%20but%20you%20have%20to%20ask%20yourself%20if%20they%20are%20truly%20protecting%20you.%20Let's%20consider%20a%20few%20questions%20regarding%20this:1)%20How%20much%20damage%20are%20you%20going%20to%20do%20if%20you%20hit%20another%20vehicle%20head%20on?2)%20How%20much%20damage...){kind=link}
Illinois Auto Insurance - Why do I need auto limits higher then the State minimum?
While it's true that there are companies out there that are willing to sell you the
State of Illinois minimum insurance requirements ($20,000/$40,000 per accident) but you have to ask yourself if they are truly protecting you. Let's consider a few questions regarding this:1) How much damage are you going to do if you hit another vehicle head on?
2) How much damage are you going to do when you T-bone a car because you did not see the stop sign?
3) How much damage are you going to do should that T-bone involve a passenger sitting on that side of the car that you hit?
4) What if that passenger was pregnant?
Seriously, how long do you think it's going to take for the $20,000 in coverage that you have to be eaten up? Do you really think that $20,000 will go a long ways towards protecting you? Did you realize for only a few dollars more each month that you could easily move your coverage to over $100,000 in protection? Better yet, by moving your policy to $500,000 in coverage you are not eligible for a $1,000,000 umbrella. Is the few hundred dollars your going to save annually really worth the risk you're taking by carrying minimum coverages?
Let's take the pregnant passenger example. Obviously, she will need to go to the hospital (by ambulance) and have a myriad of tests performed on not only her but her baby. What is she goes into pre-term labor and delivers the child at 6 months? Do you think your $20,000 will cover even the first part of the delivery let alone the months of neonatal care the baby will need to receive? Your insurance company will write a check to them for $20,000 and anything above that amount is now your responsibility. You could be forced to sell your home, your car, cash in your 401K and sell off any personal property to help pay this bill.
Bankruptcy? Sure, there are some out there that would view bankruptcy as their way out of this situation. But, if the hospital can't get the money from you due to a bankruptcy filing, then they will go after the lady whom you hurt. Is it fair to stick her with your bills? So, I ask you this, if you could avoid the above scenario for a few hundred dollars a year, would you do it? I sure hope you would.
More often then not, what our agency finds is that we save people enough money on their home/auto coverage that the difference can not only fund an increase in liability limits but also place an umbrella policy on top of your home/auto. I can show you example after example of how our agency insures our clients for not only far superior coverage but also still put money back into our clients pockets. Our responsibility is not just to protect you......it's also to protect the one's you might hurt.
Illinois Auto Insurance - Why do I need auto limits higher then the State minimum?
By: Bob Woodard