Auto Insurance 110 Years Old Today

Car insurance is both required and a major item in the budget of most households.
The idea of insuring cars against accidents began this month in 1898 when the Traveler’s Insurance Company issued a policy to Dr. Truman Martin of Buffalo, New York.
His policy cost US$12.25 and gave him $5,000 in coverage.
Martin was chiefly concerned about accidents between his automobile (one of fewer than 4,000 in the entire country at the time) and horses, which numbered about 18 million.