06-21-2019, 10:53 AM
Car insurance helps provide financial protection for you, and possibly others, if you are involved in an accident.
Car insurance is expensive, but states require it for a reason. In case of an accident, it can save you a lot of money and a lot of stress. Here's why you need car insurance.
Sometimes it seems that states mandate us to have car insurance just to make insurance companies rich.
But is this really the case? Or are other factors at work?
Let's dig a little deeper.
According to the National Highway Traffic Safety Administration (NHTSA), there were 6,264,000 auto accidents in the US in 2018. Those accidents resulted in 35,092 fatalities and 2,443,000 injuries. Property damage occurred in 4,548,000 of accidents.
Those statistics represent the cumulative driving experience of 210 million licensed drivers in the US. That means that there's about a 3 percent chance you'll get into an accident of some kind in any given year. That may seem low, but if you do get into an accident and you don't have insurance, the consequences can be overwhelming and even financially devastating.
So let's visit the reasons why you need car insurance.
Car insurance is expensive, but states require it for a reason. In case of an accident, it can save you a lot of money and a lot of stress. Here's why you need car insurance.
Sometimes it seems that states mandate us to have car insurance just to make insurance companies rich.
But is this really the case? Or are other factors at work?
Let's dig a little deeper.
According to the National Highway Traffic Safety Administration (NHTSA), there were 6,264,000 auto accidents in the US in 2018. Those accidents resulted in 35,092 fatalities and 2,443,000 injuries. Property damage occurred in 4,548,000 of accidents.
Those statistics represent the cumulative driving experience of 210 million licensed drivers in the US. That means that there's about a 3 percent chance you'll get into an accident of some kind in any given year. That may seem low, but if you do get into an accident and you don't have insurance, the consequences can be overwhelming and even financially devastating.
So let's visit the reasons why you need car insurance.