Auto insurance provides financial protection in the event of an accident, theft, or damage to your vehicle. It includes property, liability, and medical coverage. Property coverage compensates for vehicle damage or theft, liability covers injuries or damage to others, and medical coverage pays for treatment and related costs. Most states require certain coverages, and lenders may have additional requirements if you’re financing a car. Auto insurance policies typically last six months or a year, with renewals sent before expiration. It’s essential for protecting against expensive repairs, medical costs, and potential lawsuits, and in many states, it's a legal requirement.
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