Illinois Auto Insurance Rates

illinois-auto-princes-drawing-schoolWant to save a lot of money on your auto insurance?  You are not alone.  While Illinois residents will on average spend far less on auto insurance than the rest of the country, there are still ways that you can reduce the amount you are spending.  With that in mind, let’s take a moment to examine  Illinois auto insurance rates from and how you can keep the prices down.


Building A Home

Consider for a moment that you are constructing a house.  You start with the foundation, add the first floor, add the second floor, and then finish up.  This analogy is perfect for explaining Illinois auto insurance rates.

The foundation for the cost of your insurance is the state mandated minimum coverage.  The mandated minimum is $25k for injury or death of one person in an accident where you are at fault.  It is another $50k for injury or death of more than one person in an accident.  In addition the state requires $25k for the property of other people.  An unavoidable cost, this sets the groundwork for all future costs.


The First Floor

If the mandated minimum forms the ground floor for Illinois auto insurance rates, then the factors you cannot control make up the first floor.  Factors that will influence the cost of your rate include your age, your gender, and your previous driving record.  Typically men will pay more than women, especially when they are younger.  Young people will pay far higher than adults with the cost equaling out in the early 20’s.  We can do nothing to change the past, and a recent history of poor driving can increase the cost.  Why do these things increase cost?  Well, it has to do with risk.  Insurance companies use these factors to gauge risk and then will charge you the amount needed to ensure that they can still profit.


The Second Floor

The second floor of costs is made up by factors that you can change.  For example, a common thing that people can do is to take defensive driving courses to lower their insurance rates.  People can also decrease their rates by being the only person on their plan, or having a vehicle that is not considered in the specialty category.


The Attic

The last thing that can explain the cost of your plan is the coverage you decide to get.  Simply put, those with more coverage will end up paying more than those with basic coverage.  The amount you get will depend on how old your vehicle is and how much worth it has to you.