bestauto insuranceElgin2022Compare the Cheapest Car Insurance Quotes in Elgin, IL
The average rate of car insurance in Elgin is $873 per year. That is 23% less than the annual average of $1,134 in the state of Illinois. The cheapest rate is offered by GEICO at an average annual premium of $656. MoneyGeek identified the cheapest policies based on elected coverage amount and driving history. We also suggested the best car insurance in Elgin that offers affordability and quality service.
REVIEW AUTO INSURANCE RATES
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Advertising & Editorial DisclosureLast Updated: 11/30/2022
Edited By |
Morgan Hull
Written By |
Mark Fitzpatrick
On average, GEICO offers the most affordable policies for full coverage at $656 annually and for a state minimum policy at $338 annually. USAA is the cheapest insurance provider for military families. Erie and State Farm offer the lowest rates for drivers with driving violations. Erie ranked the highest overall for affordability and quality service.
bestauto insuranceElgin2022The Cheapest and Best Car Insurance in Elgin
The Cheapest Car Insurance Companies in Elgin
Elgin drivers looking for an affordable full coverage policy should consider the following companies:
- GEICO: $656 per year
- Mercury: $667 per year
AAA’s policies are the most expensive at an annual average of $1,320. Compared with GEICO’s rates, that is approximately 101% more expensive. A full coverage policy includes comprehensive and collision insurance with varying levels of liability coverage.
Cheapest Car Insurance in Elgin
Full Coverage 100/300/100
- Company100/300/100per year
- 1.$656
- 2.$667
- 3.$734
- 4.$739
- 5.$755
Per our methodology, MoneyGeek’s ratings are based on the driving profile of a 40-year-old male looking for a full coverage policy in Elgin, Illinois.
A full coverage policy adds collision and comprehensive insurance to the minimum coverage policy. At a higher premium, full coverage offers complete protection against the cost of damages to your vehicle.
- Comprehensive insurance: covers damages unrelated to a collision, such as theft, vandalism, animal damage and weather-related occurrences
- Collision insurance: covers at-fault collision-related damages
Before you get a full coverage policy, assess whether it is cost effective based on the value of your car. Full coverage may be more costly than the value of an older vehicle. In this case, consider state minimum or liability-only insurance.
Compare Car Insurance Rates in Elgin
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Elgin for Minimum Coverage
The cheapest insurance in Elgin is a minimum coverage policy. The two most affordable insurance companies for a minimum insurance policy are:
- GEICO: $338 per year
- Country Financial: $353 per year
MetLife offers the most expensive policy at an average of $671 per year, which is almost twice as much as a comparative policy from GEICO. A minimum coverage policy is the most affordable, but it does not offer as much protection as a full coverage policy. To save on premiums by not adding comprehensive and collision insurance, you could increase your liability coverage. Toggle the table to evaluate premiums.
Cheapest Minimum Liability Car Insurance in Elgin
State Minimum
- CompanyState Minimumper year
- 1.$338
- 2.$353
- 3.$355
- 4.$355
- 5.$364
The minimum car insurance requirement in Illinois requires that drivers hold a policy that meets the minimum of 25/50/20 in bodily injuries, property damages and other coverages. Minimum coverage is the cheapest available insurance for Elgin drivers. However, minimum coverage may not be enough to cover damages in an at-fault accident.
For example, if an at-fault accident totals $30,000 in property damage, your minimum insurance policy will cover $20,000. The remaining $10,000 would be your responsibility to pay out of pocket. Having full coverage would take this financial responsibility out of your hands.
Illinois Minimum Liability Requirements
- ItemDescription
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $20,000 for property damage. A more protective level is 100/300/100.
- Uninsured Motorist$25,000 per person and $50,000 per incident. The minimum coverage may not be enough if you're in a serious accident.
Cheapest Car Insurance in Elgin if You Have Driving Violations
Elgin drivers with violations should expect rates to be higher than the average driver. The following car insurance companies in Elgin offer the cheapest rates:
- Cheapest after a ticket: Erie at $774 per year
- Cheapest after an at-fault accident: State Farm at $950 per year
- Cheapest after a DUI: State Farm and Mercury at $874 per year
Although driving violations can affect your premiums for years, improving your driving record over time will allow you to appeal for a lower rate. In the meantime, comparing rates can help you save on premiums.
Cheapest Car Insurance in Elgin With a Violation
Speeding Ticket
- CompanySpeeding Ticketper year
- 1.$774
- 2.$794
- 3.$874
- 4.$884
- 5.$930
Average Cost of Car Insurance in Elgin
Elgin$873
Illinois$1,134
U.S.$1,424
The average cost of car insurance in Elgin is $873 per year, which is 23% less than the state average and 38.7% less than the national average.
Personalized Quotes to Get You the Cheapest Car Insurance in Elgin
Car insurance quotes are calculated based on various factors, including age, gender, vehicle make and model and ZIP code. Since factors are weighed differently among providers, comparing quotes can help you find the most affordable rates and discounts.
Compare Car Insurance Rates in Elgin
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
The Best Car Insurance Companies in Elgin
Based on average prices, customer satisfaction scores and claims ratings, MoneyGeek found the top car insurance companies in Elgin. The following are the top two insurers in the city:
- GEICO: 94.6 out of 100
- Erie: 94.4 out of 100
USAA received a MoneyGeek score of 95 out of 100, making it the best car insurance company in Elgin for current or former military members and their families. However, the insurer was excluded from our ranking because its policies are only available to current or former military members and their families.
1
GEICO
Score:95
GEICO boasts excellent financial stability and affordability scores. It offers one rare add-on coverage, mechanical breakdown insurance. For a 40-year-old driver in Elgin, a full coverage GEICO policy costs on average $656 per year.
More About GEICO
In Elgin, GEICO offers four additional supplemental coverage options: roadside assistance, rental car and/or travel reimbursement and accident forgiveness. Flat tire repairs, towing, lockout services and reimbursement for the cost of a rental car if your vehicle is rendered undrivable for more than 24 hours due to a covered accident are all covered under these policies. Meanwhile, GEICO’s rare mechanical breakdown insurance coverage can help cover the cost of replacing components and systems at a lower cost than a dealer's extended warranty.
Read MoneyGeek's GEICO auto Insurance Review2
Erie
Score:94
Erie received high scores for financial stability, customer satisfaction, claims and affordability. If your new car is totaled, Erie's better car replacement coverage will replace it with the most recent model year if you've had it for less than two years. A full coverage policy for a 40-year-old driver costs around $739 per year.
More About Erie
Erie offers a total of four add-on coverages: rental car and/or travel reimbursement, new car replacement, accident forgiveness and better car replacement. The latter is its rarest coverage, allowing policyholders who have had their car longer than two years to replace their car with a model that is two years newer. If your car is in the shop due to an accident, adding rental car expense coverage can cover the cost of transportation. Meanwhile, there is no cost the first time you are at fault in an accident after three claim-free years with Erie.
Read MoneyGeek's Erie auto Insurance ReviewAverage Cost of Car Insurance by Postal Code
Car insurance companies take into consideration where you live when calculating premiums. Some neighborhoods have higher theft rates, number of accidents and a higher probability of natural disasters. Consequently, location may contribute to higher or lower premiums.
Elgin is one of the few cities where ZIP code does not have much impact on premiums. The average car insurance rate in ZIP code 60120 is $872 per year. In comparison, Elgin drivers who live in ZIP code 60123 pay $1 higher.
- Zip CodeState Minimumper year
- 60120$872
- 60123$873
Factors That Impact Insurance Costs in Elgin
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Elgin. How Elgin ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
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