Illinois drivers may need to call their insurance agents as soon as possible to ask about their coverage since requirements for liability insurance were recently updated. Don’t risk non-compliance. At Stanton Insurance we care about keeping you covered. Read on for the facts you need to know about liability coverage requirements in Illinois.
The agents at Stanton Insurance want you to understand your car insurance policy. Here’s what Illinois drivers need to know about liability insurance:
- Illinois law mandates all registered vehicles carry liability insurance
- Liability insurance is the coverage needed if a driver causes harm to another person or their property.
- Underinsured drivers may receive a letter from the Secretary of State but the agents at Stanton can help!
What is liability insurance?
In Illinois, the law states that drivers are required to carry liability insurance. What is liability insurance? When an accident happens, if the driver is at fault, or responsible for the accident, liability insurance is the coverage that covers costs if there are any expenses for damage or bodily injured. Liability insurance covers the insured assets. The more assets one has, the higher the limits of liability they need.
Why do I have to carry liability insurance?
Illinois drivers must carry liability insurance because of the Mandatory Insurance law. Carrying insurance is a term that means you have purchased insurance coverage. Illinois drivers must carry liability insurance because if harm befalls on another person or their property, costs from the accident can be covered, or partially covered, depending on how much liability insurance they carry.
How much liability insurance do I have to carry?
In Illinois, the minimum amount of liability insurance drivers must carry is 25/50/20 or:
$25,000 bodily injury per person
$50,000 bodily injury per accident
$20,000 property damage per accident
These dollar amounts represent the minimum coverage a driver can carry. However, if a driver is liable for an accident, and if the costs are greater than the amount of coverage carried, a claim can be made against the driver for the remaining damages. That is why it is important to know and understand insurance coverage.
What do I do if I receive a Request For Insurance Verification letter?
If you received a letter from the Illinois Secretary of State’s office indicating an action is required. All insurance companies are required to report to the state’s Electronic Liability Insurance Verification program for all vehicles registered in Illinois. This letter will be sent to drivers who have a registered vehicle that does not have liability insurance recorded in the database. If you receive this letter, you must contact your insurance agent as soon as possible. Your agent will need the letter for verification, please bring it with you. If you have liability insurance your agent will correct the database. If you do not have the proper coverage you will need to purchase liability coverage and pay any fines or fees. Failure to verify liability coverage may result in a suspension of your vehicle registration.
Who Do I Call For Insurance Questions?
Stanton Insurance has been serving Monmouth and surrounding Warren County for over 100 years. We are a family-owned business that is here for all your insurance questions. If you want to understand liability insurance or received a letter from the Secretary of State’s office requiring Insurance Verification, call Stanton Insurance at 309-734-2171 or make an appointment on our website at www.stantoninsurance.com today. We are here for all your insurance questions.