Car insurance is both required and a major item in the budget of many households. The idea of insuring cars against accidents began this month in 1898 when the Traveler’s Insurance Company issued a policy to Dr. Truman Martin of Buffalo. His policy cost $12.25 and gave him $5,000 in coverage. Martin was chiefly concerned about accidents between his automobile — one of less than 4,000 in the entire country at the time — and horses, which numbered about 18 million. Now, cars and trucks vastly outnumber horses, there are nearly 14,000 property and casualty insurance firms, and nearly $240 billion worth of insurable automotive assets are manufactured annually. You can find more facts about America from the U.S. Census Bureau, online at <www.census.gov>.
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And now it is required to have health insurance. We know there are uninsured drivers, which adds to insured rates, but aren’t we glad we have our vehicles and liabilities covered when there’s an accident? And aren’t we glad we can get some competitive rates for all our insurance needs? I see it the same with health care, only income based, as it is with medicare.