Is State-required Auto Insurance Adequate?

As a car owner, you are always looking for creative ways to keep your vehicle ownership costs down. As a result, it’s not uncommon to buy the most basic auto insurance. But is the state-required auto insurance adequate? If you want to find out, keep scrolling as Com-Co Insurance Agency Inc. of Mount Prospect, IL explains whether minimum auto insurance covers you optimally.

State-required auto insurance in Illinois

If you drive your car on Illinois roads, the state requires you to have the below minimum coverages in your auto insurance. 

  • Liability coverage: Your auto insurance should have bodily injury liability to cover you against the physical harm you inflict on other people. Besides, you should have property damage liability to protect you when you are accused of causing property damage to third parties.
  • Uninsured motorist coverage: Since some drivers in Illinois don’t carry auto insurance, this coverage covers your medical costs and property damages caused to you by an uninsured motorist who is at the fault of the accident. 

If you fail to buy the required auto insurance, you are at risk of significant out-of-pocket expenses. Besides, you will receive the below fines and penalties for failure to provide proof of auto insurance ownership.

  • A minimum fine of $500
  • Licenses plate suspension of up to four months
  • Registration suspension that may attract a legal fine of up to $1,000

As you can see, driving without valid auto insurance is costly. But the good thing is that it’s avoidable with proper planning. 

Is state-required auto insurance adequate?

While adhering to the required auto insurance is superb, you need other auto insurance coverages for better protection. State minimums are just minimums. In case your car is damaged in an accident or stolen, your vehicle isn’t protected. Similarly, if you are injured in an auto accident, your medical expenses won’t be covered.

In light of this, please consider the below additional auto insurance coverages for maximum protection.

  • Comprehensive coverage
  • Collision coverage
  • Medical payments coverage/PIP
  • Roadside assistance
  • Gap coverage

Would you like to get more information on auto insurance? If you are in Mount Prospect, IL and its environs, please contact Com-Co Insurance Agency Inc. for all your auto insurance needs.