You need protection should your vehicle be damaged or stolen. More importantly, you need liability protection - insurance should you or other household members cause property damage or injury to others as a result of operating a motor vehicle. Other automobile policy features include reimbursement for injury caused to you by an uninsured or inadequately insured driver (uninsured or underinsured motorist coverage) or optional medical payments coverage. There are many special situations where you may need to customize your policy; examples include installation of custom audio equipment, business use of your auto and teenage and guest drivers, to name a few.  The end result is overall asset protection.