Chicago Automobile Insurance

Chicago automobile insurance requires liability, uninsured motorist coverage, and underinsured motorist coverage to protect Chicago residents from the financial consequences that can result from an automobile accident.

Illinois liability insurance consists of the following: Bodily injury, which pays for the injury or death of an individual, and property damage, which pays for the damage done to another's property in the instance of an automobile accident. Property damage doesn't have to be damage to another automobile, though. Property damage can cover any damage that your automobile may cause to any type of property. This property can range from a garden gnome in someone's yard to an RV they may have sitting on the street in front of their home.

The minimum amount of liability coverage required in the state of Illinois is $20,000 per person and $40,000 if more than one person is injured or killed in an accident. In regards to property damage, the amount is $15,000 per accident. Uninsured motorist limits are $20,000 per person or $40,000 if more than one person is involved. Underinsured motorist coverage covers the difference between your uninsured motorist limits and the liability limits of the driver who is at fault. [1]

There are a number of options you can add to your Chicago auto insurance. For instance, you can add towing, which will pay all or part of the cost to tow your vehicle after an automobile accident. You may also be able to add rental reimbursement to your Chicago auto insurance policy, which means your insurance can reimburse you a specific amount for each day your car is in the shop and you are using a rental car. [1] You simply need to evaluate why it would be in your best interest to add add-on items to your policy, whether you are seeking further protection for yourself financially or for your automobile.

Medical Coverage

Although you can acquire coverage for your automobile, medical coverage is a significant part of the policy, especially when it comes to liability. This is because in Illinois, just like throughout the entire country, medical expenses are high. Depending on the injuries treated by an IL hospital, the treatment can be in the tens of thousands of dollars, if not into the hundreds of thousands. If you were to be sued by another Chicago driver for injuries sustained in an automobile accident, this could be catastrophic to your finances. That is why you want to make sure adequate medical coverage is a part of your insurance policy. Even if you have to add additional coverage, the cost of this protection can be worth it. Chicago is a city in which the traffic can become congested and the streets are always busy. You never know when an accident is waiting around the corner.

As for what the medical part of your Chicago automobile insurance policy pays, it simply pays for injuries a person sustains in an automobile accident that is your fault. A death benefit may also be payable in order to pay for funeral costs by making a payment to the estate of the deceased.

Credit Score and Premium

There are a number of factors that can influence your Chicago car insurance premium. One of those is your credit score.

Any insurance agency in IL can check your credit score to see how creditworthy you are. Although your credit score can't influence whether or not you can acquire insurance because it is required by law, you may have to pay a higher Chicago auto insurance premium if your credit is bad. It can be an inconvenience for an insurance company to have to cancel and reinstate policies constantly, so they offset the potential time involved with canceling and reinstating by charging a higher premium.

In addition to your credit score, the type of automobile you are driving in Chicago, your age and gender, your risk as a driver, and a few other basic items can determine how much you pay. How much you drive throughout Chicago in any given month may also be a factor. Other than driver risk, these are factors that you don't have control of. Over time, however, you may be subject to lower rates on your Chicago vehicle insurance due to age, driving record, etc., so know that your Chicago automobile insurance will always be affordable in different ways.

It is very important that you secure a Chicago automobile insurance policy that fits your needs. Whether in Chicago, IL or Los Angeles, you never know when an accident may be waiting. If one is, then you can be adequately covered. Very few people intentionally become involved in automobile accidents. Accidents do happen. Unfortunately, some accidents can be more damaging than others, but that's why there is insurance to protect all parties involved in some form.

[1] 06/09/2010


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