auto insurance policy is issued to individual
February 1, 1898
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.