Who Invented Car Insurance

The first car insurance policy was purchased in the United Kingdom in 1890 by the Liverpool and London Steam Wagon Company. The company was created by Walter Bersey and Frank Despard and their business model was based on the newly-invented motor car. Bersey and Despard realized that the motor car was a potential liability and they decided to create a policy to protect drivers from damages that might be caused by their vehicles.

The first car insurance policy was for £5000 and it covered any damages that might be caused by the company’s vehicles. The policy was successful and it soon became a requirement for all motor vehicle owners in the United Kingdom. Today car insurance is a multi-billion pound industry and it is compulsory in most countries.

Who created car insurance?

Answer 1: Progressive Insurance Company

When was car insurance created?

Answer 2: 1937

Where was car insurance created?

Answer 3: Ohio

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Who currently offers the cheapest car insurance?

Answer 4: GEICO

How much did the first car insurance policy cost?

Answer 5: $34

How has car insurance changed since it was first created?

Answer 6: Car insurance has become more expensive and offer more coverage than it did when it was first created.

What is the average cost of car insurance?

Answer 7: $1427

Why is car insurance so expensive?

Answer 8: Car insurance is expensive because it is a way to protect yourself financially in the event of an accident.

How can I save money on car insurance?

Answer 9: There are a few ways to save money on car insurance such as bundling your policy with other types of insurance or shopping around for a policy that fits your needs.

What are the different types of car insurance?

Answer 10: Some of the different types of car insurance are liability collision comprehensive personal injury protection and medical payments.

What is the most important type of car insurance?

Answer 11: The most important type of car insurance is liability insurance which covers you if you are at fault in an accident.

Do I need car insurance?

Answer 12: In most states car insurance is required by law.

What happens if I don’t have car insurance?

Answer 13: If you don’t have car insurance and you are at fault in an accident you could be responsible for paying for the other person’s damages.

Will my car insurance cover me if I am in an accident?

Answer 14: It depends on the type of car insurance you have.

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What is the best car insurance?

Answer 15: The best car insurance is the one that fits your needs and budget.

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