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Illinois Insurance Information

Are you paying too much for car insurance? Find out now.

 

Forbes magazine press article on technology executive, author and founder Dan Karr
ValChoice is “Carfax for…insurance”

-Giovanni Rodriguez

Hi. I'm Dan. Dan Karr, Founder of ValChoice I was hit by a car

and no insurance company would pay my bills.

Now my mission is to help you find insurance that is reliable and a good value. I do that by providing transparency into insurance companies.

Use our car insurance calculator to:

  • Find the fair price for your insurance
  • Learn the cost impact if you:
    • Get a different or additional car
    • Add another driver
    • Cause an accident
    • Get a ticket
    • Etc.

I Founded ValChoice After Being Hit by a Car

Watch this video to learn more about it

About the IL Car Insurance Calculator

Insurance prices vary dramatically. We've analyzed many buyers (same address, car, driving record, credit score, etc) and found that on average prices for the exact same buyer vary by a factor of eight. That's when we realized, consumers need an insurance calculator. Our Illinois car insurance estimator uses the most common pricing methodology. Our results are an average across the industry.

  • media_coverage_1-17c
  • Associated Press
  • Forbes on technology disrupting consumer insurance markets
  • Chicago Business Journal on Car Insurance
  • New York Times columnist Gretchen Morgenson on the value of mutual insurance
  • Chicago Business News, Chicago Illinois on home insurance
  • Rockford Register Star, Rockford, Illinois on home insurance
  • Belleville News Democrat, BND.com, Belleville, Illinois
  • WAND, NBC TV, Decatur, Illinois

Best Value for Car Insurance in Illinois, 2017/18

Rockford Mutual Insurance award for A Best Overall Value for Illinois auto insurance

Rockford Mutual Insurance Company was named A Best Value for car insurance in 2017/18 for the state of Illinois.

The ValChoice grading system reviews nearly every insurance company, in every state. Each year we identify the best company, by state. Companies are chosen solely based on our independent, unbiased analytics.

Rockford Mutual Insurance

ValChoice does not receive payment for you buying insurance from this company. We may receive payment for introducing you to this company or their agents.

Illinois Car and Home Insurance Rates and Trends

Auto Insurance In Illinois

The five largest auto insurance companies in Illinois are shown in the table below. The market share of each company is shown in the second column. The third column shows their most recent ValChoice Score. ValChoice Scores are only presented for companies with above average performance. For the companies where the needle on the gauge is missing, you can order a free report to get the ValChoice Score. This information is presented so you can reliably compare Illinois auto insurance companies in order to understand your options for the best car insurance.

The ValChoice scoring system takes into account how they price, their historic performance for claims handling and the level of service they provide. This scoring system uses high quality data and grades on a curve. This approach to grading yields companies that score as high as 100 and as low as 0. Only a system like this gives consumers a true picture of the performance of car insurance companies. For more details on any given company, order a ValChoice report.

Compare Auto Insurance Companies in Illinois

Market ShareValChoice Score
COUNTRY Financial Property Casualty6.64%
gauge 93
93 out of 100
GEICO (Berkshire Hathaway Insurance )6.76%
gauge 54
54 out of 100
State Farm30.25%
gauge 50
50 out of 100
Allstate Insurance11.46%
gauge below average
Progressive Insurance6.84%
gauge below average
ValChoice only comments publicly on companies that are above average. For any company that is below average we don't publicly display the score. For those interested, scores on all companies are available with free reports. All analysis based on quantitative, high-quality data. Data sources include: SERFF, state insurance commissioners, National Association of Insurance Commissioners and AM Best Company. Data used by permission.

Illinois laws require drivers to have the minimum insurance coverage shown in the table below. The important point to know about auto insurance coverage amounts is they define the maximum amount any Illinois car insurance company is obligated to pay. If the costs are more than the amount of insurance coverage you purchased, you will be personally responsible for the costs above your coverage limits. More information on how insurance coverage protects you is included below the table.

