Why Buy Auto Insurance
If you are involved in an accident and you are the one at fault, you could be held liable (legally responsible) for any bodily injury or property damage resulting from that accident. If a lawsuit is brought by the injured party, a court could order that your assets be used to pay for the resulting damages that are awarded. Even for an accident where you were not at fault or were only partially at fault, the costs of defending yourself from a legal action could be very high.
What if you are involved in an auto accident where the other party is at fault, but they have no money, no insurance, or inadequate insurance and you are injured?
Even regarding an accident where you are not at fault you could incur substantial medical and other costs, if the at fault driver does not have insurance. And don’t forget the damage to your own auto as well. You will need to repair your auto in the event of an accident or other type of property damage loss. This will be paid by you unless you have the proper coverage available through your auto insurance policy.