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1
Dec 09

Illinois Auto Insurance

Illinois Auto Insurance 

Like each state in the US, Illinois has the responsibility of instituting and mandating Illinois auto insurance laws.  These laws are to protect the drivers, passengers and property in the state of IL.  This is important because Illinois auto insurance not only protects those involved in an accident, it also protects the insured from financial devastation. Below are some essential facts to understand before you start comparing car insurance rates and choose the policy that is best for you.

Illinois Auto Insurance Plans

Although you have minimum requirements when it comes to obtaining Illinois auto insurance, you also have options over and above the bare minimum requirements.  The following are basic coverage from which to build: 

1.$20,000 of (BIL) – Bodily Injury Liability- for each person in an accident;    
    $40,000 per accident
2.$15,000 of (PDL) – Property Damage Liability – for damage to another person’s property

In Illinois if (UIM) Uninsured Motorists’ protection is elected, it must be equal to the amount of bodily injury limits.  In the state of Illinois that amount would be $20,000 of (UIM) Uninsured or Underinsured Motorist Coverage for bodily injury for each person per accident and $40,000 per accident. 

In addition to the bare minimums it is recommended that you obtain collision and comprehensive coverage to protect you in the event of collision, acts of nature, and vandalism to your vehicle.  If your vehicle is financed, the lender will probably require it. 

Savings On Illinois Auto Insurance Premiums

Anyone with a vehicle may be interested in saving their Illinois auto insurance premiums.  It is important to know some general prerequisites for saving on this necessary expense.  You can save by:

  • Maintaining good credit or improving your credit score
  • Deciding on an economical vehicle versus a luxury vehicle
  • Choosing higher deductibles as opposed to the minimum
  • Having a good driving record or taking classes to improve points
  • Combining your auto and home insurance
  • Omitting unnecessary options

The insurance company you choose is going to make a difference in your premium as well.

Illinois Auto Insurance For High Risk Drivers

If a driver has exhausted his or her options in obtaining Illinois auto insurance for high risk drivers, they can obtain SR22. This is liability protection for those who can not qualify for private insurance in the state.  SR22 carries the minimum coverage of the amount equal to the BIL limitations in Illinois. This is $20,000 for each person in an accident and $40,000 per accident.

Illinois Auto Insurance For Teens

Here is one cost saving options for parents with teen drivers. Instead of shopping for separate Illinois auto insurance for your teens, you can include them on your own policy. This is usually referred to as an umbrella policy.  Teens in Illinois have restrictions as well as other states, and they are very similar. They have to have their learners permit at least 9 months before obtaining their license to drive alone. Having good grades may help your teen qualify for discounts with some insurers.

The Process Of Making An Illinois Auto Insurance Claim

The process of making an Illinois auto insurance claim starts at the scene of the accident.  It is important to obtain as much information as possible at the scene including witnesses contact information.  The process of your claim will depend on the extent of your accident.  If injuries were incurred your claims process will take longer.  You may have to meet with a claims adjuster and hire an attorney to make sure the process goes smoothly.  You also want to get the monetary damages you are entitled to.

Who Gets The Illinois Auto Insurance Check At Settlement

The answer to who gets the Illinois auto insurance check at settlement depends on the nature of the accident and mainly who was at fault.  If the other driver was at fault and you sustained injuries more than likely you will receive a check made out to you.  If the vehicle is financed, the lender may receive the check.  In this case further steps have to be taken.  If you were at fault in the accident your check may come in your name and the name of the body shop or repair shop. 

Illinois Auto Insurance Rates 

It is important to do your homework when shopping for Illinois auto insurance rates.  The best place to shop for rates is often on the Internet for reasons of ease and speed.  You can also shop by phone, but you should expect to spend a lot more time.  For help in getting Illinois auto insurance rates online, click on the quote tool at the top of this page.