Minimum Car Insurance Coverage Required in Illinois

Minimum Coverage
Bodily Injury, per person 25,000
Bodily Injury, per accident 50,000
Property Damage 20,000

Types of Illinois Car Insurance

Under Illinois insurance laws, the costs of an accident are allocated to the driver who is at fault. This means, if you cause an accident, your insurance pays the medical bills, lost wages and cost of repairing the cars and property you damaged. If you don't have insurance, or don't have enough insurance, you are personally responsible.

Bodily InjuryProperty DamageProtecting YourselfUninsured/Underinsured Motorist

Bodily Injury Protection

Bodily injury protection is a type of liability insurance. Liability insurance means it pays for the other party, not you. In the table above the minimum bodily injury coverage you can buy in Illinois is specified in the first line of the table. The minimum bodily injury coverage amount you can purchase to pay the bill when more than one person is injured in an accident is shown in the second line of the table.

Property Damage Protection

The property damage protection that is required under Illinois law is also liability insurance coverage. Property damage liability insurance pays for repairs to the other person's vehicle or property, not your own. The maximum amount the car insurance company will pay on your behalf is the coverage limit that you purchased. If you want coverage above the minimum amount, that can be purchased but is not required.

Protecting Yourself, Your Passengers and Your Car

Coverage for your own vehicle, yourself and your passengers can also be purchased. However, this type of accident insurance is not required by law. Instead, it's optional. Reasons you may not want this additional car insurance could be that you have an old car that isn't worth repairing if something happens. You may not want bodily injury coverage for yourself if you have a good health insurance policy. However, don't forget that when you are the driver, you need to protect your passengers too. When you take the option to buy bodily injury insurance for you and your passengers, it is sometimes called personal injury protection. Personal Injury Protection (PIP) is a type of accident insurance where your own car insurance company pays first. This is not required in Illinois. Don't let the different terms confuse you.

Drivers often wonder what coverage they have for a vehicle that gets damaged by floodwater. Floodwater damage protection is part of your comprehensive insurance. For more details on insurance coverage for flooded vehicles, read our blog post titled "Does Your Car Float Like a Boat? What to do if it Won't!"

Uninsured Motorist and Underinsured Motorist

Despite laws that every driver have auto insurance, not everyone does. Or, they don't have enough coverage to pay the costs of a serious accident. Uninsured motorist coverage will pay the costs the other drivers insurance should have paid when they don't have insurance to cover the cost of an accident. Uninsured or underinsured motorist insurance changes the arrangement so your auto insurance company will pay the costs the other drivers insurance doesn't cover.

Getting an Auto Insurance Quote

When you get a car insurance quote, be sure to get an example of the insurance policy, or the declarations page. This will be proof of how much insurance you're actually buying. Also, be sure to keep a copy of the insurance policy so you know the full extent of your coverage.

Always ask your agent to provide you with a ValChoice report. ValChoice reports are the only reliable way to know how well insurance companies perform for providing a good value, their performance when handling claims and the level of service they provide.

 

How Good is Your Car Insurance?

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Homeowners Insurance In Illinois

Illinois Homeowners Insurance Premium Calculator

Illinois Home Insurance Rate CalculatorThis calculator is an average of homeowner insurance premiums across the state. Individual prices will vary depending on factors such as deductibles, coverage and the risks associated with the specific area where you live.

Use this calculator to estimate home insurance prices in Illinois. Just enter the replacement value (cost to rebuild, not including the land).

 

Illinois Homeowners Insurance Rates and Trends

The five largest home insurance companies in Illinois are shown in the table below. The market share of each company is shown in the second column. The third column shows their most recent ValChoice Score for homeowners insurance. ValChoice Scores are only presented for companies with above average performance. For companies where there is no needle on the fuel-gauge-style image, you can order a free report to get the ValChoice Score. This information is presented so you can reliably compare Illinois homeowners insurance companies in order to understand how to get the best homeowners insurance.

The ValChoice scoring system takes into account how they price, their historic performance for claims handling and the level of service they provide. This scoring system uses high quality data and grades on a curve. This approach to grading yields companies that score as high as 100 and as low as 0. Only a system like this gives consumers a true picture of company performance. For more details on any given company, order a ValChoice report.

