Who Has Cheap Insurance for Ride Shares in Illinois?

It’s hard to miss the captivating commercials from car insurance companies like Allstate and State Farm promising the cheapest rates, so you should just choose the one with the most memorable commercial, right?

It’s not quite that easy, unfortunately, as there are a ton of unknowns like the number of years you have been driving, where you choose to live in Illinois, and if you are married, that all have an effect on the price. We will try to cover the best ways to pay less and will give you a solid foundation to find cheaper car insurance.

Comparing rates for low-cost car insurance is not easy, and deciding which companies offer the lowest-priced car insurance rates for business use will involve more quotes for comparison. Every insurance company uses a little different formula for determining prices, so first we will examine the most competitive car insurance companies in Illinois.

It’s important to understand that Illinois car insurance rates are calculated based on many things which can significantly increase or decrease the price you have to pay for coverage. This price fluctuation is why Illinois drivers need to compare many different companies to find affordable car insurance quotes for business use. Car insurance prices can be determined by many factors and can change without notice, so the most affordable company three years ago may now be quite expensive.

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google.charts.setOnLoadCallback(drawILT5qcibChart);function drawILT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘The Hartford’, 753, ‘#F05050’], [‘Rockford Mutual’, 847, ‘#C84242’], [‘Titan’, 860, ‘#A63737’], [‘Cincinnati Insurance’, 888, ‘#8A2D2D’], [‘Erie’, 914, ‘#732525’]]);var options = {title: ‘Top Five Cheapest Car Insurance Companies in Illinois’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1014,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

The Hartford may have some of the lowest car insurance rates in Illinois at around $753 per year. Rockford Mutual, Titan, Cincinnati Insurance, and Erie would also be considered some of the most economical Illinois insurance companies.

As shown in the table above, if you currently buy coverage from Cincinnati Insurance and switched to Rockford Mutual, you could realize an annual savings of approxmiately $41. Customers with Erie could save as much as $67 a year, and State Farm customers might cut rates by $125 a year.

To find out how much you can save, click here to start a quote or visit any of the low-priced companies below.

Remember that these rates are averages across all insureds and vehicles and and are not calculated with a rate decrease for business use. So the car insurance company that fits you best may not even be in the rate chart shown above. That helps illustrate why you need to get quotes using your own driver and vehicle profiles.

Performance level and cost of the vehicle you are trying to insure is one of the primary factors when shopping for cheap insurance for business use in Illinois. Vehicles with lots of speed or power, a lack of safety features, or an increased likelihood of liability claims will cost more to insure than safer models.

The next tables illustrates insurance costs for a selection of the most economical vehicles to buy insurance for.

Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Price information does not factor in your specific Illinois location which can modify premiums significantly.

Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Premium amounts do not factor in vehicle location which can impact prices substantially.

Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price information does not factor in garaging location in Illinois which can influence coverage rates considerably.

When shopping for the cheapest car insurance for using your car for business, one of the many factors that is used by car insurance companies to determine the cost of insurance is where your home is located in Illinois. Areas that are densely populated or have higher claim frequency like Cicero, Skokie, and Des Plaines are more likely to have higher rates, whereas areas with less congestion benefit from lower rates.

The following table shows the most expensive cities in Illinois for business use to buy an auto insurance policy in.

Rate quotes are approximated as specific Illinois zip code can influence price quotes substantially.

The chart below shows how choosing a deductible can increase or decrease insurance rates when researching cheap insurance for business use. The premiums assume a single female driver, comp and collision included, and no discounts are factored in.

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The chart above illustrates that a 30-year-old driver could lower their policy premium by $322 a year by changing from a $100 deductible to a $500 deductible, or save $484 by selecting a $1,000 deductible. Young drivers, like the age 20 example, could potentially save up to $718 every year by choosing a larger deductible amount.

If you do decide to increase your deductibles, it will now be necessary to have emergency funds available to allow you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.