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In my proud little state the state government has imposed a minimum requirement in the car insurance policies needed by a citizen. This minimum on car insurance policy dictates a floor standard in the coverage plans purchased by those who need car insurance. Based on my experiences getting the minimum state requirement for car insurance has its own advantages and disadvantages. Honestly, I never opted to but the minimum requirement as long as I can afford getting better one simply because minimum required car insurance translates to minimum benefits. I know that many would agree with me on the claim that getting better car insurance is more beneficial than getting the minimum required car insurance.
There are different car insurance requirement in every state. The imposition of a minimum requirement is highly dependent on the local state government. In their decision making process on the minimum insurance requirement the government with the help of the car insurance companies assess the risks that we can encounter while driving in our state.
In my years of being insured, I came to an understanding that there is only one benefit from a minimum insurance requirement, it is a lot cheaper than the regular car insurance policies. The price of the required minimum insurance is cheap because it is bargained by many insurance companies.