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Why carry auto insurance?In: Auto Insurance [Recategorize] |
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First of all it is required by law, everywhere. Second we live in a society where a person is held responsible for the damage that they cause. Since the operation of a vehicle can cause a significant amount of damage, more damage than most of us can pay for out of our own pocket, we buy insurance. We trade a small, certain amount of money in insurance premium in order to have someone else, the insurance company, pay for the damage we cause, on our behalf.
First answer by Puddles. Last edit by Puddles. Contributor trust: 449 [recommend contributor]. Question popularity: 39 [recommend question]
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