tickets and accidents on their records pay over $460 more a year on car insurance than the average driver.
QuoteWizard made this surprising discovery after surveying 500 Chicago residents about how much they spend on auto insurance. We also asked the city’s drivers to share other details about themselves, such as their:
- Driving history
- Vehicle year, make, and model
This study analyzes these results, tells you how much car insurance in Chicago actually costs, and shares how you can lower your rates and save.
Average Monthly Car Insurance Rate
Whether you’re already living in Chicago or planning to move there, here’s how your rates stack up to the city’s average motorist.
Average in Chicago = $128
The average Chicago driver spends about $128 per month on car insurance. However, this covers all of the city’s motorists. It doesn’t weed out any particular demographics or factors.
Males = $138
The average man in Chicago pays $138 per month on car insurance. This is $16 more than what the average woman pays.
Underwriters base your premiums on many different elements, including your driving record. If you’ve been ticketed for any traffic violations, accidents, or DUIs, your rates will reflect that.
Because men here tend to have higher rates than women, this may mean they rack up more accidents or traffic violations.
Females = $122
Similar to trends in the rest of the country, women pay less for car insurance than men in the “Windy City.” This could be because they have cleaner driving records overall.
Average Rate by Age
Ever wondered how your premium stacks up to that of the average person in your age group? Keep reading to find out.
Young drivers are the least experienced of the bunch. They also get more tickets and get into more accidents than older drivers. Their car insurance rates are high as a result—to compensate for their increased risk.
Rates drop significantly once you turn 25. One reason for this: drivers between the ages of 25 and 34 have spent more time behind the wheel than those between 18 and 24. Also, they’re usually more cautious than their more youthful cohorts.
People in this age group pay more for car insurance than those in the previous one. Specifically, they pay about $7 more.
Why? One potential answer is that, as people age and make—as well as save—more money, they use some of it to buy newer and more expensive cars. And these vehicles usually cost more to insure than older and less pricey ones.
Other factors that could be at play here: owning multiple cars and having teenage children who are learning to drive.
You guessed it--this demographic pays even more than the last one. The explanation shared above likely works here too.
You’ve probably already heard that as you get older, your car insurance rates go down. That’s definitely true in Chicago. Drivers here pay an average of $15 less than younger drivers. This is partially because most of them have spent a lot of time on the road.
However, your rates tend to go up again once you hit 65. You can thank deteriorating reflexes for this increase.
Car Insurance Rates by Top Companies (and Ratings, Market Share)
Because companies use their own algorithms to determine rates, it’s rare for different insurers to offer the same rate. This is why what you pay for car insurance may be higher or lower than what someone else pays for it—even if you’re in the same age group.
Speaking of which, the following graphs and text detail what people in specific demographics in Chicago can expect to pay for an auto policy.
Keep in mind these are just averages of the whole population. Compare multiple car insurance quotes to find the most affordable car insurance company.
Rates for 18-24 Year Olds
However, when looking at the data for 25- to 34-year-olds, Geico is the second cheapest thanks to its $82-per-month premiums. Farmers is one of the most expensive, at $140. This shows how much rates can vary from one company to the next, as well from age group to age group.
Rates for 25-34 Year Olds
The theory that your rates drop once you turn 25 is true in this case. For example, Progressive’s average for 25- to 34-year-olds is $80 per month for. Its average for people between 18 and 24: $138. That’s a whopping $58 difference. With Geico, drivers in the 18-to-24 age range pay $162, while those between 25 and 34 pay just $82.
Rates for 35-44 Year Olds
What Nationwide charges policyholders drops when you go from 25- through 34-year-olds to 35- through 44-year-olds. Farmers customers see a similar decrease, although theirs is only $59. People who use Progressive and Geico actually see an increase—of $16 and $36, respectively.
As you can see, trends are hard to pin down here because rates vary so wildly between companies and age groups.
Rates for 45-54 Year Olds
Rates for 55-64 Year Olds
Nationwide is the cheapest option for drivers between the ages of 45 and 54 as well as 55 and 64. Not only that, but the premium difference between the two groups is $15.
