News From Law.com
The first auto insurance policy was sold just a little over a decade after Karl Benz applied for the first patent for a gas-powered vehicle. Historians appear split on when the first auto insurance policy was sold, with some claiming the sale occurred in 1897 and others claiming it was 1898. One thing historians do seem to agree on is that Travelers Insurance, which has been around since 1864, sold the policy. This piece reviews the history of personal auto from the 1890s through the 1970s.
Property & Casualty
December 08, 2023, 7:49 AM