The West Garfield Park neighborhood of Chicago has the highest average auto insurance rates in Illinois, with an average annual rate of $1,675 in 2014 – 103% more than that of Bloomington, the cheapest city in Illinois. Also, this works out to be 29% more expensive than the state average.
There are many factors that determine your car insurance premium, such as your coverage limits, your loss history, age, gender, marital status, and vehicle safety features. But one of the most important factors that go into the calculation is where you live or where you keep your car. Insurance companies consider some places as higher risks than others, and as a result, they require drivers in those places to pay higher premiums for car insurance.
Why do insurance rates vary by location?
Location-related factors such as property crimes, number of insurance claims, population density, road infrastructure and other factors will play an important role in deciding insurance premium. One of the factors affecting auto insurance rates in West Garfield is the property crime rate. On a scale of 1 (low) to 10 (high), West Garfield has a rating of 8.8 as compared to the state average of 4.2 and the US average of 4.4. Property crimes include the offenses of burglary, larceny-theft, motor vehicle theft, and arson.
Top 3 Expensive Neighborhoods of Chicago and Property Crime Rates:
|Neighborhood Zip Code||Property Crime Rate||Average Insurance (in $)|
Least 3 Expensive Neighborhoods of Chicago and Property Crime Rates:
Neighborhood Zip Code
Property Crime Rate
Average Insurance(in $)
What do you think is the solution to the problem of high insurance rates in West Garfield? Do insurance companies need to file lawsuits against governments for not controlling crimes in West Garfield Park? Such a precedent has already been set by Farmers Insurance Co., which filed class-action lawsuits against local governments in Chicago in May 2014 contending that their failure to prepare for heavy rainfall was leading to climate change. Legal action by auto insurance companies against the government is definitely a plan that is worth considering!