3 Facts about Illinois Auto Insurance

by | Dec 10, 2018 | Insurance

For the most part, every state in the United States now requires vehicle drivers and owners to maintain some sort of auto insurance. The specifics, however, vary slightly from state to state. When you purchase or renew your policy, it is important to do so from an insurance provider that meets your state’s requirements. Illinois residents have many options for their vehicle auto insurance, so it’s important to do your research to ensure the best deal for your specific insurance needs.

Here are three facts about auto insurance for the state of Illinois.

Financial Responsibility

Financial responsibility is the amount of insurance you are required to carry in case you are in an accident and found to be at-fault. It covers up to a specific amount, like $25,000/$50,000/$20,000, in case of bodily injury or death to one person, more than one person and property damage to others. When you purchase a new car and a bank finances the loan, as part of your financial contract with the institution, they will require a certain financial responsibility. If you own your vehicle outright, your state imposes a minimum financial responsibility.

SR-22

An SR-22 is proof of financial responsibility. It is issued to you by your insurance provider once you have purchased your policy. You are required to carry this proof with you. Individuals who have three or more insurance violations, were involved in an uninsured accident or have been convicted of driving under the influence may be required to acquire an SR-22 in Illinois.

Acquiring Insurance

For Illinois drivers, a variety of methods to acquire insurance are available. You have the option to see a representative in person or you can complete the process online. Whatever method you pick, ensure the carrier is an approved provider in your state.

Obtaining insurance is a must throughout the US. Companies, like Accurate Auto Insurance are well versed in the requirements of Illinois vehicle auto insurance.

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