Why is car insurance going up in illinois?

In September, Allstate and State Farm said they had continued to increase their rates due to inflation and the increasing severity of car accidents. In November, Insurefy indicated in the conclusions of its report on insurance trends that, due to the economic climate, “it is difficult to anticipate which companies will increase their rates and when. Auto insurance rates in Illinois are rising with inflation, and some people pay up to 30 percent more for car insurance. The industry emphasizes that car insurance is highly competitive in Illinois, so consumers can respond to strong rate increases by switching.

However, many don't. Withholding at Allstate remains at nearly 90% nationwide, despite multiple rate increases in most states over the past 18 months. Advocates and legislators plan to introduce auto insurance reform legislation in the current legislative session. Vásquez said that Allstate's Chicago offices in River Point and Merchandise Mart will reopen soon, and that the insurer is also “exploring options for new office space in the Northbrook area, to accommodate employees who want to work from an office.” While liability insurance is necessary, experts say that if your car isn't worth much, you might want to consider leaving your comprehensive and collision insurance to reduce your bill.

They and the Illinois Public Interest Research Group have been monitoring car insurance price increases. You can also try to save by combining car insurance with a home insurance policy and considering increasing your deductible, which means that you would pay more to repair your car after an accident. While Illinois requires all car owners to purchase insurance, it's one of only two states that doesn't protect insurance customers from excessive or unfair rates. A coalition of 15 community and consumer groups is lobbying for the passage in Springfield of a bill that was just introduced to give the Illinois Department of Insurance the power to reject increases in auto insurance rates.

William McNary, co-director of Citizen Action Illinois, said today that a driver with the same driving attributes and history who lives in the mostly black neighborhood of Austin, Chicago, will see their car insurance costs substantially reduced if they move just a few blocks west to the thriving Oak Park. CHICAGO (WLS) — Your car insurance bill may have increased significantly lately and some consumers may pay up to 30% more.

Leave Reply

Required fields are marked *