With a new year drawing closer, it also marks a reminder to review financial affairs and insurance coverage. While some insurance coverage plans are optional, carrying adequate auto liability loans are important, explains local Country Financial Representative Tiffany Cole:
“In the state of Illinois, if your liability limits are not adequate to cover a suit that you would be liable for or an accident that you would be liable for, the settlement can be up to 20% of your wages or assets for up to 20 years.”
Cole says in general, $100,000 is carried per person and $300,000 per occurrence, but varying levels of coverage are offered based on individualized preference.
