Auto insurance is required by law in most states. In the state of Illinois the minimum required vehicle liability limits in 2015 are 25/50/20. Below is a summary:
-$25,000 injury or death of one person in an accident
-$50,000 injury or death of more than one person in an accident
-$20,000 Damage to property of another person
With this coverage if you damage someone’s car and the damages exceed $20,000 in repair costs; your insurance company will only pay $20,000. At Peak Financial Group LLC, we believe that in this day and age the minimum required limits are not adequate. Cars are more expensive now than when the laws were written and so are hospital bills. The purpose of insurance is to protect you and your family against unforeseen costs. Call us today to review your policies with our agents and make sure you have the coverage you need.