What is the Average Cost of Car Insurance in Peoria?

Peoria is located north of Phoenix. A large part of the city is in Maricopa County, while the rest is over the county line in Yavapai County. If you need to go from Peoria to Phoenix, it’s about a 30-minute drive.

The city was named for another city called Peoria in Illinois when a former officer of the Union Army brought four families from Illinois back to Arizona to start the community. And Peoria’s population as of 2019 was nearly 176,000. The average commute time for workers 16 years and up was 28.4 minutes at that time, just over the national average of around 27 minutes.

While Peoria isn’t listed for auto theft on the National Insurance Crime Bureau (NICB), as close as it is to Phoenix, it acts as a suburb of the much larger city. Thus, the Phoenix statistics on vehicle thefts may reflect poorly on Peoria. In 2018, there were 13,469 auto thefts; this put the rate at 277.26 per 100,000 residents and the city of Phoenix was ranked #98 among cities with the highest rates of theft in the country.

The most expensive ZIP codes in Arizona for auto insurance all fall within Phoenix. Those annual rates go from $732 up to $756. The least expensive ZIP codes in Arizona are in Lake Havasu City, Pirtleville, Elfrida and McNeal. Annual premiums there range from $372 up to $360. Being outside of this city means your costs may be somewhat lower, but being as close as you are, they may still be higher than the rest of the state.

How Much Auto Insurance Coverage is Needed for Peoria Drivers?

When you are looking at annual premiums for car insurance, you may be tempted to stop with the state minimum requirement. However, while this would mean that your car is insured according to state law, it doesn’t mean it would be fully protected. That old adage, “You get what you pay for” is especially true here. If you pay the lowest possible amount for your premium, you won’t end up with much coverage should you be involved in an accident. And, if you are the at-fault driver, you will be out a lot of cash when you don’t have liability coverage to pay for property damages or injuries to the driver or passengers of the other car.

However, you do always have the option to obtain minimum coverage and add collision or comprehensive coverage to give you that extra protection. The minimums required by state law in Arizona include bodily injury liability in the amount of $25,000 for a single injury in an accident and a minimum of $50,000 per accident in case of multiple injuries and $15,000 of coverage for property damage.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Peoria by Insurer

It’s natural that you don’t want to pay more for something than is necessary. However, it’s important not to make the mistake of thinking you can skate by on the state’s minimum rate. Instead, look at what your costs are likely to be in an accident and find coverage that provides enough protection to keep you out of financial trouble if you are found to be at fault in an accident.

Compare cheap auto coverage quotes by state.

Low Cost Auto Insurance for Bad Credit in Peoria

For drivers with bad credit histories, it may be even more difficult to find decently priced car insurance coverage. This is because, in Arizona insurance companies are allowed to check the credit histories of potential customers and use them in their risk assessments to help them decide how much their premium should be. This makes it even more important that you request multiple quotes and find coverage that fits your needs and your wallet.

Learn how bad credit can affect your car insurance rates.

Difference Between Liability and Full Coverage

What is Liability Only Insurance Coverage?

Liability insurance covers the possible cost of damage you cause to others while driving. This could mean the cost of medical care for those injured in an accident or repair costs of the damage you have caused to other vehicles.

With liability insurance, there are 3 key numbers: injury coverage per person, coverage for total injury per accident, and property damage coverage per accident. Each state has different requirements for car insurance minimums. In a policy that has coverage for 15/30/25 means $15,000 per injured person, with a maximum of $30,000 for all the people who are injured in an accident, and $25,000 in coverage for property damage.

Why You May Want Full Coverage Car Insurance

While liability insurance covers other people and vehicles in an accident where you were the one considered at fault, full coverage insurance can also cover you and your vehicle as well. Full coverage includes two different types of coverage combined into one insurance plan; comprehensive insurance and collision.

Comprehensive coverage is for the damage of other vehicles that are outside of driving situations such as weather damage, fire, or theft.

Collision coverage is basically to pay for damage that you caused while driving such as an accident with another vehicle, hitting an object, or driving off the road.

The difference between collision and comprehensive is, if a tree were to fall on your car and damage it, comprehensive insurance would cover it, however, if you were driving and hit a tree causing damage to your car, then it would be covered by collision.

Key Differences Between Full Coverage and Liability Only

Liability and Full coverage policies have many distinctions but the chief one is that under a liability policy your car is not covered. If you are in an accident and are found at-fault, your liability policy will cover the other driver and her passengers. A full coverage policy, on the other hand, covers damage done to your car as a result of a wide range of accidents, even if you are at-fault. These policies also differ when it comes to premium payments.

Average Annual Car Insurance Rates in Arizona by City

Additional cities in Arizona you can check out.

Ways to Lower Your Auto Insurance Rates

There are many ways that you can save on auto insurance in Peoria:

  • A good driving record

    Being a safe driver is the best way to keep your auto insurance cost down; the fewer accidents you have the less you will pay.

  • Shop around for quotes

    Insurance rates can vary substantially from company to company, which is why you will need to shop around and get quotes from each company. Most companies will give you a fast, free quote online.

  • Raise your deductible

    If you are considering getting a full-coverage plan, you can ask for a higher deductible to lower your monthly cost. The higher the deductible the lower your price will be.

  • Save on bundling

    You can save some money on auto insurance by bundling. Getting both auto insurance protections along with something like homeowners’ insurance in one plan will cost less than if you were to get separate plans.

  • Establish a good credit report

    Insurance companies base your cost on many factors, including what’s in your credit report, so, the better your credit report is, the lower your auto insurance costs will be.

  • Reduce the miles you drive daily

    Reducing how many miles you drive daily can also help cut auto insurance costs. You might consider car-pooling, taking a bus, or getting places the old-fashioned way – walk.

Use this guide to find discounts here.

Reasons that Affect Your Automobile Insurance Rates in Peoria, AZ

Your car insurance rates can change over time. One of the most reliable factors that will impact your premiums is your age. The older you are, the lower your insurance premiums should be. You may also find your rates vary depending on the car you drive. Sports cars or jeeps may incur higher premiums, while SUVs and sedans are cheaper to insure.

Rates are also impacted by your gender and age, though young women will have lower rates than their same-aged male friends. Actuarial tables show that young drivers are more prone to speeding, alcohol infractions, and accidents than older people, as are young males rather than females.

You can also reduce your regular premium payments by opting for a higher deductible on your collision and comprehensive coverage packages. You can also opt to pay your premium in a larger, single payment every six months rather than spreading the premium out over monthly payments.

If you have a bad driving record and need cheap insurance, compare rates here.

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