As of 2015, there were an estimated 8,462,193 licensed drivers in the state of Illinois. Every driver in Illinois is required to carry car insurance, but data shows that nearly 14% of drivers are completely uninsured.
Car insurance in Illinois is moderately priced. The average premium for full coverage insurance is $1,425 per year and the average minimum coverage policy costs $419 per year. However, some insurance companies have cheaper rates than others.
The cheapest car insurance in Illinois
Illinois drivers have a few different options when it comes to affordable car insurance. The table below includes the cheapest auto insurance in Illinois from the most popular companies in the country:
| Car Insurance Company | Average Annual Premium for Minimum Coverage | Average Annual Premium for Full Coverage |
|---|---|---|
| Geico | $230 | $823 |
| Mercury | $240 | $1,025 |
| State Farm | $278 | $915 |
| Erie Insurance | $288 | $988 |
| Auto-Owners | $335 | $1,113 |
Geico
Drivers who are looking for cheap car insurance in Illinois should start by looking into Geico. The average full coverage policy from Geico costs $823 annually and the average minimum coverage policy costs just $230. In addition to low rates, Geico offers many discounts for even more savings. Drivers can get a lower premium by having vehicle safety features, being a good student, being a good driver, being a federal employee and being an active duty military member.
Mercury
Mercury is known for offering cheap insurance premiums in Illinois. The average full coverage car insurance policy from Mercury costs $1,025 annually, and the average minimum coverage car insurance policy costs $240. In terms of discounts, drivers can save money on their policy by having an anti-theft device in their vehicle, being a good student, signing up for autopay, bundling their policies, paying their annual premium in full and enrolling in the RealDrive® program.
State Farm
Drivers who are looking for cheap insurance coverage in Illinois can get an affordably-priced policy from State Farm. The average minimum coverage policy costs $278 annually and the average full coverage policy costs $915 per year. Drivers can save money by taking advantage of discounts for being accident-free, being a good student, taking a defensive driving course and taking advantage of one of State Farm’s safe driver programs, Drive Safe & Save or Steer Clear®.
Erie Insurance
Erie is one of the highest-rated insurance companies in Illinois. The average full coverage policy costs $988 per year and the average minimum coverage policy costs $288 per year. In addition to customizable coverage options, Erie also offers a variety of saving opportunities. There are discounts for vehicle safety equipment, good drivers, young drivers, reduced mileage, paying in full and more. Erie also has a 12-month rate lock guarantee and a disappearing deductible program.
Auto-Owners
Auto-Owners is the most expensive company on our list, but the average policy price is still below the Illinois statewide average rate. The average full coverage policy from Auto-Owners is $1,113 per year and the average minimum coverage policy is $335 per year. Auto-Owners customers can lower their premium by bundling policies, getting a quote in advance, being a good student, being claims-free, paying their monthly bill on-time and having certain vehicle safety features.
Affordable coverage for Illinois drivers
Drivers in Illinois are required to carry minimum coverage car insurance, which includes bodily injury and property damage liability coverage, as well as liability coverage for uninsured motorists.
Minimum coverage insurance in Illinois is abbreviated as 25/50/20, which includes:
- $25,000 in bodily injury liability coverage per person
- $50,000 in bodily injury liability coverage per accident
- $20,000 in property damage liability coverage.
Purchasing minimum coverage insurance means you will pay the lowest rate. However, drivers are encouraged to purchase coverage beyond the minimum requirement. Car accidents can be expensive, and if your policy does not cover the full cost of an accident, you are responsible for paying the rest out-of-pocket.
How to get cheap car insurance in Illinois
If you are looking for the cheapest auto insurance in Illinois, finding an affordable carrier is important. However, there are several other ways that drivers can get a low rate. Here are some alternative ways to do this:
- Shop around: Instead of settling for the first provider you find, do some research to identify a few car insurance companies that have the coverage and discounts you are looking for.
- Compare rates: Get quotes from several insurance providers and compare them to see which company can offer the lowest-priced policy.
- Take advantage of discounts: Look for insurance companies that offer discounts you qualify for. The more discounts you can take advantage of, the cheaper your premium will be.
- Pay in full: If you can afford to pay your annual premium upfront and in full, you can probably save some money on your policy.
- Raise your credit score: In Illinois, car insurance companies will use your credit score to price your insurance. Improving your credit score can help you get a lower rate.
- Increase your deductible: If you can afford a higher out-of-pocket cost, consider raising your deductible. The savings are not significant, but it will lower your premium slightly.
Frequently asked questions
What is the best car insurance in Illinois?
The best car insurance company in Illinois is different for every driver. However, some of the highest-rated companies are Auto-Owners, Country Financial, Erie, Geico and Westfield.
What is the average cost of car insurance in the U.S.?
The average cost of car insurance in the United States is $1,738 for a full coverage policy annually. The statewide average cost of full coverage insurance in Illinois is $1,425 per year, which is more than $300 less than the nationwide average.
How do I get a car insurance quote?
Getting a car insurance quote is a simple process. The easiest ways to get a quote are to use an online quote tool or call an agent directly. You will be asked to provide personal information, like your name, address, birthday and possibly your social security number. You will also need to provide information about your vehicle, such as the VIN, mileage, make, model and year.
Methodology
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
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January 07, 2021 at 11:52PM
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Cheapest Car Insurance in Illinois 2021 - Bankrate.com
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