Compare Homeowners Insurance Companies in Illinois

Market ShareValChoice Score
State Farm33.07%
gauge 80
80 out of 100
COUNTRY Financial Property Casualty8.43%
gauge 71
71 out of 100
Allstate Insurance12.05%
gauge 60
60 out of 100
Farmers Insurance5.80%
gauge 59
59 out of 100
Liberty Mutual Insurance Companies4.93%
gauge 57
57 out of 100
ValChoice only comments publicly on companies that are above average. For any company that is below average we don't publicly display the score. For those interested, scores on all companies are available with free reports. All analysis based on quantitative, high-quality data. Data sources include: SERFF, state insurance commissioners, National Association of Insurance Commissioners and AM Best Company. Data used by permission.

Renters Insurance

Many companies that offer homeowners insurance also offer renters insurance. The ValChoice grading system applies to renters insurance as well as home insurance. To get a report on renters insurance, simply select homeowners insurance and choose the type of insurance report card you would like to have.

Flood Insurance

Flood insurance is offered separately from homeowners insurance. Talk to your insurance company or insurance agent if you wish to purchase flood insurance. At this time ValChoice does not grade any flood insurance offerings. For more information on flood insurance, read our blog post titled "10 Facts About Flood Insurance, Without Drowning in Details."

Getting an Insurance Quote

When getting a homeowners insurance quote, be sure to consider the following important items.

Amount of Coverage

The dollar amount of insurance coverage to purchase should be equal to the estimated cost of rebuilding the home. Do not include the property value when determining the amount of insurance to buy.

Extended Dwelling Endorsement

This coverage is often referred to as “extras.” This is additional coverage that addresses the problem that occurs when the actual cost to rebuild the home is more than was estimated when buying the insurance. In situations where there is a catastrophic event such as a flood, tornado or hurricane, building costs can increase significantly due to building materials increasing in price and contractors being scarce. Extended dwelling endorsements cover this higher than expected building cost. Extended dwelling endorsements are typically offered as a percentage of the coverage amount. The amount offered is commonly 10%, 25%, 50% or 100% of the coverage.

Building Code Coverage

When rebuilding a home, local laws will require that you rebuild to current building codes. If building damage is extensive, sometimes the laws even require you to upgrade the undamaged portion of the home to meet current building codes. This can be a significant additional expense. It's common that a homeowners insurance policy will exclude or limit the coverage for conforming to current building codes. Be sure to understand this important point about the insurance you buy.

Loss of Use

This specifies how much and how long the insurance company will pay for you to live somewhere else while your home is being rebuilt or repaired. One year in loss of use coverage is common. If your home requires a total rebuild, it’s wise to plan on a couple years for the project to be completed.

Covering Your Personal Items (“Contents”)

Your personal items will commonly be covered by what’s known as “replacement cost” coverage. This means you only get paid when you actually replace the item. There are two important items to understand here. 1) You must have a detailed home inventory to know what you had in order to replace these items, and 2) if you had $200,000 worth of contents and only replaced $20,000 worth of items, you would only receive the $20,000. “Replacement cost” sounds good. In reality, it may leave you far short of what you expected.

 

Important Insurance Laws - Illinois

Illinois Insurance Regulation

The Illinois Department of Insurance develops and enforces insurance laws for the state. Consumers can contact the department with questions and complaints about their home and auto insurance. If you do not receive the service you expect from an insurer, you can file a complaint directly with the Department of Insurance. The state of Illinois does not make insurance complaint information available for consumers to use when making insurance purchase decisions.

Important Laws

A summary of the driving safety laws for the state of Illinois can be found at this linkThe information includes a summary of the laws affecting people driving cars, or riding motorcycles or bicycles while using cell phones or texting. Also included are the requirements for child safety seats, wearing a helmet and being under the influence while operating a vehicle in the state of Illinois.

The Illinois Statute of Limitations defines the time limit following an accident when you can file a lawsuit. Once this time limit has passed, you can no longer file a lawsuit.

Resources Available to Consumers

The Small Claims Court is available for consumers to resolve issues, without needing to hire an attorney. This link to the small claims court provides more information, including the dollar limit of claims that can be made in this court.

The Federal Emergency Management Agency (FEMA)is for disaster victims who are uninsured, underinsured or the victim of a flood.