Cheap Car Insurance Quotes for Drivers Under 21 in Illinois

Wouldn’t it be so easy if you could know instantly the single best company that has the cheapest policy rates for drivers under 21? That is not the case, however, as there are a whole slew of unknown factors like if you have any driving citations, how far you drive each year, and your marital status, that all impact the price you pay. We will touch on some of these criteria and will give you a jump start in finding the best auto insurance in Illinois.

Comparing rates for cost effective auto insurance is not the easiest thing to accomplish, and deciding which companies offer the cheapest insurance rates for drivers under 21 requires additional perseverance. Policy rates may be much more than the average rate in Illinois due to the extra risk related to selling insurance for minors, but competitive insurance may be possible if you compare enough rates. Each company has a unique approach to set policy rates, so let’s begin by examining the insurance companies with the overall best prices in Illinois.

Best Insurance Companies for Minors

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The Hartford may have some of the cheapest car insurance rates in Illinois at around $746 per year. Rockford Mutual, Titan, Erie, and Cincinnati Insurance are also some of the best Illinois auto insurance companies.

As the rates illustrate above, if you are a policyholder with Erie and switched to Rockford Mutual, you could realize savings of in the vicinity of $49. Drivers with Cincinnati Insurance might save as much as $50 a year, and State Farm customers might reduce rates by $134 a year.

To find out how your current rates compare, click here to start your free quote or visit any of the low-priced companies below.

These estimates are averages for all ages of drivers and types of vehicles and do not take into consideration a price increase for drivers under 21. So the car insurance company that can offer you the lowest price may not even be in the company chart above. That’s why you need to get auto insurance quotes using your own specific driver and vehicle information.

The car, truck, or SUV driven is a large consideration that determines if you can find cheap auto insurance for drivers under 21 in Illinois. Vehicles with limited speed and performance, advanced safety features, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.

The next table features coverage rates for some of the most affordable vehicles to insure in Illinois.

Data rating is based on single male driver age 19, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in specific Illinois garaging location which can impact insurance rates significantly.

Based upon these rates, vehicles like the Honda CR-V, Ford Escape, and Hyundai Elantra are most likely going to be the most affordable vehicles to insure for minors. The price for car insurance will tend to be higher because of the fact that there is more inherent risk for drivers under 21, but in general those makes and models will have the cheapest auto insurance rates possible.

Types of discounts on Illinois car insurance rates

Insurers that provide cheap auto insurance for drivers under 21 in Illinois may also provide price discounts that can reduce rates by as much as 35% if you meet specific eligibility requirements. A few of the larger companies and a partial list of their discounts can be found below.

• 21st Century includes discounts for 55 and older, automatic seat belts, teen driver, student driver, anti-lock brakes, air bags, and theft prevention.
• State Farm discounts include driver’s education, good driver, Steer Clear safe driver discount, defensive driving training, and multiple policy.
• AAA policyholders can earn discounts including pay-in-full, AAA membership discount, multi-policy, multi-car, anti-theft, education and occupation, and good driver.
• Liberty Mutual offers discounts for preferred payment discount, teen driver discount, multi-policy, hybrid vehicle, safety features, and exclusive group savings.
• Progressive may include discounts for multi-policy, online signing, good student, homeowner, and continuous coverage.

The information below illustrates the comparison of premium costs with and without discounts applied. The price estimates are based on a female driver, no tickets, no at-fault accidents, Illinois state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with safe-driver, defensive driving course, passive restraint, homeowner, accident-free, and multiple vehicle discounts applied. When drivers qualify for the discounts, the the average amount saved on insurance for drivers under 21 is 28% or $522.

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Full coverage rates compared to liability only

Finding cheap auto insurance for drivers under 21 in Illinois should be important to most vehicle owners, and one common way to reduce the cost of insurance is to buy liability only. The illustration below illustrates the difference between insurance prices with full coverage compared to only the Illinois minimum liability coverage. The premium estimates are based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no additional discounts are factored in.

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Averaged for all ages 20 through 70, comp and collision coverage costs $1,672 per year more than carrying just liability coverage. That amount may make you wonder if it’s a good idea to buy full coverage. There is no clear-cut formula to exclude full coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

There are some conditions where removing full coverage is not advised. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage on your policy.

How to find low-cost auto insurance for drivers under 21

The list below summarizes many penny-pinching solutions that can help you get lower-cost car insurance.

• Having too many claims will increase rates substantially
• Don’t waste money on full coverage for older vehicles
• Good credit scores may make rates cheaper
• Increase your physical damage deductibles
• Buying your home and auto policies from the same company can earn a discount
• Safe vehicles cost less to insure
• Shop around for lower rates once a year

The last tip in the list is highly critical, as was pointed out in this piece. Prices charged by car insurance companies fluctuate constantly, so drivers shouldn’t be resistant to switch to a new company if a more affordable price is available. Loyalty to a specific company is fine, but is isn’t recommended if that stubbornness costs you hundreds of dollars a year. It only take a few minutes to shop around to find cheaper insurance for drivers under 21.