Why Do You Need Auto Insurance?

If you own a vehicle, auto insurance is an absolute necessity. Why? On average, an auto accident occurs every five seconds in the United States. With each accident comes the risk of serious injury to drivers, passengers and pedestrians, as well as damage to personal and public property. To better understand why auto insurance is important to you, consider the following:

• An automobile is one of the largest purchases many people will make in a lifetime. Auto insurance protects your investment by providing money for repairs or replacement in the event of an accident.
• If you’re at fault in an accident, auto insurance protects you against financial loss due to property damage, medical expenses and potential lawsuits.
• Most states require drivers to carry liability insurance. In fact, the consequences of driving without liability insurance range from impounded vehicles to heavy fines or even jail time.
• Despite the stiff penalties of driving without insurance, approximately 14% of drivers in America are uninsured. Uninsured/underinsured motorist coverage protects you if you’re injured or your property is damaged by a driver who has no insurance or who doesn’t have enough coverage to pay for your loss.