Vice President/Agent, Best Rates Insurance Inc, Kalispell Montana
The reason you are required to have insurance is because in the event of you causing injury or damage to someone else. Your insurance pays for that . Now there is such a thing as self insured which means you can afford to pay for all damages yourself. but the thought can be quite frightful, Example you plow into a school bus full of children because your tire blew and you killed a bunch of children would you be willing to risk everything you own to pay for the damages? That is why you have insurance is to cover damages to others. On the flip side that also covers you if you have un insured and under insured coverage's so that if someone hit you and has no insurance then your medical bills are covered also
Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
I can only think of two institutions that actually require car insurance. First, if the state in which you live and register your car has a law that imposes such a requirement in order to register it. Second, if you buy a new car with a lien or lease a new car, the financing company will imposes requirements for insurance.
Now, that having been said, it still makes good sense to buy car insurance even if either of those two reasons are not imposed. Car insurance protects you in the event it is stolen, damaged in an accident or otherwise affected. But further, it provides important financial protection in the event you cause an accident and are held liable for any injuries or damage that result from that accident.
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Now, that having been said, it still makes good sense to buy car insurance even if either of those two reasons are not imposed. Car insurance protects you in the event it is stolen, damaged in an accident or otherwise affected. But further, it provides important financial protection in the event you cause an accident and are held liable for any injuries or damage that result from that accident.