08/04/2026
Illinois residents should be prepared: new insurance laws signed this week could mean higher home and auto insurance costs, and fewer coverage options.
Illinois already leads the nation in tornadoes, with a new record set this year. Add in inflation and rising repair costs, and insurers are under real pressure. These laws don't fix that. They push Illinois toward a rigid, California-style rate system — making it harder for insurers to respond to real conditions.
Illinois has the 6th-lowest auto insurance rates in the country. That's due to competition and flexibility. These laws put that at risk.
Read our joint statement with American Property Casualty Insurance Association and Illinois Insurance Association:
The Illinois Insurance Association (IIA), the American Property Casualty Insurance Association (APCIA), and the National Association of Mutual Insurance Companies (NAMIC) today issued the following joint statement after Governor JB Pritzker signed Senate Bill 714 and House Bill 4273 into law. "Illin...