Some insights to keep in mind as you look over your auto insurance policy:

• Liability insurance is required by law. It pays when the insured driver is legally responsible for another person's damages.

• Minimum liability limits in Illinois are $25,000 / $50,000 for bodily injury and $20,000 for property damage. Choose a limit that adequately protects your financial assets.

• Auto policies must include uninsured motorist bodily injury (UMBI) coverage. UMBI pays the insured's injury-related damages like medical bills, lost wages, or pain and suffering related to an accident with an identified, uninsured driver. It is best to match bodly injury and UMBI limits.

• Underinsured motorist boily injury (UIMBI) pays when the at-fault driver has lower bodily injury limits than the insured's UIMBI limit. It is best to match bodily injury and UIMBI limits.

• Physical damage is split into two separate coverages (comprehensive and collision) that pay for damage to your insured vehicle. Comp and collision are optional, but lenders insist on it.

• Comprehensive pays for losses like windshield chips, vandalism, theft, and deer hits. Most policies have a comprehensive deductible.

• Collision pays for repairs the insured vehicle following a crash with another car or fixed object. This covearge has a deductible.

• Auto insurers offer a variety of endorsements that expand coverage for an additional cost. Among these are rental reimbursement, towing, gap coveage for leased or financed vehicles, custom or non-factory equipment, uninsured motorist property damage coverage, and more.

• Filing a claim with your own insurance company is called a first-part claim. Review the policy's 'Loss Settlement Provisions' for more about the claim settlement process.

• Requesting damages from another person's insurance company is called a third-party claim. These claims are settled according to policy terms between the other person and their company.