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Illinois Car Insurance Rates

It is important to get the best Illinois car insurance rates because you do not want to pay anymore than you have to.  That is why you have to learn all the ins and outs of the factors that influence Illinois car insurance rates.  Once you learn everything you can, you will be a smart consumer who can get the best Illinois car insurance rates possible.  Finally, you can say that car insurance rates in Illinois are actually pretty reasonable because you will know all the tricks to getting affordable coverage.

Legal Requirements To Keep In Mind When Shopping For Illinois Car Insurance Rates

In Illinois there is a legal requirement that all drivers carry insurance coverage.  The law allows for a minimum coverage as follows: 

  • $25,000 per person bodily injury
  • $50,000 for one or more people bodily injury
  • $25,000 property damage

Even though these are the minimum requirements that a person has to have to be legally covered in Illinois, it is recommended that a person consider more coverage to offer them better protection in the event of an accident.  Higher coverage helps to ensure that you will be able to afford any liability you incur during an accident.

Factors That Influence IL Auto Insurance Rates

Illinois car insurance rates are influenced by a number of factors.  The factors play into how the company decides how much your policy will cost.  You should understand these factors so that you can understand why you may pay more or less than the average for car insurance.  The factors most commonly considered are:

  1. Driving record.  The company will look for accidents and violations.  Too many in the past and you will get a higher rate because you are a risk.  Some companies will only look in the past few years, while others look as far back as they can.
  2. Number of vehicles.  Generally the more vehicles you have covered, the better because companies usually offer a discount for multiple car coverage. 
  3. Driver’s age(s) and gender.  In general, males under the age of 26 are the greatest risk according to statistics, so they have higher insurance rates.  Most companies raise the costs for anyone under 26.
  4. Marital status of driver(s).  In general people who are married are considered lower risk than those who are not.  Some companies may also consider if the driver has any children because people with children are also considered lower risk. 
  5. Number of years licensed.  The longer a person has had a license, the better.  Again, the longer a person has a license, the lower risk they are considered. 
  6. Type of vehicle.  The type of vehicle will be a great factor in full coverage insurance rates.  This is because in the event of an accident the insurance will pay for replacement or repair of the vehicle.  If the vehicle is expensive or difficult to repair then the insurance will cost more.  Generally, for minimum coverage insurance the type of vehicle has little or no influence on the cost.
  7. Deductible.  You will get to choose a deductible, which is the money you must pay out of your pocket before the insurance company pays anything.  The higher the deductible, the lower your rates.  However, beware of choosing a deductible too high that you can not afford.
  8. Credit.  Most insurance companies will run a credit check and this influences your cost just as it would with a loan.

Each company is different and may use different factors.  You need to simply ask the insurance company what factors they use in deciding your insurance rates.  It is important to know this when shopping for insurance because some companies will not even offer coverage to certain people.  For example, many companies refuse people based upon too many previous accidents or a bad credit history.

Coverage Not Included In Illinois Car Insurance Rates

It is important that you understand what is not included in your auto insurance rate.  This is important because even though you have insurance coverage, you are still going to be paying for some things out of pocket.

There are three out of pocket expenses you should be aware of – exclusions, deductibles and over limit costs.

  1. Exclusions are things not covered by your insurance.  This all depends on the type of coverage you choose.  It could include damage that occurs when the vehicle is not parked at home or damage that occurs when someone not covered on your policy drives the vehicle.
  2. Your deductible is the amount of money you must pay before the insurance company will pay anything.  You usually get a choice of what you would like your deductible to be.  
  3. Over limit charges are going to be anything that goes above and beyond the coverage your insurance offers.  For example, if you have an accident and the property damage is $30,000, but you only have coverage for $25,000 then you must pay the $5,000 over the limit of coverage.

You need to know this because you should factor this into the rate you get.  You may end up deciding it is worth paying a little higher rate for higher limits, a higher deductible or extended coverage options.

Shop Around To Find The Best Illinois Auto Insurance Rates

One of the best ways to get the best Illinois car insurance rates is to shop around.  Use all the information you now know about factors that influence your rates and coverage limitations to seek out a variety of companies that interest you and can offer you what you need.

When shopping around remember to compare all the coverage and features of the policies you are offered.  Make sure you pay attention to the exemptions and other points that will end up costing you money.

Get Illinois Car Insurance Rate Quotes Now!

In order to make shopping around the best possible experience you will need to start getting quotes.  Get quotes from multiple companies quickly by using our quote tool.  You can get a range of quotes that can help you to find the best Illinois auto insurance rates available to you. Get started saving money on Illinois car insurance now!

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