bestauto insurancePeoria2022Compare the Cheapest Car Insurance Quotes in Peoria
Each year, drivers in Peoria pay an average of $791 for car insurance, lower than the Illinois average by 30.2%. GEICO offers the cheapest car insurance in Peoria at $495 per year on average. MoneyGeek also determined the cheapest policies by coverage amount and driving history. For drivers valuing both affordability and excellent service, we recommend the best car insurance companies in Peoria.
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Last Updated: 5/16/2022
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On average, GEICO offers the most affordable rates for full-coverage and state-minimum policies. This provider also delivers the cheapest rates, on average, for drivers with a speeding ticket on their records.
Erie ranks as the best overall provider in the city by MoneyGeek’s standards for balancing affordability and strong customer service.
bestauto insurancePeoria2022The Cheapest and Best Car Insurance in Peoria
The Cheapest Car Insurance Companies in Peoria
MoneyGeek compared various quotes from the best car insurance companies in Peoria. Our research revealed that the cheapest full-coverage policies, on average, come from:
- GEICO: $495 per year
- Mercury: $588 per year
Drivers in Peoria have to pay more than double for similar policies from AAA, the city’s most expensive insurer. With an average policy of $1,143, AAA’s rate is 130.9% higher than GEICO’s. A full-coverage policy provides complete protection, including basic liability insurance, collision and comprehensive coverages. Prices change as you modify your liability limits.
Cheapest Car Insurance in Peoria
Full Coverage 100/300/100
- Company100/300/100per year
- 1.$495
- 2.$588
- 3.$663
- 4.$674
- 5.$709
MoneyGeek used a sample profile of a 40-year-old male driver seeking a full-coverage policy to receive average rates in the city. Our methodology page offers more insight into our analysis.
Full-coverage policies, which typically include liability insurance, along with collision and comprehensive insurance, are generally more expensive than state-minimum coverage. Details on these additional coverages include:
- Collision Insurance: This pays for repairs on your vehicle damaged due to collisions with other vehicles or stationary objects, like trees and street lamps.
- Comprehensive Insurance: This coverage protects against vehicle damages related to theft, vandalism, hail or natural disasters.
A full-coverage policy is recommended for new car owners, as vehicle repairs on a newer purchase are more expensive. However, if the annual premiums on a full-coverage policy equal or exceed what the insurer would have to pay to repair an older vehicle, a state minimum policy may be a better choice.
Compare Car Insurance Rates in Peoria
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Peoria for Minimum Coverage
State-minimum car insurance policies are the most affordable option in Peoria. The following companies offer the lowest rates for state-minimum coverage in the city, on average:
- GEICO: $253 per year
- Mercury: $296 per year
On average, AAA offers the most expensive state minimum policy at $540 per year — over twice as much as a comparable policy from GEICO. While a state-minimum coverage carries the cheapest costs, it might not offer enough financial protection following an accident.
Unlike a full-coverage policy, state-minimum coverage has low liability limits and does not have collision and comprehensive insurance. The following table offers insight into how rates vary with different coverage levels.
Cheapest Minimum Liability Car Insurance in Peoria
State Minimum
- CompanyState Minimumper year
- 1.$253
- 2.$296
- 3.$317
- 4.$319
- 5.$321
A state-minimum policy is the cheapest option for those looking to save on their premiums. While these policies meet the state’s minimum requirements, liability-only coverage may not offer enough coverage protection in case of an accident.
For example, if two injured passengers accumulated a medical bill of $60,000, a state minimum-insurance policy only covers up to $50,000 total injuries, leaving you to pay the remaining $10,000 out of pocket.
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 Peoria if You Have Driving Violations
A bad driving record, including a history of speeding tickets, at-fault accidents and DUIs, typically leads to higher premiums.
The following companies offer the lowest rates, on average, for these violations:
- Cheapest After a Ticket: GEICO, $593 per year
- Cheapest After an At-Fault Accident: GEICO, $706 per year
- Cheapest After a DUI: State Farm, $724 per year
Drivers can reduce their car insurance rates over time by improving their driving behaviors. However, since violations may stay on record for a minimum of a year, one effective way to reduce cost immediately is to shop around for companies that offer cheap policies after a driving violation.
Cheapest Car Insurance in Peoria With a Violation
Speeding Ticket
- CompanySpeeding Ticketper year
- 1.$593
- 2.$706
- 3.$724
- 4.$818
- 5.$851
Average Cost of Car Insurance in Peoria
Peoria$791
Illinois$1,134
U.S.$1,424
If you analyze the average rate of car insurance in Peoria, it comes out lower than the averages for Illinois and the United States. Drivers in Peoria pay roughly $343 less per year than the average driver in Illinois. Car insurance in the state costs $1,134 on average, making Peoria’s rate 30.2% lower. The difference becomes even larger when compared to the national average, which is at $1,424 per year. That’s a 44.5% difference, which translates to $633.
Personalized Quotes to Get You the Cheapest Car Insurance in Peoria
Insurers use several factors to determine your car insurance quote. These include your car’s make and model, the number of miles driven yearly and the coverage levels you want to purchase. Comparing quotes regularly from different car insurance carriers is encouraged because it may earn you savings from discounts or rebates as your circumstances change.
Compare Car Insurance Rates in Peoria
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
The Best Car Insurance Companies in Peoria
Ideally, you want a carrier that provides excellent service with affordable policies. MoneyGeek ranked several providers and found that the best car insurance companies in Peoria are the following:
- Erie: MoneyGeek score of 95 out of 100
- The Hartford: MoneyGeek score of 87.5 out of 100
USAA received the highest overall score. However, we did not include this provider in our rankings, as its policies are only available to military members and their families. We determined overall scores through an internal system that considers affordability, financial strength and user experience based on J.D. Power survey results.
1
USAA
Score:100
2
Erie
Score:95
3
Hartford
Score:87.5
4
Auto-Owners Insurance Co
Score:87.5
5
GEICO
Score:87.5
6
Cincinnati Insurance Companies
Score:87.5
7
Country Financial
Score:85
8
State Farm
Score:85
9
Nationwide
Score:82.5
10
Esurance
Score:82.5
11
Grange
Score:80
12
Progressive
Score:80
13
Allstate
Score:80
14
American Family
Score:80
15
Travelers
Score:80
16
MetLife
Score:80
17
Farmers
Score:77.5
18
Hanover
Score:75
19
Liberty Mutual
Score:75
20
AAA
Score:75
21
Safeco
Score:72.5
Average Cost of Car Insurance by Postal Code
Insurance providers also use your ZIP code when computing the cost of car insurance in Peoria. Your postal code determines the risk level of your neighborhood. Factors like the number of car accidents, auto thefts and uninsured motorists may cause your annual premium to increase.
The difference in rates between postal codes in Peoria is negligible. Car insurance quotes in Peoria for the 61614 ZIP code average $789 per year. In comparison, those with a 61604 ZIP code pay $792 yearly. That’s only a $3 difference. You can also use postal codes to compare statewide car insurance rates in Illinois.
- Zip CodeState Minimumper year
- 61614$789
- 61604$792
Factors That Impact Insurance Costs in Peoria
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 Peoria. How Peoria ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Peoria are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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