February 1st, 2020
There could be no history of car insurance without the development of the car. While there were many steam-powered vehicles and other types of cars being produced, it wasn't until 1893 that the first gasoline-powered car was built in the US by Charles and Frank Duryea. There had always been a type of car insurance for these vehicles, based on marine insurance, to protect the owner from loss. Then in 1898 the first car insurance policy covering liability was issued to a man named Truman J. Martin through Travelers Insurance Company of Hartford, CT.
Source: www.carinsurance.org/guide/history/
