Anamarie Waite, Car Insurance Writer
Drivers in Illinois can find cheap car insurance with “no deposit” or “no down payment,” but all that really means is you only have to pay the first month’s premium to get coverage. You cannot get car insurance in Illinois without paying something upfront. But you can minimize the cost of coverage in Illinois, which ranks 25 for the cheapest car insurance rates in the country. The average monthly premium in Illinois is about $150 per month for full coverage and around $49 per month for state minimum coverage. Drivers in Illinois should expect to pay about that much in advance each month to keep their car insurance policy active.
The biggest drawback of paying for auto insurance monthly is that it’s almost always more expensive than paying in full for six or 12 months of coverage upfront. Some Illinois insurance companies charge slightly more for month-to-month premiums, and there can also be payment processing fees. Most car insurance companies also discount rates for customers who pay in advance.
You can still find cheap car insurance options if you can’t afford a big deposit, though. The best no-down-payment car insurance keeps rates low and only requires the first month’s payment to start your policy.
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