Introduction
(What is car insurance?)
Car insurance (also known as
auto insurance,
GAP insurance,
car insurance, or
motor insurance) is
insurance purchased for
cars,
trucks,
motorcycles,
and other road vehicles. Its primary use is to provide financial
protection against physical damage and/or bodily injury resulting from
traffic collisions and against
liability that could also arise therefrom. The specific terms of vehicle insurance vary with legal
regulations
in each region. To a lesser degree vehicle insurance may additionally
offer financial protection against theft of the vehicle and possibly
damage to the vehicle, sustained from things other than traffic
collisions.
Why car insurance:-
Is important-->
Auto insurance protects you from being financially responsible for an
accident, but you're required to pay monthly premiums to keep the
insurance. By law you must have car insurance if you want to drive on
the road and without it you can be fined, lose your license, go to jail
and also be sued depending on the seriousness of the accident you
caused. Even if you're pulled over without car insurance you can be
fined though which means you must have and maintain auto insurance.
Is required-->
The debate about compulsory car insurance in America goes back more than
100 years, since the advent of the first automobile. It was apparent
very early on that cars would crash and that these crashes would create
damages and that the person at fault would often be unable to pay for
them. Around 1925 Massachusetts and Connecticut became the first two
states to write compulsory car insurance laws, in effect creating a
pooled solution to help cover the costs of at-fault drivers so they
wouldn’t default on their payouts. Since then, nearly every state in the
union has enacted mandatory car insurance liability laws.
Car Insurance in My Country
Here is the detail about pubic policy for car insurance in different country
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