Auto Insurance
What is auto insurance?
An auto insurance policy is a contract between you and an insurance company. You pay a premium, and in exchange, the insurance company promises to pay for specific car-related financial losses during the term of the policy.
Do I really need auto insurance?
Auto insurance is designed to protect yourself financially. If you or anyone for whom you're responsible seriously injures another person, you can be held liable for the injured person's medical expenses, rehabilitative therapy and long-term nursing care, as well as for his or her lost earnings.
Auto insurance is also often a legal requirement. State laws typically state that as a driver, you either must have insurance, or be able to provide evidence that you have the financial resources to pay a judgment against you if you cause injury or damage to another person. An insurance policy is the easiest way to document that you can pay damages.
Who is covered under an auto policy?
Your policy usually covers you, your spouse, and other relatives who live in your household and others who have permission to drive one of your covered vehicles.
What is covered under the Liability coverage of my policy?
The liability coverage in your auto policy pays damages which an insured becomes legally liable to pay because of bodily injury damage to others and property covered by an accident resulting from the ownership, maintenance or use of your car. Most state laws require that you carry a minimum amount of liability insurance. (We recommend that you carry much more than the minimum — certainly enough to protect all your assets.)
In some states, Uninsured Motorist coverage may also be required. Uninsured Motorist coverage is designed to protect you from injuries or damages caused by a driver of an uninsured or underinsured motor vehicle.
Are there other, optional coverages available?
That's up to you. Once you've met the minimum legal liability requirements, (we'll tell you what these are when you get a quote), you should select other types and amounts of coverage to tailor your policy to your own needs. In addition to Liability coverage to protect you when you do damage to others, here's what an auto policy may cover:
- Damage to your car. Your car may be covered against collisions it may have with any other object, if you select collision coverage. Your car may also be covered against damage caused by other events such as vandalism, theft, broken glass, storms and falling objects, if you select comprehensive coverage
- You and your passengers against uninsured or underinsured motorist. If you're hit by someone who either doesn't have insurance or doesn't have enough insurance to cover the accident, uninsured motorist coverage and underinsured motorist coverage may provide additional protection. (Again, in some states this coverage is mandatory.)
- You and your passengers for medical costs. Your policy may provide coverage for reasonable and necessary medical and/or funeral expenses incurred as a result of injuries sustained in an accident, if you select medical payments coverage and/or, if available in your state, personal injury protection coverage.
What affects my auto insurance rates?
A number of factors, including:
- Where you keep and drive your car. Where you live and drive has an impact on the cost of your insurance. That's because the frequency of events like vandalism and car theft, and the cost of car repairs and medical bills, vary from one area to another. For example, operating a car in Chicago, Illinois, may cost twice as much as operating a car in Pierre, South Dakota.
- The make and model of your car. The cost of insurance depends on what type you drive.
- Your driving record. Your insurance rates may be affected by traffic tickets and convictions for various violations over the past several years.
- Your age. Statistically, less experienced drivers have more accidents and tend to get more tickets.
- How the car is used. Rates can vary based on whether your car is used for pleasure, commuter use or business use. Your annual mileage driven can also have an impact.
What can I do to reduce my rates?
Excellent question. Here are a few tips:
- Drive safely. There's no sure way to keep the cost of insurance down than to be a defensive driver.
- Discuss the many available discounts with your Equity Insurance agent.
What questions should I ask my EIA agent about auto insurance?
That, of course, depends on your particular situation. But here are a few questions to think about:
- What exactly is no-fault insurance? Is it used in my state?
- How can I lower my premiums?
- Do I need to purchase additional insurance when I rent a car?
- Do I get a discount if I insure both my home and car with E I A?
- What are the available coverages and what do they cover?
- If my windshield cracks, is there a deductible?
- What payment options are available?
- Is everyone in my household covered to drive my car?
- Is it easy to add a new or used car to my policy?
- How will my rates be affected by my child getting a driver's license?
- Will my rates decrease if I get married?
- When should I switch from being on my parents' policy to getting one of my own?
- Do I need to include my children on my policy if they're away at college?
- Am I covered for travel to Canada or Mexico?
What types of coverage does EIA offer?
EIA Insurance is one of Illinois' number one auto insurer, but we can insure more than just your personal automobile. See an EIA Agent today about your personal auto insurance needs or for any of the following automobile coverage needs:
- Recreational Vehicles (snowmobiles, golf carts, etc.)
- Campers
- Off Road Motorcycles
- Motorcycles
- Antique Cars
- Classic and Replica Cars
- Commercial Vehicles
- School and Church Buses
- Motor Homes
- Utility Trailers
- Travel Trailers
EIA offers an unbeatable combination of coverages, service, and affordable rates. In addition, there are many discounts available on EIA auto policies, and the availability of discounts varies by state. Call your EIA Agent for more details.
Discounts Available:
- Multiple Auto
- Multiple Line
- Passive Restraint
- Good Student & Driver Training
- Accident Free
- Anti-theft Device
- Defensive Driving
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