Have You Reviewed Your Auto Insurance Policy Limits Lately?

Car accidents happen every day and can result in great financial loss from lost wages, medical bills, or inadequate auto insurance. In every car accident case, someone is legally liable. Unfortunately, sometimes the liable party has no liability insurance. 

The state of Illinois requires insurance policies to automatically include uninsured motorist coverage with the purchase of the state-required Mandatory Vehicle Insurance. But costs from a Chicago car accident can far exceed the minimal amount of coverage included in your insurance plan. 

It is important that you understand the limits provided by your uninsured motorist coverage on your insurance policy.

For instance, imagine you are in an accident with a motorist who runs a red light and crashes into your car, causing physical damage to your car and lacerations to your face and arms. 

You are unable to work for two weeks. In addition to medical bills totaling $26,000, you have no sick leave at work and lose $2,000 in lost wages for a total financial loss of $28,000.

This driver was uninsured and so you turn to your insurance policy. In this instance, if your policy provided coverage at the state mandated minimum of $20,000, you will be responsible for the $8,000 of financial loss you have suffered above and beyond the $20,000.

Check in with your insurance agent yearly. Make sure your policy provides adequate coverage for all situations. 

If you are involved in an accident with an uninsured motorist a Chicago personal injury lawyer can help you work through any complications arising as a result of inadequate coverage of involved parties.  

Learn more about Illinois' mandatory insurance law by visiting our article library. 

The Law Offices of Barry G. Doyle, P.C. understands the complexities of car accident cases, including those with uninsured motorists. For a free case evaluation and help preparing your uninsured motorist claim contact us today - 312-263-1080