There are a number of reasons why you should purchase auto insurance. Aside from the fact that most states require this, the premium that you pay serves as your investment and not just part of your monthly bills.
The state of Illinois mandates its residents to carry liability insurance. If the driver is involved in an accident and is responsible for the damages, he/she will pay the medical expenses and damages in property using his/her auto insurance coverage.
- $20,000 Bodily Injury Liability limits of per injured person up to a total of
- $40,000 per accident, and
- $15,000 minimum limit of Property Damage Liability coverage
There are only few states that require uninsured/underinsured motorist insurance and auto insurance in Illinois is one of these. This coverage pays cost of damages and medical expense suffered from the traffic accident in the event that the at-fault driver does not have liability policy or has insufficient auto insurance coverage to pay the expenses. If the driver is a victim of hit and run, this coverage will also pay for the damages.
$20,000/$40,000 Uninsured Motorist Bodily Injury Limit
While collision and comprehensive coverage is not required by the state of Illinois, you may still want to consider purchasing this policy. This policy offers payments to cost of vehicle repair to your car. You can check with your auto insurance company for more information.
There are ways to finding affordable auto insurance. One of these is to shop for different auto insurance rates because each auto insurance company offers different rates. Good driving record can give you opportunity to get discounts from auto insurance companies.
Auto insurance companies can use credit history to evaluate the risk of the driver. Thus, maintain a good credit record. Get credit cards if you don’t have one. Otherwise, auto insurance companies will automatically consider you as high-risk.