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The first Car Insurance Policy

first car insuranceThe first car insurance policy issued in US has an interesting story.
The story starts with the fact that the first car insurance policy ever issued was in UK in 1895.
Only two years later, the first car insurance policy was finally issued in US.

While the first place that comes to mind, when we think of automobile industry in US, is Michigan, surprisingly the first car insurance policy was not issued there. Before the auto industry chose Michigan to be the center of American car evolution, Ohio was the home of many innovators in this industry.
In 1897, Travelers Insurance issued the first car insurance in US history.
It was for a gentleman named Gilbert Loomis of Dayton Ohio.
The policy was worth $1K and covered Loomis if he injured/killed someone or damaged their property.

Interestingly, Travelers Insurance was founded in 1864 but it took 33 years (and the first car insurance news from UK) to issue the first car insurance policy in US.
Still, they were far ahead of their industry and they have proven to be one of the oldest & most reliable insurance companies in US history.