How Much Auto Insurance is Enough
Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage.
Illinois – How much auto insurance is right for you?
Every person is unique – it depends on your specific situation. To calculate coverage, consider:
Liability pays for the damage you cause to others if your car is involved in an accident. It also protects you from being wiped out financially if you are sued following an accident. The greater your assets, the more you stand to lose. If you have substantial financial resources, you may need liability coverage that exceeds the coverage that you’ll get from an auto insurance policy. In that case, a Personal Umbrella can provide the extra liability protection you need.
Collision covers damage to your car from an accident. We can help you decide whether or not to carry collision coverage by balancing the cost of collision insurance with the value of your car. It might not be worth paying $200 a year for collision insurance on a car that’s worth only $1,000. But if the car is worth $10,000, you probably want this coverage.
Comprehensive coverage pays for your car if it is stolen, vandalized or damaged in some way other than in a collision. Medical coverage provides for medical expenses to you and your passengers that are the result of an accident. What you use your car for may make a difference in the amount of coverage you need. For example, we might suggest more coverage for a parent who regularly takes a carload of kids to soccer practice than for a driver who expects to drive mostly alone.
Keep in mind that Illinois can require certain minimum levels of coverage. The right coverage for you is unique – talk to us today to find out how to get the best price and value on auto insurance for you.