Traffic Congestion in Chicago is Up and So Are Insurance Rates

As a mom, you no doubt know the pain of dealing with traffic. Trying to get the kids to school on time, pick them up afterward, get them to extracurricular activities or even doing routine shopping and errands — it can all become a nightmare when traffic slows you to a crawl and throws off your whole schedule. So is Chicago traffic getting worse, or is it just you?

It’s not just you. According to data from the transportation firm INRIX, Chicago drivers spent an average of 155 hours in traffic jams in 2022 — a jump of about 50 percent compared to 2021. It’s literally a record amount of traffic congestion, representing the most time wasted in traffic nationwide.

While the height of the pandemic was no picnic for anyone, there was a fringe benefit: with lockdown and quarantine keeping people at home, the roads carried much less traffic. But in 2022, pandemic restrictions eased off, and now traffic on Chicago’s roads has doubled — which means a return to traffic jams, long waits, and texts from your kids asking you when you’re going to show up.

Increased Traffic Means Increased Insurance Rates

More traffic on Chicago’s streets doesn’t just mean more time spent getting places — it means higher fuel and maintenance costs, as well as higher insurance rates. Auto insurance companies are raising their rates this year — in particular, State Farm and Allstate, two of the biggest insurers in Illinois. Allstate in particular has raised rates well above the national average, which can hit driving moms right in the pocketbook.

Why is auto insurance going up so much? There are a few reasons, none of which are particularly encouraging.

• More traffic on the road means more frequent and severe accidents. Traffic fatalities in Chicago have increased significantly, and it comes down to the basic math of the insurance biz: More accidents means more claims, which means more payouts, which leads to higher insurance rates for drivers.
• The increased prices of motor vehicles and motor vehicle parts also plays a major factor, made worse by the supply chain problems plaguing so many industries around the world.
• Rising medical costs also factor into auto insurance claims, which only exacerbates the already high material costs of traffic accidents. Medical costs are out of control in America, and higher auto insurance rates are a direct side effect of that.
• In addition, high levels of vehicle theft in Illinois, as well as a dramatic increase in thefts of catalytic converters in Chicago, have also contributed to higher premiums.

Finding Cheap Illinois Car Insurance

With rates going up as much as they are, you might already be considering a switch to a new insurance carrier. But you don’t want to go with a company that’s not going to be there when you need them. So what can you do to get the best cheap car insurance in Illinois?

First, a couple of quick facts. The average yearly auto insurance premium in Illinois is $1,394 per year. Some numbers from Ross Martin at The Zebra provide some guidance on where to look for your insurance needs — State Farm, for instance, still comes in under the national average with a yearly premium of $1,186, whereas Allstate, at a whopping $2,428 per year, very much does not. The cheapest company to work with overall is Travelers at a premium of $1,108 per year, although prices will vary based on things like the amount of coverage you have, your driving record, and so on.

As a mom, you probably know all too well that it’s helpful to cut costs wherever you can. So here are some tried-and-true ways to lower you auto insurance premiums.

First, shop around and compare quotes! It can be tempting to stick with the carrier you have because you know them and might not relish the idea of switching companies — but there are free online tools to help you compare quotes, and you just may find yourself a better deal than what you have now.

Also, consider installing some anti-theft and safety devices on your car, or take a defensive driving course. These two factors lower the risk for insurance companies, and will likely translate into lower premiums for you. Plus, anti-theft technology is great to have installed on your car with the rash of thefts happening in Chicago.

There are also several other discounts you can earn with your existing insurance carrier — a low-mileage discount if you don’t drive very much, for example, or discounts for good grades and a good driving record. Most insurance companies offer discounts for certain professions, such as teachers, doctors, first responders, military veterans, and more.

Finally, if you’re a homeowner, ask your insurance company about bundling your car and home insurance policies together. This will often lead to a lower annual premium!