DeLaRosa Passes Homeowner, Auto Insurance Cost Relief Bill

SPRINGFIELD, Ill. — State Rep. Margaret DeLaRosa, D-Lombard, is taking action to lower home and auto insurance costs by passing a new bill that ensures Illinois customers are not paying to pad the profits of big corporations or cover corporate losses in high-risk states like Florida or Texas.

“Insuring our homes and cars is meant to protect us as consumers, but instead, we’re seeing everyday ratepayers with good credit scores and little to no accident history paying outrageous amounts,” said DeLaRosa. “States across the nation, from California to Connecticut, are implementing similar legislation, with the intention of protecting ratepayers from undisclosed junk fees that only benefit the corporate side.”

Homeowners across Illinois have seen insurance plans rise by nearly 30% in the last year, raising concerns that Illinois residents are footing the bill for other states at high risk of natural disasters. In an effort to reduce costs for Illinois customers, DeLaRosa passed Senate Bill 1486, which takes several steps to rein in rising insurance costs by:

• Empowering the Illinois Department of Insurance to reject unfair rate increases by subjecting all Illinois homeowners insurance, fire insurance, and auto insurance policies to a comprehensive rate review process.
• Requiring insurance companies give customers 60 days’ notice before double-digit rate increases, giving customers more time to make informed decisions.
• Shrinking auto insurance premiums for drivers over the age of 55 who complete a 4-hour defensive driving program or e-learning course.

“Homes and cars are not small purchases. Many pay off these purchases for years, in addition to insurance bills. Ratepayers should never be paying more than is absolutely necessary; that’s the intention of this bill,” said DeLaRosa.

Senate Bill 1486 passed the House yesterday, and will head back to the Senate chamber for consideration. If signed into law, changes will go into effect July 1, 2027.