Best Insurance Companies In Illinois

The Best Overall Homeowners Insurance Companies In Illinois

MoneyGeek ranked the best home insurance companies in Illinois based on customer satisfaction, claims reputation, affordability and financial stability to help you find a policy that fits your needs. These are the states top options:

• Allstate: MoneyGeek score of 87 out of 100
• American Family: MoneyGeek score of 83 out of 100

While USAA is excluded from this analysis, the company received a MoneyGeek score of 92 out of 100, making it the best home insurance company in Illinois for current and former military members.

MoneyGeek explains the coverages and discounts offered by Allstate and American Family to help you understand why these companies ranked the highest.

The Top Home Insurance Companies in Illinois

Financial Stability

On average, it costs $1,067 per year to buy a policy from Allstate. The company ranked first for affordability and fifth for both financial stability and customer satisfaction. It offers energy efficiency upgrade coverage.

With Allstate, you can add energy efficiency upgrade coverage, which covers the cost of replacement of damaged household heating or cooling systems with energy-efficient items. The company also offers mold coverage, which protects you against mold and fungus damage. Allstate has some inviting discounts as well, including those for automatic payment and company loyalty.

Financial Stability

Consider Minimum Insurance Requirements In Illinois

When determining what coverage you need, you may want to look into Illinois car insurance laws and state minimum requirements. Specific limits and minimum liability requirements can be found on the Illinois Department of Insurance website. If you purchase higher limits of uninsured motorist coverage, you will also be required to purchase underinsured motorist coverage. Uninsured motorist coverage protects your finances if you are hit by a driver who has no insurance underinsured motorist coverage is designed to help pay the overage if the driver who hit you does not have enough coverage to pay for your damages.

Illinois Minimum Insurance Requirements

Like most other states, Illinois requires all drivers to carry a minimum amount of liability insurance, noted at 25/50/20. Failure to maintain the minimum insurance required could result in a substantial fine.

Minimum liability required in the state of Illinois is divided as follows:

• $25,000 for injury or death of one person in an accident
• $50,000 for injury or death to more than one person in an accident
• $20,000 for property damage in an accident

When purchasing car insurance in Illinois, there are a few things to consider. The state has a low risk of natural disasters and a relatively average rate of uninsured drivers, both of which prevent prices from getting too high. Keep in mind that your car insurance rates will depend on other factors besides just your state. Your age, driving record, vehicle, , and marital status will also likely have an impact on your rates.

High-risk drivers may apply for the Illinois Automobile Insurance Plan for coverage, but since rates tend to run higher than usual, it is best to find and compare top auto insurance quotes first.

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Cost Of Illinois Car Insurance By City

Car insurance rates vary from state to state, but they also vary within states due to different risk factors. The following table shows the average estimated rates for the 25 biggest cities and towns in Illinois.

As you can see from the table above, someone who lives in a big city like Chicago will pay a higher car insurance rate than someone from a smaller town in Illinois.

How To Get Discounts On Car Insurance In Illinois

There are a lot of auto insurance discounts you can get in Illinois. Many insurance providers can give discounts if you bundle your house, vehicle, life, and other insurance plans. You may also get points for good deeds, such as a clean driving record or a high credit score. If you’re a veteran or a current member of the armed forces, don’t hesitate to ask for military discounts.

Many of the insurers mentioned in this article have these types of discounts, but insurance providers give some special discounts. Here are a few highlights on the exclusive discounts available from the profiled providers:

• The General Eagle Discount lowers insurance premiums for federal government employees.
• Erie Rate Lock feature prevents policyholders from increasing premiums.
• Auto-Owners’ advance discount lowers the prices for new applicants who apply for a premium quote before the program’s effective date.
• Country Financial provides a discount on a profession to K-12 full-time firefighters, police officers, EMTs, and paramedics.

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Factors That Affect Car Insurance Rates In Illinois

Factors are characteristics specific to you that car insurance companies use to set how much youll pay for car insurance. The less risky each of your factors is the less you pay, the riskier you are the more youll pay. Well break down Illinoisans rating factors to keep in mind.

Do I need SR-22 insurance in Illinois?

Drivers that are convicted of serious driving violations may be required to file an SR-22, which is a certificate that proves they have the minimum insurance requirements of their state in order to get their license back. In Illinois, the SOS notifies you if youre mandated to file an SR-22, which can happen if youre convicted of three or more insurance violations, your license is revoked or suspended, or youre under mandatory insurance supervision. Illinois typically requires that you maintain it for three years. Learn more about SR-22s in Illinois.

