Sunday, 8 June 2014

10 Mind Blowing Killer Facts About Insurance

1 .Travelers is known to write the first liability car insurance policy in 1897.
2. The first known car insurance policy was written in the UK in 1895.
3. Prior to 1997 car insurance was pricier because people could not access the internet for better rates and had to rely on their local brokers.
4. The Internet changed everything on how people shop for insurance.
5. At first, every person was paying almost the same for insurance. Then companies made changes to the $ they pay depending how they drive and this way they can get more customers by lowering their rates because they are better drivers.

6. Farmers only sold car insurance to farmers for quite some time before branching out to other kinds of auto insurance.
7. Insurance generates more than $1 trillion.
8. Property and Casualty (P&C) insurance is a $420+ billion industry.
9. Personal auto insurance is a $160 billion industry sector.
10. Life/health (L/H) insurance is a $500+ billion industry.


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