Champaign Car Insurance
Illinois is a great place for families to put down roots. With top-ranked school systems, rising home values, and a long list Fortune 500 employers, Illinois is home to a lot of opportunities.
While there are many different cities to choose from, Champaign, Illinois is one that's showing promise. With several family-oriented amenities and a high affordability ranking, it's a place that you can consider setting your roots.
If you're considering moving to Champaign, it's important to do research on the public transportation system. While the city does have some public transportation, it has only a moderate walk score and transit score.
Because of this, you need a car to get most places. Before you buy a car, here's what you need to know about statewide auto insurance laws.
Read through this article and then enter your zip code above to find the best car insurance rates from top providers in Champaign!
Auto Insurance is Mandatory in the State of Illinois
Auto insurance in Illinois is mandatory. Since it's part of the state's vehicle code, any resident in Champaign or any other city in Illinois must comply.
Anyone who owns a vehicle that's registered in Illinois must buy sufficient auto insurance coverage to protect other consumers on the road. Failing to comply with the mandatory auto insurance law could result in fines and other penalties.
What limits of liability are required by law in Illinois?
Every state has its own unique auto insurance requirements.
In 2015, the auto insurance requirements were changed so that vehicle drivers were better able to pay for the damages that they caused. Now, all drivers must carry the following limits of liability or they aren't in compliance with the state law:
- Bodily Injury Liability: $25,000 per person, $50,000 per accident
- Property Damage Liability: $20,000 per accident
What does liability insurance pay for?
Bodily Injury Liability is a third-party coverage that pays for a victim's medical expenses, emergency transportation, pain & suffering and other related expenses.
Property Damage Liability is third-party coverage that pays for the victim's car or other real property.
Your policy will only pay when you or a driver in your home is found to be at-fault.
Is any other type of insurance required?
Not only must you have liability insurance, you're also required under the law to carry Uninsured Motorist Protection.
UM pays for the bills that you incur after you've been injured in an accident with a hit-and-run driver or a driver without insurance. By law, you must have limits that match the minimum amount of Bodily Injury coverage.
Are there a lot of uninsured drivers in Champaign?
Uninsured motorists are a problem nationwide. While it's a problem everywhere, the problem is more severe in some regions.
Illinois is ranked 20th on the list of states with the highest rates of uninsured drivers.
Based on the statistics that were most recently released, around 13.3 percent of all drivers in Illinois are driving without active coverage.
While it does help to look at statewide statistics, that doesn't really paint the picture in your area. If you want to know how many drivers don't have coverage in Champaign County, here's the math.
Since the population of the county is 208,861, about 27,780 drivers living in the county aren't insured. That's why you should consider raising your UM limits.
What are the penalties for driving without insurance in Illinois?
Auto insurance is mandatory and failing to carry coverage can land you in hot water with the law.
Being uninsured can cost you a pretty penny in the form of fines and other non-monetary penalties. Here are some of the penalties that could be assessed if you're caught with a lapse:
- Fines between $501-$1,000
- A license suspension for 3 months
- A reinstatement fee for license of $100
- Fine of $1000 for third-offense
- Proof of insurance required for 3 years
Do you need higher limits of liability?
Minimum limits of liability did go up, but they are still low when you consider how much damage you can cause in an accident.
If you carry the state minimums, your policy will only pay up to $50,000 for third-party medical bills, settlements, and lost wages no matter how many people are hurt.
Considering that just a broken arm costs an average of $3,500 to treat, you can imagine how much it costs to treat serious injuries. When you're raising your limits, it does help to know that Champaign has a high a high health care cost index. In fact, medical care costs about 9% more than it costs on average nationwide.
Not only should you raise your Bodily Injury limits, but it's also wise to consider raising your Property Damage limits as well.
While the $20,000 limit is higher than some states require, it's still rather low if you're in a multi-car accident. The limit can barely replace a standard vehicle so it's better to raise it.
Is there coverage to pay for your medical bills?
If you're at fault in an accident, you can't rely on someone else's liability insurance to pay for your medical bills. That's why it's helpful to add Medical Payments to your auto insurance policy.
Medical Payments is a no-fault coverage that will pay for immediate medical bills incurred by you, drivers in your home, and your passengers.
Is there coverage to pay for vehicle repairs?
By law, you don't have to carry any type of insurance that'll pay for the repair or replacement of your own property.
With this being said, physical damage coverage may be required under your contract if your car is leased or financed. Failing to carry 'full coverage' on your financed vehicle could result in expensive forced-placed lender insurance.
When you add physical damage coverage to your policy, you'll have comprehensive coverage and collision coverage.
Comprehensive pays for losses like fire, theft and flood. Collision pays for losses after a collision with any type of object. The physical damage coverage will only pay up to the actual cash value of your car minus your deductible.
Do you really need physical damage coverage in Champaign?
If you're debating whether or not to purchase physical damage, it might help to look at crime rates and accident rates in your area.
Based on the latest statistics released, Champaign has a high rate of property crime. In fact, your chances of being a victim of a motor vehicle theft is 1 in 37. The chances are only 1 in 48 statewide.
Carrying comprehensive for theft protection is wise, but that doesn't mean that you have to carry collision.
It can help to look at accident trends in Illinois. Based on the latest reports, there were 296,049 crashes in a single year in Illinois. Since this number is up 4.7 percent, it's wise to carry collision if it makes financial sense.
How much does physical damage coverage cost?
One way to weigh the pros and cons of carrying physical damage coverage is to determine how much it'll cost you.
To get the exact price you'll need to get a quote, but you can look at the average cost for full coverage just to get a general idea.
Illinois is ranked 27th in auto expenditures. Here are the average premiums reported in Illinois:
- Comprehensive: $116
- Collision: $278
How are your auto insurance premiums calculated in Illinois?
Auto insurance companies that are licensed to do business in Illinois aren't free to charge you whatever they want. All companies must file their rates for approval through the Department of Insurance.
The department will then review the filing to ensure that it fits into the competitive marketplace and that the rates are fair.
Even though rates have to be approved, the filings are definitely different from company to company. Insurance companies will use a long list of rating factors to personalize rates whenever they quote and issue a policy. The rating factors help companies assess risk. Here are the most
Here are the most common factors that can affect your premiums:
- Your driving record
- Your accident history
- Years of driving experience
- Age and gender
- Your occupation
- Driving habits and mileage
- Credit score
- Your vehicle type
- Your zip code (North Mattis rates cost more than Windsor Road areas)
If you want to get the best rates, the best tactic is to price shop the cost of coverage through several carriers selling products in Champaign.
After you have a handful of quotes, you can choose which company is best based on their pricing and their reputation. If you want to get a bunch of quotes in a matter of minutes, use an online rate comparison tool. After you've retrieved your quotes, review them thoroughly and make your final decision.
To get started searching for car insurance quotes, enter your zip code below. You will be able to browse through rates from multiple companies in your area to make an informed decision on which coverage option is best for you.