February 01, 2006

Today in Automotive History

1898 First Auto Insurance Policy

The Travelers Insurance Company of Hartford, Connecticut, extended coverage to an automobile owner, making them the first company to issue an automobile insurance policy to an individual. Dr. Truman J. Martin of Buffalo, New York, paid a premium of $11.25 for the policy that covered $5,000 to $10,000 of liability. In 1925, Massachusetts became the first state to mandate automobile insurance, "requiring owners of certain motor vehicles and trailers to furnish security for their civil liabilities." Today, auto insurance is a fact of life for American drivers as nearly every state requires some insurance for the operator of a motor vehicle. In a country where the driver's license serves as the primary form of identification, the challenge of selecting a coverage policy and paying the car insurance premium has become a rite of passage for many young Americans.

Posted by Quality Weenie at February 1, 2006 08:17 AM | TrackBack