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How much is car insurance in Streamwood?
|Area||Average Monthly Car Insurance Premium|
You can see in the chart above that it's around $4 a month more expensive to insure your vehicle in Streamwood than it is in the rest of Illinois.
Compared to the rest of the country, auto insurance in Streamwood is more affordable. It's about $26 cheaper than the national average to insure your vehicle in Streamwood.
While these are the average costs to insure your vehicle in Streamwood, keep in mind that you could end up paying a different amount. There are a variety of factors that car insurance companies assess when determining how much to charge you to get your vehicle insured. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect your policy's monthly price.
Don't worry, we've done the work for you and broken down the average rates for Streamwood to help you understand what your monthly premium might be. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The longer you've been behind the wheel, the more experienced of a driver you are. When it comes to auto insurance premiums, that experience pays off. In this case, 18-24-year-olds pay two times as much as someone who is at retirement age.
You can expect to see your monthly premium drop about once a decade or so. Drivers in Streamwood may see their rates rise again once they hit retirement age.
Average Car Insurance Rates by Gender
Car insurance rates for female drivers are usually cheaper than those for male drivers. The difference in average rates in Streamwood totals about $19 per month. Based on the chart above, you can see that female drivers pay around $43 on average, while male drivers typically pay $62 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|1 Ticket||Not Enough Data|
Rates can change drastically depending on your driving record. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. Drivers in Streamwood with a single accident will pay around $50 a month.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$42|
|15 Years or Older||$53|
According to the first table above, the cheapest vehicles to insure in Streamwood are typically SUVs, at $39 per month.
Car owners, on the other hand, by and large pay around $60 a month, while truck and van drivers can expect to pay about $41 per month for auto insurance coverage.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, newer vehicles are going to cost the most to insure. However, once your car is close to 5 years old, you may start to see your monthly premium drop back down. In Streamwood, vehicles eleven-to-fourteen years old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$58|
On average, people who are married will pay slightly less for car insurance coverage. This usually happens because companies will award special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Streamwood can be as much as $15 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$95|
Your housing status is another factor that affects your monthly rate. If you rent your home or apartment, expect to pay around $2 a month more than homeowners in Streamwood. But those who live at home with their parents can expect to pay significantly more.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Streamwood, IL
Recent trends in car insurance for Streamwood drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before deciding on where to shop.
Auto insurance rates in Streamwood have been mixed as of late, they dropped in 2016, rose in 2018, and fell again in 2020, before finishing at $45 in 2021.
How does Streamwood compare to neighboring areas?
Why are car insurance rates in Streamwood different from other areas?
There are a lot of factors car insurance companies take into consideration when deciding how much to charge for a monthly rate. While we've discussed the ones that affect your personal policy, others are based around where you live. These include things like:
- Crime rates
- Off-street parking accessibility
- Local regulations
- Road Safety (total number of local car accidents)
- Number of drivers
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Get started with a guide like this to get familiar with the average rates of your area.
How can I find the cheapest car insurance in Streamwood?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Good news! Compare.com will handle the heavy lifting for you. Just put in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies providing policies in Streamwood.
Streamwood Insurance FAQs
What factors affect car insurance quotes in Streamwood?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your gender and age, but also factors like your marital status, credit score, address, and driving record.
Why is the cost of car insurance in Streamwood different from other neighboring cities?
Things like crime rates, parking situations, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Streamwood?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Streamwood?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Streamwood or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?