Because it is usually easier on the wallet, many people pay their car Insurance premiums every month. In Illinois, the average cost of car insurance is $37 per month for minimum coverage and $124 for full coverage. This amounts to $442 and $14,485 respectively. The rates you pay could be different depending on where your are located in Illinois, your driving record, and your age.
What is the cost of car insurance in Illinois?
The average car insurance rate in Illinois is slightly lower than the national average of $565 to cover minimum coverage and $1674 for complete coverage. These rates can still vary from one driver to the next.
Illinois car insurance rates by company
Look at the available car insurance providers. This is a good place to start when looking for Illinois auto insurance. Surprised at the differences in premiums for similar coverage from different companies?
Bankrate discovered that Mercury, Geico Secura, Secura, and Grange offer lower than average minimum insurance premiums. These are usually less than $300 per annum, which is well below the Illinois average of $442. If you pay significantly more than these rates and have a clean driving record, it might be worth switching carriers.
Illinois car insurance rates by location
Further, we broke down Illinois’ car insurance rates based on the most populous cities. Chicago’s insurance rates are among the highest in Illinois. This is likely because of the city’s dense population and higher risk of theft, vehicle damage, or accidents.
Illinois car insurance rates based on age
Young drivers and teens might need to have a job to pay for their car insurance. Insurance companies charge young drivers more for coverage. This can often be double or three times the cost of a 30-year-old driver. According to statistics, younger drivers are more likely to be distracted or take risks while driving, which increases the chance of an expensive accident.
Illinois car insurance rates for driving record
Reckless driving, drinking and driving could lead to costly consequences. Car insurance premiums can rise between 20 percent to 46 percent on average, in addition to traffic fines or legal liability. The worst part is that the premium increase will likely continue for at least 2 to 3 years, which could cost you hundreds of thousands or even thousands of dollars.
How to Save on Illinois Car Insurance
Illinois residents might consider saving money on their car insurance, especially if they live in expensive areas such as Chicago. There are several ways you can reduce your monthly bill.
- Purchase an insurance-friendly car: Hondas and Subarus are less expensive to insure. Avoid expensive cars like 4x4s, exotics, and sports cars if vehicle insurance is too costly.
- Increase your deductible. Compare the savings you could make if you increase your deductible. This works best for drivers who are safe and have not been in an accident. If you do have a history of accidents, you should be cautious about raising your deductible. You could end up in financial trouble if it is required to be paid after you file a claim.
- You can get accident forgiveness from many carriers. This means that you will be able to erase one accident from your record every few years. Everybody makes mistakes sometimes. You can rest assured that your carrier won’t penalize you for an occasional mishap. This could save you time and money.
- Bundle your car insurance: You might rent or own a house. You could get a discount if you purchase homeowners or renters insurance in addition to your vehicle coverage.
Questions frequently asked
What is the cost of car insurance in Illinois?
Illinois auto insurance rates are generally lower than the national average. Illinois average car insurance rates are $442 per annum for minimum coverage and $1,485 to full coverage.
Which Illinois car insurance company is the most affordable?
There are many cheap Illinois car insurance companies. All have similar rates. Pekin, Mercury, Secura, Secura, and Grange offer minimum coverage at a cost of $300 per year on average. There may be other carriers that offer lower rates. To find the best rate for you, it is important to shop around.
What are the best times to get full coverage car insurance
Your lender or dealer may require that you have full coverage car insurance if you lease your vehicle or are making payments on a car loan. Full coverage is not required in Illinois, but it’s a good idea if it’s possible to afford it. Full coverage car insurance adds to basic liability insurance and covers your vehicle. It will also protect you financially in case of an accident.
