CAR INSURANCE DAY 2018

Risks are present in anyone’s life.  This is a reality that people have come to accept and live with.  To minimize the dangers, people purchase insurances.  Through the years, the items covered by insurances broadened to cover what people invest in or consider of value.  How funny it is that people have to undertake a gamble, called insurance, to cover the possibility of loss.

When is the Car Insurance Day?

The Car Insurance Day is on February 1, 2018, a Thursday.

The Car Insurance Day is observed annually on the first day of February.

Origin of Insurance and the Car Insurance Day:

There is no recorded history or origin for this special day.  The business of insurance though was started by the Chinese in 3000 BC in the form of marine insurance.  Insurance is defined as the justifiable transfer of the possibility of loss, from one entity to another, in exchange for payment.

In 1927, Massachusetts passed the first law making it mandatory to have liability car insurance.  In the mid 1990’s, sale of car insurances became available online.  Car insurance coverage, as stated in the insurance policy, varies depending on the choice of the car owner.

Kinds of Insurance:

The first kind of insurance is the marine insurance.  This covers the ship and cargo’s risks against damage, loss and being robbed by pirates.  Property insurance covers buildings and homes against fire, earthquake or flood.

The most expensive insurance is the one that cover’s life and health or medical treatment.  Car insurance, on the other hand, is an insurance good for year, subject to renewal, covering loss, theft and accidents.  Third party damages are also available for car insurance with an increase in the premium payment.

The Car Insurance Day observance:

This special day can be observed through increasing awareness of the contents of the policy, its specific coverage, limitations and processes.  It’s also a good time to canvas from two to three insurance companies and compare prices and scope.

At home, it would also be nice to have the car checked, specially alarms and other accessories installed.  Tidying the garage is also suggested.  Another way is to study the “Acts of God” insurance coverage and evaluate if the increase in the premium is fair to the risk covered.

When is the 2019 Car Insurance Day?

The Car Insurance Day is on February 1, 2019, a Friday.