If you own or operate a vehicle in Illinois then you must maintain a valid car insurance policy. It is mandated by state law. There are many factors which can affect the overall cost of a car insurance policy in this state so let’s understand a little more regarding average car insurance rates in Illinois.
In general car insurance rates are based on many factors. Some of the more common factors can include the following:
– Type of vehicle insured. Make, model, year, and condition play an important role.
– Safety features in the vehicle. Things like airbags, ABS brakes, roll bars, etc. can have an important effect.
– Cost of repairs for the vehicle. Some vehicles are relatively easy to repair and there is ready availability of replacement parts. Other vehicles are much more difficult and expensive to repair. So in general the rates would reflect these higher costs.
– Area where the car is located and where it is driven most. In general the car insurance rates are higher in metro areas like Chicago due to the density of traffic and higher likelihood of accidents. Some areas have a good history of minimal accidents or theft and may therefore result in lower rates.
– Policyholder and driver records. The driving history of people covered by the policy as well as other personal information can play an important role in determining rates. Some drivers have a strong history of safe driving and may therefore qualify for lower rates while other drivers who have been involved in traffic infractions or who have been involved in a greater number of accidents may pay a higher rate.
– Package discounts. Some companies offer discounted rates if the customer also has coverage with the same company for other things like homeowners or rental insurance. They may also apply special discounts for long term customers.
Due to these factors it is difficult to provide a great deal of information on average rates. However in general the average insurance rates in metro areas of Chicago tend to be higher than those from less congested areas. But it should also be noted that because it is a state law that all registered Illinois vehicle owners carry car insurance, the average rates tend to be lower than states which do not require all car owners to carry insurance.
This is because the risk is spread over more covered drivers.