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If you want to know the most important reason for buying auto insurance policy, then it is right there in your garage. Yes, your vehicle. If you own an automobile, then you ‘need’ an auto insurance policy. Simple and straight as that. Why would that be?
Let me give you an example here:

You buy a car and complete all formalities. You sit inside and proceed towards the main gates of agency, towards road. As soon as your car touches the road, a speeding vehicle smashes right into you. The driver of other vehicle runs away and you reach police station for filing complaint. After inquiry, you are told that the vehicle was reported stolen and hence, the damage of your vehicle cannot be paid by the owner of that vehicle. What can you do? Worst scenario can be, if you car was Rolls Royce, Jaguar or Porsche.

So, if you had bought auto insurance before you drove your brand new car out of showroom, then the damages would have been covered by the insurance provider. That is the reason why people prefer buying auto insurance right after you buy a car and before you take it on the road.

One more thing that may necessitate auto insurance coverage is more than one driver for your vehicle. If your kids, spouse or friends also drive your vehicle, then you need a policy that would offer coverage of all the drivers.

This would allow you to minimize your worries about other drivers and your automobile as well. Part of the reason is that you can never be too sure about the driving of another person, especially if the person is not-so-experienced or if you do not accompany that person every time. So, even if there is minor damage, your policy would easily cover it to save you from panic.