Illinois Car Insurance: What Every Driver Needs to Know Before Purchasing an Car Insurance Policy

With the propaganda regarding car insurance flying across the airwaves and through the internet to the ears of the consumer it can be very easy to become caught up in the business of saving money on your car insurance. The problem with that is that most of the time when car insurance is offered at a lower premium that usually means that something else is not being offered. This begs the question, “How much can you really afford to lose?”

Every state has its own minimum requirements when it comes to car insurance, and Iliinois is no exception. Their specific guidelines can be obtained through the Illinois Department of Financial and Professional Regulation Division of Insurance in Springfield at 217/782-4515 or Chicago at 312/814-2420. Consumers can also visit their website at http://www.idfpr.com/DOI/Default2.asp .

Every vehicle in the state is required to be covered under a liability policy; that means that if the vehicle is involved in an accident for which it is responsible the damages suffered by the body of both the victim and the victim’s vehicle will be paid for. IL requires that all drivers purchase an insurance policy for their vehicle which allows for twenty thousand dollars in covered medical expenses for a single individual and forty thousand dollars in combined medical expenses for all of the vehicle’s occupants. In addition, liability will pay for fifteen thousand dollars in property damages to the victim’s vehicle and the surrounding area.

IL is also one of the few states that require its motorists to possess uninsured or underinsured motorist insurance. Since not all states require that their drivers have liability insurance it is a cinch that at some point there will be drivers without insurance on Illinois roads. Uninsured and underinsured motorist coverage will provide for bodily injury and vehicle damages suffered by the insured in the event that the driver responsible for the accident did not possess liability coverage or whose coverage was not adequate to pay for the resultant expenses. This will also pay for damages suffered as a result of a hit and run.

While it is not required by the state it may be required by the lender that a car still possessing a lien obtain comprehensive and collision coverage. This way, in the event that the vehicle is damaged in an accident for which its driver is responsible it can be repaired. If the cost of the repair is greater than the blue book value of the car it will be declared as “totaled” and the cash value of the car awarded to the owner.

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