Cheapest car insurance in Peoria, IL

Amidst the hustle of Peoria, IL, State Farm takes the lead as the go-to auto insurance provider.

min read
Updated: 21 December 2023
Written by
Doug Schaffer
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In a dedicated 30-hour stretch, our team sifted through 58 car insurance quotes from 19 different providers in Peoria. After careful analysis, we identified State Farm and Auto-Owners as the top choices for insurance in the area.

State Farm shines as the ultimate auto insurance company overall, while Auto-Owners stands out for being budget-friendly, especially for those with driving offenses or those who want basic or comprehensive coverage.
Even though the usual monthly insurance cost in Illinois is about $150, Peoria’s average monthly rates are slightly higher, at around $194.

In the next parts of this guide, we’ll dive into how things like age, gender, location, and driving history affect the monthly cost of insurance for drivers in Peoria.

Cheapest and best car insurance companies in Peoria, IL 2024

Cheapest and best car insurance companies in Peoria 2024

Compare the cheapest car insurance companies in Peoria, IL

Average Annual Cost Best For JD Power Rating Overall Rating AM Best Rating Get A Quote
Auto-Owners

$840

Minimum Coverage

837

4.6

A++

Instant Quote
State Farm

$900

Best Affordable Coverage

842

4.9

A++

Instant Quote
Auto-Owners

$1,032

Full Coverage

837

4.6

A++

Instant Quote
Mercury

$1,053

Senior Drivers

829

4.1

A

Instant Quote
USAA

$1,632

Young Drivers

881

4.8

A++

Instant Quote
Auto-Owners

$1,507

Driving Violations

837

4.6

A++

Instant Quote
Scroll to see comparisons

Our methodology

Digging for the most wallet-friendly car insurance rates in Peoria, we delved into a comprehensive analysis of data from various car insurance review platforms. We also examined rates acquired from publicly available filings, gathered via Quadrant Information Services. Our evaluation got a boost from insights by our seasoned team of insurance professionals, boasting a collective twenty-five years of industry experience. It's important to remember that while the rates we present in this guide are accurate, insurance premiums can fluctuate daily and may be influenced by individual driver circumstances. Here's a quick rundown of our approach:

58

Quotes Analyzed

25

Years of Industry

19

Brands Reviewed

30+

Research Hours

Cheapest car insurance companies in Peoria, IL


Best Overall Rates

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Payouts
9/10 Coverage Level

Why We Like Them

Occasionally, going for the most budget-friendly choice doesn’t always guarantee top-tier quality and service. Yet, State Farm has managed to strike a balance, excelling in customer-focused service while effectively managing costs. On average, State Farm policyholders can expect to pay around $900 for their coverage.

Earning a reputation as one of the most affordable car insurance options in Peoria, State Farm also earns commendable ratings for overall customer satisfaction. Many individuals have shared positive experiences while interacting with their local agents.

For those currently exploring auto insurance options, it’s a wise move to have State Farm on your radar.

Benefits & Drawbacks

Benefits
  • Impressive customer service ratings
  • Affordable coverage choices catering to various driving requirements
  • Solid financial ratings on both J.D. Power and AM Best scales
  • Local agents available for face-to-face discussions
Drawbacks
  • Restricted range of personalized options
  • Absence of gap insurance provision for policyholders

Cheapest Overall Rates in Peoria

Company Average Rate Per Year
State Farm $1,148
American Family $1,309
Progressive $1,378
National General $1,368
Travelers $1,644

Cheapest Coverage for Motorists with Driving Violations

Overall Rating
4.6

Key Statistics

9/10 Affordability
8/10 Customer Reviews
8/10 Payouts
8/10 Coverage Level

Why We Like Them

Certain insurance companies heavily consider driving violations, often leading to challenges in finding affordable car insurance. However, Auto-Owners stands committed to offering economical car insurance options to a wide range of drivers, including those with past at-fault accidents or DUIs on their record.

While the exact impact of each violation on your coverage cost may vary, many drivers can still access car insurance plans through Auto-Owners at an average yearly rate of approximately $1,500.

