Tag: Car Accidents
Is your Car Insurance Enough?
For many people, buying a car is one of the most important moments of their lives. Cars tend to equal freedom and independence, after all, not to mention a way to travel to work, school, family and friends. With that said, it should be noted that owning a vehicle is as much a responsibility as it is a boon to your lie. That means that there are things you must do in order to maintain your vehicle and protect yourself and others. One of the most important of these is ensuring that your insurance is sufficient.
What’s required in Illinois?
Every state has different rules regarding car insurance. In Illinois, there are two different kinds of insurance for motor vehicles that you are required to carry – body and liability coverage and property coverage. Body and liability cover is insurance that, as the name implies, covers deaths or injuries stemming from a car accident that you caused. Property insurance, on the other hand, covers things like damage to the property of another person involved in the accident, including things like the vehicle, yards, fences, personal items, and pets.
The state of Illinois only requires that you maintain the minimum of each kind of insurance coverage in order to remain in good standing with the law. That means that you must purchase the following:
- $20,000 in property insurance (for each accident that occurs)
- $25,000 in liability insurance that covers the death or injury of a single person
- $50,000 in liability coverage to cover fatalities and injuries (for each accident that occurs)
Make sure to speak with your insurance broker to ensure that you meet the minimum insurance requirements set forth by the state. Additionally, you must carry your proof of insurance on your person at all times. Without it, you are not fully complying with the law.
Optional vs. Necessary Insurance Coverage
It is important to keep in mind that simply complying with the state law means carrying the bare minimum in insurance, not actually purchasing enough to cover yourself in the event of an accident. To ensure you have adequate security against car accidents, consider investing in voluntary insurance policies like:
- Medical Payments
- Under-insured/Uninsured Motorist Coverage
Should you find yourself under-insured or uninsured, you could see your license suspended as well as be required to pay an expensive fine. You might also find yourself on the receiving end of civil penalties like a judgement finding you to be responsible for damages and injuries caused by the negligence you displayed when causing the accident in question.
How much insurance do I need?
As indicated above, the state minimums for auto insurance are $20,000 for property insurance, $25,000 for liability (injury or death), and $50,000 in liability (injury and fatalities), or 20/25/50. Most professionals will tell you that you should consider upping these amounts to 100/300/100, respectively, if you have a savings account and are in the middle class. Should you be wealthy and have more expensive assets, then consider investing in 250/500/100. What these higher coverage limits do is help protect your assets should you be found at fault for an accident.
Optional Policies and When to Consider Them
There are a number of optional policies that you can opt to add to your insurance policy. Under-insured motorist coverage, for example, is vital if you have no way to pay for medical care or damage done to your vehicle should you end up in an accident. If you have collision coverage and health insurance, this kind of policy is perhaps a bit more “optional”, but it is still an important one to consider as it helps keep your out-of-pocket expenses to a minimum.
Many people would prefer to avoid collision and comprehensive insurance policies because they are the more expensive additions. It is important to invest in them if your vehicle is ten years old or less, and especially if you have some kind of loan against the vehicle (in which case the lender in question will often dictate a minimum amount of collision/comprehensive coverage to maintain). This kind of optional policy is what helps pay for damage to your vehicle after an accident.
Finally, medical payment coverage is the policy that will help pay for your medical bills should you be injured in an accident. This is especially important if you have no health insurance or if your insurance is inadequate. While this policy addition can be pricey, that cost pales in comparison to the amount of money you could find yourself spending on medical payments should you be injured without it.
Remember that insurance only covers as much as you’re willing to pay for – and after the insurance runs out, you will end up paying for excess expenses. That money will come from your assets and finances. In order to help avoid this, make sure that you maintain adequate insurance coverage at all times.
If you or a loved one have been involved in a car accident, contact the experts at Frederick & Hagle today! We offer free consultations at 1.800.642.1227.
Car accident leaves passenger with fatal injuries in Illinois
On behalf of Frederick & Hagle posted in Car Accidents on Friday, August 12, 2016.of
Many individuals never expect to be involved in a car crash. Though these types of events take place multiple times every day, they are often sudden situations that individuals could not have seen coming. Continue reading “Car accident leaves passenger with fatal injuries in Illinois”
Illinois car accident kills traveler and wrong-way driver
On behalf of Frederick & Hagle posted in Car Accidents on Friday, July 22, 2016.of
It may seem inconceivable to some individuals that a driver could be traveling the wrong way on a road. As many areas are clearly marked and the flow of traffic should be an obvious indicator, other travelers may wonder how wrong-way accidents occur. Continue reading “Illinois car accident kills traveler and wrong-way driver”
Illinois single-car accident kills 2, injures others
On behalf of Frederick & Hagle posted in Car Accidents on Tuesday, June 28, 2016.of
When considering the possibility of filing a civil claim, individuals may wonder if the action is still plausible if the party considered responsible for damages is deceased. Continue reading “Illinois single-car accident kills 2, injures others”
Serious car accident kills 3, injuries another in Illinois
On behalf of Frederick & Hagle posted in Car Accidents on Wednesday, June 1, 2016.
When vehicles travel at high speeds, there could be a chance for them to be involved in serious accidents. If a car accident does take place, the individuals occupying the vehicle may be at risk of suffering serious or fatal injuries. Continue reading “Serious car accident kills 3, injuries another in Illinois”
Illinois car accident leads to fatalities
It is not uncommon for serious car crashes to result in the death of one or more individuals. When such incidents take place, there may be many questions that need to be answered before family members and other parties involved may be able to move forward. Continue reading “Illinois car accident leads to fatalities”
Serious injuries result from car accident in Illinois
On behalf of Frederick & Hagle posted in Car Accidents on Thursday, April 21, 2016.of
A recent report stated that a serious accident occurred in Illinois that resulted in multiple parties being transported to the hospital. The car accident involved three vehicles, Continue reading “Serious injuries result from car accident in Illinois”
Drunk driving accident claims life in Illinois
On behalf of Frederick & Hagle posted in Car Accidents on Tuesday, March 22, 2016.of
When a family loses a loved one due to the actions of a drunk driver, seeking compensation may be a step that seems appropriate. A drunk driving accident can negatively affect many individuals Continue reading “Drunk driving accident claims life in Illinois”
Illinois car accident has serious results
On behalf of Frederick & Hagle posted in Car Accidents on Wednesday, March 16, 2016.of
Individuals of any age could potentially be involved in a car wreck that leads to serious or fatal injuries. Many parents may worry that their teen drivers could be particularly susceptible to such a car accident, and in some cases, that worry is warranted. Continue reading “Illinois car accident has serious results”
Illinois auto accident leaves 2 dead, others injured
On behalf of Frederick & Hagle posted in Car Accidents on Thursday, February 25, 2016.of
Many families who lose loved ones in car accidents may wonder if they can still pursue legal actions if the drivers considered at fault also died. In many cases, surviving family members may be able to file civil claims against the estates of the deceased drivers. Continue reading “Illinois auto accident leaves 2 dead, others injured”