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Essay / Research Paper Abstract
A 12 page overview of the world of automobile insurance. Choosing adequate automobile insurance can be one of the most cost effective things an individual can do in this modern age. Not only can automobile insurance premiums whittle away a sizable chunk from an individual’s take-home pay, they can serve to insulate you from economic upheaval in the case your car is destroyed or stolen or even from bankruptcy in the event you are sued for damages someone sustained in an accident involving your car. The author guides the reader through several key criteria which should be considered in an analysis of their own policy. Bibliography lists 5 sources.
Page Count:
12 pages (~225 words per page)
File: AM2_PPinsura.rtf
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Unformatted sample text from the term paper:
Choosing adequate automobile insurance can be one of the most cost effective things an individual can do in this
modern age. Not only can automobile insurance premiums whittle away a sizable chunk from an individuals take-home pay, they can serve to insulate you from economic upheaval in the
case your car is destroyed or stolen or even from bankruptcy in the event you are sued for damages someone sustained in an accident involving your car. The task
of balancing risks and costs can be a delicate one and one which requires a consideration of several basic facts concerning the provisions and limitations of insurance.
Frischling (2003) reports that the average annual automobile premium in the U.S. in 1996 was a whopping $740. Given that for most individuals this amount
represents a significant percentage of their annual income it is no wonder that many seek ways to minimize their insurance costs or even escape them. In every state of
the Union, however, automobile insurance is a legal requirement. Furthermore, it can be contended that regardless of the legalities of whether you have to have insurance, it is financial
suicide to elect to not carry sufficient coverage. There exists, of course, a broad range of coverages within which one can work out an acceptable compromise to the dilemma
which exists between costs and need. Given that you must have automobile insurance, the next task at hand is deciding the specifics of
the insurance you will buy. It is not enough to simply choose the minimum level of coverage required by law. In case of a serious accident or loss,
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