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Understand minimum state requirements for auto insurance

Although car insurance is a recurring expense, it is important because it will protect you from financial liability or loss if your car is involved in a collision that results in physical or property damage. In the United States, car insurance rules vary between states, but in most cases, liability insurance is required as evidence of financial responsibility, or simply, to demonstrate that you, as the owner of the vehicle, can cover the cost of damage to other people or property in the event of an accident being Its wrong.

Some jurisdictions, such as Wisconsin, have less stringent “Proof of Financial Liability” rules. In Virginia, insurance is also not required, and people who live there can instead pay an annual state fee, about $500 per vehicle, if they choose not to purchase liability insurance. In comparison, there are a few states like North Carolina where it is mandatory for you to purchase liability insurance before a driver’s license is issued. Because of these differences in insurance requirements, it is best to check with your state’s transportation office.

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