Auto Insurance IL: Everything You Need to Know

Having auto insurance in IL is not only essential but also a requirement by law. It protects you and your car from unexpected events, such as accidents, theft, or damages caused by natural disasters. If you own a car in Illinois but don’t have auto insurance, you can face a penalty or lose your driving privileges. In this article, we will discuss everything you need to know about auto insurance in IL, including the different types of coverage, costs, and requirements.

Types of Auto Insurance Coverage in IL

Auto insurance coverage consists of several types that provide different levels of protection. Liability insurance is the only coverage required by law in IL; however, it is always a good idea to invest in additional coverage to protect yourself and your vehicle.

Liability Insurance

Liability insurance covers damages that you may cause to other people’s property or injuries to other people while driving your car. It includes two parts:

1. Bodily Injury Liability: It covers the medical expenses, lost wages, and other damages that you may cause to other people in an accident.
2. Property Damage Liability: It covers the damages that you may cause to other people’s property, including their car or home.

The minimum liability insurance requirements in Illinois are:

However, it is recommended to have higher coverage limits, especially if you own a valuable car or have assets that you want to protect.

Collision Coverage

Collision coverage pays for the damages to your car caused by collisions with other vehicles or objects. It is optional coverage in Illinois; however, if you have a car loan, your lender may require you to have collision coverage. Typically, collision coverage comes with a deductible, which is the amount you have to pay out of pocket before your insurance kicks in. The higher the deductible, the lower your premium.

Comprehensive Coverage

Comprehensive coverage pays for the damages to your car caused by non-collision events, such as theft, vandalism, fire, or natural disasters. Like collision coverage, it is optional and usually comes with a deductible.

Uninsured/Underinsured Motorist Coverage

Uninsured/underinsured motorist coverage protects you if you get into an accident with a driver who has no insurance or insufficient coverage to pay for your damages. It also covers hit-and-run accidents. It is not required by law, but it is recommended, especially because a high number of drivers in IL carry only the minimum liability insurance required by law.

How Much Does Auto Insurance Cost in IL?

The cost of auto insurance in IL varies depending on several factors, such as:

• Your age, gender, and marital status
• Your driving history and record
• The type of car you drive, its make, and model
• Your location and where you park your car
• The coverage limits and deductibles you choose

On average, the annual cost of auto insurance in IL is $814 for minimum coverage and $2,338 for full coverage. However, these are just averages, and your cost may be higher or lower depending on your individual circumstances.

Auto Insurance Requirements in IL

IL law requires all drivers to have liability insurance with the minimum coverage limits discussed above. If you are caught driving without insurance, you may be fined up to $1,000, and your license and registration may be suspended.

Additionally, all insurers in IL are required to offer uninsured/underinsured motorist coverage, which you can decline in writing. If you choose this option, you must also sign a form that acknowledges the costs and benefits of this coverage.

FAQ

What should I do if I get into an accident?

If you get into an accident, first, make sure everyone involved is safe and call 911 if necessary. Exchange insurance information with the other parties and take pictures of the damages and the accident scene. Then, contact your insurance company and report the accident as soon as possible.

Can my insurance company cancel my policy?

Yes, your insurance company can cancel your policy if you fail to pay your premiums, provide false information, or commit fraud. They must give you a notice before canceling your policy, usually 10 to 30 days in advance.

Can I add someone to my policy?

Yes, you can add another driver to your policy, such as a spouse, child, or friend, as long as they are eligible for coverage. However, adding another driver may affect your premium, especially if they have a poor driving history.

What if I don’t own a car but still want insurance?

If you don’t own a car but still want auto insurance, you can purchase non-owner insurance. It provides liability coverage when you drive someone else’s car or a rental car.

How can I save on my auto insurance?

You can save on your auto insurance by:

• Comparing quotes from different insurers
• Choosing a higher deductible
• Bundling your auto insurance with other insurance policies, such as homeowners or renters insurance
• Taking advantage of discounts, such as safe driver or good student discounts

Conclusion

Having auto insurance in IL is not only mandatory but also essential to protect yourself and your car from unexpected events. In this article, we discussed the different types of coverage, costs, and requirements of auto insurance in IL. Remember, always choose the coverage that fits your needs and budget, and compare quotes from different insurers to get the best deal.