Best cheap car insurance quotes in Chicago
When choosing the best insurance plan for you, you’ll first need to decide how much car insurance you need
. Not only are there different types of coverages
, but there are also different liability limits and deductible amounts you can choose from. Cheap minimum liability insurance quotes in Chicago
Minimum liability insurance requirements in Illinois follow a 25/50/20 (plus 25/50) rule. That may sound confusing, but it really just means that your policy must cover at least:
$25,000 of bodily injury liability
coverage per person $50,000 of bodily injury liability coverage per accident
$20,000 of property damage liability
coverage per accident $25,000 of UM/UIM bodily injury coverage per person
$50,000 of UM/UIM bodily injury coverage per accident
If you are at fault in an accident, liability insurance will cover medical expenses and property damage for the other party involved. On the other hand, UM/UIM coverage provides financial protection for you and your passengers if the damages exceed the coverage limits for the at-fault driver.
You’ll likely pay the lowest available rates with minimum required liability coverage. On average, drivers in Chicago pay approximately $75 per month for state minimum insurance—however, your rates may vary. Here’s what real Chicago drivers pay for the state minimum with some of the top insurers in the city:
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Do you need more than minimum coverage in Chicago?
Most drivers in Chicago will benefit from more than the minimum coverage. While the Illinois state minimum liability coverage requirement of 25/50/20 offers adequate protection, medical and repair bills after a crash can be really expensive.
If you’re at fault in an accident and the resulting damages are more expensive than your coverage limits, you’ll be responsible for paying the rest out-of-pocket. Keep in mind that according to Illinois’s car accident laws
, an injured party can sue you in a personal injury lawsuit for up to two years after the accident. Additionally, Chicago has some very severe winter weather, thanks to the lake effect. This means it’s really easy to get into an accident in the winter, even if you’re an incredibly careful driver.
As a result, most experts recommend drivers increase their liability limits to either 50/100/50 or 100/300/100 to protect their assets and future income.
VP Insurance Operations, 18+ Years Experience in Insurance
A general rule that I recommend is to carry enough coverage to protect your current and future assets – at least $100,000/$300,000 of liability coverage is recommended, but you may need more coverage depending on your financial situation.
Cheapest full coverage car insurance quotes in Chicago
While you’re not legally required to purchase full coverage car insurance
, it does provide additional protection for your vehicle if you need repairs (or a new car) after an accident. On average, a full-coverage policy generally includes liability insurance, plus collision coverage
and comprehensive coverage
. Collision insurance: Covers the costs of repairing or replacing your car if you drive into another vehicle or a non-moving object.
Comprehensive insurance: Covers the costs of repairing or replacing your car in cases of theft, vandalism, and natural disasters.
Most car loan lenders will require you to maintain collision and comprehensive insurance coverage until you’ve paid off your vehicle. If you don’t have a car loan, though, your level of coverage is up to you.
Although a full coverage policy is more expensive on a monthly basis compared to the state minimum, it’s a worthy investment—and several providers offer cheaper than average rates for it.
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