While Auto-Owners might not hold the top spot in user experience among major insurance providers, their personalized consultations have proven advantageous for numerous policyholders.

Considering all factors, Auto-Owners emerges as an appealing choice for individuals with a few incidents in their driving history.

Benefits & Drawbacks

Benefits
  • In-person meetings can be scheduled for those wanting to establish a rapport with an agent
  • Affordable rates offered to most drivers
  • Eligible drivers can take advantage of benefits like accident forgiveness and diminishing deductible
Drawbacks
  • Service coverage is presently available in only 26 states
  • The online platform currently doesn't offer instant quote generation
  • Policy management features aren't accessible through the company's online portal

Your driving history plays a significant role in the monthly premium rates established by insurance companies. Individuals with clean driving records are seen as low-risk drivers, resulting in more favorable rates. Conversely, those with speeding tickets, DUIs, or at-fault accidents are categorized as “high-risk.”

Regrettably, people with past driving incidents often face noticeably higher premium rates, which can pose affordability challenges. However, some companies, like Auto-Owners, take a more lenient approach and provide benefits such as accident forgiveness.

Cheapest Rates for Motorists with Driving Violations in Peoria

Company Average Rate Per Year
Auto-Owners $735
State Farm $815
GEICO $838
Travelers $1,243
Progressive $1,022

 


Cheapest Full Coverage Rates

Overall Rating
4.6

Key Statistics

9/10 Affordability
7/10 Customer Reviews
8/10 Payouts
8/10 Coverage Level

Why We Like Them

Though not available everywhere, Auto-Owners is a great choice for Peoria drivers. They offer some of the most affordable full coverage rates in the state and prioritize a positive customer experience, especially if you prefer local agents.

While they don’t provide online policy management, the company offers helpful features. One standout is their accident forgiveness policy.

For most full coverage plans, Auto-Owners keeps the average yearly cost around $1,032.

Benefits & Drawbacks

Benefits
  • Qualifying policyholders can access a diverse array of discounts
  • Recognized by collision experts for their streamlined claims processing
  • Additional coverage options such as gap insurance, new car replacement, and diminishing deductible are offered
Drawbacks
  • Individuals requiring an SR-22 will have to seek coverage from an alternative insurance provider
  • Currently, coverage is restricted to just 26 states
  • Online or app-based application and policy management services are not currently offered

Although having the minimum state-required coverage is a must for all drivers, opting for comprehensive full auto insurance is up to you. But there are perks to investing a little more for added protection. With a complete full coverage auto policy, you get these coverages:

  • Property damage liability
  • Bodily injury liability
  • Comprehensive and collision protection

Cheapest Full Coverage Rates in Peoria

Company Average Rate Per Year
Auto-Owners $670
State Farm $750
GEICO $685
Travelers $1,001
American Family $1,584

Cheapest Rates for Young Drivers

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Payouts
8/10 Coverage Level

Why We Like Them

Before we explore USAA, it’s important to note that their coverage is exclusively tailored for active military members, veterans, and their families. If you fall within this category, including USAA when you’re gathering insurance quotes could be a wise move.

USAA stands out for its exceptional customer service and satisfaction ratings. They also offer competitive rates in Peoria, where young drivers typically face an annual coverage cost of around $1,632. USAA sweetens the deal by providing benefits like accident forgiveness and new car replacement.

Benefits & Drawbacks

Benefits
  • Noted for its exceptional customer service and superb user experience
  • Economical rates cater to a wide variety of drivers
  • Features include accident forgiveness and the opportunity for new car replacement
Drawbacks
  • Features include accident forgiveness and the opportunity for new car replacement
  • The option to incorporate gap insurance in an auto policy is conspicuously absent

Typically, insurance companies consider driving history a major factor when calculating premiums. Yet, assessing young drivers using the same criteria can be challenging due to their limited time on the road. Instead, many companies rely on data to anticipate the potential risks tied to teenage drivers.

As time goes on and more driver data is collected, many young drivers will likely observe their rates decreasing as they consistently adopt safe driving habits.

