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Why carry auto insurance?

Updated: 8/16/2019
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Wiki User

18y ago

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First of all it is required by law, everywhere. Second we live in a society where a person is held responsible for the damage that they cause. Since the operation of a vehicle can cause a significant amount of damage, more damage than most of us can pay for out of our own pocket, we buy insurance. We trade a small, certain amount of money in insurance premium in order to have someone else, the insurance company, pay for the damage we cause, on our behalf.

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18y ago
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