In many countries and parties of the world, there are different legislations and road rules. In most of them, there are valid international agreements and contracts, for example, European Union. Also, road traffic is no exception. Everybody knows red is the international color for stop and green for go. You can know more all Best Car insurance in the world.
For cases of damages, it exists in a similar way.
In today’s countries thinking economically, there exist as well as insurance for people also insurance for your car. It is used just different titles or terms, but the definition must be the same. In different countries, there are many names for the same kind of insurance but it is usually kept its meaning and content.
Some of the states and their car insurance:
Australia – Third Party Personal insurance – Motor Accident Commission, Transport Accident Commission, Compulsory Third Party Insurance (CTP Insurance)
Canada – Public Auto Insurance, Privately Auto Insurance – there are differences between provinces, but all of them have some form of no-fault insurance available to accident victims.
Germany – Third Party Personal Insurance, Comprehensive Insurance
Hungary – Third-party Vehicle Insurance is required for all vehicles in Hungary.
Ireland – At least Third-party Insurance, or obtained exemption – generally by depositing a large sum of money with the High Court as a guarantee against claims.
United Kingdom – At least Third Party Personal Injury Insurance, Road Traffic Act Only Insurance or to have made a specified deposit with the Accountant General of the Supreme Court
Romania – Motor-vehicle liability Insurance
Indonesia – Third-party vehicle Insurance
South Africa – there is the Road Accidents Fund from the money from gasoline for compensating third parties in accidents
United States – Auto insurance covers liability for injuries and property damage, but there are some differences in some of the states – Liability insurance, third party insurance, “Personal Responsibility Acts”
In most of the countries, car insurance is a compulsory purchase for the vehicle drivers. But there are still some people who think that it is an unnecessary expense and they can save money by not buying it. Is car insurance really necessary for those who drive a car? Let’s find out.
Conclusion
Even though it is not compulsory in all countries, car insurance is still one of the most important things you can buy for your vehicle. No matter how careful you are while driving, accidents can always happen, and if you’re not insured, you’ll have to pay out of pocket for any damages or injuries which occur.
This can quickly add up to thousands or even tens of thousands of dollars, so it’s definitely worth investing in good car insurance coverage. And don’t forget – if you’re caught without valid insurance, you could face fines and other penalties as well. So overall, we believe that car insurance is essential for anyone who drives a car.
