Last Updated on January 15, 2021
In case you are responsible for an accident in which resulted in injuring someone or damaging someone’s property, liability coverage might help cover the victim’s losses.
Moreover, getting pulled over or caught during an accident without insurance will immensely affect your finances.
3 Satisfy Car Loan or Lease Requirements
© Moneycontrol
In case your state doesn’t require car insurance, your lender may require you to get collision and comprehensive coverage when applying for a car loan or lease. Collision or comprehensive coverage can cover repair payments if the car is damaged in a covered loss.
