As car owner I believe that I need to have auto or car insurance as far as I know the primary use of auto insurance is to provide financial protection against physical damage and or bodily injury resulting from accident or traffic collisions and against liability that could also arise there from the specific terms. To a lesser degree auto insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions for example own damage.
This is how the auto insurance works, by purchasing auto insurance instead of paying out of pocket for auto accidents, car owner pay annual premiums to an auto insurance company and the insurance company then pays all or most of the costs associated with an auto accident or other vehicle damage. When buying auto insurance make sure to know first what are the coverage of the auto insurance that you are going to purchase.
The advantages of having auto insurance are that it can covers collision and upset, physical damage other than collision, loss by theft, fire, flood and in most cases, extended liability. Some of the auto insurance company are Prudential Guarantee , offering auto, car and medical insurances, BPI MS Insurance, offering auto, car and travel insurances, Mapfre Insular , offering car and business insurances, Malayan Insurance , offering car, fire and marine insurances, UCPB GEN , offering fire, engineering, marine, motor, cars, accident, liability and casualty insurances, and Standard Insurance offering car, auto, motorcycle, breakdown, marine and liability insurances.
In my own opinion it is advisable to have auto insurance for your car so that in case of accident there is someone you can trust to help you especially in financial aspect to pay for the damages cause by accident or whatever instances that is related to your car.