Car Insurance Premiums Could Rise As A Result Of Legalized Marijuana In Illinois

Vehicle insurance claims in the Land of Lincoln could rise as the result of legalizing marijuana if Illinois follows a trend experienced in other states that allow the sale of recreational pot.

Gov. J.B. Pritzker is expected to sign legislation allowing pot to be sold in the state starting Jan. 1, something transportation experts warn could cause safety concerns on the road.

Alyssa Connolly, director of market insights for the online insurance comparison site The Zebra, said one of the factors insurance companies study when setting insurance premiums on vehicles is related to the number of claims reported in a community. Claims can include traffic accidents or thefts.

When claims are really up, companies often implement rate increases, Connolly said.