Car insurance is not something to take lightly, and for most people, it one of their most significant expenditures. Having a minimal amount of car insurance is required everywhere in the country, and its rules and enforcement are left in the hands of the state. If you are in the Collierville, TN area, consider consulting with Brock and Poole Insurance Agency to fulfill your insurance requirement.
It’s about liability
Since most people in this country drive, tragedies inevitably happen, and besides covering costs for either party, the requirement to have insurance is about liability. In many areas, the most important aspect is bodily injury and property damage, which the state sets a certain minimum for drivers to have. By the time you have a license and your vehicle registered, you should already know this.
Even if no law were set in place, it would be likely you need auto insurance anyway. For example, When you purchase a vehicle with monthly payments, it is likely the bank or dealership will require you to have a minimal amount of coverage. This is because your vehicle is still considered an investment, and third parties will want to have it protected until it’s paid off.
If there were no requirements in place, we would have to hope that most drivers would have the financial means to cover the costs in the event of an accident. Realistically speaking, that just won’t happen. There are more benefits than just fulfilling your legal requirement. You also are covering your assets and protecting passengers in your car when you have a fully-featured auto insurance policy.
Not everyone likes the process of purchasing auto insurance, but it is a necessary part of society, and legally required as such. IF you are looking for options to cover your legal liability within Collierville, TN, consider giving the Brock and Poole Insurance Agency a call.