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.
bestauto insurancePeoria2021The Cheapest and Best Car Insurance in Peoria
The Cheapest Car Insurance Companies in Peoria
Comparing various quotes from the best car insurance companies in Peoria, MoneyGeek determined that the cheapest full coverage policies come from:
- GEICO: $495 per year
- Mercury: $588 per year
Drivers in Peoria have to pay more than double if they purchase a similar policy from AAA, the city’s costliest insurer. With an average policy costing $1,143, AAA’s rate is 130.9% higher than GEICO’s.
The profile used for this research is a 40-year-old male driver with a full coverage policy that includes liability insurance to cover third-party expenses and collision and comprehensive insurance to cover the driver’s own costs.
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- CompanyAmountper year
- 1.$495
- 2.$588
- 3.$663
- 4.$674
- 5.$709
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.
The Best Car Insurance Companies in Peoria
Ideally, you want a carrier that provides excellent service while offering affordable policies. MoneyGeek ranked several providers and found the best car insurance companies in Peoria are:
- Erie Insurance: MoneyGeek score of 95 out of 100
- The Hartford: MoneyGeek score of 87.5 out of 100
USAA has the highest ranking but only offers its policies to present and former military members. Overall scores were determined 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:88
4
Auto-Owners Insurance Co
Score:88
5
GEICO
Score:88
6
Cincinnati Insurance Companies
Score:88
7
Country Financial
Score:85
8
State Farm
Score:85
9
Nationwide
Score:83
10
Esurance
Score:83
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:78
18
Hanover
Score:75
19
Liberty Mutual
Score:75
20
AAA
Score:75
21
Safeco
Score:73
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 carriers is encouraged because it may earn you savings from discounts or rebates as your circumstances change.
Shopping around for car insurance in Peoria could save you $296, which is enough to buy:
99Cups of Coffee
23Months of Your Favorite Streaming Service
Cheapest Car Insurance in Peoria by Coverage Amount
Of the various factors affecting the price of your policy, the one with the most impact is the amount of coverage you purchase. The difference in premium prices can reach $372, depending on the coverage limits you choose. A policy meeting minimum state requirements in Peoria only costs, on average, $419 per year. In comparison, a full coverage policy with 100/300/100 limits costs $791 annually.
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.
The amount of protection you want determines what coverage limit is appropriate. Policies that have 50/100/50 coverage limits cover costs up to $50,000 for medical bills per person, $100,000 for all medical bills in a covered accident and $50,000 for property damage. The premium varies depending on the amount of coverage you purchase.
GEICO, which offers affordable car insurance, offers a liability-only policy with 50/100/50 coverage for $297 per year on average. A full coverage policy, which includes collision and comprehensive insurance, costs an average of $445. For an additional $148 yearly, you can protect your vehicle against damages from an at-fault accident.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
Liability Only
- CompanyState Minimumper year50 / 100 / 50per year
- 1.$253$297
- 2.$296$329
- 3.$319$370
- 4.$317$357
- 5.$323$370
Full Coverage
- Company50 / 100 / 50per year100 / 300 / 100per year
- 1.$445$495
- 2.$548$588
- 3.$610$663
- 4.$624$674
- 5.$642$717
Cheapest Car Insurance in Peoria if You Have Driving Violations
Since insurers also factor in your driving record when computing rates for car insurance in Peoria, violations can result in higher premiums. Car insurance for a driver with a clean record costs $495 on average from GEICO. If you have a speeding ticket, that adds roughly $98, while an at-fault accident increases rates by an average of $211. Meanwhile, insurance for a driver with a DUI costs roughly $1,016, an increase of $521 compared to a driver with no violations.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 1.$593$706$1,016
- 2.$724$784$724
- 3.$706$887$1,067
- 4.$818$1,176$765
- 5.$919$962$1,020
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
Insurance Providers That Serve Peoria
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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