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Illinois Car Insurance

Buying Illinois car insurance can be frustrating if you’re unaware of the intricacies of buying insurance for your car.  However, finding auto insurance in Illinois can be a lot easier if you’re aware of the state laws for the minimum amount of car insurance you need to be safe.  It also helps if you know the different components that make up your IL auto insurance policy.

Things like state minimums, average rates, available discounts and coverage options are all important bits of information in determining which insurance carrier offers the best policies for your personal needs. Remember, not all coverage is offered at the same price for the same options.

Rates in Illinois will differ from company to company. So be sure to get a few quotes, and compare the same coverage options before you decide who to sign up with for your Illinois car insurance policy.

State Minimum Requirements For Illinois Auto Insurance

It’s always important to remember that the minimum requirement for car insurance varies by state.  Having car insurance in Illinois is no different.  Illinois requires $20,000 worth of bodily injury liability coverage per injured person with up to a total of $40,000 per accident.  The state also requires that motorists have a minimum of $15,000 worth of property damage liability as well as $20,000 worth of uninsured/underinsured motorist (UM/UIM) bodily injury coverage up to a $40,000 limit.

The state of Illinois also follows the Tort system, which means that for every accident someone must be put at fault.  That person and their insurance company is responsible for all charges related to the accident.

In order to protect their motorists from damages caused to you or your vehicle by an uninsured or an underinsured motorist, you’re required to have UM/UIM coverage in the amount of 20/40 ($20,000 per person, 40,000 per accident).

Average Rates For Illinois Car Insurance

In 2003, the average Illinois resident paid $814 for auto insurance.  The national average was at $914.  2007 saw the first decrease in IL car insurance rates since 1999.  Rates fell a whole 1%.  If you live in Illinois and have car insurance, it will be necessary shop around for the cheapest rates yearly.  Don’t buy into the belief that you’re locked into your rates because the entire state is higher than some others.  If you shop around wisely, you’ll be able to get the most for your money and really reduce your IL car insurance rates.

How To Save Money On Illinois Car Insurance

Saving money is perhaps the most important thing when shopping for Illinois car insurance.  If you need some tips for easy money saving, look no further.  Here are a few important tips to remember:

  1. Shop Around:  Shopping around is the best way to save yourself some money on your Illinois car insurance.  The more quotes you get, the more you’ll be able to visually see the money you’ll be saving.  Remember, the same insurance from company to company is not the same price!  You might be paying unnecessary dollars for a product you can get cheaper elsewhere!

  1. Raise Your Deductible:  Many people are shocked to find out that raising their deductible can lower their car insurance rates.  It’s true.  The higher you raise your deductible, the lower your rates.  However, don’t fall into this trap if you can’t afford the deductible!  Only raise it to a comfortable level that you know you can pay.  Raise it too high and you’re running the risk of not being able to pay your out of pocket expenses in the event of an accident.

  1. Watch Your Credit Score:  Yes, your credit score can negatively impact your car insurance rates.  The lower your credit score is, the higher risk insurance companies will see you.  Need to lower your credit score?  No problem.  Pay your bill on time, every time.  That will help.  Also reduce your credit card balance.  The higher your balance is to your credit limit the more negatively it will impact your credit score.

Illinois Auto Insurance Coverage Basics

Everyone needs some help understand what everything on their policy means.  Let’s fact it, we could end up paying more than we should if we didn’t!

  • Collision Coverage:  The most basic coverage is liability insurance and that only covers damages you cause to other vehicles.  Collision covers damage to your car hits or is hit by another car or any object.  It pays to fix damages to your car minus a deductible that you choose.  If you own an older car, this coverage is often not necessary.  If you finance however, that is a different story.  Most financing companies require that you purchase collision coverage.
  • Comprehensive Coverage:  Comprehensive covers everything else not covered by collision.  This can include if your car is stolen, floods, fire, and animals.  Usually collision and comprehensive go hand in hand.  If you buy one, you have to buy the other.
  • Medical Coverage:  Medical coverage is completely optional and can cover you and your passengers pay for any medical needs in the event of an accident.
  • Bodily Injury Liability:  This coverage pays for any injury or death for which you are responsible.  It also provides legal defense in the event that the other party sues.  Bodily injury claims can include medical bills and loss of income.  Usually a standard coverage is $250,000/$500,000 ($250,000 per person and $500,000 per accident).  Large limits like this can help protect you in the event that a lawsuit against you requires you to pay more than you thought.    

Get Started Finding Illinois Car Insurance Quotes Now!

Now that you know the basics, it’s time for you to plug in your information and start finding cheap Illinois car insurance now!  It’s never been easier! Use our free comparison tool at the top of the page to get started comparing Illinois auto insurance quotes now!

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