Jones Sends Bill Making Auto Insurance More Affordable to the Governor’s Desk

SPRINGFIELD, Ill. – State Rep. Thaddeus Jones, D-Calumet City, is taking steps to lower auto insurance costs with a new measure that will ensure Illinois drivers are not exploited by large insurance corporations imposing unfair rate hikes while continuing to rake in record profits.

“It is not right that our residents have to face an affordability crisis and make difficult decisions while companies spend little to no time thinking about how rate increases may impact them,” said Jones. “This bill is about two things—making insurance more affordable for everyday Illinoisans and reining in corporate greed.”

Jones’ Senate Bill 714 would lower the cost of auto insurance by increasing transparency around rate hikes, introducing a program to discount premiums for adults age 55 and older who complete a defensive driving course and prohibiting companies from raising costs by more than 10% without providing at least 30 days’ notice. Additionally, the measure would bring Illinois in line with the majority of states by empowering the Department of Insurance to reject excessive rate increases.

“As chairman of the House Insurance Committee, I am proud of this bill,” said Jones. “The measure we passed today is the product of extensive negotiations between me, my colleagues, the insurance industry, the Secretary of State and, most importantly, our state’s motorists who will save money from its provisions.” 

Senate Bill 714 passed both chambers of the Illinois General Assembly and now heads to the governor’s desk to become law.