Best cheap car insurance in Elgin for 2021

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Every driver in Elgin, Illinois, is legally required to carry a minimum amount of car insurance. The average annual cost of car insurance in the city is $1,448 for a full coverage policy and $498 for a minimum coverage policy. To find the best car insurance in Elgin, we reviewed the largest providers based on criteria like average rates, policy options, discounts.

Best car insurance companies in Elgin

There are dozens of car insurance companies that service drivers in Elgin. Based on our comparison, the best insurers are Erie, State Farm, Country Financial and MetLife. In addition to low rates, these four companies also have great coverage options, generous discounts and high ratings for overall customer satisfaction from J.D. Power.

Insurance company J.D. Power score Average annual premium for minimum coverage Average annual premium for full coverage
Erie 857/1,000 $369 $1,035
State Farm 851/1,000 $403 $986
COUNTRY Financial 850/1,000 $520 $1,520
MetLife 849/1,000 $628 $1,579

Erie

Erie was rated the top insurance company for overall customer satisfaction in J.D. Power’s most recent auto insurance study. Erie stands out for its affordable rates, good customer service and variety of unique policy perks. Its car insurance policies can include a rate lock guarantee, first accident forgiveness, a diminishing deductible, new car and better car protection, pet injury coverage and other valuable features.

State Farm

State Farm is the largest car insurance company in the country. Based on our sample rates, State Farm offers the cheapest car insurance in Elgin. Drivers can save even more by taking advantage of State Farm’s discounts or enrolling in one of the two safe driver rewards programs. For extra protection, drivers can add rental car reimbursement, rideshare insurance or roadside assistance.

COUNTRY Financial

COUNTRY Financial is a regional insurance provider that is highly rated by J.D. Power for overall customer satisfaction. The company has low rates and a number of unique discounts, including savings for teachers, first responders, engaged couples and good students. Elgin drivers can customize their policy by purchasing endorsements like trip interruption coverage, personal effects coverage and new car replacement coverage.

MetLife

MetLife (now Farmers Insurance Group) is a solid car insurance company all around. In addition to low rates, MetLife also offers some of the best add-on coverages, including roadside assistance, identity theft coverage, new car replacement, special parts coverage and enhanced car rental car coverage. In terms of discounts, MetLife offers savings for being a safe driver, signing up for automatic payments, bundling a home and auto insurance policy and belonging to an affinity group.

Cheapest car insurance in Elgin

The average annual cost of car insurance in Elgin is $1,448 for full coverage and $498 for minimum coverage, which is more expensive than the average rate in Illinois. For comparison, the average Illinois driver pays $1,485 for full coverage insurance and $442 for minimum coverage insurance. That is slightly less than the national average rate of $1,674 for full coverage.

Car insurance companies in Illinois charge different rates for coverage. In the table below, we included the cheapest car insurance rates in Elgin from the largest carriers by market share:

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $276 $820
Nationwide $324 $897
Mercury $331 $984
Erie $369 $1,035
State Farm $403 $986

When comparing cheap car insurance companies in Illinois, it is important to look beyond price.
State Farm and Geico offer very limited coverage options. All these companies have discounts, but the savings available vary. Erie and State Farm were the only two companies rated above-average for overall customer satisfaction by J.D. Power in terms of third-party ratings. Nationwide and Geico were rated below average, and Mercury was not rated at all.

Elgin insurance requirements

Drivers in Elgin must meet Illinois’ minimum car insurance laws, which are abbreviated as 25/50/20. The required coverages are personal liability insurance and uninsured motorist liability insurance with the following coverage limits:

  • $25,000 in bodily injury liability per person
  • $50,000 in bodily injury liability per accident
  • $20,000 in property damage liability per accident
  • $25,000 in uninsured motorist bodily injury per person
  • $50,000 in uninsured motorist bodily injury per accident

While minimum coverage insurance is the cheapest option, it is not recommended by insurance companies. There is no guarantee that a minimum coverage policy will cover the full cost of an at-fault accident. If you hit another driver and your financial responsibility exceeds the policy’s limit, you have to pay the difference out-of-pocket. If you do purchase higher coverage limits, Illinois law requires you to also carry underinsured motorist bodily injury coverage on your auto policy.

Another thing to consider is that most drivers who lease or finance their vehicle are required to carry comprehensive and collision coverage until their loan is repaid. Once the loan is paid off, you have the option to drop these coverages.

Car insurance discounts in Elgin

Most car insurance companies in Illinois offer discounts to help drivers save money on their premiums. Although the exact discounts vary by insurer, here are some of the most common ones that you can find in Elgin:

  • Multi-vehicle discount: If you insure more than one vehicle on your car insurance policy, you can probably get a discount.
  • Multi-policy discount: Drivers who insure their home and vehicle with the same insurance company can usually qualify for a bundle discount.
  • Claims-free discount: Drivers who have not filed a claim within the last few years can often get a discount on their policy.
  • Pay in full discount: Paying your auto premium upfront and in full, rather than in monthly installments, can sometimes help you get a cheaper rate.

If you are looking for an affordable rate, pay close attention to discounts when comparing car insurance companies. You should also keep an eye on the percentage savings that each company offers. For example, multi-policy discounts can often come with savings of up to 20%, whereas paying your premium in full usually has a much smaller discount.

Frequently asked questions

What is the best car insurance company?

The best car insurance company is different for every driver. It depends on personal factors, like what you value in an insurance company, how much you want to spend and what type of coverage you need.

How much does car insurance in Elgin cost?

On average, drivers in Elgin pay $1,448 per year for full coverage insurance and $498 per year for minimum coverage insurance. However, you might pay more or less than the citywide average rate based on your age, credit score, claim history and driving record.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Written by
Elizabeth Rivelli
Insurance Contributor
Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.
Edited by
Senior Insurance Editor