Auto insurance premiums can get expensive. And while Illinois drivers are required to get insured, a smarter insurance purchase will help you get quality coverage for the best price point. Below are six tips to help you make an informed purchase.
- Know your insurance requirements. The State of Illinois requires drivers to have insurance that would suffice the state’s minimum liability coverage. According to the Illinois Mandatory Insurance Law, an at-fault motorist’s insurance must cover at least $25,000 for bodily injury or the death of one person or $50,000 for bodily injury or death of two or more persons. Additionally, the insurance must cover at least $20,000 worth of property damage. Aside from these, there are also required auto insurance coverage for Uninsured Motorists (UM) and Underinsured Motorists (UIM).
- Explore your options. Get brochures and quotes from top-rated insurers for comparison. Two key considerations in choosing your carrier and policy are the coverage you need and the cost of the premium. Don’t fall for the first policy offered to you and anything that sounds too good to be true.
- Choose a Top-Shelf Insurance Carrier. You may get your insurance directly from a company or an agent. Some insurance companies offer direct purchase through online or over-the-phone transactions while others are still using local agents. Just remember to background check your potential insurance carrier. The Illinois Department of Insurance features an Illinois Insurance Company Information page on their website where you can search for information about your top company picks.
- Don’t be afraid to ask questions. The most important part of your purchase is understanding what you are signing up for. The agent you are talking to should be able to answer all your questions regarding the policy. Don’t hesitate to clarify computations and vague conditions. Before signing anything, remember to read the “Declarations” page of the policy which should discuss the type of coverage you will be getting and its limitations.
- Provide accurate information. When finally signing your contract, make sure to give truthful information. Your carrier may terminate your contract should they find any falsified information. The Illinois Insurance Claims Fraud Prevention Act covers auto insurance cases.
- Keep your information updated. Remember to contact your insurance company at least once a year to check for the adequacy of your policy. If you change carriers, cancel the existing one before purchasing a new one.
Keeping these tips in mind should help you get the best auto insurance even on a budget. Just be reminded that type of car, ownership, and even traffic tickets or moving violations may affect your policy. The initial quote may be cheaper from the final price after the company checks with the Illinois Department of Motor Vehicles (DMV).
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A lot of personal injury lawyers raise their contingency fee throughout the process, charging 1/3 if the case is settled pre-suit, charging 40% if the case is filed after a lawsuit is filed, and charging 50% if the case goes to trial. We don’t. At Mike Agruss Law, our personal injury contingency fee is always 1/3 and that’s not changing. We will handle your property damage claim FOR FREE. We will never change our contingency fee throughout the process. You will not owe us a penny unless you get money. Our unique formula has earned us over 1,000 outstanding client reviews on our website, an A+ BBB rating, and over 145 five-star reviews on Google. Call 888-572-0176, e-mail us at [email protected] or schedule a meeting with us here. We’re here 24/7.
