Bizarre Accidents and Staggering Auto Insurance Costs and Facts Explained
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We all hate it, but if you live in the US or Canada, auto insurance is mandatory and a fact of life if you want to get anywhere on your own mode of wheels. Liability insurance can seem akin to dealing with the mafia for protection, and comprehensive and collision can feel confusing and confounding — so just what do all of these terms mean, and how do the costs directly affect your pocket book?
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One little-known staggering fact, is that for every $100.00 that insurance companies take from you for premiums, $11.00 of that amount — a whopping 11% — will end up in the hands of lawyers over legalities and law suits for the plethora of mindless accidents that occur on a daily basis.
You’d better have deep pockets if you live Detroit, Michigan, where you’ll get hit with nearly $5,000.00 fees a year on average for the luxury of auto insurance to move your wheels.
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While auto insurance may be required by law, 20 States in the US still stipulate mandatory Uninsured Motorist Protection.
16 American States require Personal Injury Protection, but on the cheery side of things, your funeral will be covered in the event of your death in an auto accident.
Insurance Premium Terms and Costs
The following photos may take the sting off a bit over paying those hefty premiums to be thankful you actually have it, or provide some understanding as to why your rates are so high — paying for other people’s mindless mistakes.
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Photo Spaceodissey
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Photo Seattle Municipal Archives
Photo Paul Sappiano
Photo Naotaken
Photo Bu Hamad
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Photo Peyman
Source: Online MBA
Tags:accidents auto automobile bizarre car facts infographic insurance premiums
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I think car insurance works at some levels. In my opinion, having an insurance plan leave the door opens to accidents. People is reckless and feel secure because they believe they insurance plan is going to save the day. IT is just my opinion.