Compensation for injuries, property damage, lost wages, as well as pain and suffering caused by motor vehicle crashes in Illinois, are paid by insurance companies in almost every case. There are some instances when a large company, like a logging company, for example, might self-insure and pay claims through a fund that acts like an insurance company, although these cases are rare. Therefore, if you are seeking compensation for your injuries and losses in the aftermath of an Illinois car accident, you will need to deal with an insurance company.
The insurance company has the upper hand if you try to take them on alone. Auto insurers in Illinois have dedicated professionals who receive extensive training and possess a substantial amount of information shared throughout the insurance industry that puts you, as an individual trying to heal from injuries, keeping your finances from going out of control, at an extreme disadvantage. You are in no position to argue for yourself, and that is why you must obtain counsel. Your Illinois auto wreck attorney will have only your best interests in mind when negotiating your insurance claim and having a dedicated professional on your side will level the playing field.
The minimum insurance requirements mandated by Illinois state law are low when judged by the comparative cost of replacing a vehicle and the cost of health care today. Illinois law requires, as a minimum, that drivers carry $25,000/$50,000 death or bodily injury coverage and $20,000 for property damage coverage. To put it more simply, when a driver has the minimum coverage required by law, the insurance company is contractually bound to insure the driver for $25,000 for a single injury or $50,000 for all injuries in one event, as well as provide property damage coverage up to $20,000. The insurance company has no duty to compensate you for more than the amount for which they are contractually obligated.
Illinois auto insurers allow drivers to purchase underinsurance coverage the far exceeds the minimum required by law. The underinsurance coverage, known as a first-party claim, will cover your losses if your damages exceed the third-party limits.