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Know the Basics of Illinois Car Insurance Policies for College Students

If you are the sole owner of the vehicle, you´ll need to have your own policy or auto insurance in Illinois as a student driver, your premium will be a bit higher. If your parents own the vehicle, you could be listed as an additional driver but their premium will escalate due to the addition too.

You may want to research what the best policy is for you before you choose your agency but here are a few things to be completely aware of and understand how they will affect you. Illinois state law stipulates any driver caught driving without insurance will be subject to fines and the suspension of your vehicle tags. The state requires you carry Liability Insurance and Uninsured Motorist Bodily Injury Insurance (UM). Liability insurance covers you for any bodily injury you may cause and protects you from paying for any property damage out of your own pocket.

The required amounts are $20,000 per person, $40,000 per incident and $15,000 towards any property damage due to negligent behavior. It is recommended to carry higher rates of $100,000 per person, $300,000 per occurrence and $100,000 for any damages to property but that, of course affects the bottom line when it comes to your premium.

UM Insurance helps to protect you from those people out there who are not carrying insurance. Now, the law will deal with them in regard to breaking the law but you still need to make sure you won´t be affected too. The state requires you carry a $20,000 per person and $40,000 per accident in coverage again making sure you carry higher rates is strongly suggested if you can afford it. UM coverage is the best thing you can do to protect yourself from Hit and Run Drivers too. On a side note, if you do obtain higher coverage rates for UM insurance the state will also require you carry Underinsured Motorist Bodily Injury Coverage (UIM) as well.

As for additional coverage, you may want to consider Medical Payments, an additional premium that covers medical or funeral costs for either you or any passengers that may be injured or killed during an accident in your vehicle, even if the accident is decided to be your fault. It also covers you or family members that may be struck by vehicles while in another vehicle or even just walking.

And finally, you may want to think about carrying Physical Damage coverage to help pay for damages to your vehicle, although you´ll have to pay what is called a deductible. It would be highly recommended for newer and higher end vehicles but you may decide the cost isn´t worth the additional premium. The state does not require you carry this coverage, however your financier may insist on it.

In order to compare quotes about auto insurance in Illinois, enter your zipcode on the top of the page.