Illinois Car Insurance Cost By Age

Your age is one of the biggest factors in your insurance premiums. In general, younger drivers pay much higher premiums than drivers from other age groups, with teen drivers paying the highest rates on average. The table below shows the average rate estimates for different ages of Illinois drivers.

As you can see from the chart above, younger drivers in Illinois will pay much more for car insurance than older drivers.

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Compare The Best Home Insurance Companies In Illinois

To determine the best homeowners insurance in Illinois, Reviews evaluated the market to find insurers with good consumer ratings, minimal customer complaints, and financial strength. We also sought carriers that offer affordable basic coverages and a selection of optional coverages.

Information accurate as of October 2022

*2022 premium data provided by Bankrate.com

**J.D. Powers 2022 U.S. Home Insurance Study. Based on a 1,000-point scale.

***USAA is not ranked by J.D. Power due to eligibility requirements

Should You Compare Different Insurance Quotes In Illinois

When you’re shopping for auto insurance policies, you can get quotes from different companies, and with different policy limits and coverage types. You could compare minimum auto insurance with policies that have collision insurance and more. You could compare the impacts of different deductibles, property damage coverage amounts, and much more.

This is the best way to make sure your insurance coverage makes sense for you. Sometimes paying a little more to avoid greater liability per accident is the right move.

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Average Car Insurance Costs For 19 Year Olds

Drivers pay more for car insurance after an accident, especially if they are younger. Young drivers pay up to 42% more for car insurance if they have an accident. The company with the best overall rate is State Farm, which raises rates by $1,545 a year.

Young drivers can save money on their insurance by sharing a policy with an older person, such as a parent or sibling.

State Farm has the lowest rates for married drivers, although it hasnt changed its rates for married drivers. Progressive and Country Finance offer the biggest discounts for married drivers, at 16% and 13% respectively.

Compare Best Cheap Car Insurance Quotes In Illinois 2022

The average cost of basic liability car insurance in Illinois is $1,835 per year. Opting for full-coverage car insurance in Illinois will leave you with an average cost of $2,428 per year. In comparison, the national average is $1,627 per year to buy basic liability car insurance and $2,297 per year to buy full-coverage car insurance.

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What Is The Best Car Insurance Company In Illinois

Based on MoneyGeeks analysis, Erie is the best car insurance company in Illinois. It has an overall rating of 88 out of 100. It ranked first for claims and customer satisfaction. However, it is not the most affordable company. The cheapest in terms of average yearly rate is GEICO. Travelers and GEICO received the highest scores for financial stability.

Usaa: Low Rates For Military

Exclusive to military members, veterans and their families, USAA is a great option for those who qualify. The provider holds an A++ financial strength rating from AM Best as well as an A- rating from the BBB, and it frequently receives the highest score in J.D. Power customer satisfaction ratings.

In our 2022 industry review, our team gave USAA the Low Rates for Military award. Unsurprisingly, USAA is the number one provider for the military, with discounts and benefits tailored to military members. USAA also offers usage-based insurance, gap insurance and accident forgiveness.

Compare: USAA vs. Geico

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How Much Coverage Per Person Do You Need In Illinois

Illinois requires all drivers to have two types of auto insurance coverage: liability and uninsured motorist. Illinois drivers also have the option to purchase collision and comprehensive coverage. The lowest rates based on minimum coverage leave you uncovered for your own damages after an accident. So if you don’t want collision coverage or comprehensive coverage, you may want to consider saving more money for a rainy day.

The minimum coverage limits in Illinois are listed below. While purchasing the minimum coverage will make you a legal driver, it’s still important to also consider purchasing higher limits to ensure you have enough protection in the event of a lawsuit. You can learn more about different car insurance coverage types and what the limits mean here.

Illinois state minimum requirements:

• Bodily injury â $25,000 per person
• Bodily injury â $50,000 per accident
• Property damage â $20,000 per accident

Bodily injury caused by an uninsured motorist:

• $25,000 per person
• $50,000 per accident

Bodily injury liability provides coverage for injuries sustained by the other vehicle’s driver and passengers if you are held responsible for an accident. This coverage also kicks in to defend you in the event of any legal claims.

Property damage liability provides coverage in the event you damage someone else’s property in a car accident. Most commonly this is the other vehicle, but also could be things like a home or fence.

How Much Life Insurance Do You Need In Illinois

The 90th percentile salary in Illinois is approximately $103,490. As mentioned, most financial advisors recommend that you purchase a life insurance policy that will cover your beneficiary for at least 10X 20X your average annual income. In Illinois that works out to around $1,034,900 $2,069,800. This amount will ensure that your loved ones can continue to pay their bills, settle your debts, and cover the cost of your final expenses.

