Magnum Car Insurance Review (2023)
Magnum Insurance offers car insurance for drivers in Illinois and Indiana. The company provides the standard coverages and additional options. Magnum Insurance also offers a variety of discounts that allow policyholders to lower their rates further. Learning more about Magnum Insurance will help you determine if it's the right choice for you.
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Chris Harrigan
Former Auto Insurance Claims Manager
Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.
Former Auto Insurance Claims Manager
UPDATED: Jun 29, 2022
It’s all about you. We want to help you make the right car insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 29, 2022
It’s all about you. We want to help you make the right car insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Magnum Insurance provides a variety of coverages
- Magnum Insurance is available in Illinois and Indiana
- Magnum Insurance has been rated an A+ by the Better Business Bureau
Magnum Insurance offers car insurance quotes to customers in Illinois and Indiana. The company provides a variety of coverages that cover drivers in the United States and Mexico. Additionally, the company has been rated an A+ by the Better Business Bureau.
Let’s take a closer examination of Magnum Insurance.
What is the Magnum Insurance rates?
According to the Insurance Information Institute, multiple personal factors impact car insurance rates. The value of each aspect differs by company, and they attempt to keep how they weigh those factors a secret.
One of the primary factors in determining rates is age. Younger drivers are riskier to insure as they have less experience and are more susceptible to distractions. Therefore, looking at the average rates by age will help you estimate what you can expect to pay.
The following chart shows the average annual Magnum Insurance rates for drivers in Illinois and Indiana by age.
| Age | Average Annual Car Insurance Rates in Illinois | Average Annual Car Insurance Rates in Indiana |
|---|---|---|
| 18 | $4,837 | $3,919 |
| 20 | $3,634 | $2,949 |
| 25 | $1,909 | $1,681 |
| 30 | $1,676 | $1,465 |
| 40 | $1,485 | $1,254 |
| 50 | $1,392 | $1,224 |
| 60 | $1,339 | $1,189 |
| 70 | $1,470 | $1,309 |
As you can see, rates are lower for drivers in Indiana than in Illinois. Additionally, rates decrease as drivers become older and likely more experienced.
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What coverages are offered by Magnum Insurance?
Car insurance companies sell coverages individually, allowing customers to pick which ones they want. Choosing more coverages will increase your rates, but they also offer more protection.
The cost of insurance is a common concern for customers, but the coverages provided are just as essential. The cheapest coverage might not offer protection if you get into an accident. The following table shows the standard coverages provided by Magnum Insurance.
| Car Insurance Types | Coverage Description |
|---|---|
| Bodily injury liability | Pays for medical bills for an injured person in an accident you cause. |
| Collision | Covers damage to your car in an accident. |
| Comprehensive | Covers damage to your car if someone else is driving. |
| Medical payments | Covers all medical costs caused by an accident. |
| Personal injury protection | Covers medical expenses for you and your passengers after an accident. |
| Property damage liability | Covers the cost of any property damage you’ve caused in an accident. |
In addition to these standard coverages, Magnum Insurance provides options that aren’t as common with insurance companies. The following are additional coverages offered by Magnum Insurance.
- GAP insurance. Covers the amount owed on the vehicle if it’s totaled.
- Classic car insurance. Specialized car insurance for vintage or classic cars.
- Rental reimbursement. Reimburses for a rental car if the covered vehicle is damaged.
- SR-22 insurance. Proves a driver has minimum coverage as required by law.
- Motorcycle insurance. Provides coverage for a motorcycle in Illinois or Indiana.
- Mexico auto insurance. Provides required car insurance when driving in Mexico.
Magnum Insurance also offers roadside assistance to customers. The company’s partnership with the Motor Club provides customers with Magnum Insurance 24-hour roadside assistance. Customers that purchase this coverage can receive support that includes:
- Battery service
- Flat tire repair
- Gas delivery
- Locksmith service
Each of these coverages is available for a specific fee. As a result, adding any of the options will increase your rates.
Does Magnum Insurance offer discounts?
Car insurance can get expensive for high-risk drivers. Most insurance companies understand this and provide discounts so customers can lower their rates. Combining multiple saving opportunities allows customers to obtain the best possible rates.
Magnum Insurance doesn’t display a list of discounts on its website. However, the company likely provides some of the most popular deals. The following table shows some of the most common ways to save on car insurance.
| Auto Discount | Discount Description |
|---|---|
| Anti-theft | Cars include anti-theft devices, like alarms, tracking systems, and kill switches. |
| Good student | High school or college students with at least a 3.0-grade point average. |
| Multi-car policy | Insure more than one car on a single auto insurance policy. |
| Pay in full | Policy is paid in one payment. |
| Safe driver | Display safe driving habits, like having passengers wear seat belts, low driving speeds, and less aggressive driving. |
While Magnum Insurance doesn’t list discounts, it does talk about the home and auto bundle. Magnum Insurance provides several types of insurance, including home and auto coverage. The company offers a 20% discount for customers that buy a Magnum home and auto policy.
Does Magnum Insurance have good reviews?
Credit rating agencies review insurance companies and provide information on their financial strength. Additionally, the National Association of Insurance Commissioners (NAIC) reviews complaints made about insurance companies.
The above organizations often overlook small companies and have not reviewed Magnum Insurance. Also, the company is independent, so there isn’t a parent company to review.
While most have ignored Mangum Insurance, the Better Business Bureau (BBB) has reviewed the company. At the time of this review, the BBB has rated Magnum Insurance an A+ for its business practices, indicating that it is trustworthy when dealing with customers.
The BBB hasn’t received any complaints about Magnum Insurance but has received one review. That review issued a rating of one out of five stars.
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How can you file Magnum Insurance claims?
Magnum Insurance allows customers to file claims online or by phone. Customers can use their Magnum Insurance login to access the customer portal on the website to file claims. The company requires that customers fill out a form, and an agent will contact you the next business day.
Customers can also file claims by calling the Magnum Insurance phone number at 1-888-539-2102. This number reaches Magnum Insurance customer service, and a representative will guide you through the claims process.
How can you make Magnum Insurance payments?
Most insurance companies provide multiple ways that customers can make payments. According to the company website, customers can make Magnum Insurance payments:
- Online
- Phone
- At a local office
Customers can make online payments through the payment page on the company website. The page asks for your phone number and will send you a verification code to open your account. At that point, you can log in to pay your bill.
Those that prefer to pay by phone can do so by calling the Magnum Insurance customer service phone number at 1-888-539-2102. Representatives are on hand to take your information, allowing you to pay by credit card or debit card.
The third payment option is by paying at a local store. Magnum Insurance has several locations where customers can visit a local agent. However, all sites are in northwest Illinois, and most are in the Chicagoland area.
What is Magnum Insurance?
The Magnum Insurance Agency began in 1981 in Chicago, Illinois. The company has remained independent and employs agents throughout Illinois and Indiana. Over time, Magnum has expanded to provide home, business, and health insurance.
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Magnum Insurance: The Bottom Line
Magnum Insurance serves Illinois and Indiana, providing car insurance to drivers in those two states. The company offers several auto coverages and other types of insurance. Knowing more about the company will help you decide if Magnum Insurance is right for you.
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Chris Harrigan
Former Auto Insurance Claims Manager
Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.
Former Auto Insurance Claims Manager
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.