Who Created Car Insurance?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   Car insurance was not invented by a lizard.   A principle behind insurance, any insurance, is shared risk.  Insurance was being written before the invention of the automobile.  Ships were insured.  Because both an automobile and a ship move and carry things the transition was simple.  In more recent times there has been a continuous effort to have auto policies issued by various companies provide the same basic coverages.  So you could say that auto insurance is still being invented as automobiles change and the environment in which they operate changes.

   Answered on March 5, 2014

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