Cheapest Rates for Young Drivers in Peoria

Company Average Rate Per Year
USAA $1,524
Country Financial $1,692
State Farm $1,752
Travelers $2,203
Progressive $2,282

Cheapest Rates for Senior Drivers

Overall Rating
4.1

Key Statistics

8/10 Affordability
6/10 Customer Reviews
7/10 Payouts
7/10 Coverage Level

Why We Like Them

While Mercury Insurance might not score the highest ratings compared to some other providers, they do offer the most budget-friendly rates for seniors residing in Peoria. The usual yearly cost comes in at around $1,053. Mercury also provides additional benefits and options for policyholders, such as ride-sharing coverage and protection against mechanical breakdowns.

Benefits & Drawbacks

Benefits
  • Tailored affordable insurance choices for senior drivers and those with clean driving records
  • Specialized additional coverage is offered for ride-sharing drivers
Drawbacks
  • Elevated volume of customer complaints compared to industry standards
  • Limited options for customizing auto insurance policies
  • Coverage is confined to an exclusive 11-state region

Unlike younger drivers, seniors bring years of driving experience, giving insurance companies a wealth of data to consider when setting rates. If a senior driver has maintained a relatively clean driving record throughout their life, it’s common for their rates to be below average.

Furthermore, certain insurance companies might offer seniors lower rates if they use their vehicles less frequently. With fewer chances of accidents, providers often categorize seniors as “low-risk” drivers.

Cheapest Rates for Senior Drivers in Peoria

Company Average Rate Per Year
Mercury $1,053
Country Preferred Insurance $1,039
GEICO $1,109
Erie $1,257
State Farm $1,271

Cheapest Minimum Coverage Rates

Overall Rating
4.6

Key Statistics

9/10 Affordability
7/10 Customer Reviews
8/10 Payouts
8/10 Coverage Level

Why We Like Them

If you’re seeking straightforward coverage, finding a dependable company to assist you in case of accidents or damage is crucial. With Auto-Owners, you’ll benefit from a local agent who understands your specific needs. Additionally, Auto-Owners is recognized as one of the most budget-friendly options in the Peoria region.

For most customers seeking basic coverage, the annual cost with Auto-Owners typically falls around $840.

Discovering an alternative insurance provider that balances customer satisfaction and affordability for minimal auto insurance policies can be quite a task.

Benefits & Drawbacks

Benefits
  • Demonstrates robust financial performance across various independent agencies
  • Committed local agents oversee policies, fostering a strong bond between the company and policyholders
  • Budget-friendly rates cater to a wide range of driving situations
Drawbacks
  • Absence of online or app-based options for policy viewing and management
  • Coverage is limited to only 26 states
  • Presently lacks the capability to handle SR-22 filings

While plenty of folks lean towards comprehensive auto insurance, there’s a clever case to be made for choosing a minimal coverage plan. Picture this: you’ve got a fleet of vehicles, but one hardly sees the light of day. In that scenario, going with a basic plan for that seldom-used car is a smart move.

And if you’ve got a college-bound kid whose wheels will be chilling at home while they hit the books. You might want to dial down from full to minimum coverage for those wheels and pocket some savings.

In the end, a minimal coverage plan lets you stay road-legal and offers a safety net for fender-benders without going all out.

Cheapest Minimum Coverage Rates in Peoria

Company Average Rate Per Year
Auto-Owners $840
State Farm $872
GEICO $1,195
National General $1,313
Erie Insurance $1,381

Average cost of car insurance in Peoria, IL

Insurance Company Average Monthly Quote
Auto-Owners $88
State Farm $90
Geico $124
National General $139
Travelers $141

Average cost in Peoria – By age

Age Group Average Monthly Rate
Teenagers $372
Under 25 $240
25-29 $151
30s $142
40s $151
50s $137
60s $153
70s $132
80s $152

Average cost in Peoria – By Gender

Gender Average Monthly Cost
Female $94
Male $94

Average cost in Peoria – Marital Status

Marital Status Average Monthly Cost
Single $91
Married $88

Average cost in Peoria – By accident and violation history

Violation/Incident Type Average Monthly Rate
Clean Record $189
Speeding Ticket $142
DUI/DWI $174
At-Fault Accident $270