You may also want to purchase additional life insurance to cover:

• Childrens education costs
• Bereavement therapy costs for your spouse and children
• Any other expenses that may be unique to your family or lifestyle

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Best Car Insurance Companies In Illinois

The average annual premium for full coverage auto insurance in Illinois is $1,533. For minimum coverage, the Illinois average is $475. Based on rate data provided by Quadrant Information Services, Travelers, Geico, Erie, Auto-Owners and Mercury topped Bankrates roundup as some of the best car insurance companies in Illinois. To help you choose the best car insurance provider for you, we broke down these carriers by their average annual premium, customer satisfaction score from J.D. Powers 2022 U.S. Auto Insurance Study and an individualized Bankrate Score.

Based on Bankrates research, the companies offering the best auto insurance in Illinois are:

What Is The Best Car Insurance In Illinois

Liberty Mutual understands that everyone has individual needs when it comes to their Illinois auto insurance. Some might want the cheapest Illinois car insurance, while others want more coverage and an auto insurance company they know they can trust. Let us help you customize your Illinois car insurance, so you only pay for what you need.

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Illinois Car Insurance Premiums By Gender And Marital Status

ValuePenguin reports that married drivers save an average of 9 percent on their auto policies compared with single drivers in Illinois. The website found that these sites offer the lowest average costs for insurance if you’re married:

• Country Financial: $136 per month and $1636 per year
• Progressive: $110 per month and $1317 per year
• State Farm: $91 per month and $1092 per year

The average for drivers across Illinois is $168 per month or $2016 per year. You can save more as a married driver with a multicar discount.

Geico: Best Car Insurance For The Cheapest Rates

GEICO is known for its easy-to-use website and robust mobile app that makes it super easy for you to get a quote or make a claim.

GEICO is also known for having the lowest rates in the auto insurance industry.

So how does GEICO keep its rates low? There are several factors.

Because GEICO has the longest list of discountsover twentyyou are guaranteed to have a lower premium.

Here are other ways that GEICO uses to lower your rates:

• If you add multiple drivers to your policy.
• If you combine auto and home policies.
• If you pay for your policy in full.
• If you complete a defensive driving course.
• If you keep your driving record clean.
• If you update your policy info many times each year.
• If you have safety and anti-theft devices on your car
• If you practice safe driving.

GEICOs affordable rates dont mean you have to compromise on service and features. It offers everything the typical auto insurer has, but is cheaper.

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Best Cheap Car Insurance In Illinois

How we chose our best picks

To help drivers find the best cheap car insurance in Illinois, our editorial team collected quotes from top auto insurance companies across every ZIP code in the state. Quotes for minimum coverage meet the Illinois state minimum requirements: $25,000 in bodily injury liability coverage per person and $50,000 per accident , and $10,000 in property damage protection. Full coverage quotes include comprehensive and collision protection along with higher liability limits than the state minimums.

Additionally, we rated the best auto insurance companies in Illinois based on insurance costs for different drivers, coverage availability, customer service reviews and convenience.

Cheapest Car Insurance In Illinois

Guides Auto TeamLaura ShaughnessyRashawn Mitchner Compare Rates

To help you find those low premiums, we at the Guides Auto Team took a deep dive into the best car insurance companies, including both national and local providers, that serve Illinois drivers. We evaluated them on their coverage and reputation in addition to their rates in the Prairie State.

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Illinois Car Insurance And Driving Laws

Know these laws to stay legal and safe on the road and to understand how your liability coverage works in Illinois.

The driver at fault pays for damage after an accident

Illinois is an at-fault state, which means that the driver responsible for the car accident pays for the damage. Your insurance company and legal authorities will figure out whos at fault, based on the exact circumstances.

However, Illinois also factors in whether both drivers are partially at fault under a modified comparative fault law, according to the legal website Nolo. Under this law, both drivers are given a percentage of fault. Drivers who are less than 50% at fault can get reimbursed for damage caused by other drivers.

For example, if youre 80% responsible for an accident, your insurance will pay 80% of the other drivers damages. However, since youre over 50% at fault, the other driver isnt required to pay for your damages, even though theyre 20% at fault.

Distracted driving is a major offense in Illinois

Having a phone in your hand while youre driving is illegal in Illinois, and only drivers age 19 and older can use hands-free devices with their phones. For violations, Illinois law can charge fines of $75$150 per offense with the possibility of a license suspension after several offenses.

Illinois offers help for high-risk drivers

Newcomers have 30 days to register cars in Illinois