Schaumburg Car Insurance

Your Complete Guide to Schaumburg, IL Car Insurance

Find the right car insurance policy for you.

Mechanic at work in his garage

Schaumburg, Illinois is 28 miles northwest of the Chicago Loop and 10 miles northwest of O’Hare International Airport. These are two of the busiest traffic areas in the United States, and the traffic troubles spill over into suburban areas like Schaumburg every single day. And with the nation’s 11th largest shopping mall—Woodfield Mall—calling Schaumburg home, there is never a shortage of visitors and local traffic on the Interstates and surface roads. 

Car crashes happen all the time in Schaumburg. When vehicle damage and injuries are involved, the financial burden of a car accident can be immense, especially for the at-fault driver. Car insurance can help you recover financially and get back out on the road with confidence. Independent insurance agents make shopping for the right car insurance policy easy. Independent agents can work with multiple insurance companies, so you can compare quotes and make sure you are getting the high-quality, best-value coverage you desire. 

How Much Does Car Insurance Cost in Schaumburg, IL?

Illinois has the 39th highest average car insurance rates in the US. And the rates in Schaumburg are lower than both the state and national averages. 

  • National average annual car insurance cost: $1,311
  • Illinois average annual car insurance cost: $1,079
  • Schaumburg average annual car insurance cost: $756

Remember, everyone’s car insurance rates are a little different, so your cost may be higher or lower than other Schaumburg residents. Your car insurance rates are based on things like the type of car you drive, where you live, and how far you drive to work or school every day. If you are paying more than most, you might have a newer car or put more miles on your car every year. Some insurance companies even look at your credit rating to determine how likely you are to get into an accident or file a claim. 

Fortunately, insurance companies typically offer numerous discounts to help you keep costs down. Bundling your home insurance or renters insurance with your auto insurance is one way to earn a discount from most insurance companies. Contact an independent insurance agent to obtain and compare customized quotes from multiple, highly rated insurance companies. 

What Are the Car Insurance Requirements in Illinois?

All vehicle owners in Illinois are required to have a minimum amount of auto insurance that includes the following types of coverage:

  • Liability insurance, which covers bodily injury and property damage to third parties for accidents that you cause and are determined to be at fault for.
    • Bodily injury (BI) liability coverage of at least $25,000 per person/$50,000 per accident
    • Property damage (PD) liability coverage of at least $20,000 per accident
  • Uninsured motorist coverage (UM), which pays for your own medical expenses that the other driver would have been liable for if they had car insurance 
    • At least $25,000 per person/$50,000 per accident
  • Underinsured motorist coverage (UIM), which pays for your expenses when the at-fault driver has car insurance but it is insufficient to cover your expenses. This coverage is optional in Illinois. But it becomes mandatory when you choose to purchase UM coverage limits that are higher than the state minimum (25/50).

In most cases, it’s important to buy more than the minimum liability insurance required by the state. The minimum coverage may be sufficient to cover damage from minor accidents. But if you cause a serious accident, the minimum coverage probably won’t be enough and you could be left with extensive bills to pay. 

What Else Can a Schaumburg Car Insurance Policy Cover?

Insurance companies also offer several types of optional coverage in addition to what is required by the state. You can choose the options that best fit your needs.

  • Collision coverage: Covers damage to your vehicle sustained in a collision, regardless of who was at fault. Lenders typically require this coverage if you are still paying for your car, and dealerships are likely to require it if you are leasing your car.
  • Comprehensive coverage: Covers the cost to repair vehicle damage caused by non-collision events such as floods, fires, falling objects (e.g., trees), and property crimes (theft, vandalism). Lenders typically require this coverage if you are still paying for your car, and dealerships will probably require it if you are leasing your car.
  • Medical payments, or personal injury protection (PIP): Pays for your own medical expenses following an accident, even if you are at fault. 
  • Towing and roadside assistance: Covers the cost of a service call if your vehicle becomes disabled while it is out on the road. 
  • Rental car reimbursement coverage: Pays for the cost of renting a vehicle while repairs are being made to your car following a covered event.

A local independent insurance agent can help you learn more about these coverage options.

Why Get Coverage Against Uninsured Motorists in Schaumburg?

Illinois has a high percentage of uninsured drivers, despite the fact that auto insurance is required by law for every driver. Uninsured motorist coverage is important for Illinois vehicle owners because it protects responsible drivers from those who fail to purchase insurance.

  • How many US drivers are uninsured? 12.6%
  • How many Illinois drivers are uninsured? 13.7%

If you are in an accident that is caused by an uninsured driver, it may be difficult or impossible to collect what the other driver owes you for repairs and medical bills. Uninsured motorist insurance was created to ensure that you can receive compensation in these cases. It is required coverage in Illinois.

Can Car Insurance Cover Vehicle Thefts in Schaumburg?

The auto theft rate in Schaumburg is lower than the national average. Auto theft is not a huge problem in Schaumburg, but that doesn’t mean you shouldn’t take precautions and have the right insurance coverage. 

  • National auto theft rate per 1,000 vehicles: 2.94
  • Illinois auto theft rate per 1,000 vehicles: 1.56
  • Schaumburg auto theft rate per 1,000 vehicles: 1.01

If your car is stolen or vandalized, you need comprehensive coverage to reimburse you for your lost or damaged car. Comprehensive coverage also helps you pay if falling objects, floods, structure fires, or other hazards cause damage to your car. A local independent insurance agent can help you review the cost to include this coverage in your policy.

Why Contact an Independent Insurance Agent in Schaumburg?

Ask an independent insurance agent for help finding the best auto insurance in Schaumburg. Independent agents can obtain quotes from multiple insurance companies, so you can choose a policy that best meets your coverage and budgetary needs. 

Contact an agent near you to start comparing customized car insurance quotes. 

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