Hi there pals, meet me again in another writing about our daily life Now I would like to discuss about insurance and why we need it.
InÂ life,Â lossesÂ areÂ sometimes unavoidable. People may become ill and lose income or savings to pay off medical bills. Individuals or their relatives may die of illness or accidents. Peopleâ€™s homes or other property may suffer damage or theft. People also may accidentally cause injury to others or damage to the property of others.
NoÂ oneÂ knowsÂ inÂ advance when a loss will occur or how serious that loss will be. The uncertainty surrounding potential losses is known as risk. Insurance offers a way for people to replace risk with known costsâ€”the costs of buying and maintaining insurance policies.
AssumeÂ aÂ personÂ buysÂ a new car for $25,000. Its owner faces the possibility that, at some point, the car will suffer damage in an accident. But how could the owner budget in advance for a loss of unknown cost? The cost to repair or replace the car in the event of an accident could range from the price of a bottle of touch-up paint to as much as $25,000. If the accident injures someone, the costs of medical care could be much higher. Through the mechanism of insurance, however, the car owner can share the risk of an accident with others who face the same risk.
AutomobileÂ insuranceÂ (known as auto insurance) protects against damage to a policyholderâ€™s car and most liabilities that could arise from operating that car. Most U.S. states allow drivers to satisfy their financial responsibility for the costs of auto accidents by obtaining insurance in three categories of liability coverage: (1) for injury to any one person, (2) for injury to two or more people, and (3) for damage to another personâ€™s property. An increasing number of states are requiring drivers to obtain auto insurance by law.
MostÂ U.S.Â statesÂ require that drivers who purchase auto insurance buy no less than a specified minimum of coverage, such as $25,000 toward the injury of another individual, $50,000 toward the injury of multiple persons, and $10,000 toward the damage of another personâ€™s property. This minimum requirement is generally listed on policies as 25/50/10. Most Canadian provinces require $200,000 of liability coverage for covering the combined costs of bodily injury and property damage claims. In some provinces, such as British Columbia and Saskatchewan, the government operates compulsory programs of auto insurance in which all drivers must participate.
PeopleÂ faceÂ manyÂ choices when buying insurance policies. They commonly choose an insurance provider based on several criteria. Some of the most important of these include: (1) the financial stability of the insurance company, (2) cheapest car insurance, and (3) details of coverage and service.
People, mainly will choose the cheapest car insurance as they can buy. Just like the economic law, â€œBest thing in a lowest costâ€. Thereâ€™s a lot of cheap auto insurance out there. But not every cheap policy provides best coverage and services. We need to save our money on auto car insurance. But how we solve it?
Thatâ€™s why we need some car insurance quotes from the professional to handle such thing like this. We can get it by e-mail, telephone line, and the most used quotes are over the internet. There so many website which can provides us useful quotes in buying auto insurance policy. And most of them provide us free online quotes for sure.