There is a lot that goes into determining the cost of Illinois car insurance. What kind of vehicle you drive, the location within the state and what kind of coverage you are looking for all have an affect one way or another. Personal information can greatly factor into what you pay and what you get away with. For this reason, here are five personal facets to keep in mind.
Although obvious, the kind of car you are driving around town is going to have an effect on the overall insurance price. Someone driving a Honda Accord is going to pay far less than the person driving a Ferrari. It is important to note that Illinois car insurance premiums are based on the car’s sticker price, the cost to repair it, its overall safety record and the likelihood of theft.
What kind of record behind your name will factor into the insurance as well. How much you drive annually, your accident history and the number of tickets you have received over a lifetime will play into the overall insurance rate. There is a lower risk of an accident and a claim if you drive few miles. And the fewer accidents and tickets you have the more trustworthy you are behind the wheel.
As with everything in life, credit score will have a say in what you pay. In 2010, seven states passed regulations in regards to the use of credit information in insurance and in 2011 several others introduced bills to regulate the practice. But for the time being, Illinois car insurance does take into account your credit score.
A lot of personal details will be looked at as you begin searching for car insurance in Illinois. Insurance companies base their premiums on actuarial information about drivers. Companies will ask for your age, occupation, where you live and so on.
A teenage boy will have a higher insurance rate than a middle-age driver because of statistics. And the same goes for region as companies track local trends of accidents, car thefts, lawsuits and cost of medical care and car repair.
The final piece of information that affects how much you will pay for Illinois car insurance is the coverage you choose. The more coverage you opt for and the lower the deductible that is set, the more you can expect to pay. If you want to chance it and have a high deductible, that monthly bill won’t be too bad at all.