purchase a minimum amount of auto insurance, but many people choose to purchase additional insurance to give
them further coverage. Premiums will vary based on age, gender, years of driving experience, accident and moving violation history, along with a variety of other factors.
Personal Finance Stories When Billy bought his first car, he financed it through the dealership. Before he could drive it off the lot, he had to provide proof of automobile insurance. Using his mobile device, he was able to get a few quotes and instantly signed up for the insurance he needed. As it turned out, it was a good thing the lender required insurance because later that year, Billy was in a car accident. It wasn’t his fault but his insurance carrier was able to negotiate with the other person’s insurance carrier and resolve the issue quickly. While his car was being fixed, Billy’s insurance company gave him a rental car. But that wasn’t the end of it. When Billy’s car was rear-ended, he hurt his back and knee, and was sent to the hospital to be checked out. After a few hours in the emergency room, and some pain medication, he was able to walk out. The cost to fix the car was $5,000 and the cost for the ER visit was $12,000, all paid for through insurance. Without it, he would have had to try to convince the person who hit him to help with the costs, or he would have been on the hook for the full $17,000 himself.
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