Liberty Mutual is the second cheapest insurer for people in these demographics. In this case, there’s just a $25 drop from the younger age range to the older one.
For overall company ratings, Farmers takes the prize, while Nationwide comes in last place. This makes sense, considering Farmers offers the lowest rates for 18-24 year olds, and the second lowest rates for the 35-44 age range.
Nationwide, on the other hand, charges drivers in the 25-to-34 age range--a large portion of our sample--higher rates than its competitors.
The Real Cost of Tickets and Accidents
Having tickets or accidents gives you a bad driving record and increases your car insurance rates. Keep reading to see how much more it raises the rates of the average person.
Drivers who reported tickets or accidents = 18%
Average monthly cost WITH tickets or accidents = $132
Average monthly cost WITHOUT tickets or accidents = $127
In Chicago, 18% of surveyed drivers said they’ve gotten tickets or been in accidents. And they pay an average of $132 per month on car insurance.
While this is only $5 more than the average monthly cost without tickets or accidents, that’s $60 dollars more per year. Also, rates constantly fluctuate, so the difference could be greater for you.
Rates by Age With Tickets or Accidents
The chart above shows how much people with marks on their driving records pay for car insurance. For example, those between 18 and 24 who have a history of tickets or accidents pay $167 per month. That’s $17 more per month than someone in the same age group who has a clean record.
On a related note, here’s a chart of the different traffic incidents people reported as part of our survey.
According to this chart, 45% of people who reported accidents on their records said they were no-fault, while 25% were at-fault. Another 25% reported speeding tickets, while just 6% reported DUIs.
The bottom line here: be careful while you’re behind the wheel because a traffic incident, and especually a DUI, can have a major impact what you pay for car insurance.
Driving a Newer Car Costs More to Insure
Newer cars usually cost more to insure. Let’s see if this holds true for Chicago.
Rates by Age of Car
If you own a vehicle built between 1990 and 2014, you’ll pay significantly less for car insurance than if your vehicle was built after 2014.
Another interesting statistic tied to these survey results: it costs more to insure cars built between 1990 and 1994 than it does to insure those built between 1995 and 1999. This is because parts for a 26-year-old car usually cost more than parts for a 10-year-old one. Even then, though, these old vehicles are cheaper to insure than ones built after 2005.
Of course, other factors come into play here too. We’ll discuss and explain an important one in the next section.
Average Rates by Car Make and Model
Your car’s make and model has more to do with determining your car insurance rates than you might think. Consider the following table:
Top 10 most common cars by rate
Why does a pickup truck like a Chevy Silverado cost more to insure than an SUV like a Jeep Cherokee? One explanation is that, as far as insurers are concerned, more power means more risk. So, if your vehicle has a potent engine, you’ll pay for it in higher premiums.
Most Expensive Makes to Insure
It shouldn’t be too surprising to hear that a BMW prompts higher insurance rates than a Kia or Hyundai. After all, luxury vehicles cost more to repair thanks to their pricier parts.
Volkswagen sits high on this list because it is foreign-made and many of us its replacement parts need to be imported.
Why is Ford mentioned here? Many of its models, the F-150 is a good example, are powerful and can easily damage other vehicles on the road. Owners may have to carry more liability coverage to compensate for this.
Cheapest Makes to insure
As has been discussed a few times already, many different factors determine car insurance rates. One is the size of your vehicle. Another is how likely it is someone will steal it. Basically, the less risk to the insurer, the less you have to pay for a policy. The vehicle makes named in the table above are proof positive of that.
Disappointed by how your car insurance rates stack up to the examples shared above? Shop around for better auto insurance prices. Get quotes from multiple insurers to compare their rates. We’ll match you with an agent who can assess what you should be paying for a policy.
This survey was commissioned by QuoteWizard and conducted by Survata, an independent research firm in San Francisco. Survata interviewed 500 online respondents between March 04, 2016 and March 10, 2016.