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Submitted by: Felicia Glassmyre
In the state of Illinois, the minimum limits for automobile liability insurance is $20,000 per person/$40,000 per accident for Bodily Injury and $15,000 for property damage. Understanding that this is a minimum requirement, it might be in your best interest to purchase more than is required. With the rise in today s medical costs and the cost of a potential hospital stay, in the event of an accident, the liability limits of your policy can be quickly exhausted.
As odd as it may sound, you might save more on your automobile insurance if you actually raised your policy liability limits. It s for your own protection. Just because the policy limits have been exhausted does not absolve your responsibility in the event of an accident. It might behoove you to get quotes for higher limits of liability. You might find that the additional cost of premium is minimal in comparison with the peace of mind additional limits may afford.
Although Illinois residents do not have to provide evidence of insurance when registering a vehicle, it would behoove all residents to make sure coverage is in effect. Coverage is mandatory for not only private passenger vehicles; it is required for vans, RV s, motorcycles, buses and trucks. Coverage is not required for trailers.
Illinois residents are subject to random insurance questionnaires. As a result, you may be randomly selected to complete a questionnaire that requires you to show proof of insurance. If you are stopped and found to be uninsured while driving you will be given a citation. You will have to prove to the court that you did have insurance at the time you were stopped. If not, you ll be subject to a $500 fine and a $100 fee to reinstate your registration.
To get the best possible rate for your auto policy, you should shop around. Get quotes from at least three different insurers and compare.
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