[kittyluver]

I think auto insurance rates are really high. Do you think they are really important for a person? (Although it is mandatory in most of the countries, I'm asking because I'm just curious...)

[gspx]

Well, lots of people crash, and the insurance companies have got to make money some way.
Think about it this way, you're driving your brand new $400k car, safely and all that. Then some punk crashes into you, and writes it off. Without insurance, you're screwed, and the punk sure as hell isn't going to be able to pay $400k. You never understand the value of insurance until you're forced ot use it.

[sumit2nice]

These are the primary reasons that you need auto insurance:
Protect the value of your vehicle
Cover your liability if you are in an accident
Self protection if involved in an accident with an uninsured or underinsured driver
It is the law, most states require a minimum of liability insurance