What Is Car Insurance and Why Do I Need It?

Car insurance is meant to safeguard you and everyone else on the road with you from the potential high cost of accident-related and other damages or injuries. It’s a contract in which you pay a certain amount — often referred to as a “premium” — to your insurer in exchange for a predetermined set of coverage.

Car insurance is required in most states if you own a car, but minimum mandatory coverage and policy restrictions will vary. If you finance or lease your car, your lender may have additional requirements.

It is a good idea to have automobile insurance. If you cause an accident, you may be held accountable for any associated costs including vehicle repairs, property damage, medical bills, lost income, legal fees, and more. Your financial wellbeing might be jeopardized if you don’t have the right coverage.

Working with a Beacon Point insurance Team Member to assist you in selecting a vehicle insurance policy that meets your unique requirements and budget can help shield you, your loved ones, and your asset

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