29
Nov 08

Getting To Know Your Hybrid SUV

It seems that when we say hybrid SUVs we actually make a mistake, as it sounds like an oxymoron. Why is that? SUVs are luxury vehicles and whoever buys one probably has enough money to maintain and fuel it.Even so, with the fuel prices staying so high, we should not be amazed at people’s desire to have more economic vehicles, even though the vehicles under discussion are SUVs. Besides, there is this tendency and increase-awareness goal all over the world to remind of the importance of our energetic resources which we are constantly wasted. Therefore, we should all be concerned about having hybrid vehicles which are more fuel-efficient.

So with these in mind, people started making some adjusting to powerful vehicles and turn them into hybrid SUVs. When you decide to buy hybrid SUVs, keep in mind the fact that not all of them are advantageous when it comes to the costs, which means that you have to do some research before choosing among the various hybrid SUVs. To assist you with the choice, analysts at automotive-cost tracking Web site IntelliChoice.com ran a study for CNNMoney.com, in which they analyzed and compared projected 5-year ownership costs for specific vehicles that were similar in price and maintenance costs to SUVs. The elements followed in this study were fuel, maintenance, finance costs and depreciation. Analysts intended to find out whether specific costs measured up to their expectations. There was also a comparison between regular and hybrid SUVS. According to their findings, hybrid SUVs beat the broad expectations by about $4,000.

Among the hybrid SUVs promoted on the market at present, there are a number of vehicles like Acura RD-X, BMW X5 Hybrid, Chevrolet Tahoe/GMC Yukon, Chevrolet Equinox, Dodge Durango, Ford Escape, Lexus RZ 400h, Saturn VUE, to mention just a few of them. So, as you can see almost all the big automobile companies have become interested in doing something about the environment and finance and have already come up with a number of hybrid SUVs on the market.

How much fuel do you save with hybrid SUVs? No one can give clear cut figures as the calculations are quite extensive and the amount differs from vehicle to vehicle, as well as from driver to driver. In a nutshell hybrid SUVs, and hybrid vehicles in general, though heavier, seem to bear their bigger weight better than conventional vehicles, and this is apparent if we consider the issue of fuel efficiency and costs. Consequently, choosing from hybrid SUVs types is a true pleasure; take a driving test and see for yourself. Hybrid SUVs are definitely worth paying for.


29
Nov 08

Used Cars Are Better Than New

Are used cars or new cars better? New cars begin depreciating the second you sign the papers. Now that question is an easy one. Since a car is a depreciating asset, meaning in general cars lose value with time, the best money decision is to purchase the car when it will tend to lose less value. That of course combines with the concern over the state when a car needs less maintenance. The slightly used car is about the best for both concerns. The value has already dropped from new car state. Someone else got robbed by that decrease. The car is still in good condition, often still under warranty, so that it won’t have need for constant and costly repairs like an older model car needs.

Late model used cars are available from a variety of sources. Car lots have a lot of traded in cars. Those vehicles are looking for new owners. Companies like Carmax specialize in used automobiles, while eBay has an entire subsection dedicated to car auctions, mostly for used vehicles. There are car auctions in every city. These include police auctions of impounded vehicles as well as dealer auctions that might involve, for example, cars purchased from car rental companies.

Kelly Blue Book is a valuable resource to determine the relative fair price of a used car. Categories include make, model, year and condition from poor to excellent. It also breaks down the prices between dealer sales and private sales. Dealers have overhead private sellers don’t have so that is important.

Have you thought about the financing for the used car? Think about saving up the pennies and making a cash purchase. No matter how low the monthly payments or interest rate, paying cash is better. It’s nice to own a top of the line auto. Remember, however, that even simpler models get from point a to point b. That not only helps your bottom line, but your blood pressure. People who own the luxury cars worry more about them. Many used car owners take pride in their cars, but don’t worry over a ding or two.

Sure cars are a status symbol, but wealth isn’t based on what you spend. It’s based on what you save and on net worth. There are people living hand to mouth even though they earn a lot of money. Good used cars help the budget.