Introduction
Auto insurance is defined as a contract between the insured and insurance carrier that protects the insured against financial loss in the case of an accident or theft. The insured person or the policyholder has to pay premiums for the coverage set forth in the insurance policy.
All states have regulations that set the minimum amounts of insurance or other financial security the vehicle owners have to pay for the loss caused by their negligence behind the wheel if an accident occurs. All vehicle owners are legally bounded to buy at least the minimum amount of liability […]
