How does car insurance differ from other types of coverage and why is it so important for drivers? P.J. Miller Discusses in Interview with MoneyGeek
P.J. Miller - Vice President
Auto insurance is important because it protects you in the instance of an accident or loss (fire, theft, etc.) and most people are not in a position to come out of pocket to pay for the replacement of a totaled car or another driver’s medical bills. Drivers can rely on their insurance to cover some or all of these costs.
In an interview with MoneyGeek, Vice President P.J. Miller discussed how car insurance differs from other types of coverage and why it's so important for drivers.
“While most forms of insurance coverage are optional, car insurance is required in almost all states to register and drive a car. It’s also typically required if you lease or finance a car,” P.J. said. “One major difference between car insurance and many other types of insurance coverage is that it’s legally required in most states to operate a vehicle. For example, many states don’t require you to carry boat insurance to operate a boat. While I don’t recommend this, technically, it’s legal.”
Read the full MoneyGeek article here.