What is automobile insurance?

When you get auto insurance, you enter into a contract with the insurance provider that protects you from financial loss if you are involved in an accident, or your vehicle is stolen. In return for your payment of a premium, the insurance company undertakes to compensate you for your losses following the terms of your policy. Auto insurance offers coverage for the following items:
Theft or damage to your property, such as your automobile
Liability refers to your legal obligation to others in the event of physical harm or property damage.
Medical expenditures include the costs of treating injuries, rehabilitating patients, and, in some instances, lost income and funeral costs.
Most states in the United States need basic personal auto insurance, while the requirements differ from state to state. In addition, auto insurance coverages are priced separately (a la carte), allowing you to tailor the amount of coverage you get to your specific requirements and financial budget.