Average Cost of Car Insurance in Illinois for 2021| Bankrate
Many people pay their car insurance premiums monthly because it is typically easier on the budget. The average monthly cost of car insurance in Illinois is $37 for minimum insurance and $124 for full coverage, or $442 and $1,485 per year, respectively. These average rates could vary widely, depending on where you live in the state, your age and your driving record.
How much is car insurance in Illinois?
Average car insurance rates in Illinois are slightly lower compared to the annual national average of $565 for minimum coverage and $1,674 for full coverage. Still, again, these rates can vary significantly from driver to driver.
Illinois car insurance rates by company
One place to start when shopping for car insurance in Illinois is looking at the available insurance carriers. You may be surprised to find how much premiums can vary for the same type of coverage from each company.
Bankrate found that Mercury, Pekin, Geico, Secura and Grange all offer cheaper than average minimum coverage premiums that are typically less than $300 per year, well below the Illinois average of $442. As you can imagine, it may be worthwhile to switch carriers if you are paying significantly more than these rates, are over 25 and have a clean driving history.
|Car insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
|J & P Holdings||$368||$1,468|
Illinois car insurance rates by city
We further broke down car insurance rates in Illinois based on the most populated cities. It is probably not surprising that Chicago’s rates are the highest in the state, most likely due to the denser population and higher risks of accidents, vehicle damage or theft.
|City||Average annual premium for full coverage||% increase in average annual premium|
Illinois car insurance rates by age
Teens and young drivers might have to work a side job just to pay for car insurance. Insurance companies typically charge young adults more for coverage, often as much as double or triple what a 30- or 40-year-old driver would pay. Statistically, younger individuals are less experienced drivers and more prone to take dangerous risks or get distracted while driving, increasing the risk of causing a costly accident.
*16-year-old calculated on parent’s policy disclosure
Illinois car insurance rates by driving record
Drinking and driving or reckless behavior behind the wheel could have expensive implications. Besides the traffic fines and legal liability, car insurance premiums can go up between 20 percent and 46 percent, on average. To make matters worse, the increase in premiums will likely remain for at least two to three years, costing you hundreds or thousands of dollars.
|Driving incident||Average annual full coverage premium in Illinois||% increase in average annual premium|
How to save on car insurance in Illinois
Illinois residents, particularly those who live in more expensive areas like Chicago, might want to invest some time and effort to save on car insurance. Some ways to reduce your bill could include:
- Buy an insurance-friendly vehicle: Some cars, such as Hondas and Subarus, are cheaper to insure. If the cost of vehicle insurance causes some strain on your budget, avoid more expensive vehicles such as 4x4s, sports cars and exotic cars.
- Raise your deductible: Compare how much you can save if you double your deductible. The approach works best for safe drivers who do not have a history of accidents. Otherwise, use caution when raising your deductible, as you could get into financial trouble if you have to pay it after filing a claim.
- Opt for accident forgiveness: Many carriers offer accident forgiveness, removing one accident every few years from your history. Everyone makes a mistake sometimes. Knowing that your carrier will not penalize you for a rare accident could give you peace of mind and save you money.
- Bundle car insurance: Chances are you rent or own a home. If you buy renters or homeowners insurance along with your vehicle coverage, you could receive a discount on both.
Frequently asked questions
How much is car insurance in Illinois?
Illinois auto insurance rates are typically lower than the national average. Average car insurance rates in Illinois are $442 per year for minimum and $1,485 for full coverage.
What is the cheapest car insurance company in Illinois?
There are several cheap car insurance companies in Illinois, and all have similar rates. For an average of less than $300 per year for minimum insurance coverage, try Pekin, Geico, Mercury, Secura or Grange. Keep in mind that there may be carriers who have even cheaper rates. You should always shop around and look at all available carriers in your area to find the lowest rates for your circumstances.
When do I need full coverage car insurance?
If you lease your car or you are paying down a car loan, your lender or dealer will likely require you to have full coverage car insurance. Although Illinois does not mandate full coverage, it is still a good idea if you can afford it. Full car insurance expands on basic liability insurance by adding coverage for your vehicle and will better protect you financially in an accident than minimum coverage.
Bankrate utilizes Quadrant Information Services to analyze 2021 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 clean 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 base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.