You must buy Illinois state minimum auto insurance to drive legally in the area. If you don’t have the required minimums, you could get a traffic citation. Here are some things to know about buying minimum insurance requirements in Illinois.
Minimum Insurance Requirements
Insurance policies typically cover liability and property damage for drivers who are found at fault. If you are found at fault for an accident, it helps protect your assets and cover legal defense in lawsuits. However, it only pays for damages to the other driver’s vehicle, and not the at-fault driver’s expenses from the accident.
The amounts are commonly written as a series of three numbers, which represent bodily injury, per accident limit, and property damage. In Illinois, the requirements are 25/50/20, or $25,000 for bodily injury, $50,000 per accident, and $20,000 for property damage. Illinois also requires drivers to purchase a minimum of $50,000 uninsured motorist protection, which covers damages caused by uninsured motorists.
Adding Extra Coverage
If the damages exceed beyond the policy limits, you still could get sued for the rest. For example, if you injured two people and the medical bills are $80,000, you are still responsible for $20,000.
Many financial experts recommend buying a policy more than the value of your assets or buying an umbrella policy. An umbrella policy covers in excess of a standard policy, which is commonly up to $5 million. To have your vehicle repaired after an accident if it is your fault, you need to have comprehensive or collision insurance.
It is better to buy beyond the Illinois state minimum auto insurance for peace of mind. Answer a few questions and get a free quote today.
Contact Accurate Auto Insurance today.