Prior to airplanes and trains, boats were the primary source of transportation of goods. But imagine sending goods in a boat or ordering goods for a price months before it would be received. Many people would anxiously await with worry, wondering if their valuables would be lost at sea, knowing their monetary investment would be gone along with it. Today, no matter what the goods are, we have the comfort of insurance.
Not surprisingly, insurance began with overseas transportation in Babylon, circa 2100 BC. It was not called “insurance,” but the “code of Hammurabi” where a merchant, after receiving a loan to fund his shipment, would pay an additional sum for the lender’s guarantee to cancel that loan.
Later, a group of Chinese investors used to send cargo ships to the new colonies and would want insurance in case the cargo ship sunk or was taken over by pirates. In the 18th century, supplies would take months to get to the colonies. Now, it only takes a matter of days for cargo ships to travel from China to America. Insurance is much more widespread now with first-class mail and the multitudes of options of insurance on health, life, home, and many other valuables. If people today want insurance on a letter going through the mail when it only takes days, you better believe they wanted insurance on cargo that took months!
Though marine insurance is traced back the furthest of all types of insurance, auto insurance Las Vegas residents trust came about thousands of years later with the idea of protecting innocent third parties that were damaged by a vehicle. The first car insurance sold in America was in 1898, but was not mandatory in any states until in Massachusetts in 1927. It was seen as a privilege to be able to use public streets. The mandatory insurance was called compulsory liability insurance statute where all parties were responsible for their own vehicle. As the vehicles became safer, insurance became more affordable and thus more widespread.
Since the early twentieth century, auto insurance Las Vegas drivers invest in has greatly expanded to offer insurance for medical payments, uninsured and underinsured drivers, comprehensive claims, collisions, emergency road service and even rental reimbursement. With so many companies, it’s easy to compare different rates and find something affordable. Visit with an AccuPro insurance agent today to get the best rate for your automobile insurance. Although times have changed and vehicles have become safer, there are more people on the roads making it just as risky every time you drive as it was a hundred years ago. AccuPro represents several of the best rated insurance companies in the market to provide you with the best rates possible. Rest assured and drive safely with auto insurance Las Vegas provides.