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Illinois Auto Insurance
As a “tort” state, Illinois requires that each driver carry minimum liability coverage. Illinois also mandates minimums for uninsured motorist bodily injury protection. The term “tort” comes from the Latin “tortus” where it means “wrong.” Illinois auto insurance laws state that a driver who is at fault must pay for damages to person and property caused by the accident, regardless of the amount of coverage carried.
Minimum Auto Insurance Coverage Required in Illinois
When you buy your auto insurance in Illinois, you must purchase a minimum of 20/40/15 in liability coverage. What this means is that all drivers must hold $20,000 per person in coverage, $40,000 for all persons, and $15,000 for any property damages.
In addition to this coverage, the uninsured motorist bodily injury coverage must be at least 20/40, or $20,000 per person and $40,000 for all involved. The uninsured motorist bodily injury protection safeguards all drivers against those who cause an accident and are not carrying insurance.
Finally, Illinois requires underinsured motorist protection if you are purchasing higher limits on your uninsured motorist bodily injury protection. This coverage pays the difference between the uninsured motorist bodily injury liability and the liability coverage of the at-fault driver.
Illinois Auto Insurance Rates
In 2003, Illinois auto insurance ranked close to the middle of the nation for money spent on car insurance with an overall ranking of 24. Illinois drivers spent on average $760.98 in 2003. There was also a recent sharp increase in rates of 18% percent from 1999 to 2003, with the average expense for Illinois auto insurance in 1999 being $646.03. In 2003, Illinois residents paid on average $404.78 for liability, $312.50 for collision coverage, and $128.50 for comprehensive coverage.
So how are the rates for Illinois auto insurance calculated? Insurance companies use formulas which relate to how much it cost to provide auto insurance to every driver in Illinois. They then consider individual variables like age, car model, location, marital status, and driving record. Insurance companies also factor in the cost of doing business in the state, including lawsuit settlements and the like.
Illinois Auto Insurance Companies
Illinois drivers should get rate quotes from multiple carriers and shop often for auto insurance as rates may vary considerably depending on the company.
Additional Auto Insurance Resources
Illinois Division of Insurance
320 W. Washington Street
Springfield, IL 62767-0001
Phone: (217) 782-4515
For other Illinois Insurance Resources, See:
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