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(Best Syndication) Auto insurance is one of those requirements for driving a car, along with a valid driver’s license. Although indemnity obligations may vary, every state except New Hampshire requires some sort of policy before you can drive on public roads. In California, drivers may have their vehicle impounded if caught driving without the basic coverage. Typically, drivers are required to cover the loss and damage to the other car. The obligatory policy protects the “third party” and the financial consequences of their loss, damage or injury caused by your vehicle. Most of the time it is optional to cover your own vehicle against damage. Of course the law may vary according to state, so check with your insurance broker to determine your minimum requirements. There are a number of factors that determine the insurance rate. Age, driving record and type of car help underwriters calculate the risk to the insurance company and the premium amount. In some instances, the rates may be set by law. When the premium is not set by the government, insurance companies usually determine the rate from the calculations of an actuary based on statistical data. Since women get in fewer accidents, their cost of coverage may be lower. But if the woman drives long distances to work, this may adjust the rate upward. Liability insurance covers claims against the specified car owner and those who may drive the car. The coverage may exclude others at the policy holder’s address unless they …