Agent, Rural Mutual Insurance Co., Union Grove, WI
Having auto insurance coverage can help prevent you or your family from experiencing a devastating financial hardship due to an accident. Depending on the coverage that you have it will help you cover medical expenses, rehabilitation, your vehicle and possibly more thereby preventing you from having a major financial burden.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
As the result of a recent accident where a driver hit a pedestrian in the cross walk, a settlement of approximately $750,000 was reached. If you can afford to pay that sort of claim from your existing assets and can do so without any damage to your economic condition, then you don’t need any insurance above what is mandated by state law. If not, consider the highest limits that your company will provide.
That is an excellent question! I am asked all the time why "I need insurance if I don't need it". I always explain it like this - the whole purpose of protection is to help prevent a bad thing from being worse, right? Throughout history we've built fences, moats, armies, etc. to protect ourselves from a potential attack. Did those things get used every day? Nooope. Once in a great while, but they were immensely helpful when they were needed.
That's the idea behind insurance. You may have years of safe driving under your belt without so much as a parking ticket, but you have no control over the chance that the guy coming around the corner towards you won't be coming from the bar, or texting away on his phone. When something like that happens, the insurance is a Godsend. Who has the money to settle a lawsuit or replace a totalled car, let alone repairs or a rental? Having everyone required to have insurance evens out somewhat the odds that anyone is left unprotected in the event of an accident, and greatly increases your ability to pay for those repairs, replacements, rentals, or reparations, should they be needed. I hope that helps, thanks for asking!
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That's the idea behind insurance. You may have years of safe driving under your belt without so much as a parking ticket, but you have no control over the chance that the guy coming around the corner towards you won't be coming from the bar, or texting away on his phone. When something like that happens, the insurance is a Godsend. Who has the money to settle a lawsuit or replace a totalled car, let alone repairs or a rental? Having everyone required to have insurance evens out somewhat the odds that anyone is left unprotected in the event of an accident, and greatly increases your ability to pay for those repairs, replacements, rentals, or reparations, should they be needed. I hope that helps, thanks for asking!