Illinois Car Insurance: Useful
Information for Drivers Before Buying
Car Insurance
Every state has its own particular guidelines regarding car insurance.
The specific insurance requirements for Illinois can be obtained from
the Illinois Department of Financial and Professional Regulation
Division of Insurance in Springfield 217 782-4515 or Chicago 312
814-2420. Consumers can also obtain information by visiting IL Dept. of
Insurance website at http://insurance.illinois.gov.
The specific insurance requirements for Illinois can be obtained from
the Illinois Department of Financial and Professional Regulation
Division of Insurance in Springfield 217 782-4515 or Chicago 312
814-2420. Consumers can also obtain information by visiting IL Dept. of
Insurance website at http://insurance.illinois.gov.
The average car insurance premium rate in Illinois is around $1,204.
Illinois follows a tort system. This type of liability policy means that
someone must be held responsible for the accident and that person and
his insurance company must pay for all the damages to the victim and his
vehicle. The specifications of a tort system vary from state to state.
Illinois follows a tort system. This type of liability policy means that
someone must be held responsible for the accident and that person and
his insurance company must pay for all the damages to the victim and his
vehicle. The specifications of a tort system vary from state to state.
Illinois requires its drivers to possess uninsured or underinsured
insurance because not all states require their motorists to have
liability insurance. It is obvious that at some point there will be
uninsured drivers on Illinois roads. Uninsured and underinsured motorist
coverage provides bodily injury and vehicle damages suffered by the
insured in case the driver responsible for the accident does not possess
liability coverage or if his coverage is not enough to pay for the
compensation. It also pays for damages suffered as a result of a hit and
run.
insurance because not all states require their motorists to have
liability insurance. It is obvious that at some point there will be
uninsured drivers on Illinois roads. Uninsured and underinsured motorist
coverage provides bodily injury and vehicle damages suffered by the
insured in case the driver responsible for the accident does not possess
liability coverage or if his coverage is not enough to pay for the
compensation. It also pays for damages suffered as a result of a hit and
run.
The state law requires minimum motorist coverage of $20,000 per person
and up to $40,000 per accident to protect you against damages caused by
an uninsured or underinsured driver. This is only for injuries. The
property damage liability coverage should be a minimum of $15,000.
and up to $40,000 per accident to protect you against damages caused by
an uninsured or underinsured driver. This is only for injuries. The
property damage liability coverage should be a minimum of $15,000.
This coverage is referred to as 20/40/15 coverage with 20/40 UM limits.
Illinois law requires you to provide Proof of Financial Responsibility
on random selection of your vehicle. If you fail to return the
questionnaire or found not to have insurance, your license could be
suspended.
on random selection of your vehicle. If you fail to return the
questionnaire or found not to have insurance, your license could be
suspended.
If you have been found guilty of traffic violations then it is better to
keep an SR-22 form issued by your insurance company as a proof of
future financial responsibility.
keep an SR-22 form issued by your insurance company as a proof of
future financial responsibility.
Though not mandated by the state, a car lender may require that a car
still possessing a lien obtain comprehensive and collision coverage.
This way, if the vehicle is damaged in an accident and its driver is
responsible, then it can be repaired. If the cost of the repair is
greater than the value of the car, it will be declared as “totaled” and
the cash value of the car will be compensated to the owner.
still possessing a lien obtain comprehensive and collision coverage.
This way, if the vehicle is damaged in an accident and its driver is
responsible, then it can be repaired. If the cost of the repair is
greater than the value of the car, it will be declared as “totaled” and
the cash value of the car will be compensated to the owner.
Insurance rates change every few years. Even in the state of Illinois,
the rates have not remained constant. The current average car insurance
rate of 2009 is 8% higher than that of 2008.
the rates have not remained constant. The current average car insurance
rate of 2009 is 8% higher than that of 2008.
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