Uninsured Motorist Insurance in Illinois: Why You Need It
Car accidents can be scary and expensive, especially if the other driver doesn't have insurance. In Illinois, uninsured motorists are a real problem, with an estimated 13% of drivers not carrying any insurance. That's why uninsured motorist insurance is so important.
What is uninsured motorist insurance?
Uninsured motorist insurance, also known as UM insurance, is a type of car insurance that covers you if you're in an accident with an uninsured or underinsured driver. In other words, it protects you financially if you're in an accident that wasn't your fault and the other driver doesn't have enough insurance to cover the damages.
Uninsured motorist insurance can cover a variety of expenses, including medical bills, lost wages, and car repairs.
Why do you need uninsured motorist insurance in Illinois?
Illinois law requires drivers to carry liability insurance, which covers damages that you may cause to other people or their property. However, if you're hit by an uninsured driver, you may not be able to recover the full amount of damages from the other driver. In some cases, the other driver may not have any assets to pay for damages, leaving you with a significant financial burden.
Uninsured motorist insurance can protect you in these situations by providing additional coverage. It can also provide coverage if you're in an accident with a hit-and-run driver, as long as you file a police report.
What does uninsured motorist insurance cover?
Uninsured motorist insurance can cover a variety of expenses, including:
- Medical expenses: UM insurance can cover medical bills for injuries you sustain in an accident.
- Lost wages: If you're unable to work due to injuries sustained in an accident, UM insurance can cover lost wages.
- Property damage: UM insurance can cover repairs or replacement of your vehicle if it's damaged in an accident with an uninsured driver.
- Pain and suffering: UM insurance can also provide coverage for pain and suffering resulting from an accident.
It's important to note that uninsured motorist insurance does not cover damages if you're at fault in an accident. It only provides coverage if the other driver is at fault and does not have enough insurance to cover the damages.
How much uninsured motorist insurance should you have?
The amount of UM insurance you should have depends on your individual circumstances. In Illinois, insurance companies are required to offer uninsured motorist coverage with limits equal to your liability coverage. However, you can choose to purchase additional coverage beyond these limits.
When deciding how much UM insurance to purchase, consider the potential cost of medical bills, lost wages, and property damage in the event of an accident. You may also want to consider your personal assets and the likelihood of being in an accident with an uninsured or underinsured driver.
In conclusion, uninsured motorist insurance is an important type of coverage that can protect you in the event of an accident with an uninsured or underinsured driver. Purchasing the most you can afford highly recommended. Talk to your insurance provider to learn more about your options for UM insurance and make sure you have the coverage you need.