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Do I Have to Purchase Car Insurance?

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 09/01/2015

Have we been misled into thinking we have to purchase car insurance?

Having to purchase car insurance to be able to drive is something that we have had drilled in our heads for quite a while now. But, did you know that in most states you are not actually required to purchase a car insurance policy?

The only thing you are required to have is proof of financial responsibility. This proof of financial responsibility can be in the form of a car insurance policy or it can be in the form of proof that you have the resources or cash set aside to pay for any vehicle damage or medical expenses that may result from an accident you cause. Because of how much you have to have set aside to meet his state requirement, most people just elect to purchase car insurance.

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Michele Wilmonen

Michele's first introduction to insurance was working for a major insurance company as a file clerk and a mailroom supervisor in a regional office. She learned insurance directly from underwriters and claims adjusters from questions and also watching them do their job. Since then, she's earned a number of insurance certifications from the Insurance Institute of America and also a Bachelor’s degree from the University of Idaho. She blogs at Car Insurance Guidebook.

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