Commercial Auto Insurance Minimum Requirements in Illinois

Determine the Required Amount of Coverage

Should you decide to opt for a commercial policy, be ready to talk about the following with an insurance agent or representative:

• How the vehicles are used

• How much they weigh

• Who owns the vehicles

But, you also might need to discuss other matters such as how much the vehicles are worth, what sort of cargo they'll carry, and if they have any special type of equipment.

Always keep the state minimum insurance requirements in mind:

• $20,000 of bodily injury coverage for injuries or deaths occurring to one person in an accident.

• $40,000 of bodily injury coverage for injuries or deaths occurring to more than one person in an accident.

• $15,000 of property damage coverage per accident.

And remember that you can contact the SOS and talk with an insurance agent about the required―and right―amount of coverage for you.

Purchase a Commercial Policy

Once you've decided on the types and amounts of coverages you need, the next step is to take out a policy. You'll have many choices in carriers, including those providers who only sell commercial policies. It's best to comparison shop―online or by phone―to find the fairest rates and widest coverages. Many insurers offer a multiple policy discount, so don't overlook your current carriers.

Proof of Insurance and Financial Responsibility

When requested to provide proof of insurance, you can do so by showing your valid insurance card; the SOS recommends just keeping it in the vehicle.

Penalties for Failure to Maintain Financial Responsibility

What happens if you have no proof of insurance because you let your policy lapse?

You could face a license and registration suspension, and possibly $500 or more in fines if you were driving while uninsured. Also, anyone caught driving your suspended vehicle could be nailed with at least a $1,000 fine.

First-time offenders need to submit current proof of insurance and pay a $100 fee to reinstate their driving privileges.