The Importance of Uninsured Motorist Coverage While liability coverage is mandatory, Illinois law also strongly emphasizes the necessity of protecting yourself against uninsured drivers. Furthermore, you are financially responsible for any damages or injuries you cause while uninsured, which could result in wage garnishment or lawsuits if you are unable to pay the out-of-pocket costs.
Understanding Uninsured Motorist Coverage in Illinois
Uninsured Motorist (UM) coverage is not required by law, but it is a critical component of a balanced insurance policy. Factors Influencing Your Insurance Rate.
Financial and Legal Ramifications In addition to suspension, you may be required to file an SR-22 certificate, which is a high-risk insurance verification filed by your insurer to the state. Stacking Your Uninsured Motorist Benefits Illinois allows policyholders to "stack" their UM coverage, which can significantly increase your protection.
Understanding Uninsured Motorist Coverage in Illinois
The final figure, $20,000, covers property damage liability for another vehicle or infrastructure like a fence or pole you damage in an at-fault incident. If you injure one individual in an accident, your insurance will cover up to this amount for their medical costs and related damages.
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