Average cost in Peoria – By credit tier

Credit Tier Average Monthly Rate
Excellent $84
Good $100
Fair $143
Poor $174

Average cost in Peoria – By Zip code

Zip Code Average Monthly Cost
60657 $54
60614 $54
60608 $56
60618 $57
60647 $57
60640 $57
60632 $58
60634 $58
60629 $58
60625 $58

Minimum car insurance requirements in Illinois

In Illinois, auto insurance coverage is mandatory for legally operating a motor vehicle. The law specifies the following coverage amounts:

  • $25,000 for injury or death of one person in an accident
  • $50,000 for injury or death of multiple people in an accident
  •  $20,000 for damage to someone else’s property

Not meeting these minimum requirements could result in fines of up to $1,000 and/or the temporary suspension of your driver’s license.

How to buy car insurance in Peoria

Navigating the realm of car insurance brings its challenges, not in securing the policy itself, but in understanding the steps to secure the coverage you need. If you’re new to this process, comparing policy options might feel like diving into the unknown.

To shed light on what lies ahead during your car insurance journey, here are five essential checkpoints you should be sure to follow:

Step 1: Gather all the necessary information upfront (such as vehicle details, driver’s license numbers, personal info of policy members, and driving history).
Step 2: Define the coverage amount required to meet Illinois legal obligations.
Step 3: Make the call on whether to buy your policy online or partner with a local agent.
Step 4: Compare quotes from at least three distinct auto insurance providers.
Step 5: Seal the deal on your policy purchase and send out the word to your previous insurer about the switch.

Factors that impact cost of your car insurance policy in Peoria

The calculation of your monthly car insurance premium is a puzzle pieced together by various factors. Take your zip code, for instance – it plays a pivotal role in shaping the rates handed out by insurers. Residing in an area prone to auto theft or vandalism can hike up your coverage costs.

But the spotlight isn’t solely on location. Car insurance companies also take into account these elements when crafting your rates:

  • Driving history
  • Vehicle type
  • Average annual mileage
  • Credit history
  • Marital status
  • Age
  • Gender
  • State-mandated insurance requirements

In the news

Information about Peoria

Peoria has nurtured a cultural scene that reflects the very essence of the region. Visionaries, musicians, and performers find solace here, contributing dynamic strokes of creativity to the city’s cultural landscape. Adding to Peoria’s distinction is its historical significance as the home of the Peoria National Watch Company, a testament to the city’s enduring legacy in watchmaking and craftsmanship.

Peoria’s allure goes beyond its artistic and historical facets. The city is embraced by lush natural beauty, with the Fox River running through its heart and serene parks dotting its landscape. From festivals to cultural events, Peoria continues to foster an environment where community and creativity thrive, inviting residents and visitors alike to become part of its vibrant tapestry.

Car insurance discounts in Peoria

When exploring car insurance options in Peoria, it’s about more than just finding the cheapest choice. Numerous insurers provide a variety of discounts that can notably lower your monthly coverage expenses. Let’s delve into a few of these discounts that you should definitely keep in mind before settling on your car insurance plan:

  • Paid in full
  • Multi-vehicle
  • Multi-policy
  • Military
  • Senior
  • Student away
  • Good student
  • Safe driver
  • Defensive driving
  • Low mileage
  • Accident-free

FAQs

Which company offers the cheapest car insurance?

For cost-conscious drivers in Peoria searching for budget-friendly car insurance, State Farm stands out as the go-to option. Among the array of choices in the city, this insurance company sets itself apart by providing economical coverage, with an average yearly cost of about $900

How much is car insurance in Illinois a month?

Your residence can impact your auto insurance rates, and while this holds true, the average cost for comprehensive car insurance coverage in Illinois typically hovers around $150 per month for most drivers.

Why is Illinois car insurance so high?

While various elements play a role in determining the monthly costs for Illinois drivers, one notable factor has been driving recent rate increases—uninsured drivers. With around 15% of motorists without insurance, insurance companies are adjusting premiums to account for the expenses incurred in accidents involving uninsured drivers.

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