CONCLUSION

Auto insurance being a product that the government mandates drivers to purchase, deserves special attention and control to guarantee that premiums are fair and cheap. This is especially true given the importance of transportation to economic stability and mobility. Auto insurance costs the typical American $1,771 per year or roughly $148 per month. In the United States, about 215 million drivers have vehicle insurance, and the sector as a whole is estimated to be worth $316 billion by 2022.

It is safe to say from the data that

1) Various factors such as Drunk driving, Speeding, Distracted driving and other various human errors are the main reasons for accidents.

2) There are still many people driving without insurance on the roads, putting themselves and others at risk.

3) Furthermore, the government must assume responsibility for ensuring that insurance premiums are not so exorbitant that an average household man or woman cannot afford to pay.

4)According to National Highway Traffic Safety Administration data from 2010, the insurance sector is critical to a government's economy since motor vehicle crashes cost about $1 trillion in losses each year.

5) Having a car is so prevalent now and a requirement for all of us since it makes our lives easier and saves us a lot of time. However, when we utilize automobiles to the fullest and there is a risk of danger associated with it, we must not overlook insurance as it benefits us.