Auto insurance is financial protection, and not just for the investment you made when you bought your car. After a really serious accident, bills for damage and injuries can easily reach into hundreds of thousands of dollars. If you happen to cause such a wreck, the victims could sue you. In the worst case scenario, assets such as your savings and home could be seized.
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Car insurance is a type of insurance policy that efficiently takes care of expenses arising from unfortunate events, such as an accident, theft, and any third-party liability. Car insurance is the best way you can protect yourself and your car from financial emergencies, including any legal liability, resulting from physical damage, traffic collision, bodily injury caused to you, your car, or a third party. Various car-insurance-specific terms & conditions are subject to vary with legal regulations in different regions of the country.