Car insurance isn’t just a box to check once a year. The choices you make – coverage limits, deductibles and optional protections – can have a big impact on your finances if you’re in an accident. Here are some tips to help you choose coverage that fits your needs.
Start With State Requirements
Illinois drivers are required to carry at least 25/50/20 liability coverage, plus 25/50 uninsured motorist coverage. While these limits meet legal standards, they may not cover the full cost of an accident. Medical bills, vehicle repairs and legal costs can add up quickly. If you have savings, a home or a steady income, higher limits may help protect what you’ve worked hard to build.
Choose Liability Limits
Liability insurance helps pay for injuries or property damage you cause to others, up to your policy limits. Consider how much you could be responsible for if an accident involved multiple vehicles or serious injuries. Households with higher incomes, valuable assets or frequent driving may want higher limits. Consider adding umbrella insurance for extra liability protection above auto and home policies.
See more: Four Ways to Save Money on Car Insurance
Decide on Coverage
Collision coverage helps pay to repair or replace your car if you’re in an accident. Comprehensive coverage applies to noncollision events like theft, vandalism, hail or hitting an animal. If your car is leased or financed, both are usually required. If you own your vehicle outright, think about its value, your deductible and whether you could afford to replace it if it were totaled.
Pick a Deductible
Your deductible is what you pay out of pocket before insurance kicks in. Higher deductibles usually lower your premium, but they mean more expense at claim time. Choose a deductible you could comfortably pay from savings without needing a credit card or loan.
Protect Yourself
Not every driver on the road has insurance or enough of it. Uninsured and underinsured motorist coverage can help cover your injuries if the other driver can’t pay. Medical Payments or Personal Injury Protection coverage can help with medical bills for you and your passengers, regardless of who’s at fault. Coverage options vary by state, so it’s important to talk with a qualified insurance agent about the coverage that is right for you.
See more: Farm Liability Insurance is Essential Protection
Compare Insurers Beyond Price
Cost matters, but service does, too. When comparing quotes, use the same coverage limits and deductibles so the comparison is fair. Look at the financial stability of the insurance company, their agent support, available discounts, and how easy it is to file and track a claim.
Learn More
Remember to review your coverage at renewal and during life changes, such as adding a new driver or buying a new vehicle, so you can remain properly covered. COUNTRY Financial® offers an in-depth guide to help you shop at countryfinancial.com/choosecarinsurance. Taking time to evaluate these factors can help you feel more confident that your car insurance is ready when you need it most.
About the Author: Brock Westbrook serves as the National Auto Product manager at COUNTRY Financial.
Auto and home insurance policies issued by COUNTRY Mutual Insurance Company, COUNTRY Casualty Insurance Company and COUNTRY Preferred Insurance Company, Bloomington, Illinois.
