Who Has the Cheapest Insurance for a Toyota Corolla in Illinois?

Finding cheaper insurance for a Toyota Corolla in Illinois relies on many factors like how safe your vehicle is, where your vehicle is garaged, and your motor vehicle report. Drivers in Illinois pay on average $680 every 12 months to insure a Corolla, but that policy rate is a ballpark figure using a 40-year-old single male who needs full coverage including both comprehensive and collision and $1,000 policy deductibles.

But there is a good chance that you are not 40 and maybe not even a male, you might be married instead of single, or you just prefer to insure for liability only. Just a very minor change in the rating criteria used to formulate rates could end up in a significant change in policy price.

Each driver has unique rating factors, so your best shot at finding cheap insurance prices for your Toyota is to put in the effort and compare rates. It only takes a few minutes and you can get prices from some of the best insurers available.

Compare Toyota Corolla Insurance Rates

Vehicle trim level will influence the cost of insurance, so the price you pay to insure a Corolla LE model will be $16 less expensive the price to insure the more costly Corolla XRS model, as shown in the table below.

Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Premium amounts do not factor in specific location which can increase or decrease premiums considerably.

Deciphering which company quotes the best auto insurance rates for a Toyota Corolla calls for a little more work than just comparing rates from one or two companies. Every auto insurer used slightly different criteria for determining rates in each state, so we need to take a look at the auto insurance companies with the overall best prices in Illinois.

It’s important to know that Illinois auto insurance rates are calculated based on many things that may substantially change the price you have to pay. Improving your credit rating, moving to a different location, or getting a reckless driving citation may generate price changes that can now make some companies cheaper than competitors.

Best Insurance Companies for Your Corolla

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The Hartford has some of the most affordable car insurance rates in Illinois at around $746 per year. Rockford Mutual, Titan, Erie, and Cincinnati Insurance also are some of the lowest-priced Illinois insurance companies.

In this example, if you buy coverage from Titan and switched to The Hartford, you could see an annual savings of about $114. Insureds with Erie might save as much as $132 a year, and Cincinnati Insurance customers might reduce rates by $142 a year.

Understand that those premium estimates are averaged across all drivers and vehicles in Illinois and are not factoring in a specific rating modification for a Toyota Corolla. So the company that can offer you the best rate may not even be in the rate chart shown above. That point stresses why you need to get quotes using your own driver information and specific vehicle type.

How much more does full coverage cost in Illinois?

Finding the cheapest insurance for a Toyota Corolla in Illinois should be important to the majority of drivers, and one easy way to reduce the cost of insurance is to only buy liability coverage. The chart below visualizes the comparison of insurance premiums with liability coverage only compared to full coverage. The rate quotes are based on a clean driving record, no claims, $1,000 deductibles, single marital status, and no discounts are applied.

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Averaged for all ages 20 through 70, physical damage insurance costs an additional $1,392 per year over and above liability only. At some point, about every driver wonders when is it a good idea to stop buying full coverage. There is no clear-cut formula for phasing out physical damage coverage, but there is a general convention. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

There are a few situations where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage.

How careless driving impacts Illinois auto insurance rates

The easiest method to get cheap auto insurance rates in Illinois for a Corolla is to be a cautious driver and avoid accidents and violations. The chart below demonstrates how citations and accident claims can raise annual premium costs for each different age group. The costs are based on a married female driver, full coverage, $250 deductibles, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 1915,2131,2759],[‘Age 30’, 1339,1557,2185],[‘Age 40’, 1327,1545,2169],[‘Age 50’, 1163,1381,2007],[‘Age 60’, 1111,1327,1955],[‘Age 70’, 1197,1417,2043]]);var options = {title: ‘Effect of Violations and Accidents on Illinois Toyota Corolla Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Corolla in Illinois’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the example above, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,342. Get one speeding ticket and the average cost surges to $1,560, an increase of $218 each year. Next add one accident along with the one speeding ticket and the 12-month cost of auto insurance for a Toyota Corolla increases to an average of $2,186. That’s an increase of $844, or $70 per month, just for not paying attention while driving!

State Farm, Progressive, Allstate, and Geico: Who is cheapest?

When shopping for insurance for a Corolla in Illinois, four companies to take a look at are State Farm, Progressive, Allstate, and Geico. The following table breaks down price, claims, and customer service ratings, as well as some optional coverages you can buy with each company.