Why Have Car Insurance?
12689 POINTSview profileTed RatliffOwner, SFS Associates,First of all in most states it is mandatory and you can lose your license if you do not have insurance. It is also a protection for you against lawsuits. Non of us plan on being in an at fault accident and hurting or killing someone. If someone is hurt or killed they or their family are entitled to compensation. Car insurance can help provide at least some compensation for medical bills and loss of income for the innocent party.Answered on May 10, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaInsurance is designed to share a risk that you cannot handle yourself. Can you pay the $750,000 paid a few months ago to the family of a pedestrian struck in a crossing lane? Can you afford to buy your vehicle if it is damaged in a collision? If you or a passenger is hurt in your car by someone else who thinks auto insurance is unnecessary, can you pay the medical bills? The legal requirement is a minor issue.Answered on June 5, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! The best answer I can give you is because it's the right thing to do. First, it's right because it demonstrates responsibility in protecting yourself, and others on the road; secondly it shows responsibility in obeying the law, as auto insurance coverage is mandated by law. Responsibility is a good thing, especially if you are going to be driving. Thanks for asking!Answered on June 5, 2014flag this answer
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