The Consumer's Independent Guide to AUTO
INSURANCE
When the first U.S. automobile insurance
policy was purchased in 1898, there were barely 100 cars
nationwide. Horses and carriages ruled the roads and the
main concern for both insurers and auto drivers was any
injury those noisy new machines might do to horses.
Today, a motor vehicle accident occurs every
second. Auto accidents cause an injury every 14 seconds, and
every 13 minutes a car accident results in a fatality. More
than 31 million accidents occur annually at a cost of more
than $100 billion. Theft and vandalism are other major
perils, with a vehicle being stolen every 20 seconds.
With more than 150 million drivers and
registered vehicles on the road today, auto insurance is the
most widely purchased of all property-casualty insurance,
yet few drivers are familiar with the details of their
particular policy.
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